Does anybody know of a firm that will allow day trading of Canadian stocks on the TSX besides Trade Freedom (I'm not sure about Quest or Swift)? Any response would be appreciated. Carlos
If anyone has any experience with this also, how stocks trade, liquidity, etc., would they please be kind enough to post their experiences. Thank you, Carlos
Hi Carlos, I'm not sure if this will help, but I know NAQ (North American Quotations) is a big player in the data market and they are based in Canada. I do not know if they have brokerage functions, though. Perhaps you can check their site: http://www.naq.com
In DAT on TSE, your choice is limited: TradeFreedom Jitney Groups (TNO affiliated) IB (in the future, but no ETA)
Thanks for the input. Do either of you know much about Trade Freedom? Does either of you or anybody body else have/ know of any experiences with them?
really the only reason to trade Canadian stocks (considering how thin and mostly low quality the market is and how high the brokerage fees are) is because RRSP rules for investments require Canadian content. Otherwise just go with the US markets at http://www.interactivebrokers.ca/
I agree with trader42 about the liquidity...it often sucks, but keep your eye on the gold price. If it starts to move the gold and exploration stocks can become very liquid very fast.
um, the rules allow you to trade all you want in eligible foreign content (US stocks). at the end of each month your plan administrator will add up the foreign amount over 30% (cost basis) and levy a 1% penalty, payable at end of year. it is a cost of doing this business, and becasue of the way they calculate, you can go out of positions for a day at the end of each month and may not pay anything. you can also buy labour funds to increase the amount of foreign content up to 50%.
Any rules similiar to U.S. PDT margin rules? Or mayben even worse. If not, we should trade Canadian stocks and options.