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Daytrading, paper trading help

  • Last Updated:
  • May 22nd, 2020 9:18 pm
[OP]
Newbie
May 21, 2020
1 posts

Daytrading, paper trading help

Hi there,

Just looking for some guidance on starting day trading at home. I've been an investor with Questrade for many years, have tried day trading when I was in university with a firm, found it hard and quit after a few months, just now wanting to get serious about learning how to day trade at home. My issue is in finding the most economical way to paper trade with real time data. Here's what I've gathered so far:

Questrade - paper trading doesn't support real time data, or so it seems right now, I'll contact customer service tomorrow. IQ edge also seem to suck, but their variable commission rates and data fee reimbursement seem interesting for later when trading real money.
TD think or swim - supports real time data in paper trading if keeping 5K USD in live account, but anyone knows if there's account inactivity fees? Also, exchange rate super high right now, so would like to avoid it if possible. The platform seems good but commission super high for Canadian, not really viable for when trading real money later.
Interactive brokers - paper trading with real time data possible if keeping 2K USD equivalent in account and pay the data fee. Don't really know much about their platform but I heard they have many hidden fees. Also has monthly account fee of 10$, but that's kind of negligible. Commission rates very competitive but heard that orders can take a long time to fill at times.

Just wondering if anyone can give me some advice, or know anything about other platforms that might be superior or more economical? Oh, also looking to day trade US stocks only.
Much thanks in advance
1 reply
Sr. Member
Feb 11, 2009
560 posts
144 upvotes
RBCDI provides free real time data for all accounts with no minimum balance I believe. Might need to just use that and then papertrade on QT?

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