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Author Topic: Canadian Brokers
ursamajor7
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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
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GT500
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Ameritrade Canada

COmmission is 10.99, no minmimums, if you open account with US $2000 you get 30 free trades.

They have an office in Toronto so you can take forms there in person if you're close, and if not just mail them. www . ameritradecanada . com

You can't trade pinks yet but OTCBB is fine. L2 quotes are 9.99/month.

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Money was never a big motivation for me, except as a way to keep score. The real excitement is playing the game.
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ursamajor7
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Thank you GT. I appreciate your quick response and comments. I can't agree more, there is no game to compare to it. Luck in all your plays.
UM7
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GT500
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No problem, good luck to you too.

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Money was never a big motivation for me, except as a way to keep score. The real excitement is playing the game.
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gillies
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a lot of folks i know use tdwaterhouse webroker ya might want to take a look at that too
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GT500
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TD is good, well known..BUT it's expensive, just like any other bank. Very high commission.

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Money was never a big motivation for me, except as a way to keep score. The real excitement is playing the game.
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Junky
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www.questrade.com was a broker i was planning on moving to. its currently down.
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ursamajor7
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This website (Stingy Investment Brokers - www.ndir.com/SI/brokers/discount.shtml#21)gives a good cross secton of Canadian brokers, but, I think that Can. commissions are prohibitive for fast play. One day we may have the same edge the US have. From what I understand you have to be a resident in the US to be able to utilze their brokers. Please correct me if I am wrong.
I have a friend in the states who received software from a brokerage which guarantees immediate execution by pressing one button. From what I understand this is not unusual.
I am with a reputable bank at present, however, I have experienced down time and excessive busy signals with them. As we all know, in our game time really does mean money.
I would appreciate any comments from fellow Canadians buying TSX type stock and how do you overcome these problems aside from submitting preorders fills. Thanks.
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GT500
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Ameritrade Canada is good and I think that $10.99 commission is OK. When you compare that with (aprx) $28-$30 that McLeod/TD/RBC charge it's really good.

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Money was never a big motivation for me, except as a way to keep score. The real excitement is playing the game.
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Paldi
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Can you trade pinks with AmeritradeCanada. thx
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