Investing

Locked: National Bank Direct Brokerage - $0 Commissions FOR ALL USERS - Stock/ETF Trades

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  • Aug 26th, 2021 3:50 pm
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Dec 25, 2018
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CanRulez wrote: How many monthly trades do you do with Questrade now?
I did close to 35 trade last Q.
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Nov 11, 2006
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coolgk wrote: I did close to 35 trade last Q.
That won’t qualify you for NB active trader status.

If you currently trade 150+ trades at TD Direct Investing, BMO or similar, then they will automatically code you with active trader status. 35 trades in a quarter isn’t nearly enough.
Last edited by CanRulez on Jul 18th, 2020 11:06 am, edited 1 time in total.
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Dec 20, 2003
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I do about 60 trades a day and cannot imagine being anyhere but IB.
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Hibbing wrote: I do about 60 trades a day and cannot imagine being anyhere but IB.
What kind of trades? Equity? What’s the share count for each trade approximately?
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Otugrapes wrote: Serious question,

I've recently read the wealthy barber and Rich Dad Poor Dad, subscribed to The Canadian Investor Podcast, but I'm still unsure about the best place, for 2020, in our current climate, to learn how to start investing. I understand the ideas, but not how or where to start. I'm someone who has only the most basic experience with financial management, still needs to learn terminology and where to apply it, and step by step methods. Does anyone have any suggestions? Really appreciate any advice or links.

Edit: even a beginner-friendly forum would be helpful!
Read the investing sub forum on RFD and you’ll see lots of websites you can turn to. www.fool.com is a great resource as well.
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CanRulez wrote: What kind of trades? Equity? What’s the share count for each trade approximately?
Mostly equity scalps. Aim to be in and out in about a minute. Trading on the 30 second candle. Shares? Usually 500-2000
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Sep 11, 2017
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Read the investing sub forum on RFD and you’ll see lots of websites you can turn to. www.fool.com is a great resource as well.
I had no idea there was an investing forum in RFD. Thank you!
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Hibbing wrote: Mostly equity scalps. Aim to be in and out in about a minute. Trading on the 30 second candle. Shares? Usually 500-2000
So $5 to $20 in commissions per trade?
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CanRulez wrote: So $5 to $20 in commissions per trade?
Average is .49 a trade.
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Hibbing wrote: Average is .49 a trade.
I was under the impression it was $0.01 per share. Is it actually $0.001 per share?

Edit: I see it depends on the Exchange, whether Canadian or US...also on volume of shares.

It's really dependent on a bunch of variables. When I trade, I trade a minimum of 1,000 shares usually so that's $3.50. I pay $0.95 on NB and get free data. If I trade 5,000 shares, it's also $0.95. On IB, that would cost me $17.50 USD.
IB has better pricing on options but with NB, I pay $0.95 per contract, minimum of $8.20...so slightly above IB for share contracts of at least 7 per trade.

IB has better margin rates though.
Last edited by CanRulez on Jul 18th, 2020 11:26 am, edited 1 time in total.
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CanRulez wrote: I was under the impression it was $0.01 per share. Is it actually $0.001 per share?
Depends on your deposit, how active you are and how long you've been with them.
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Sep 17, 2009
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coolgk wrote: 0.95/trade commission is for active trader and looks like to be an active trader, someone needs to pay regular commission(6.95X100) for a quarter. Am I understanding correctly?

Excerpt from nbcdb site (https://nbdb.ca/pricing.html#tarification)
"To benefit from active investor pricing, one hundred (100) or more transactions in shares, ETFs or commission options must have been made under the same account root in the previous three (3) months (quarter). You must also receive all your documents by electronic delivery. When these criteria are met, the active investor rate is effective on the first business day of the following month. This criterion must be met on the 1st day of each month to continue to benefit from the commission schedule for active investors. This pricing does not apply to transactions made through a representative, although they are considered in calculating the number of transactions made in the same quarter. Legal entity accounts are eligible for active investor pricing but cannot be combined with an individual account for transaction calculation purposes."
Not necessarily. ETF trades are free and count toward 100 AS FAR AS I KNOW/REMEMBER! Was active trader up to about a year agoBut now trading less often.
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DigOffers wrote: Not necessarily. ETF trades are free and count toward 100 AS FAR AS I KNOW/REMEMBER! Was active trader up to about a year agoBut now trading less often.
ETF trades have to be a minimum of 100 shares and ETF counting towards the 100 is a temporary systems limitation/glitch. According to the terms, the trade has to have a commission so once this is fixed, ETF trades will not count.
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Hibbing wrote: Depends on your deposit, how active you are and how long you've been with them.
I was under the impression IB doesn't care how much you brought in. They never have promos. They're global with millions of clients around the world so I doubt they'd care if I had $5M or even $50M.
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May 30, 2017
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What's the cheapest broker to do day trading of options?
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Hibbing wrote: Depends on your deposit, how active you are and how long you've been with them.
Honestly, I'd rather be with TD Ameritrade and use their Think or Swim Platform...it's so much better for options trading since multi-legged option trades are supported.
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arcty5 wrote: What's the cheapest broker to do day trading of options?
IB for Canadian residents. US residents have vastly more options.
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May 30, 2017
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CanRulez wrote: IB for Canadian residents. US residents have vastly more options.
Do they still have the minium $10,000 usd deposit? Or can I use IB with no minimum?
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arcty5 wrote: Do they still have the minium $10,000 usd deposit? Or can I use IB with no minimum?
I believe they have a "lite" version now with no minimum. But seriously, why would you trade options with less than $10,000 USD in your account?
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May 30, 2017
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CanRulez wrote: I believe they have a "lite" version now with no minimum. But seriously, why would you trade options with less than $10,000 USD in your account?
I was thinking about keeping my stock holdings at TD and just adding a small amount for day trading at IB.

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