Investing

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

  • Last Updated:
  • Aug 26th, 2021 3:50 pm
Jr. Member
May 16, 2017
149 posts
73 upvotes
Oakville, ON
deal_with_singh wrote: I do a lot of options trading and quick turn around trading playing volatility on stocks like TSLA, my issue is I heard IB charges extra $$$ on anything you want to add like streaming quotes, realtime, level 2, charting, etc.

On the options side, I've been told IB tries to get away with doing the trades internally as they have so much volume internally which can result in not getting a fill.

Its the main reason I've been sticking with TD, my fills on the ask when selling and bid when buying mostly fill.
What would you recommend for a basic trader including options?
Deal Addict
Nov 11, 2006
1332 posts
856 upvotes
777canadian wrote: What would you recommend for a basic trader including options?
It will depend on what types of option strategies you will deploy. One big difference is the cost for options assignment and exercise. IB charges zero, whereas some brokerages charge full service rates for both options exercise and or assignment. The fees for this can be astronomical so buyer beware!

Before I moved to NB, I negotiated my options exercise and assignment fees to match TD’s $15 rate.

BMO charges full service rates so I left. An options assignment with BMO would have ended up costing me several hundred dollars on a single options trade on one of my larger holdings.
Sr. Member
Nov 26, 2002
605 posts
33 upvotes
Western Canada
CanRulez wrote: How do you place your trades? Web platform or on Market-Q?
Market Q.

Status changed from "waiting" to "processing" and sometimes back to "waiting" for quite a while (total of 20-40seconds) and then "open" for 1-2 seconds before "filled".I have to keep hitting refresh to get the status up to date...

Something is making it slower than other brokers.

Do you experience the same? I do multiple trades a day. So I feel it. Some stocks are instantaneous but spy needs time. Strange...
Deal Addict
Nov 11, 2006
1332 posts
856 upvotes
Master wrote: Market Q.

Status changed from "waiting" to "processing" and sometimes back to "waiting" for quite a while (total of 20-40seconds) and then "open" for 1-2 seconds before "filled".I have to keep hitting refresh to get the status up to date...

Something is making it slower than other brokers.

Do you experience the same? I do multiple trades a day. So I feel it. Some stocks are instantaneous but spy needs time. Strange...
I do find it frustrating as well. Sometimes, I'll place an options trade and the specific option hasn't been loaded into the system. So it will stay waiting for quite a long time as well.

Another time, I found out my account has been frozen because NB claims they haven't received all my documentation. And this after confirming with my account manager that all documentation has been received.

I have a dedicated account manager assigned to my account so I can only imagine the frustration being 10x worse if you aren't as lucky to be in that program.

Edit: I just placed a covered call on Market-Q and my trade immediately went to "waiting" mode....2 minutes and counting....brutal.
Deal Addict
Jul 7, 2013
1225 posts
1566 upvotes
For anyone familiar with NBDB, do they have a money market fund? New to them so appreciate any insights...TIA!

I just want to use the money market fund as a placeholder in btwn trades, a relatively safe place to stick funds and earn a bit of interest.

cheers,
:)
[OP]
Deal Expert
User avatar
Feb 11, 2009
19393 posts
8085 upvotes
Toronto
Forgot I had this thread, just updated to reflect that national bank now the first Canadian Bank to offer commission free trading!
Realtor - Investment Properties
Newbie
Dec 14, 2015
56 posts
58 upvotes
Edmonton, AB
When the product is free, YOU are the product.

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