IB vs Questrade (9.95$max commission) and order routing question

Questrade sells your orders flow to High-Frequency Traders(APEX, Citadel) and is nowhere near as capitalized as IB. The only thing Questrade has going for it is access to the CSE exchange with Interactive Brokers doesn't have yet except for Liquidation orders.

Disclosure: I used to work at Questrade

 

Thanks for your reply. Yes you are right. I don't have that much of a big capital (hopefully one day!) and even if I do I think I will stay with IB

Cheers

 

Thanks for your honest reply. Yes so in the end bad execution fill from PFOF will result in higher costs

 

Also compare the ECN fees as well. IB passes on the cost to clients and offers rebates. Questrade marks up the ECN fees by almost 3x and passes on 0 rebates except to 2 HNW clients.

 

didn't know that! Thanks again

 

Will you guys be publishing execution stats for LITE vs PRO? I would imagine that would be a powerful marketing tool to pull people away from the exclusively zero comm firms and into IB PRO.

 

There are firms in Canada with a lower cost per share pricing than IB for day traders. If you are just investing or swing trading then IB is probably fine.

 

Can you name them?

 

WealthSimple has $0 commission. Haven't used them but they've added a lot of customers the past year and they get good reviews.

 

WealthSimple sells order flow - lots of evidence it costs clients more than IB's $0.003 per trade.