Greeting all. New on board. Have been dealing through 'indirect' brokers here in Canada for quite a while. Lately I have been more involved in the penny markets since the energy action starting heating up. I would appreciate some feed back if I could find out from any Canadians out there where many of you deal for lower commissions. The US traders can pull the trigger without hesitation considering the low brokerage fees. I know we cannot deal directly from Canada to US brokers but there must be an alternative to our high fees to give us an edge as well. Thanks in advance. UM7
Posted by Paldi on :
Read my mind I was going to ask the same thing, I just got an e-mail from Trade Freedom, $24.95 unlimited shares on the pinks and OTC.
Posted by BCmouser on :
Ameritrade Canada is the best for US trading. 10$ US market orders doesnt matter what the size. You also get 30 free trades for the first month of trading. I think minimum to get started is 1000$ US.
Posted by rockie_luke on :
I was wondering which is better E-trade Canada or Ameritrade Canada.
What are the differences?
Posted by BCmouser on :
For trading US stocks Ameritrade beats Etrade handsdown -just check out the rates for OTCBB market orders. Ameritrade is a flat 10.99 US per trade no matter the size. E-trade had a rate per share on these not real sure what it is for the different exchanges but I guarantee it works out to a substantially higher price. Ameritrade does not however trade Canadian exchanges.
Posted by rockie_luke on :
Thanks Mouse that was what I though. I look at Ameritrade and it look like it didn't have canadian stocks. I would like to be able to trade both. Currently I am with TD Waterhouse but there commissions are too high. I started with them because my RRSP was there. But now I want to do some trading outside my RRSP.
So if I wanted access to both US and Canadian stocks which broker would be best?
Posted by rockie_luke on :
I found another one called interactivebrokers.com. Has anyone use them there comissions are very low.