Canadian Online Brokers

nomis_bmw · 03-16-2006, 03:15 AM

Just wanted to ask the Canadian investors out there which online broker do you use? I've been using TD Waterhouse but the 29$ US commission is pretty brutal...I've been looking to change it to Ameritrade Canada or Questrade? anyone one use these two....please share your thoughts on these two more affordable brokers...especially maintenance fees or other hidden fees....thanks guys.

thetank · 03-16-2006, 03:33 AM

I know how you feel; I pay $25 dollars a trade with CIBC.

SupraSaiyan · 03-16-2006, 04:16 AM

I'm with Credential Direct. $25/trade here too and $4 to set limit.

mhertz · 03-16-2006, 08:33 AM

i've been using ameritrade canada for a few months and it's pretty good. but i'm now in the process of transferring my account over to optionsXpress.ca because ameritrade canada accounts are being transferred to TD Waterhouse brokerage accounts.

optionsXpress, from what I hear and have read, is the BEST online discount broker. barron's had a big piece rating all of them and this one came out on top! so i'm looking forward to begin trading with them.

casperov · 03-16-2006, 09:23 AM

How about Interactive Brokers?

Anyone have any experience with them?

Their trade prices are pretty good, but if you trade over a certain number of shares, it is an extra couple of cents per share. So not so good if you are trading a lot of shares.

mhertz · 03-16-2006, 09:27 AM

optionsxpress is flat rate, no minimum, no maximum.

casperov · 03-16-2006, 09:30 AM

Which service is the best in terms of trading fees for small stocks where 10 000 shares are the norm?

casperov · 03-16-2006, 10:01 AM

Quote:

Originally Posted by mhertz

optionsxpress is flat rate, no minimum, no maximum.

Is that regardless of the number of shares you buy or sell?

Even like 20 000 shares of company XYZ?

nomis_bmw · 03-16-2006, 01:51 PM

Just wanted to ask mhertz why changing to td waterhouse accounts is making you want to change brokers? are they increasing the commission?

I am going to look into optionsexpress...is that for Canadians? Anyone else considering switching to ameritrade or questrade?

Mik3L · 03-16-2006, 02:07 PM

Actually, it looks like TD will be reducing their commisions based on your level of activity: http://www.tdwaterhouse.ca/activeinvestors.jsp

OptionsExpress looks interesting, as does InteractiveBrokers. Might need to switch to one of these in the near future.

mhertz, if you would, let us know your feedback on OE once you get switched over to there.

03-16-2006, 03:15 AM	#1
nomis_bmw new member Join Date: Mar 2006 Posts: 8	Canadian Online Brokers Just wanted to ask the Canadian investors out there which online broker do you use? I've been using TD Waterhouse but the 29$ US commission is pretty brutal...I've been looking to change it to Ameritrade Canada or Questrade? anyone one use these two....please share your thoughts on these two more affordable brokers...especially maintenance fees or other hidden fees....thanks guys.

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03-16-2006, 03:33 AM	#2
thetank new member Join Date: Mar 2006 Posts: 2	I know how you feel; I pay $25 dollars a trade with CIBC.

03-16-2006, 04:16 AM	#3
SupraSaiyan new member Join Date: Nov 2005 Location: Vancouver Posts: 8	I'm with Credential Direct. $25/trade here too and $4 to set limit.

03-16-2006, 08:33 AM	#4
mhertz valued contributor Join Date: Oct 2005 Posts: 632	i've been using ameritrade canada for a few months and it's pretty good. but i'm now in the process of transferring my account over to optionsXpress.ca because ameritrade canada accounts are being transferred to TD Waterhouse brokerage accounts. optionsXpress, from what I hear and have read, is the BEST online discount broker. barron's had a big piece rating all of them and this one came out on top! so i'm looking forward to begin trading with them.

03-16-2006, 09:23 AM	#5
casperov valued contributor Join Date: Feb 2006 Posts: 62	How about Interactive Brokers? Anyone have any experience with them? Their trade prices are pretty good, but if you trade over a certain number of shares, it is an extra couple of cents per share. So not so good if you are trading a lot of shares.

03-16-2006, 09:27 AM	#6
mhertz valued contributor Join Date: Oct 2005 Posts: 632	optionsxpress is flat rate, no minimum, no maximum.

03-16-2006, 09:30 AM	#7
casperov valued contributor Join Date: Feb 2006 Posts: 62	Which service is the best in terms of trading fees for small stocks where 10 000 shares are the norm?

03-16-2006, 01:51 PM	#9
nomis_bmw new member Join Date: Mar 2006 Posts: 8	Just wanted to ask mhertz why changing to td waterhouse accounts is making you want to change brokers? are they increasing the commission? I am going to look into optionsexpress...is that for Canadians? Anyone else considering switching to ameritrade or questrade?

03-16-2006, 02:07 PM	#10
Mik3L valued contributor Join Date: Oct 2005 Location: Toronto ON, Canada Posts: 21	Actually, it looks like TD will be reducing their commisions based on your level of activity: http://www.tdwaterhouse.ca/activeinvestors.jsp OptionsExpress looks interesting, as does InteractiveBrokers. Might need to switch to one of these in the near future. mhertz, if you would, let us know your feedback on OE once you get switched over to there.