National Bank Direct Brokerage Thoughts and Experiences?
I'm getting frustrated with the constant service outages at Scotiabank. They had three in the last three weeks. I know there were widespread brokerage outages two weeks ago with the GME fiasco but based on comparing the outage reports online, they took the longest to restore service. And they had another random outage yesterday afternoon. So I'm considering opening an account with another broker.
$0.95 per stock trade for active traders seems attractive. I already have banking products with them.
A few questions for those that have an account:
Have you experienced any outages with NBDB?
Are transfers between bank accounts to the brokerage account instantaneous?
Do they perform a credit check when opening a margin account? How long does the account opening process take if you are already a banking client?
How is their user interface and customer service?
How are their Level 2 quotes? Scotia iTrade provides free data for active traders but their Level 2 is kinda useless for US tickers because they only display the best bid and ask for each market maker and the Nasdaq instead of a more complete order book. So I'm currently using a third party service.
Are there ECN fees for pre-market and after-hours trading?
Do they allow you to trade OTC stocks? If so, do they allow stop loss, stop limit, and trailing stop orders on these stocks?
Any other thoughts?