Best Brokerages (discount or not)

[TorqueDog]

I've used Questrade a fair bit for self-directed RRSP (based out of Toronto), but I'm looking at SureTrader for my margin account.

[burn_this_city]

I use Questrade, I have no complaints other than them misinterpreting a stop trade order that cost me money.

[Cowboy89]

The Globe and Mail ranks online brokers here:

http://www.theglobeandmail.com/globe...board/follows/

http://www.theglobeandmail.com/globe...board/follows/

[sa226]

I'm currently with Virtual Brokers.

I think its the best commission structure out there right now. I don't have any nightmare stories about funds in or out.

My gripe with them is that sometimes I think there is a collection of monkeys running things.

With them you can automatically wire money into your margin account from your bank. But it is a special request to transfer from your margin account to a registered account. I have had requests go unanswered, thus needing a phone call.

My favorite was when I sent a request to transfer cash from my margin account to my TFSA. The very next morning the transfer was completed which I was quite impressed with. 3 days later I received an email stating that I didn't have sufficient funds to make the transfer.

Doesn't instill a ton of confidence, but I'm sticking with them.

[I-Hate-Hulse]

Originally Posted by fotze

Anyone have opinions on best brokerage to use. I am sure there are threads but are probably stale.

I don't make tonnes of trades but Royal Direct is just annoying me to no end. Phoning them is a game of roulette, its like bartering for a trinket in Mexico. Don't tell me what you think I want to hear, just the truth.

Also, RBC is just always brutal. I have phoned them about a mortgage twice in the past month to be sent to some person's voicemail, left messages both times and never had them returned.

Opened a bank account for my kids hockey team with them. Just brutal.

What I want is
- Not a foreign based helpline/traders. Have to be Canada based.
- Low fees obviously. Zero monthly fee for sure as currently.
- Ease of access to money, both going in our out.
- Would prefer something not obscure, like a known bank.

TD Waterhouse (now TD Direct Investing) meets all these. Great website. Well integrated with their banking platform so you can transfer stuff back and forth. $9.99 trades. Canada based call center. Far better than the ScotiaDirect crap I have to deal with for my wife.

[GP_Matt]

I was looking at CIBC Investor Edge which looks like a great value if you already have business with the bank.
If you have $100 K with them in any account (including a mortgage) you get $6.95 trades. As well, if you have a balance of $10000 in the trading account then there are no monthly fees.

[I-Hate-Hulse]

Originally Posted by fotze

Big pains in the ass is being with PC financial. I just need to get past paying fees for banking....and using interact degenerately.

Most TD banking plans will waive monthly fees if you leave a certain amout as a cash balance. TD's All Inclusive (formerly Select Service) give you a free Travel Visa, Free USD Visa, USD account, Saftey deposit box, free interac if you keep $5K in a cash balance at all times.

[DoubleK]

Originally Posted by I-Hate-Hulse

Most TD banking plans will waive monthly fees if you leave a certain amout as a cash balance. TD's All Inclusive (formerly Select Service) give you a free Travel Visa, Free USD Visa, USD account, Saftey deposit box, free interac if you keep $5K in a cash balance at all times.

Can you keep that cash balance in a savings account?

[Slava]

Just come and deal with a full service broker!

[I-Hate-Hulse]

Originally Posted by DoubleK

Can you keep that cash balance in a savings account?

No, it has to stay in the CAD account, for which you get pretty much next to nothing in interest. Drop a penny below it for the month and you have to pay the $30-40 serivice fee for the month.

Yeah, minimum balances requirements suck and can require some extra footwork to avoid breaching, but do it and you never pay service fees. I totally hate fees, so I'll do what I have to do to avoid them.

[Calgary14]

I use questrade and they've been good. Customer service could be better but their mobile app is great and prices are cheap. I pay around $5.50 per trade

[Deegee]

QTrade

https://www.qtrade.ca/investor/en/visitormain.jsp