Quote:
Originally Posted by skins
I know there have been threads on this in the past, but searching yielded no results. If anyone can find one and post a link it would be greatly appreciated.
I'm thinking about opening a TSFA and an RRSP with Quest Trade. Any one here use it? Is it user friendly and easy to make withdrawals? From what I can tell they have the lowest commission rates in the category of less than 30 trades/quarter, plus no annual fee. TD Ameritrade and Scotia I-trade seem like the competition and they charge more for trades at low frequencies.
Basically I'm looking for something with low fees that will facilitate some casual investing. Any help would be greatly appreciated.
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I'm a happy customer. I have a trading account with them and a TFSA.
I do not have any RRSP with them.
Interface is simple and straightforward. The amount of data is simple, with no
real perks. You get real-time quotes and the standard data along with them.
You have access to "news" for each company as well. Your basic account
doesn't get streaming quotes, so you have to build a list of stocks you want
to watch and hit their refresh button. You do get to save your list, so at least
you don't have to rebuild it all the time. If you pay extra fees to them, you get
more perks, like streaming quotes.
You need to be careful when you enter an order. The way you setup your
trade has a variety of clicks, and I can easily see somone hitting buy instead
of sell (or vice-versa). They do give you a confirmation screen before putting
your order in, I always read it very carefully before accepting due to the number
of clicks required.
TFSA is pretty much the same as regular trading, except you have that maximum
of $5,000 in it. It won't let you put more than that in. You can transfer between
your various accounts in cash or in stock. There is no fee for this either.
Reliability is ok. There are times it goes down, but you get what you pay for.
Downtimes are rare, but do occur, and only once have I seen it during trading
hours. They have all been pre or post trading hours downtime.
Trades are priced as they say. Minimum $4.95 per trade, to a maximum of $9.95.
They charge $0.01 per share you trade, up to $9.95. That's it. No hidden fees,
no annual fees, no minimum account fees. So, if you buy 100 shares, you get
charged $4.95. If you buy 1000 shares, you get charged $9.95. Same if you
sell.
Deposits and withdrawls are also quite straightforward. If you find you're having
some sort of problem, I found their online help worked well.
Given all that, I'm satisfied with them.
ers
Good discount brokerage?
