Canadian Online Discount Stock Brokerage Comparison 2. Notice: Although this Canadian online stock brokerage review/comparison is dated back to Dec 2. Are stock trading commissions eating away at your profits (or increasing your losses)? Ticked off at paying at least $2. Well there are some new players in town! They are MUCH cheaper and offer similar features. Who are we talking about? From my research, there are a number major (cheap) discount brokerages in Canada that are worth mentioning which include: E- Trade (now i- trade), Virtual Brokers, Qtrade, Interactive Brokers, and Questrade (voted #1 by Million Dollar Journey Readers). As an update and side note, almost all discount brokerages are very competitive with low trading fees (under $1. Max 0. 5% of trade value ($0. Min $1/CAD trade. Max 0. 5% of trade value ($0. Daily updated digital multimedia news, covering DVD, next generation optical storage formats, P2P, legal issues and much more. Its ten provinces and three territories extend from the Atlantic to the Pacific and northward into the Arctic Ocean, covering 9.98. Archive of free ebooks of works that are in the public domain in Canada, focusing on Canadian writers and topics. Your source for market news, investing, technology, economy and Canadian industry. No$1. 0 USD/ mo (only if you don’t trade $1. USD balance), $5. RRSP fee. ETFs are free to buy, reg commission to sell. Yes (only when buying, selling is regular comm)$0, but $1. Yes. BMO Investor Line. Yes/ Yes. Yes. Yes$9. No$1. 00 / yr if less than $2. Notice: Although this Canadian online stock brokerage review/comparison is dated back to Dec 2006, the information below is updated regularly. Report on Business is Canada’s authoritative source for breaking business news and in-depth analysis. Stay informed on national and world business markets. Horace Newcomb, PhD, Editor “The most definitive resource on the history of television worldwide.” – Library Journal. With more than 1,000 original essays, the Encyclopedia of Television examines specific programs and. Yes. RBC Direct Investing. Yes/ Yes. Yes. Yes$9. No$2. 5 / quarter if less than $1. Yes. CIBC Investors Edge. Yes/ Yes. Yes. No (offer FX at spot rate within RRSP and TFSA)$6. No$1. 25 / yr if under $2. Yes. Credential Direct. Yes/ Yes. Yes. No$8. No. None? TD Direct Investing. Yes/ Yes. Yes. Yes$9. CONVERGENCE is a digital culture magazine for new techology enthusiasts and professionals working in the fields of multimedia, new media, video games, cinema, television, animation, web design and wireless technologies.No$1. 00 / yr if under $2. Yes. QTrade. Yes/ Yes. Yes. Yes$8. 7. 5/ trade or $6. Yes (select group)$1. USD RRSPYes. Virtual Brokers. Yes/ Yes. Yes. Yes. Three options; 1) $0. ETFs are free to buy, $0. However, there are some general guidelines: If you are looking for a USD RRSP, for larger accounts (> $5. I like RBC Direct Investing for USD RRSPs. There is a $1. 0USD / month minimum fee with IB which means that if you spend less than $1. USD in commissions in a month, they will charge the difference to your account. For example, if you spend $6 USD (6 USD trades) in commissions in a month, they will charge you an extra $4 USD. These monthly fees are tax deductible. IB also offers extremely cheap currency exchange. The biggest downside of IB is that you have to pay for your real time data. I use IB for my trading and my big bank brokerage for my real time quotes. There is one feature that I like a lot about big bank brokerages and that is FREE dividend re- investments (DRIP). For example, if you buy enough shares of CIBC to pay you $1. I personally use a big bank for my RRSP and Interactive brokers for my non- registered trading account. I’m sticking with my big bank for now because of the free DRIP. Update Jan 1. 0/0. E- Trade AND Questrade now offer free DRIP! There you have it! A simple review of some of the discount brokerage options out there. I believe that it’s only a matter of time before the big bank brokerages start reducing their fees. In the mean time, look at your personal situation and see if any of the companies listed in my review suit you. You can potentially save a substantial amount of money. If you are interested in stock trading, here are some free online stock trading tools that I have used and recommend. Update Nov 2. 01. Lately, I’ve been more focused on reducing my forex charges which can add up over time. With their new commission structure, you get 5. This works out to be around $7. After the 5. 0 trades are up, it gets even cheaper, $6. What I REALLY like about this structure is that you can purchase the same stock as MANY times as you like during the day, and you’ll only be charged for 1 trade. The same applies for selling, you can sell the same stock as many times as you want during the day and be charged for only 1 trade. This still may not be the lowest cost solution for the small time investor, but once you start making bigger trades, CIBC has the lowest trading fee of all brokerages in Canada. I commend CIBC for taking the initiative that the other big banks have not taken, that is to reduce trading fees for Canadians. Update Feb 2. 3, 2. I have opened a new RRSP account with Questrade. Update June 2. 5, 2. Here is a detailed Interactive Brokers Review. Update July 1. 0, 2. Here is a CIBC Investors Edge Review. Update July 1. 7, 2. Canadian Capitalist has written a review of RBC Direct Investing. Update July 1. 9, 2. Here is a detailed E*Trade Canada Review (now i- trade). Update July 2. 3, 2. Canadian Capitalist has written a review of TD Waterhouse. Update Aug 7, 2. 00. Canadian Capitalist has written a review of BMO Investorline. Update: Jan 2, 2. IB now requires a minimum initial deposit of $1. USD to open an account. Update: April 8, 2. We’ve written a review of Trade. Freedom discount brokerage. If you would like to read more articles like this, you can sign up for my free newsletter service below (we will not spam you).
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. Archives
November 2017
Categories |