Trading account comparison canada
Surviscor produces the most comprehensive online brokerage analysis in North America. Surviscor reviews Canadian discount brokerage firms who offer online brokerage service to self-directed investors in Canada.
The minimum requirements are: The Canadian Discount Brokerage Review continues to expand. The main categories are:. The firms' percentage score is based on the availability of its offerings as compared to the number one peers in each category.
The review continued to use usage-based criteria questions with a commission model that analyses over 12, individual trades. The study was conducted in June and July of using Surviscor's most recent Canadian online and mobile brokerage features, functionality and service data to support the conclusions. The methodology and results were jointly produced by Surviscor and MoneySense.
CLICK on any firm for more detailed information and educational content. Additional Canadian brokerage firms not mentioned as well as all Canadian banking firms can be found by clicking: The biggest drawback of Interactive Brokers is their inactivity fee. If you pay less than 10 USD in trading fees each month, they will charge the remainder as an inactivity fee. Furthermore, they will charge this amount per account. Lastly, whereas it costs nothing to register an RSP account with either Questrade or Interactive Brokers, it can cost substantially more if you want to hold U.
While an RSP account that can only hold Canadian dollar investments costs nothing, an account that can hold U. Under Virtual Broker's old commission structure, determining which broker was cheapest wasn't so straightforward. But with the commissions changes, I believe Questrade is currently the cheapest out of all the major discount brokerage firms that offer registered accounts.
Broker Interactive Questrade Virtual. If you enjoyed this article, you might be interested in our free newsletter. Enter your email to get free updates. Choi is the founder of MoneyGeek. He has a PhD in financial mathematics, and he worked at a top performing fund for 2 years. Virtual Brokers Questrade vs. This article has been updated to reflect prices as of July 27, Has 2 registered savings accounts RSPs.
This fits the description of someone who makes a monthly contribution to buy one ETF a month. I will also assume that each trade i. Will purchase stocks 4 times a year and sell stocks once a year. I will also assume that each trade consists of shares.