I asked a serious Penny Day Trader in Canada, and she said she uses TradeFreedom. She said they use Penson, who is the biggest clearing house. She said you don't want to use waterhouse, Etrade, or Ameritrade...because they use their own to confirm your trades. Tradefreedom is a direct access broker. Plus they don't cease trade stocks for nothin and the security on your account is better.
posted
I've been researching this quite a bit. So far the best I've found is www.qtrade.ca but I have yet to open an account there. Or find anyone else who does have an account there. Let me know if you find anything else. I'm rather sick of TD Waterhouse.
Posts: 23 | Registered: Oct 2006
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posted
I just got an e-mail back from Qtrade - You can go straight to Active Trader with the proper paperwork.
Hello Mr.
Thank you for your email and your interest in Qtrade.
Our Active Trader Program is based on a quarterly (90 days) re-qualifying basis. Since your account is not with us, we would certainly be able to consider your request by qualifying you with your existing account. At the time of account opening please provide us with a copy of a statement(s) showing a minimum of 30 online equity/or option trades within the past 90 days .
Please feel free to contact us if you have any further questions.
Posts: 23 | Registered: Oct 2006
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posted
But the reason I was told Tradefreedom.com is like the best for Canadian traders, is because it's direct access and it uses Penson(the biggest clearing house). You get the quicker fills.
Plus their trading Platform is pretty Badass
Trade stocks listed on the TSX, TSXV, NYSE, AMEX and NASDAQ, including OTC Bulletin Boards (OTCBB) and Pink Sheets.
Because TradeFreedom is committed to offering our clients the best execution for your orders, we provide direct access connections to all major exchanges and ECNs. You have the choice to route your orders directly to one of the major ECNs and electronic exchanges – or select TradeFreedom’s Intelligent Auto Routing algorithm (FAST) which scans the market to determine the best Execution Venue for your trade order.
In addition, TradeFreedom provides you with a number of advanced order types which provide for greater control and flexibility in placing your trades.
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Tradefreedom is too expensive, especially for penny stocks. All of these brokers that charge $10 base charges are too expensive these days. Furthermore, with a company like Tradefreedom who boasts a sophisticated administrative structure, I doubt your interests are their top priority. Let's cut the crap, brokers can greatly affect your performance.
You want a company concentrated on traders' interests, and not on its clients' money. And that broker is Interactive Brokers (IB):
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