Canadians - Where do you buy your stocks?
 

Canadians - Where do you buy your stocks?

I do it online through my tdwaterhouse account.

What sort of fees/commision do they charge?
I noticed RBC do something similar where you can do it online. Direct investing I think it's called.

td is expensive so is rbc. royal advertises rates at 6.95-9.95 but thats either if you do more than 20 trades a month or if you have 50 g's in the account. I'm under those numbers so it ends up being 28.95 a trade which sucks.

i'm looking into questrade right now.. seems a bit cheaper.. like 9.95 a trade max plus 1 cent per share.

Worth noting. Probably won't be anywhere near that either. Pretty big chunk on fees there.

Yeah Questrade does look good, pricing seems low enough and probably easy to use. Might try them out :thumbsup

yeah i haven't really known anyone to use that one, but I would imagine everything is on the up and up.. etrade is so much better it seems.. so many deals with those guys. We can thank the bank of nova scotia for buying out the canadian rights to that one. Wouldn't be so bad if they offered something similar but no... 28.95....

As Glen said it works out to about $7 a trade. You need to qualify for that rate through x number of trades per month or a min balance.

I find it convenient as TD has all my banking, transferring into my brokerage account is easy so the extra buck or 2 a trade doesn't make a difference with the convenience.

I use questrade.com and interactivebrokers.ca
each for different account type and trading strategy
Like them both

for sure, i'd rather do all that with the bank i am using but at this point it would eat too much into any gains so have to go the cheap route for now ;)

Yeah that's true. I'll probably try the RBC one out atleast and see what the fees look like when you actually use it. Might work out ok and be easier than setting up an account with another company.

pretty sure its 28.95 per trade unless doing over 20 trades a month or more or 50k in the account. I signed up about a month ago.

It says $9.95 when you have $50,000 balance or do 30-150 trades per quarter.

30 trades per quarter might be easy enough to do.

ahh 30 per quarter.. my bad...

Yeah, that's probably an easy enough amount to do and keep the costs down.

Over 150 trades per quarter and you get the lower rate.

trading that often would completely go against my strategy so definitely wouldn't suit me.

Depending on how often you trade, Questrade is a good option when it comes to pricing.

I used to work for them and they are a good and legitimate company.

Trades are $4.95 min and $9.95 max at $0.01 a share.