Online broker Scotia iTrade now offers commission-free trading of 46 exchange-traded funds.
2. Claymore Investments' PAC Plan
Under this pre-authorized cash contribution plan, investors pay a commission to buy an initial position in Claymore ETFs and then arrange to make regular subsequent investments at no additional cost. Check with your brokerage firm to see if it's enrolled.
3. Bank index funds
Costs to own these funds vary, but all are sold on a no-load basis. The best deal is TD's e-series, which you must buy online via TD Asset Management or TD Waterhouse online brokerage.