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TD Waterhouse vs RBC Direct Investing vs Scotia iTRADE?

Which one?

  • TD Waterhouse

    Votes: 8 47.1%
  • RBC Direct Investing

    Votes: 3 17.6%
  • Scotia iTRADE

    Votes: 6 35.3%

  • Total voters
    17
No idea, but something with claiming losses....

The wash sale rule prevents you from claiming a loss on a sale of stock if you buy replacement stock within the 30 days before or after the sale.

Big 5 bank brokers more or less range from 28.95 - 30 electronic online, if you don't qualify quarterly yet. Cant trust small time online ones, at least not moi.
Im hearing many things about good or bad CSR, but ultimately went with itrade TODAY, after McLeod is slowly discontinuing I believe, only 19.99/itrade,
dont have 50 - 100Gs start up. Using TFSA to buy leveraged ETFS....Im with TD, took out 5grand to switch to Scotia next door...

Are FSR reps or most brokers completely familar with their mickey mouse fees, or overall policy? (do u guys mostly research youself beforehand?)
I had a rep at TD last week show me standard commission thru broker, when I CLEARLY stated I wanted online, and the prices were outrageous!!
35/trade and 2 - 6cents PER SHARE thru him.... even standard is $29/1000shares... and im hearing march 1st, its 35 for ELECTRONIC....

Good thing I didn't go through with it, see how Scotia goes, and there might be some ECN fees... soo much to learn/read

good luck.
 

djk

Active member
Apr 8, 2002
5,953
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36
the hobby needs more capitalism
www.thinkorswim.ca (they're now owned by TD but so much better).

Sign up for a paper money account, play with their web and desktop software and then tell me with a straight face that their software is not fucking amazing.
 

wet_suit_one

New member
Aug 6, 2005
2,059
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Actually, BMO Investorline has consistently been rated the best or better than all of the above over the last several years...

I'm just sayin'
 

djk

Active member
Apr 8, 2002
5,953
0
36
the hobby needs more capitalism
Actually, BMO Investorline has consistently been rated the best or better than all of the above over the last several years...

I'm just sayin'
Who's rating them?

From ToS' website:

thinkorswim was rated #1 overall online broker, "best for frequent traders," and "best for options traders" in Barron's ranking of online brokers, 3/16/2009; "best software-based online broker and "best for options traders," 3/6/2006 and 3/5/2007. thinkorswim was evaluated versus others in eight total categories, including trade experience/execution, trading technology, usability, range of offerings, research amenities, portfolio analysis & reporting, customer service & access and costs. thinkorswim topped the list in 2006, 2007 and 2009 with the highest weighted-average score and was runner-up in 2008. Barron's is a registered trademark of Dow Jones & Company © 2006, 2007, 2008, 2009. Supporting documentation for any claims, comparisons, recommendations, statistics, or other technical data, will be supplied upon request.
Barron's is a well respected publication. Anyways, I highly recommend anyone sign up for their paper money account and give them a fair shake. Their software is amazing.
 

His Majesty

Banned
Dec 28, 2009
133
0
0
www.thinkorswim.ca (they're now owned by TD but so much better).

Sign up for a paper money account, play with their web and desktop software and then tell me with a straight face that their software is not fucking amazing.
DJK, Is that website something you'd recommend for a beginner trader ? And is it compatible with MAC computers? (apple)
 

djk

Active member
Apr 8, 2002
5,953
0
36
the hobby needs more capitalism
DJK, Is that website something you'd recommend for a beginner trader ? And is it compatible with MAC computers? (apple)
Yes, they are great for new investors. I started trading with them and have been pleased.

I'm also on a mac and their desktop works perfectly. That's one thing I love about them - they get technology. Their software is available on windows, mac and many mobile platforms. Their web interface is amazing.
 

His Majesty

Banned
Dec 28, 2009
133
0
0
Yes, they are great for new investors. I started trading with them and have been pleased.

I'm also on a mac and their desktop works perfectly. That's one thing I love about them - they get technology. Their software is available on windows, mac and many mobile platforms. Their web interface is amazing.
DJK

Mate, thats for the info. but Im a bit confused, so barrons is the actual trading company but thinkorswim.ca is just the domain name? and they are owned by TD which means they are just as safe as any of the big 5 trade companies?

is there any downsides to this software,cons??
 

djk

Active member
Apr 8, 2002
5,953
0
36
the hobby needs more capitalism
Thinkorswim is an online broker in Canada? First I've ever heard of them.

Who knew? Not I...

They are based in Chicago. TD bought them for 600+ million.

http://www.marketwatch.com/story/td-ameritrade-to-buy-thinkorswim-for-606-million

They've been around for awhile. Lots of positive press online.

http://www.elitetrader.com/br/?action=view&R_FirmID=146
http://www.globenewswire.com/newsroom/news.html?d=161576

Anyways. All I'm saying to anyone interested, sign up for an account, don't fund it and try out their software with paper money. If you're not happy, close the account.
 

djk

Active member
Apr 8, 2002
5,953
0
36
the hobby needs more capitalism
DJK

Mate, thats for the info. but Im a bit confused, so barrons is the actual trading company but thinkorswim.ca is just the domain name? and they are owned by TD which means they are just as safe as any of the big 5 trade companies?

is there any downsides to this software,cons??
Barron's is a magazine produced by Dow Jones which also publishes the Wall Street Journal.

Think or Swim is the brokerage. I've had no issues with them and trust them fully. My only complaint is their commissions are not the lowest out there. For that, you'd want Interactive Brokers. However, IB is aimed more at professional traders.
 

His Majesty

Banned
Dec 28, 2009
133
0
0
I was playing around with the thinkorswim software and it feels a bit complicated, i think this is just because I just started using it.

djk, what are the price per trade for it?
 

djk

Active member
Apr 8, 2002
5,953
0
36
the hobby needs more capitalism
I was playing around with the thinkorswim software and it feels a bit complicated, i think this is just because I just started using it.

djk, what are the price per trade for it?
The software can be overwhelming at first due to being feature rich.

Spend some time watching the video tutorials below:

https://www.thinkorswim.com/tos/displayPage.tos?webpage=softwareSupport&displayFormat=hide

As for commissions - https://www.thinkorswim.ca/tos/myAccounts/displayRates.tos
 

21pro

Crotch Sniffer
Oct 22, 2003
7,830
1
0
Caledon East
depends if you are a high net worth investor or not. for small ... under $100k, any of these are adequate... over that, then you wanna get into something that charges less commission and provides the same and better service.. like Qtrade... not to be mistaken for Questrade- they are the worst.
 

djk

Active member
Apr 8, 2002
5,953
0
36
the hobby needs more capitalism
depends if you are a high net worth investor or not. for small ... under $100k, any of these are adequate... over that, then you wanna get into something that charges less commission and provides the same and better service.. like Qtrade... not to be mistaken for Questrade- they are the worst.
Lower commissions are always good. :)

I recommend InterActive Brokers if you are looking to trade (not invest) and want low commissions.

http://www.interactivebrokers.ca/en/p.php?f=commission&ib_entity=ca
 

21pro

Crotch Sniffer
Oct 22, 2003
7,830
1
0
Caledon East
yep, heard alot of good things about interactive here on terb over the years... but, I haven't figured out how to master trade yet (too me, it's still like gambling)... I buy and hold usually 3+ years per share, but still want the lowest commission and still adequate service.

I practice trading in 'false' accounts and challenges using different strategies that I read about... Not one has lived up to it's claims and provided better results than my 'buy and hold' portfolio that averages over 20% per year since I started back in early 90s.
 

Rockslinger

Banned
Apr 24, 2005
32,783
0
0
Not one has lived up to it's claims and provided better results than my 'buy and hold' portfolio that averages over 20% per year since I started back in early 90s.
The buy and sell people have to make TWO correct decisions. The buy and hold people have to make only ONE correct decision (when to buy). Buy Canadian bank stocks and utilities on dips and you should do fine.
 
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