Best Bank in Canada? Discount Brokerage Comparison



For more brokerage information or to get a brokerage referral check out the website: http://daytradecanada.wixsite.com/financial-services/brokerages Contact daytradecanada@gmail.com or join Stocks and Options on Facebook https://www.facebook.com/groups/214027355640654/ with any questions or to get a referral to any Canadian brokerage. A comparison of the strengths and weakness of the 5 largest banks in Canada in terms of their self-directed investing brokerages. Identifying the best brokerage options for investors of all levels of trading, from those looking to open their first trading account to active traders who trade for a living. Scotia iTrade, TD Waterhouse, CIBC Investor's Edge, BMO InvestorLine, RBC DIrect Investing (links to each under My Channel About). Please subscribe, share and feel free to contact me for more information on opening an account with ay of these brokerages. Follow Day Trade on Facebook: https://www.facebook.com/profile.php?id=100010156380851 Twitter https://twitter.com/DayTradeCanada and website: http://daytradecanada.wix.com/financial-services

Comments

  1. So I have a few questions about RBC for day trading in Canada

    So if I have $3000 to trade in my account for stocks, and I use that up, and sell high and make money and so now my account is it $3300 will they hold my finds for 3 days if it was all with one stock say TWTR as an example ? also do they have any leverage like 6:1 ? And do they have PDT regulations ? And lastly what is the commission per trade ? I am trying to find a broker in Canada BC here, that will let me make cash and not need a $25.000 account to start with before I can use my own money.
  2. Hi, I def do not recommend SCOTIA I-TRADE. They just deleted my account out of nowhere with out warning. When I asked them why they said it was because there was an error in my phone number on the application!!!! The customer service is utterly useless. Now they want me to send them all kinds off documentation to be submitted for processing.?...and by this time I am already happily using another online broker. I have been a Scotia customer for years to boot. They also have ridiculously expensive fees.I am supposed to call to make a trade until my account is reinstated??? Yeah just like back in the 80's haha....what a waste of time! These guys are jokers. Come back to 2016 and give me my money back!
  3. this is immensely helpful, thank you!
  4. How is trading with rbc, how recent is the data, and how long does it take to complete trades
  5. Yes, the main reason I have an RBC account is because it is the only bank with the $US TFSA/RSP. To a lesser extent I wanted to try the community, but the main advantage to RBC is really just the $US registered accounts.
  6. The biggest perk of RBC Direct Investing is that they have Dual Currency, u can also open up a US dollar TFSA with them, while at this time u cant with anyother bank. I myself am with ScotiaItrade but at that time all banks offered Canadian dollar TFSA only
  7. It is good that you are learning before starting to trade for real. I definitely recommend Scotia iTrade over any desktop program. First of all you can use it on any computer, or even multiple computers without any download other than Java; you can be trading using the FlightDesk application (which is the best trading platform with the most features as well as one click trading), plus an online multiple order entry form, and a mobile device, all at the same time. With most desktop programs you can only use that one program to trade and can only have it open on one device at a time. Plus Scotia has the cheapest trades ($4.99 for active traders) and you can get free trades frequently for signing up or depositing $15,000 or more. If you would like a referral I can refer you to iTrade and you would get some free trades to start.
  8. I am new to trading. Currently trying to learn the ropes before I decide to put real money on the line. I want to be an active day trader. Most sources recommend a desktop program, but you recommend itrade which is a web-based platform. Is it feasible to use this platform for quick trades on a daily basis? Thanks
  9. I briefly tried accounts with Virtual Brokers and E-Trade but they had a lot of data or hidden fees. Personally I recommend Scotia iTrade for ActiveTraders, they have the cheapest comissions $4.99/trade plus free trades for signing up and every time you deposit more than $15,000, their trading platform has the most features, and they have multiple one-click trading order options (plus you only need the internet, not a downloaded program). If you wish to discuss more or would like me to refer you to Scotia so that you can get cash back or free trades if you do decide on them, just let me know on here or you can also message me on Facebook or Twitter.
  10. so it seems none of these are suitable for active traders who need to make quick trades while looking at charts w/ multiple time frames.
    I'm thinking Virtual Brokers might be the best for active traders...what do you think.

    Any experience with them?


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