I currently do all my trading online with one of the big banks and have been quite satisfied with the services, research reports and functionality of their systems. However, I recently sent in an application to open a Questrade account. I plan on using this account to buy securities that I don’t plan to hold forever ie- any cyclicals.
For those of you that are looking into a discount DISCOUNT broker Questrade has the following 2 account options available.
1. $4.95 Plan – this plan charges $0.01 a share (minimum charge of $4.95 a trade).
2. $9.95 Plan – this plan charges $9.95 a trade for an unlimited amount of shares.
Personally I went with the $4.95 plan because I don’t really dabble in penny stocks and would rarely be buying over 500 or 1000 shares in one shot.
I’ll let you know what I think about the account once it’s setup.