Cheapest online brokers canada
That means a trade would only cost 1 cent per share if you buy between and shares. 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. Finding a broker to match your particular trading style or needs is often difficult, and can be a hit or miss type of operation.
The good news is the field of high quality online discount brokerages has dramatically increased in the last few years. The following online broker comparison contains only the top or the best online stock brokers for , compiled from experience with our user base. Contact us to suggest a brokerage we might have missed. The heavyweight of online brokers in the US also offers some of the best charting and tracking tools out there.
Trade free for 90 days when you open a new OptionsHouse account. Read our OptionsHouse review. More than 8 contracts save 15 cents per contract. Newly merged with Zecco this discount brokerage has an impressive suite of tools including mobile access. Geared towards equities and options traders. Check out TradeKing's video tour for more information on their services and platform. Offshore discount broker regulated by the Central Bank of The Bahamas. Provide a powerful day trading platform, complete accurate real-time data, technical analysis, market tracking and instant updates.
With arguably the most powerful trading platform available, 4 mobile apps, and a brilliant community ToS is fast becoming the go-to broker for new and experienced traders. If learning TA and charts appeals to you, run to this broker. Lightning fast executions in a full service broker.
SogoTrade is also an old favorite of penny stock traders.