Investments: Online broker

[dmtx]

Gents, just wondering what you guys are using for online trading. I'm just currently using TD Waterhouse but I would like to do some quicker trades so I'm looking for a better broker with cheaper commission. I've heard some that offers $9.99 per trade but I just want to hear from someone who are currently using those. Please let me know.... cheers...

Thanks in Advance...

[benyl]

most places only offer $9.99 per trade if you are an active trader. that usually means 30 trades or more per quarter.

[Strider]

Has anyone tried www.tradefreedom.com ?

Looks like they offer $9.99 trades with no account or trade minimums + realtime quotes and their own trading platform.

I'm filling out my application form as we speak, but I'm not 100% sure I should go with them.

[Fish n Chips]

I am using TradeFreedom. They are excellent in price ($9.99 as advertised without fine prints). Their trading platform is real time stream data feed. You get also tier 2 data (bid/ask price line up screen). If you buy shares at market price, you get a confirmation in seconds. Best part is their service & support.

Try it. You will move all your trading and RSP to there shortly given that your trading commission is cut 93% compared to say RBC's online trading.

[Whitetiger]

With Etrade, if you hold more than $50,000 with them, it'll be $9.99... no qualifying for the 30 trade thingy. (as long as you have this amount in cash, equity, etc... with them)

Originally posted by benyl
most places only offer $9.99 per trade if you are an active trader. that usually means 30 trades or more per quarter.

[snoop101]

You should check out questrade.. I switched to them and love it. 9.99 trades... Let me know if you go wityh them and I can refer you and get you $50 in free trades.

[2fast4me]

www.interactivebrokers.ca

[aklalani]

just transferred to trade freedom. hopefully all goes well

[hjr]

http://questrade.com/index.html

gooooood prices. GOOOOOOD. nice format. quality company

[Schwa]

Bumping this thread...do you guys still like tradefreedom?

Question is what are the charges to get L2, and can you transfer funds electronically from your bank account to the trading account?

[EG STyLeZ]

Originally posted by Schwa
Bumping this thread...do you guys still like tradefreedom?

Question is what are the charges to get L2, and can you transfer funds electronically from your bank account to the trading account?

I just transferred from CIBC Investor's Edge to TradeFreedom. Just so you know, they offer FREE "Level 1 3/4" quotes (https://www.tradefreedom.com/en/trad..._134_popUp.asp). And yes, you can transfer funds electronically, you just have to set them up as a payee on your bank account.

[Schwa]

Thanks, I did more reading on that site and found some answers. Last newb question, how do you take your money out of the trading account?

[EG STyLeZ]

Originally posted by Schwa
Thanks, I did more reading on that site and found some answers. Last newb question, how do you take your money out of the trading account?

I did a transfer out from CIBC.

[Canmorite]

Originally posted by Schwa
Thanks, I did more reading on that site and found some answers. Last newb question, how do you take your money out of the trading account?

You can set it up with your trading account, and link it electronically to your bank account. Depends from broker to broker, call them and they will have the answer.

[Schwa]

Okay, my big issue is how quickly I can have the funds back into my chequing account should I make a big profit.

The reason I have Action Direct is mainly because everything is tied in and I can have the funds back into my account basically the next business day.

Just concerned about how quickly these online brokers move funds.

Also, is there any reason NOT to have a margin account since it doesn't cost extra?