Investing

Online Brokerage Rankings (Globe and Mail 2019)

  • Last Updated:
  • Oct 9th, 2019 3:59 am
Member
May 5, 2016
334 posts
320 upvotes
I'm surprised at the complaints about TD, my TFSA is with them and its been a good experience. Their customer service especially has been solid, never really felt the need to go for another discount brokerage considering i only make a few trades in the TFSA, mostly ETF's.

I also have a regular account with Interactive Brokers and its been great, like others have said you really need to know your stuff before you start trading on IB. I made a mistake of purchasing USD stocks but didn't make a corresponding currency trade so i got charged unnecessary interest for a couple of months before i noticed it, but it was my fault for not knowing that stuff. The thing about IB that is most surprising is how easy it is to get someone on the phone to help you, despite it being considered an "advanced" platform. The agents were really good at explaining some of the quirky things on IB that i didn't understand like the virtual FX positions.
Deal Addict
Jun 3, 2009
4699 posts
819 upvotes
Montreal
alanbrenton wrote:
Feb 11th, 2019 2:16 pm
besides margin calls, when else does IB liquidate positions? That's kinda concerning.
If you find margin call liquidation concerning, maybe you are borrowing too much on margin or trading uncovered options which isn't a concern most people have.
Deal Expert
User avatar
Apr 21, 2004
50626 posts
15421 upvotes
cn_habs wrote:
Feb 11th, 2019 3:48 pm
If you find margin call liquidation concerning, maybe you are borrowing too much on margin or trading uncovered options which isn't a concern most people have.
Got it. IB will liquidate without giving one a heads up.

I misread Ruchir's initial post.
Deal Addict
User avatar
Apr 23, 2009
1691 posts
642 upvotes
alanbrenton wrote:
Feb 11th, 2019 3:49 pm
Got it. IB will liquidate without giving one a heads up.

I misread Ruchir's initial post.
Ops sorry - I should have been clearer. You will have no issues if you borrow within limits.
[OP]
Deal Addict
Aug 17, 2008
2727 posts
1713 upvotes
Interactive Brokers mobile app has a few updates today. If you have every used their ChartTrader on a desktop, the updates to the mobile version might be something to look forward to. I was testing the 3D touch part on the attachment.

via IB
* Introducing a new Order Type – MidPrice. Get the best balance between price and speed.
* Introducing ChartTrader, an intuitive and powerful way to set order pricing from your chart.
* Open from the Order Entry Screen
* Or use 3D Touch on the chart itself to quickly define a limit order
* Now view Instrument Details and place orders directly from Calendar Events
* Full screen width on the new iPad Pro is now supported.
* Debit Card access has been moved into a banking menu.
* The Services screen is now easier to access from within a trading session. The Authenticate and Debit Card buttons have been relocated to this menu.
Images
  • CAF50811-2C0F-495D-B286-C0609457EE7A.jpeg
Deal Addict
Jul 30, 2015
1997 posts
992 upvotes
Toronto, ON
ruchir wrote:
Feb 11th, 2019 10:58 am
TD is ranked number 1 and IB is rated B+ says it all.

IB is rated B+ because It's too hardcore for rookie investors? Is that a positive or negative? Confused.

Extremely low fees
Almost zero Forex spread (you get spot rate....almost).
Option fees are ridiculously cheap
Extremely robust trading platform
Reporting tools are second to none

Can't think of any negatives.....except that their customer service is very bland. And they don't give a shlt about liquidating your account without margin calls. That can be a problem for some people.
Can you explain what you mean by that?
Deal Addict
User avatar
Apr 23, 2009
1691 posts
642 upvotes
canoek wrote:
Feb 12th, 2019 11:52 pm
Can you explain what you mean by that?
IB does not give you margin call or warning - they just liquidate your positions if you don’t have sufficient liquidity to carry margin loan.

Other brokers will typically issue margin calls and most will give you 24 hours to meet margin call.

Just note that in a market crash situation - any broker can liquidate without giving you margin call.
Deal Expert
User avatar
Apr 21, 2004
50626 posts
15421 upvotes
It seems IB allows account opening from many countries as well.
Sr. Member
Jun 25, 2001
565 posts
120 upvotes
Kitchener, ON
What's the best promo/brokerage for transferring in an RRSP and Spousal RRSP (two accounts) valued at around $200K? I'm thinking Scotia iTrade for the $500 bonus, but would appreciate other thoughts.
Member
Aug 1, 2014
219 posts
59 upvotes
They probably didn’t take platform availability in consideration before giving A- to TD
Deal Addict
Oct 21, 2014
1212 posts
1351 upvotes
Burlington, ON
Don't know why HSBC InvestDirect always gets hit so hard in these surveys.

They did improve the site a lot recently, and as well the holdings in your InvestDirect account count towards your premier status. That means it's possible to have a no-fee chequing account without having to hold basically any cash in the bank at all, so long as they hold your brokerage account and it exceeds $100k for premier or I think $5k for advance - that's huge. Yes there's no investdirect app but do people really buy and sell stocks from their phone that much?
Member
Feb 13, 2008
410 posts
136 upvotes
Edmonton, AB
After twenty years with RBC DI I am thinking of switching to Qtrade. Lower commissions and 100 free (sector?) ETFs. At least they have HXT.

I HATE the TD DI website. I find it takes too much time to navigate.
Deal Addict
User avatar
Feb 1, 2006
2599 posts
658 upvotes
Ontario
Gungnir wrote:
Feb 20th, 2019 9:10 am
Don't know why HSBC InvestDirect always gets hit so hard in these surveys.

They did improve the site a lot recently, and as well the holdings in your InvestDirect account count towards your premier status. That means it's possible to have a no-fee chequing account without having to hold basically any cash in the bank at all, so long as they hold your brokerage account and it exceeds $100k for premier or I think $5k for advance - that's huge. Yes there's no investdirect app but do people really buy and sell stocks from their phone that much?
Maybe because they still don't have USD registered accounts. Hello HSBC InvestDirect, it's the year 2019! Get with the program!
Cards:HSBC WE MC 1.5%/3% travel 0 FX MC acceptance 31 day med AF $49
CTC WE MC 3% grocery, 3.54% CTC, RA, billpay
Bank: Alterna (2%+, no fees)
Brokers: IB (For. stocks/low comm)/Reg. RBCDI(service, USD)
Sr. Member
Feb 5, 2017
578 posts
331 upvotes
cocotheparrot wrote:
Feb 20th, 2019 6:34 pm
After twenty years with RBC DI I am thinking of switching to Qtrade. Lower commissions and 100 free (sector?) ETFs. At least they have HXT.

I HATE the TD DI website. I find it takes too much time to navigate.
seriously, if there is something that TD does well, it's the webbroker interface and the advanced dashboard..
Penalty Box
Apr 27, 2015
1331 posts
255 upvotes
alexcalvado wrote:
Feb 20th, 2019 10:46 pm
seriously, if there is something that TD does well, it's the webbroker interface and the advanced dashboard..
Comparing to CIBC IE TD "webbroker interface and the advanced dashboard." is disaster
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