Brokers

[Weston]

Anyone know good brokers in Canada, I use TD Waterhouse they basically charge $0.03 per share (29$ is there min fee) over 2$ and udner 2$ its a percentage. there is no annual or monthly fee. TD told me if I had 500,000 in my Trading account I could get a lower rate but um I need some penny stocksto go up first hah

So just wondering if there is any other cheaper ones I can use in canada, I know one i found but they have annual fees and other fees

[Keonee's Kash]

I switched to TradingDirect.com

It costs $9.95 per trade but that's it. Penny stocks do not get charged a percentage fee. You can sign up for the ACH transfer ( they will take money out of your checking or savings account and it's free ).

Also international accounts can be set up with them.

[onenomad]

Hello I have been reading up as much as I can on all this and it sounds great does anyone know of a good online broker for UK Clients Many Thanks

[hilljack13]

Can someone explain how all these brokers work,,i.e. Etrade, TD waterhouse, Ameritrade, etc. and their commissions..Call me dumb but if I start buying penny stocks and have to pay $10-$30 each time I trade/buy then arent I losing a whole lot before I get started? And whats the deal with a lot of these 'minimum' trades? What do you do if you want just a few stocks to see what happens. Im not trying to bounce around all the time..especially if it cost $10 each time...I would give all my money to the broker even if the stock went up??? Help!!!:( :(

[Weston]

thanks guys now to sit down and think what I should do stay or move my account now or maybe wait till I make some money heh :D

[tattatu]

use a level ii platform -- Ameritrade is level i -- to understand the market you need to see the depth (who's in the game).

brokers fees are part of the formula -- dont make too many trades (1 to get in and another to get out -- and have to figure lot size 500 shares, 1000 shares, 2000 shares -- have to make .02 with 1000 share lots to cover brokers fees -- then have to decide for how long you want to hold. And finally, have to look at the spread -- are you going wholesale or retail. If you understand the macro pov its much easier making money going downstream then against the current -- difference is like filling a glass as to filling a bucket. go slow -- limit trades can be damaging to your account, if you dont check yourself first -- there's no takebacks. Its nice to go to a trading school and get used to the software (expensive but worth the time) and if you're mark-to-market you can write off school and travel as an expense. There's some good ideas on this thread. Thanks for the info on trading.

[floydsboys]

I don't know if it is available in Canada but I trade on line with
LOWTRADES @lowtrades.com. Trades are $2.99 for the first month & then $5.00 per trade after that. I don't remmber but I think that there is no minimum amount to start.