Canadians Brokerages Rip off Customers, "Commissions Collusions"

Discussion in 'Retail Brokers' started by mahram, Jul 29, 2005.

  1. Can anybody explain why all of the major brokerages in Canada still have 29$ per ticket trades? Why they have a min 2.5 cent share trades? Interactive brokers canada, and the other directs are the only ones giving canadians decent commissions comparable to their american counterparts. Look at How tdwaterhouse canada charges so much for a trade, while tdwaterhouse usa *same product and everything* has trades 50% cheaper then its canadian counterpart. Its funny how Ameritrade canada when tdwaterhouse bought it was the only one charging 10.99 a trade and will soon increase its price to 29.99 to fit the tdwaterhouse model. My point is why are the commissions so high and for so long, even thought you as a canadian can open an account with its american counterpart, and get the same quality service, and little unknown fact, if your canadian and have an american account, with a canadian subsidiary you will be handled by its canadian brokers? So WHY? collussion, illegal monopoly
  2. nassau


    To solve your problem you could always trade through an off shore broker and receive the 4/1 versus 3/1 offered as a canadian resident.

    This would give you the cost adjustment and leverage if you so choose to use it.
    I know this as several of my business associates are canadians and trade through brokers either in Europe or Off Shore Brokers.

    I do not know what tax implications this would have but it would solve your issues