Personal Finance

Which investment broker / institution to go with?

  • Last Updated:
  • Apr 13th, 2012 12:11 am
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Sr. Member
Dec 8, 2005
786 posts
28 upvotes

Which investment broker / institution to go with?

Hi,

I am starting out, I'd like to buy some stocks, but I am not sure which investment institution to go with...

I checked RBC/BMO, they require a minimal amount of trades per quarter to be illegible for 9.95 per trade. I've also checked virtual brokers and questrade.. but would like to hear your opinions.

I'd like to start out with 5k, and see how things go..still learning, reading.

Thanks
3 replies
Sr. Member
User avatar
Aug 10, 2005
596 posts
54 upvotes
I've been using Questrade for a few years. I signed up for their basic account which doesn't have any monthly fees. Here's a quick breakdown of their fees:

$0.01/share but they charge a minimum of $4.95 and a maximum of $9.95 per trade. Therefore, if you purchase 100 shares of XZY, Questrade will charge you $4.95 for that trade. If you would have bought 10,000 shares of XZY then the fee would be $9.95. The same fees apply for selling shares.

Questrade also charges an ECN fee. It works out to $0.0035 X amount of shares. For every 100 shares you buy or sell you'll be charged $0.35.

Some people have reported problems with this brokerage but I haven't had any problems.
Sr. Member
Dec 8, 2005
786 posts
28 upvotes
I will most-likely go with questrade, since TDW is more expensive, especially when starting out.

Thanks

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