Comments on: Watch out for higher discount broker fees http://www.canadiancapitalist.com/watch-out-for-higher-discount-broker-fees/ Helping you invest and prosper Sun, 12 Feb 2012 00:54:40 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Comment on Watch out for higher discount broker fees by Watch out … | Looking for FOREX? http://www.canadiancapitalist.com/watch-out-for-higher-discount-broker-fees/#comment-191497 Comment on Watch out for higher discount broker fees by Watch out … | Looking for FOREX? Thu, 14 May 2009 21:06:24 +0000 http://www.canadiancapitalist.com/?p=1461#comment-191497 [...] the original post here:  Comment on Watch out for higher discount broker fees by Watch out … Written by Jo Sal in: discount broker | Tags: discount broker, freight-loads, original, [...] [...] the original post here:  Comment on Watch out for higher discount broker fees by Watch out … Written by Jo Sal in: discount broker | Tags: discount broker, freight-loads, original, [...]

]]> By: John Richardson http://www.canadiancapitalist.com/watch-out-for-higher-discount-broker-fees/#comment-170564 John Richardson Wed, 26 Nov 2008 21:59:29 +0000 http://www.canadiancapitalist.com/?p=1461#comment-170564 I have looked at these 6 banks. Scotia Bank, HSBC, TD Waterhouse, CIBC Investors Edge, RBC Direct Investing, and BMO Investor Line. Not sure of what Scotia Bank and HSBC offer. - TD Waterhouse offers $100,000 investment and $9.99 trades and 3 months free commission up to $1500 value= 150 free trades. Account must have $100,000 on the 4th business day of each month to avoid fees. - RBC Direct Investing offers $100,000 investment and $9.99 trades. Account must have $100,000 at the end of each month to avoid fees. Until Friday Nov 28th RBC Direct Investing is offering 1% back= $250.00 paid after 6 months on a $25,000 switch and will cover your transfer fee as well. - BMO Investor Line offers $100,000 investment and $9.99 trades and $300 credit in cash into your account after 6 months. Account must have $100,000 to avoid fees. - CIBC Investors Edge on $10,000 investment offers a package that contains 50 trades that cost $395 during the calendar year which is $7.90 per trade and after 50 trades $6.90 per trade. Account must have $10,000 value during August and September to avoid annual fees. Rest of year you can zero in the account. Based on these comparisons I feel that CIBC Investors Edge offers me the best deal and the least hassle. What do you all think? Please give me your input. I want your opinion and feedback. If you know of better deals or if I have made any errors please let me know. Thank you I have looked at these 6 banks.

Scotia Bank, HSBC, TD Waterhouse, CIBC Investors Edge, RBC Direct Investing, and BMO Investor Line.

Not sure of what Scotia Bank and HSBC offer.

- TD Waterhouse offers $100,000 investment and $9.99
trades and 3 months free commission up to $1500 value=
150 free trades. Account must have $100,000 on the 4th
business day of each month to avoid fees.

- RBC Direct Investing offers $100,000 investment and
$9.99 trades. Account must have $100,000 at the end of
each month to avoid fees. Until Friday Nov 28th RBC Direct Investing is offering 1% back= $250.00 paid after 6 months on a $25,000 switch and will cover your transfer fee as well.

- BMO Investor Line offers $100,000 investment and $9.99
trades and $300 credit in cash into your account after 6
months. Account must have $100,000 to avoid fees.

- CIBC Investors Edge on $10,000 investment offers a
package that contains 50 trades that cost $395 during the
calendar year which is $7.90 per trade and after 50 trades
$6.90 per trade. Account must have $10,000 value during
August and September to avoid annual fees. Rest of year you
can zero in the account.

Based on these comparisons I feel that CIBC Investors Edge offers me the best deal and the least hassle.

What do you all think? Please give me your input. I want your opinion and feedback. If you know of better deals or if I have made any errors please let me know.

Thank you

]]> By: Phil S http://www.canadiancapitalist.com/watch-out-for-higher-discount-broker-fees/#comment-168127 Phil S Sat, 15 Nov 2008 19:24:45 +0000 http://www.canadiancapitalist.com/?p=1461#comment-168127 This is precisely the dilemna that I was telling you that I ran into a few weeks ago. Two of my brokerage accounts got pummeled so far that I no longer qualify for the lower commissions in either of them! It will take me a couple of years to re-capitalize those accounts to the point where I can trade for the lower commissions. This is precisely the dilemna that I was telling you that I ran into a few weeks ago. Two of my brokerage accounts got pummeled so far that I no longer qualify for the lower commissions in either of them! It will take me a couple of years to re-capitalize those accounts to the point where I can trade for the lower commissions.

]]> By: Canadian Personal Finance Blog » Blog Archive » Thoughts: Financial Extinction Week http://www.canadiancapitalist.com/watch-out-for-higher-discount-broker-fees/#comment-167549 Canadian Personal Finance Blog » Blog Archive » Thoughts: Financial Extinction Week Fri, 14 Nov 2008 06:02:24 +0000 http://www.canadiancapitalist.com/?p=1461#comment-167549 [...] Canadian Capitalist mentioned about Discount Brokerage Fees especially with TD Canada Trust. I have noticed this one myself, and Nerd Money has also been [...] [...] Canadian Capitalist mentioned about Discount Brokerage Fees especially with TD Canada Trust. I have noticed this one myself, and Nerd Money has also been [...]

]]> By: Forone http://www.canadiancapitalist.com/watch-out-for-higher-discount-broker-fees/#comment-167524 Forone Fri, 14 Nov 2008 00:58:00 +0000 http://www.canadiancapitalist.com/?p=1461#comment-167524 What in heck is going on with Etrade and the U$ ETFs that have switched to the NYSE Arca platform? All of a sudden they can't be traded on Etrade Canada (they can on Scotia's platform.) This affects GLD, DIA, and a lot of other major ETFs. What in heck is going on with Etrade and the U$ ETFs that have switched to the NYSE Arca platform? All of a sudden they can’t be traded on Etrade Canada (they can on Scotia’s platform.) This affects GLD, DIA, and a lot of other major ETFs.

]]> By: sentimental http://www.canadiancapitalist.com/watch-out-for-higher-discount-broker-fees/#comment-167518 sentimental Thu, 13 Nov 2008 22:58:37 +0000 http://www.canadiancapitalist.com/?p=1461#comment-167518 www.interactivebrokers.ca, friends :) http://www.interactivebrokers.ca, friends :)

]]> By: Cory http://www.canadiancapitalist.com/watch-out-for-higher-discount-broker-fees/#comment-167289 Cory Wed, 12 Nov 2008 23:24:34 +0000 http://www.canadiancapitalist.com/?p=1461#comment-167289 fyi...TD Waterhouse will only charge you $25/yr for a basic registered account that you will only be allowed to buy and sell mutual funds, not trade stocks. I use one for mutual funds that I will switch over to a full account once it's over $25k. fyi…TD Waterhouse will only charge you $25/yr for a basic registered account that you will only be allowed to buy and sell mutual funds, not trade stocks. I use one for mutual funds that I will switch over to a full account once it’s over $25k.

]]> By: 2op mike http://www.canadiancapitalist.com/watch-out-for-higher-discount-broker-fees/#comment-167272 2op mike Wed, 12 Nov 2008 19:30:50 +0000 http://www.canadiancapitalist.com/?p=1461#comment-167272 MJ, you are right if the issue was a hyper active trader, but rebalancing and tax loss trading are prudent approaches that still call for a number of trades. C.C. I agree that you need to leverage all your business and your history with the firm. Somtimes it may also be in their best interests to waive the fee just to make me go away..That tends to happen if you get elevated to somebody in senior management and force a dialogue. With TD-W it obviously would not be "comfortable" to pay the fee ! MJ, you are right if the issue was a hyper active trader, but rebalancing and tax loss trading are prudent approaches that still call for a number of trades.
C.C. I agree that you need to leverage all your business and your history with the firm. Somtimes it may also be in their best interests to waive the fee just to make me go away..That tends to happen if you get elevated to somebody in senior management and force a dialogue.
With TD-W it obviously would not be “comfortable” to pay the fee !

]]> By: Michael James http://www.canadiancapitalist.com/watch-out-for-higher-discount-broker-fees/#comment-167239 Michael James Wed, 12 Nov 2008 16:58:58 +0000 http://www.canadiancapitalist.com/?p=1461#comment-167239 Paying higher fees is no fun, but I see a parallel with alcohol. If rising alcohol prices are a big problem, maybe you drink too much, and if higher trading commissions are a big problem, maybe you trade too much. Of course, paying less is always better, even if you only trade infrequently. Paying higher fees is no fun, but I see a parallel with alcohol. If rising alcohol prices are a big problem, maybe you drink too much, and if higher trading commissions are a big problem, maybe you trade too much. Of course, paying less is always better, even if you only trade infrequently.

]]> By: Canadian Capitalist http://www.canadiancapitalist.com/watch-out-for-higher-discount-broker-fees/#comment-167238 Canadian Capitalist Wed, 12 Nov 2008 16:27:34 +0000 http://www.canadiancapitalist.com/?p=1461#comment-167238 mike: My past experience has been that discount brokers are loathe to waive fees. I had the exact same problem in the previous bear market. When the account fell below the threshold, administration fees were charged. I did ask for a waiver but no luck. Still, it wouldn't hurt to ask and depending on the size of your business, at worst, they can say no. mike: My past experience has been that discount brokers are loathe to waive fees. I had the exact same problem in the previous bear market. When the account fell below the threshold, administration fees were charged. I did ask for a waiver but no luck. Still, it wouldn’t hurt to ask and depending on the size of your business, at worst, they can say no.

]]>