Independent Discount Brokers

[SkyRider]

Anybody here have any experiences with independent discount brokers such as Virtual Brokers, Credential, QTrade (are they Questrade?)? I normally only deal with bank owned brokers because I think they are safer.

 

[Liber Pater]

I use both bank and independent.

I've used QuestTrade in the past but didn't like the platform. I think QTrade is different than QuestTrade.

I currently use Interactive Brokers. The platform is dirt cheap for execution and the interface isn't as user friendly as some of the bank interfaces, but its fast and cheap. If you need a lot of hand holding and friendly customer service, Interactive is NOT for you.

I have been curious about Virtual Brokers, but haven't checked them out. They have a simulator that you can use on their platform if you want to take it out for a test drive.

Good luck.

 

[rhuarc29]

I use VirtualBrokers for some of my stock and ETF trades. I'm satisfied with them. Just make sure you read their fee structures to make sure they're right for the type and volume of trading you want to do.

 

[SkyRider]

Are you guys concerned that these smaller independents don't have the support of a big bank in case something goes haywire?

P.S. I have subsequently discovered that QTrade and Questrade are not the same person.

 

[georgetoronto]

no, as long as they are members of IIROC or CIPF, you get protection up to $10 million.