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Best Canadian brokerage firms. Top stock brokers in Canada.
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- Stocks and ETFs: 1 cent per share, $4.95 minimum, $9.95 maximum per trade
- Options: $9.95 plus $1 per contract
- All options assignments are $12.95 flat
- Mutual funds: $9.95
- Gold: $20 per trade
- International stocks: 1% of the trade value (minimum charge of $125 USD)
- Bonds: $30 per trade
- Investment products: stocks, options, mutual funds, international stocks, gold, CNSX securities, bonds, term deposits, GICs, ETFs
- Minimum to open Questrade account: $1,000, $250 to keep an account open
- All Questrade fees
- Good commissions for stock and ETF orders of up to 700 shares
- Cheap mutual fund commissions
- Ability to buy physical gold
- No surcharges for large orders, penny stocks and extended hours trading
- Ability to hold US $ in RRSP account
- Forex trading is available
- Online Trading Academy courses
- Checking account (but with annual fee)
- Customer service needs improvement
- No research reports
- Outgoing ACAT: $125 - most companies charge this fee, but few have it so high
Questrade Review
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OptionsXpress is a US brokerage that upon review and at their discretion will accept accounts from Canada residents.
Although their account opening process is geared toward opening accounts for persons with a U.S. domestic address,
they will review and open foreign accounts depending on the country of residence and at their discretion.
- Stocks and ETFs: $8.95
- Options (active traders): $12.95 for up to 10 contracts, $1.25/contract for over 10 contracts
- Options (non-active traders): $14.95 for up to 10 contracts, $1.50/contract for over 10 contracts
- Mutual Funds: $9.95
- Bonds: $5 per bond, $9.95 minimum
- Futures: 1-40 contracts $6.99; 41-100 contracts $5.99; 101-300 contracts $4.99; 301-1,000 contracts $3.99; 1,001 + contracts $2.99
- Options on Futures: 1-40 contracts $12.99; 41-100 contracts $8.99; 101-300 contracts $7.99; 301-1,000 contracts $6.99; 1,001 + contracts $5.99
- Covered Calls: $22.90 up to 10 contracts
- Penny Options: 1-10 contracts $4.95 flat; 10 + $0.50/contract
- Spreads, Straddles & Combos: 2-10 contracts - $12.95 Flat (active traders) $14.95 Flat (non-active traders); 10 + contracts - $1.25/contract (active traders); $1.50/contract (non-active traders)
- Investments: stocks, options, mutual funds, bonds, futures, options on futures, covered calls, ETFs
- Minimum to open OptionXpress account: $0 for cash account, $2,000 for margin account
- All OptionXpress fees
- Best customer service
- Many well-designed trading tools and cutting-edge trading technology
- Free streaming quotes
- $100 bonus for opening new account
- No fee IRA accounts
- Great research
- Free paper trading
- No money down to open new account
- Free account transfers
- Free instructor lead online classes
- Free broker-assisted trading
- Free dividend reinvestment (contact customer service)
- No platform fees
- Higher than average commissions on stocks and ETFs
OptionsXpress Review
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- Stocks and ETFs: $9.99 if 0-149 trades per quarter; $7.99 if 150+ trades per quarter
- Options: $9.99 plus $0.75/contract if 0-149 trades per quarter; $7.99 plus $0.75/contract if 150+ trades per quarter
- Mutual Funds: $19.99
- Futures contracts: $2.99 per contract, per side + fees
- Investment products: stocks, bonds, mutual funds, futures, options, ETFs
- Minimum to open Etrade account: $2,000 for margin account. For securities accounts (except retirement accounts), an account minimum deposit of
either at least $500 in cash or a deposit of securities is required within 60 days of account opening for the account to remain active. There is no initial minimum deposit requirement for retirement, custodial, or employee stock plan accounts. Accounts not meeting the minimum deposit requirement will be closed after 60 days.
- All Etrade fees
- Very good trading tools
- No IRA account fees, no minimums with electronic statements and confirms
- Minimum to open: $1,000 for cash account, $2,000 for margin account
- Banking products: checking, savings, money market accounts, CDs and credit cards
- No surcharges on large orders, penny stocks and extended hours trading
- Great research amenities
- High commissions on all investment products
- High margin rates
- Customer service complaints
Etrade Review
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