Trading method
 

Hi all, I am sick of paying $30 for trades with TD Waterhouse.

I want some input as to what discount brokerages in Canada you have had success with.

I thought e*trade would work, but it seems to only work for A'mericans. lol.

TIA!

I use quest trade and its not bad. Trades are between 4.95 to 9.95
Questrade Canadian Discount Broker | Online Stock Trading | Education

Can take maybe up to 2 weeks to setup an account though. They have to verify your identify by asking your old financials. I failed mine since I just dont remember details from years ago and had to print out a form, sign and send it over to TO. I think they have a office in metro tower where you can go and just drop off your paperwork as well during office hours.

Since quest trade isnt tied to your bank, you will have to transfer your money over to them. Which usually takes 2 full business days. With TD, its pretty much instant / or the next day.

They are also starting in the fall a inactivity fee if you have under 5000$ in combined equity in all accounts. If you don't make at least 1 trade that month, you get charged 10$ fee.

Questrade effing blows. They'll work fine for months and out of no where, will randomly fuck shit up. I transferred from my TSFA to my RRSP leaving a 0 balance in my TSFA. In their wisdom, they decided to suspend ALL my accounts. They kept telling me that it'd be fixed 'next business day'. Took them 2 weeks.

I also tried their new trading platform which sucked and was buggy. Wanted to transfer back.. whaddaya know, my account got locked again. Took them another week to resolve.

Oh, did I mention the response times for their stupid chat takes forever?

I switched over to BMO and have been happy with the service so far. Flat $10 trades. Most major banks offer those flat $10 trades now.

I use Interactive brokers. USD 0.005 per share.

To get 10 dollar trades, you need at least 50k in your combined family trading accounts and assets