Seeking Advice for 1 large long term stock purchase (which broker to use)

[dte227]

Hi,

I've decided I want to buy stocks of a certain company and planning to sell them in 2~5 years.
Problem is that I don't want to be hit by inactivity fees, administrative fees, etc.. AND also have minimal withdraw fees (I know VB is $50).

I've ruled out questrade (because of inactivity fees).

Any suggestions on which broker to use?

PS: i was thinking TD Waterhouse OR Virtual Brokers.

Thank you in advance.

[Daf]

If u have over 10,000$ in assests Itrade waves the fees. Just found that out!

[sparxtrading]

Depending on how "large" that stock purchase is, you might not need to worry about the 'inactivity' fee at Questrade or several others that waive those pesky monthly/quarterly fees based on account balance. FYI Questrade's threshold is $5000 in equity, which is half of iTrade's threshold. What you probably want to consider is if you want to make an infrequent purchase/sale, you don't want to pay too much for a commission, especially if it is a sizable purchase you're making. You'll want someone that will provide you with a low, flat (ideally) or capped maximum commission (again depending on how large the purchase is). For that reason you might want to reconsider Questrade, because if your purchase is under $50 000, the standard commission rates across the board might be quite hefty when you want to sell out of a large position. Lastly, just because a company has no inactivity fees today, doesn't mean that won't change in the future (as the case was with Questrade this past year introducing inactivity fees), so be sure to note the fee to close/transfer an account elsewhere should the terms of service change along the way. In this pricing environment, 2-5 years is a long time. Of course, if your investment pays off in spades and the stock value goes through the roof (let's hope it does) then whoever you go with might be open to giving you some incentive to keep your business with them ;)
Hope that helps.

[matthook]

Just an opinion here, but if you have a very "large" amount to invest... i would NOT invest it all in 1 stock. At least find 5-8 really good looking stocks from a few different sectors if you are looking for a long-term buy.