Best broker to trade with in Canada? (Paying $29.99 per trade right now with TD)

Discussion in 'Trading Software' started by PolymathMind, Apr 25, 2010.

  1. I am literally getting hoarded by TD Waterhouse which charges you $29.99 when you buy, and $29.99 when you sell, it is ridiculous.

    I am looking for a much more inexpensive broker but it still needs to be good, any recommendations? (Remember I'm from CANADA)

    Thanks.
     
  2. 1) are you trading futures, stocks, options?
    2) try this site, I just searched on: discount broker canada

    http://www.ndir.com/SI/brokers/discount.shtml
     
  3. IB is by far the best

    Questrade $5 per trade for under 500shares plus exchange fees.

    Tradefreedom but they will soon be scotia itrade.

    Jitney trade don't know much about them they are relatively new.
     
  4. Well, how much is interactive brokers, and I mean the price for someone who doesnt do over 30 trades/quarter?
     

  5. In a nut shell: (standard bundled rate)

    Canada: CAD 0.01 per share

    United States: USD 0.005 per share

    Maximum per Order is 0.5% of Trade Value plus exchange fees.
     
  6. $10 data fee per month if you don't do $30 worth of trades and I think its $6 per month for TSE data and $ 25 or 30 if you want Venture exchance quotes.

    1 Trade at TD cover s the cost.

    Sounds like you want Questrade.
     
  7. Another perk of Questrade is you can have your TFSA with them and trade with that money.
     
  8. Well I play penny stocks and sometimes purchase over 10M of them so I guess questtrade?
     
  9. Can't help you there I have no Idea what they charge for the pennies.Probably 9.95 plus exchange fees. Call them
     
  10. klepto84

    klepto84

    I moved to scotia itrade in Jan from a full service broker to save $$ and take charge of my investments. After a few months I closed the itrade account and moved to Virtual Brokers.

    Itrade's customer service was horrible. Long phone waits, poorly trained and in some cases rude. There were many "service" disappointments but the worst was....

    I was given incorrect information regarding converting a LIRA account to a LIF by an itrade service person--supposedly the itrade resident expert..
    After checking other financial sites and confirming the correct information with the Ont agency that oversees pensions, I emailed to ask for a clarification. I received a phone call from the same person who had provided the incorrect information disputing the correct information and telling me that I should "trust my broker not people I don't know......"

    I moved to VB and couldn't he happier with the service, the fees, the trading platforms, and the investment tools. itrade, like most discount brokers forces currency conversion in registered accounts. Which costs a lot of money when trading U.S. stock. With VB I hold U.S. and Canadian equities and cash and I control the conversions. This has saved me money in fees and has made U.S. investments a lot more attractive.

    VB's customer service is world class. I'm saving money on fees and couldn't be happier.

    Check them out!
     
    #10     Sep 18, 2010