Hey Canadians! Keep More of Your Stock Market Profits!
canadian discount broker
Let’s say that you’re a swing trader, which is kind of like day trading, only over a longer time frame. One Monday, your most liked stock has decreased in cost a little to $48 for each share, so you buy 300 shares. Throughout the week the stock rallies, and on Friday you can sell at $50 for each share. You’ve a $600! Or do you? It is dependent on how much you had to spend in commissions to create those two trades. The following table shows your net earnings with a few of the Canadian discount brokers. The outcomes are organized from worst to best:
* with TD Waterhouse (lower than $100,000 account and lower than 30 trades for each quarter) — you keep $474.00
* with CIBC Investor’s Edge (without the pre-paid Edge package) — you keep $541.10
* with BMO Investorline (lower than $100,000 account and lower than 30 trades for each quarter) — you hold $542.00
* with Disnat (lower than $100,000 account and lower than ten trades each month) — you hold $560.10
* with TD Waterhouse (over $100,000 account or over 30 trades for each quarter) — you hold $580.02
* with BMO Investorline (over $100,000 account or over 30 trades for each quarter) — you hold $580.10
* with Disnat (over $100,000 account or over ten trades for each month) — you hold $580.10
* with TradeFreedom (lower than 150 trades for each quarter) — you hold $580.10
* with CIBC Investor’s Edge (utilizing the pre-paid Edge package) — you hold $584.20
* with TradeFreedom (over 150 trades for each quarter) — you hold $586.02
* with Questrade (for all accounts) — you hold $590.10
* with Interactive Stockbrokers (should trade a minimum of a hundred trades for each year to obtain an account) — you hold $597.00
Interactive Stockbrokers is clearly the winner! Because their fees are cheaper, you get to hold all but $3 of the $600 profit.