Investing

Any online broker that charges 0 commission for US stocks?

  • Last Updated:
  • Feb 11th, 2020 6:56 pm
[OP]
Member
May 22, 2019
429 posts
84 upvotes

Any online broker that charges 0 commission for US stocks?

I live in Canada, don't have us green card. Is there any online broker that I can use that charges zero commission for US stock trade?

I use wealth simple for CAD stock trade for zero commission.

Any such online broker for usd trade?
6 replies
Jr. Member
Dec 1, 2019
129 posts
112 upvotes
Questrade can have zero commissions if you buy, under the right conditions.

I bought IJS and IUSV a couple weeks back on Questrade - no commissions.

At first I thought it was an error or something, but then I checked TMX to see what my trades looked like, and it said that it used NSD/NDD as the exchange/market, which was NASDAQ. Questrade doesn't seem to have fees listed for NASDAQ trades. Maybe because it's a dealer market?

https://web.tmxmoney.com/quote.php?qm_symbol=IJS:us

https://support.quotemedia.com/support/ ... group-list

In any case for $0 commissions you should always buy in multiples of 100 and at the bid price.

Selling on Questrade is not commission free.
Jr. Member
Jun 6, 2017
138 posts
216 upvotes
095179005 wrote: Questrade can have zero commissions if you buy, under the right conditions.

I bought IJS and IUSV a couple weeks back on Questrade - no commissions.

At first I thought it was an error or something, but then I checked TMX to see what my trades looked like, and it said that it used NSD/NDD as the exchange/market, which was NASDAQ. Questrade doesn't seem to have fees listed for NASDAQ trades. Maybe because it's a dealer market?

https://web.tmxmoney.com/quote.php?qm_symbol=IJS:us

https://support.quotemedia.com/support/ ... group-list

In any case for $0 commissions you should always buy in multiples of 100 and at the bid price.

Selling on Questrade is not commission free.
You didn't pay commission on these because they're ETF's.
https://www.questrade.com/self-directed ... s-for-free

The only commission free US stock (not just ETFs) option in Canada i'm aware of is WealthSimple trade, but arguably you end up paying for it in currency conversion fees. Questrade and Interactive Brokers (best option for currency conversion) are about as cheap as it gets for us in my opinion, although there may be better option if your trading large quantities (flat fee commissions).
Newbie
Nov 21, 2009
18 posts
1 upvote
North York, ON
my experience in Questrade US ETF buy there is no ecn fee. no idea why someone says they go to clearing company so that orders are internalized rather than going to an ECN. It may results in sub-par executions but at least it avoids ECN fees?

http://forums.redflagdeals.com/shafted- ... #p30778438

that said I don't feel the price execution is sub-par so YMMV. For long term buy (dollar cost averaging) the difference probably doesn't really matter.

I am actually buying VTI/XLK 1 share each daily without fee (no commission/ecn)

TSX buy would result in ECN fee unless you work around it
Last edited by kyxd on Feb 11th, 2020 8:20 pm, edited 2 times in total.
Deal Addict
Sep 19, 2009
2060 posts
860 upvotes
Toronto
kyxd wrote: my experience in Questrade US ETF buy there is no ecn fee. no idea why someone says they go to clearing company so that orders are internalized rather than going to an ECN. It may results in sub-par executions but at least it avoids ECN fees?

http://forums.redflagdeals.com/shafted- ... #p30778438

that said I don't feel the price execution is sub-par so YMMV. For long term buy (dollar cost averaging) the difference probably doesn't really matter.

I am actually buying VTI/QQQ 1 share daily without fee (no commission/ecn)

TSX buy would result in ECN fee unless you work around it
ECN fees do not apply on every trade, they are only charged when a buy or sell order “removes liquidity”.
Jr. Member
Jun 6, 2017
138 posts
216 upvotes
095179005 wrote: @AllanMar

On Questrade you get charged ECN fees whenever you make non-marketable orders or buy at the ask price.

I should have been charged $0.01 and $0.03 on my purchases but wasn't.

https://www.questrade.com/pricing/self- ... ransaction
I’m aware. I don’t consider ECN fees as commissions but I can see how some would. Like others have mentioned ECN are a bit more inconstant in my experience as well. For the qty of shares I buy typically buy I find it irrelevant and don’t give it a second thought.

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