TFSA & Canadian discount brokerage firms

Discussion in 'Retail Brokers' started by dc101, Sep 22, 2009.

  1. dc101


    Couple of questions for my fellow Canadians that trade with TD Waterhouse through TFSA account:
    1) What else can be traded aside from Canadian stocks?
    2) Any futures, or forex?
    3) What are Active Trader platform fees and trading transaction costs?
    4) What's your opinion of Active Trader platform?
    5) Know any other software packages that can be used with TDW - like NinjaTrader or similar?

    Any other recommendations (positive experience of course) for any other Canadian firms that allow TFSA for short-term trading leveraged instruments?

    Thanks in advance.
  2. I don't have any experience with TDWaterhouse in particular, but this is the information I've received in general regarding TFSA's:

    No futures
    No margin
    stocks and options (without leverage) are ok
    Forex - not sure, but most likely no

    so from what I understand 'TFSA for short-term trading leveraged instruments' <-- is not possible.
  3. dc101


    Thanks squirly309. You are right. I did some additional research and it seems that the only thing one can do with tfsa is penny stocks trading. Do you know any software that can scan TSX & TSX Venture to find those by some criteria (volume, price, news, etc)? My preference would be desktop software with real data feed and not something online.

    Have you used QuestTrade platform? If yes, would you recommend it? They seem to have lowest costs/fees in Canada. TradeFreedom used to be there as well, but they got bought by Scotia.