National Bank Direct Brokerage Thoughts and Experiences?

retireyoung55 wrote: ↑ Seems as though we're hearing a theme of poor customer service for several of the discount brokerages. My experience is that NBDB's service is somewhat better than RBC DI and Questrade which are the other ones I use. Hold times are long if you call first thing in the morning, sometimes you can key in your phone number for a callback rather than waiting on hold. When I've called in later in the day sometimes no option to key in your phone number for call back. I like the free ETF's if you buy or sell 100 shares or more of an ETF. I also like Norbert's Gambit using DLR/DLR.U for no commission.

I don't like the fact that you can't bill pay from online banking into NBDB. You have to link up your account, go to NBDB website and pull in the money and wait a few days for it to clear.

On the plus side the customer service people I've dealt with once you do get through have been very competent and skilled.

EddySaver wrote: ↑ Do you have a bank account with NB or are you pulling in from another bank?

retireyoung55 wrote: ↑ Seems as though we're hearing a theme of poor customer service for several of the discount brokerages. My experience is that NBDB's service is somewhat better than RBC DI and Questrade which are the other ones I use. Hold times are long if you call first thing in the morning, sometimes you can key in your phone number for a callback rather than waiting on hold. When I've called in later in the day sometimes no option to key in your phone number for call back. I like the free ETF's if you buy or sell 100 shares or more of an ETF. I also like Norbert's Gambit using DLR/DLR.U for no commission.

I don't like the fact that you can't bill pay from online banking into NBDB. You have to link up your account, go to NBDB website and pull in the money and wait a few days for it to clear.

On the plus side the customer service people I've dealt with once you do get through have been very competent and skilled.

Here2day2 wrote: ↑ You can bill pay into NBDB. Just search for NBIN and enter your NBDB account number, it’ll post to your account within 1-2 business days.

EddySaver wrote: ↑ Anybody use them?

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?

smartcdn2 wrote: ↑ Before you make any changes, read this thread discount-brokerages-receive-up-8-650-du ... n-2445343/
There are currently BIG BIG promotions to transfer your brokerage account to other brokerages! You can make up to $8,650 doing that!

EddySaver wrote: ↑ Lol, check the thread again, we already talked.

Thanks for bumping up this thread though.

Here2day2 wrote: ↑ You can bill pay into NBDB. Just search for NBIN and enter your NBDB account number, it’ll post to your account within 1-2 business days.

EddySaver wrote: ↑ Thanks, I would prefer instantaneous transfers between NB bank account and brokerage account. Guess NB is behind other banks that way but compensates with lower commissions.

EDL67134234 wrote: ↑ How do you link your bank account to the brokerage to withdraw funds?

I dont see that option on NBDB. It is very easy on Questrade.