Canadians investing in US equities should seriously consider Ameritrade for their brokerage account. Ameritrade offers one of the lowest brokerage commissions:
RBC Action Direct: Min. $29.95
TD Waterhouse: Min. $29.00
ScotiaMcLeod: Min. $25.95
BMO InvestorLine: Min. $25.00
CIBC Investor’s Edge: Min. $25
E*Trade: Min. $26.99
Ameritrade: Flat $10.99
You would think that Ameritrade would be the most bare-bones discount brokerage because of its low price. Not true. It offers quick execution, a simple and intuitive web page and also offers free stock reports from Standard & Poor’s.
I am posting this entry because Ameritrade once again exceeded my expectations in a recent transaction. I wanted to withdraw some cash left over in my account, so I logged on and requested a cheque. I was hoping to get the cheque within 2 weeks, but was surprised to see it in my mailbox a mere three days after my request. Now, that was fast!
FD: Other than having a brokerage account, I have no financial interest in Ameritrade. In fact, I own shares in its competitors: TD Bank and E*Trade.
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