Quote:
Originally Posted by CanadianChiefs
I like it because I'm Canadian and big banks gouge the crap out of me. I used to be with TD and pay $10 per trade, now I pay $4.99 with Questrade.
TD bank did not offer aftermarket/premarket trading without literally having to call them or having a 25k balance in your account/ 300$ a month data package or something. It was annoying because most news is released after 4pm.
Questrade has a better layout, better price on options for me (rarely trade them but it's nice). And they have a data package with real times quotes for Nasdaq, TSX, etc for like $20 a month or free with I think $49.95 commission, so 10 trades a month and it's free.
Their customer support is amazing, they offer a live chat which really helps. Withdrawing money is simple, as is funding. Just direct deposit and you're set.
EDIT: With Questrade I can trade OTC as well, TD and some other large institutions make it harder than it should be, especially trading smaller cap-companies.
Another MASSIVE plus for Questrade is that if Canadian, you can use your tax-free savings account to trade but you can hold Canadian AND American dollars in it. This let me settle trades in american dollars. With TD you could trade in US dollars but the trade would settle in Canadian and I would have to exchange it again. This let TD take a bite out of my money with their commission on every exchange. If I gained 3% on a trade I would lose it on the exchange. It wasn't worth it.
|
Did you ever look at Trade King? The attraction to TD is their commission free ETFs.
Great info too. I just liked Stock Twits on Facebook so I can follow them now. Thanks.