Surviscor, an Oakville, Ontario based firm that regularly rates discount brokers is out with its Summer 2009 rankings. The top spot is taken by TD Waterhouse, which edged out Credential Direct in a photo finish. BMO InvestorLine, RBC Direct Investing and Qtrade finished among the top 5. Trade Freedom, Laurentian Bank Discount Brokerage and Jitney Trade were in the bottom of the rankings of 15 discount brokers.
Surviscor also ranks brokers on Customer Email Responsiveness that measures the ability of firms to respond to customer emails in a timely manner. BMO InvestorLine, Qtrade, Disnat Direct and Trade Freedom scored well in this category.
I moved our brokerage accounts to RBC Direct to take advantage of a fabulous incentive last fall and while I like TD Waterhouse better, I find RBC Direct sufficient for my purposes. However, clients who do not have bank accounts with Royal Bank find it difficult transfer funds with RBC Direct accounts.