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Think about the Norbourg scandal. CIPF provides coverage for members in the event of insolvency. Updating the article now. Not too hard to reach that in an account :. I know Questrade has been in Canada for a few years now.
Canadian Online Discount Stock Brokerage Comparison 12222
Any input would be much appreciated, thanks. Dw: Identity theft will be a risk where ever you go. The key is to be proactive in protecting your information and regularly checking your credit report. I believe that most, if not all, discount brokerages will require your SIN.
I believe they would need your SIN card to report any income you receive from your investments. When they send you your T-slips, it has to show your SIN number to be valid for tax purposes. Credential Direct, owned by the credit unions is the cheapest. Flat commisions, and free level II quotes. I have used them for 6 months and am very happy with the service.
John: Thanks for pointing out Credential Direct. A very good basic table. I manage my accounts as if they are one big one and must do all my own spreadsheets to do rebalancing etc. The downside is that you need to call them on the phone before you do such a transaction. Another useful piece of info is the fee charged to transfer an account out to another brokerage. These fees can be fairly punitive as the brokerages want you to think twice before leaving.
Conversely, will the destination institution reimburse transfer out fees to get the new account and how much will they reimburse? I will look into IB and Questrade. I am a representative from Questrade.
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I just wanted to correct a few points on the Canadian Discount Brokerages table. We have yet to update the website. It will be done shortly…. Thanks for keep us updated. When do you expect that Questrade will offer free real time charts for Canadian stocks in the web trader? The new WebTrader Platform is expected to be available in the next month or 2 if everything goes well. I have not heard anything regarding free real time charts.
If you are starting off with a smaller portfolio, Questrade may be your best bet to keep the costs down. Hey Sam, Instead of comparing fees alone, why not compare the services. Questrade, I believe, is geared toward a more active investor.
If you are someone who actively is managing your portfolio, have a few different trades every month or so and likes to shift money around I think this is the way to go. I opened an account with ShareOwner a while back.
MER is tolerable.. MER is very prohibitive…. I know my opinion is bias but I will lay all the cards in the table and let you decide which is the best way to start investing. Questrade does not have any monthly fees, inactivity fees or platform fees if you go for the WebTrader basic platform.
That will offer you direct access trading without forcing you to make a minimum number of trades. We offer 2 commission plans. When it comes to Mutual Funds, Questrade may not have the best commissions, but one way to get around paying the MER is to buy the biggest holdings of the Mutual Fund. If you want to pick your own companies I would suggest going with a discount brokerage rather than going with ShareOwner investments.
You have to keep in mind that ShareOwner will only allow the purchase of their pre-selected list of securities. Hmmm, looks like I may have completely misunderstood their graph. I figured with the co-op investing that they could offer it for that price since they bundle everyones orders and there would always be someone paying for the transactions. Plus with the other fees for selling and transfers I figured they would get you in the end anyway. It seems to make much more sense the way you describe it.
Warren : The DRIP indicated on the chart represents the reinvestment of dividends when you purchase a dividend paying investment with no fees. However, this only works if you own enough of the company that the quarterly dividends are equal to, or greater than the price of the stock. Is that dependent on both the brokerage and the company supporting it? Yes it is, thanks for the clarification. SPP sounds like a great tool, but obviously there are some more steps to get into one.
FrugalTrader: What i was wondering was if you already have a separate review on these discount brokers about the topic of customer satisfaction, customer service, and accessibility of the money? And one more thing, comments on their performance about sending out the tax slips on time and in proper format.
I just want to know whether it is safe if i open an account in Questrade? Is Questrade a big trader? Does Questrade accept clients from other countries? I am living in Singapore and am interested in investing in Canadian stocks? Does Questrade accept accounts from people from other countries.symdofigo.gq
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I live in Singapore and I am to benefit from the boom in Canadian Stocks. We accept applications from clients all over the world except United States. Industry regulations. Does anyone know if the different brokers charge different amounts or use different spreads on the conversion? Anyone have idea how Interativebrokers charges the exchange rate? I got mixed information about questrade.
Even 0. Wood: Interactive Brokers charges the going exchange rate x 1 basis point. In other words, a very low spread relative to other brokers. Hi there. Thank you for this very informative article. I have a question about IB. Clarification would be much appreciated. Hi, Thank you for this wonderful info.
I want to trade options and will want to trade from 15 to 20 trades a month. Questrade has the same price of 9. Has anyone had any experience working with Tradefreedom? I found their trading platform extremely confusing. Thanks Penny. Penny, if you are new to investing, you may not want to start with options. Questrade offers a free direct access platform called WebTrader Basic. With that platform you will only be charged the commissions whenever you make a trade. A more advanced direct access trading platform that is excellent for trading options is CyberTrader.