Shafted by Questrade - recommendations on other brokerages?
Say I place a order for 5000 shares for ABC.TO. Questrade says on their website $9.95 is the max commission, that's a lie. If ABC.TO order gets filled in 3 chunks: 2000, 1000, 2000, Questrade calculates commission on each chunk. Even though trade is fulfilled same day. So total commission may be $15 instead of $9.95.
Small squabble I know especially when gaining/losing hundreds a day, but annoyed that I haven't paid attention.
Anyone have recommendations for a brokerage? One that has truly flat rate regardless of how order is filled?
I misunderstood the fees, @xgbsSS set me straight. Those fees are ECN fees and odd lot fees.
Explanation of ECN fees: https://canadiancouchpotato.com/2014/12 ... -ecn-fees/
Odd lot means placing bid/ask for share counts smaller than multiples of 100 (for example: 1520, 20 is the odd lot).
Questrade has these fees. I confirmed CIBC and TD do not, others probably don't either.
For me, Questrade as a broker doesn't make sense anymore as I do more trading on individual stocks and almost none on ETFs. Also I place lots based on how much cash I have available, and would rather not have to round to nearest 100. So I will transfer.