Online stock purchases.........anyone had any experience in this?

[Doctor Zoidburg]

I would like to open a online account to purchase small speculative stocks. I have a brokerage account, but I prefer to keep it for my long term holding, and do my trading on the online account.
Does anyone have any experience with Green Line or other such trading accounts? Is there a minimum amount that needs to be in the account? What are the commissions to trade in and out, is there a charge for stocks that are purchased but are not traded and kept dormant?

 

[great bear]

Check out Scotia on line, they have answers for most questions like yours.

 

[hambone]

Green Line does not have a minimum, but if you maintain a 25K balance they waive the $100 annual fee

 

[damien666]

$9.95 trades

Hi Doc

E-Trade Canada offers $9.99 trades and RBC Action Direct is also introducing a similar structure. They both require you to have made 30 equity or options trades during the immediately preceding calendar quarter. Also you need to qualify each quarter.

If you do not intend to trade lots, then you should check out CIBC's Investor Edge. I think their fees per trade are $25 compared to RBC Action Direct's 29.95 However the CIBC rate goes up to $28 + change if your trade is not a market trade.

By the way, you get good research from CIBC from their own CIBC World Markets as well as Standard & Poors reports.

Good Luck.

666

 

[danmand]

TD Waterhouse just introduced their reduced fees, which are quite competitive. $9.99 if you have more than 150 trades per quarter, $14.99 if you have more than 30 trades per quarter (certain conditions apply lol).