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north
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what are some good canadian online brokers?


Posts: 3 | Registered: Sep 2004  |  IP: Logged | Report this post to a Moderator
Kracker
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quote:
Originally posted by north:
what are some good canadian online brokers?


Hi north,
I've looked at many brokers, and the options for you are few.
Most if not all U.S. online brokers will not let you open an account if you are Canadian. Others do not offer the option of trading on the TSX.
The simplest solution is to trade through your bank's online trading service, but get ready to pay pretty big fees.
I don't know of too many discount brokers in Canada (and I have looked). I think the best I've found is Trade Freedom. If you want to trade above 1$ stocks, their fees are lower than the banks, and their platform and speed of execution are very impressive. If you're gonna concentrate on pinks, their fees may be too high,as there is a "per share" supplement.
Check out their web site (Google it), if you have any question, call them directly, they are very helpful.
If you find any other options that appear interesting, please let me know. Still looking.
K.


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north
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Thanks Kracker..
what your options on etrade.ca or ameritrade.ca?

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Kracker
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quote:
Originally posted by north:
Thanks Kracker..
what your options on etrade.ca or ameritrade.ca?

Ameritrade Canada may be a good option if you're gonna be trading only U.S. equities. It will not let you trade on Canadian markets. Beware of supplemental fees (read fine print on web site). Also remember fees are in U.S. $$
ETrade Ca, I think, has alright service. They have a fee of 27$ per trade (minimum), and will let you trade Canadian and U.S. equities. Most people don't realize that you pay CA$ fees on Can. equities and US$ fees on U.S. equities! So that's roughly 33$ on U.S. trades. Although their fee schedule is not great, it is amongst the best I could find, 'cause there are so few options.
Again take a careful look at Trade Freedom and let me know what you think. The only major problem I could find is that, for the moment, they will not accept standing orders. You will have to re-enter your orders after every trading day. ETrade is the same for pinks. I spoke to the Trade Freedom people, who assure me they are working on providing this option.
Good luck
K.


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