What's a good online broker? - TranceAddict Forums

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Posted by exstasie on Mar-19-2008 17:12:

What's a good online broker?

So I think i've paid off most of credit cards and have some cash lying around that I need to invest.

Whats a good online broker to use?

I have a Scotia MaCleod account, but I don't like Scotia so I'm not going to use it anymore.

Is E*Trade any good? I walk by there building all the time and it looks pretty.

What do you guys use?

Posted by capo tutti di on Mar-19-2008 17:14:

Re: What's a good online broker?

Posted by Abercrombie on Mar-19-2008 17:15:

I've used TD for years, then TA took all my stock watch time, and said fcuk-it.

Posted by English Rachel on Mar-19-2008 17:20:

Re: What's a good online broker?

quote:
Originally posted by exstasie
So I think i've paid off most of credit cards and have some cash lying around that I need to invest.

Whats a good online broker to use?

I have a Scotia MaCleod account, but I don't like Scotia so I'm not going to use it anymore.

Is E*Trade any good? I walk by there building all the time and it looks pretty.

What do you guys use?

Give it to me, I will invest it in my house for you.

Savings are shit, there will be another half point drop on base rate mid-April and I don't see the markets doing much better really.

Would have been better to throw it into an RRSP pre-deadline then you would have a start for your homebuyers plan deposit

It's times like this that I wish I was in debt. Far better climate for you to owe then own....

Posted by exstasie on Mar-19-2008 17:26:

Re: Re: What's a good online broker?

quote:
Originally posted by English Rachel
Give it to me, I will invest it in my house for you.

Savings are shit, there will be another half point drop on base rate mid-April and I don't see the markets doing much better really.

Would have been better to throw it into an RRSP pre-deadline then you would have a start for your homebuyers plan deposit

It's times like this that I wish I was in debt. Far better climate for you to owe then own....

I pretty much maxed out my RRSPs so thats no worries.

Yes, the markets are pretty shitty right now, but I have some extra cash that I wouldn't mind using for some long-term investments. I have some savings on the side right now which I am using towards buying a house eventually, but I like to gamble and instead of putting my money on the line at the casino I thought the stock market would be just as fun!

Start building my portofolio as I am not looking for a quick return and am looking for a longer term investment in something realiable..

Posted by TO guy on Mar-19-2008 17:28:

Re: Re: Re: What's a good online broker?

quote:
Originally posted by exstasie
I pretty much maxed out my RRSPs so thats no worries.

Yes, the markets are pretty shitty right now, but I have some extra cash that I wouldn't mind using for some long-term investments. I have some savings on the side right now which I am using towards buying a house eventually, but I like to gamble and instead of putting my money on the line at the casino I thought the stock market would be just as fun!

Start building my portofolio as I am not looking for a quick return and am looking for a longer term investment in something realiable..

Throw it into a bank or insurance company.

Posted by electro88 on Mar-19-2008 17:30:

Questrade

Posted by Cosmic Fur on Mar-19-2008 17:31:

Give it to me.

/obligatory

Posted by Skipper on Mar-19-2008 17:31:

Re: Re: Re: Re: What's a good online broker?

quote:
Originally posted by TO guy
Throw it into a bank or insurance company.

and buy some ABCP while you're at it!

Posted by exstasie on Mar-19-2008 17:31:

quote:
Originally posted by electro88
Questrade

Don't you work for TD Waterhouse? lol

Posted by English Rachel on Mar-19-2008 17:32:

Re: Re: Re: What's a good online broker?

Posted by MissK on Mar-19-2008 17:45:

Re: Re: Re: Re: What's a good online broker?

quote:
Originally posted by English Rachel
Invest in Cannastat Therapeutics on the Toronto Venture Exchange - Cannaboid Pain Relief....

Very ironic you just posted that. I just finished writing an email in regards to this.

Posted by Ozmozis on Mar-19-2008 17:56:

I wouldn't invest in shit...

I call for a small economic depression soon...

Posted by sweds00 on Mar-19-2008 18:10:

Posted by exstasie on Mar-19-2008 18:11:

quote:
Originally posted by �Zm�zis
I wouldn't invest in shit...

I call for a small economic depression soon...

Thats the best time to invest for the future...well, during the recession period when prices are low...

Posted by MarkT on Mar-19-2008 18:23:

people saying "don't invest" clearly don't understand how the markets works, lol.

recession or boom...there are always good investment options.

first, you need to determine if you're looking for safe, short-term gains or if you're investing for long-term growth. Then you need to determine the level of risk you're willing to take.

talk to a financial advisor who can give you some solid advice based upon YOUR personal needs and goals

Posted by Vivid Boy on Mar-19-2008 18:27:

Re: What's a good online broker?

Posted by Vivid Boy on Mar-19-2008 18:27:

Re: What's a good online broker?

Posted by Dr Satan on Mar-19-2008 18:52:

what are your goals and how much money are you playing with?

if you want to do option trading and won't have more then 1000 in ur account at a time go with interactive brokers. its something ridiculously cheap like $1 dollar a trade.

if you are long term and plan on holding these stocks for sometime, or plan on dumping lot of money into your account then go with etrade. its 20 dollars a trade i believe which is the cheapest regular rates.

Posted by tvmann on Mar-19-2008 19:19:

TD Waterhouse is good, used them for a long time. $10 trades if your account big enough. I don't trade very often so commissions aren't a big factor.

5 years ago they had some computer problems and it was hard to connect and get your trades through. But lately I'm impressed at how fast the trades can go through and the bid-ask spread is really good now compared to years ago when a single trade could cost hundreds of dollars in commish.

Sometimes I get tempted to switch to another brokerage but most of the ones you might consider, like Etrade, are operated by companies which are very shaky in comparision to TD. Like Etrade a few months ago looked like it would go under, same thing happened around 2001. Even if they did go under your account would likely be safe, but you can't get a more stable operation than TD and the other big Canadian banks.

Just be very careful about using margin leverage. It's great on the way up, extremely dangerous on the way down! I'd say don't use it until you've got some experience (years not weeks) and even then most people shouldn't use it.

Posted by The Ear on Mar-19-2008 19:21:

If you're an accredited investor, then you should probably talk to me.

Sounds like you're looking at buy & hold scenarios, but my co. only deals w/ accred.s.

PM me if you wanna know more.

Cheers.

and if you're serious about doing stocks, then check out invest tools.

All the data and trading info you can handle. I assure you.

Good luck.

Posted by exstasie on Mar-19-2008 21:59:

quote:
Originally posted by tvmann
TD Waterhouse is good, used them for a long time. $10 trades if your account big enough. I don't trade very often so commissions aren't a big factor.

5 years ago they had some computer problems and it was hard to connect and get your trades through. But lately I'm impressed at how fast the trades can go through and the bid-ask spread is really good now compared to years ago when a single trade could cost hundreds of dollars in commish.

Sometimes I get tempted to switch to another brokerage but most of the ones you might consider, like Etrade, are operated by companies which are very shaky in comparision to TD. Like Etrade a few months ago looked like it would go under, same thing happened around 2001. Even if they did go under your account would likely be safe, but you can't get a more stable operation than TD and the other big Canadian banks.

Just be very careful about using margin leverage. It's great on the way up, extremely dangerous on the way down! I'd say don't use it until you've got some experience (years not weeks) and even then most people shouldn't use it.

I was just thinking...

If you make trades at TD Waterhouse downtown in the at TD Centre, they are free aren't they?

Same with BMO Nesbitt Burns right in First Canadian?

Or am I just making this up?

Posted by tvmann on Mar-19-2008 23:10:

Free? Hmmm I never heard of that. I guess it's possible.

When you have an account at a brokerage, they have ways to make money off you besides commissions. They want to maximize the amount of money they have under management or deposit because eventually one way or another they will earn profits off it. So it's conceivable they might do a few things for "free".

Posted by activate on Mar-20-2008 00:06:

Re: Re: What's a good online broker?

quote:
Originally posted by English Rachel
Give it to me, I will invest it in my house for you.

Savings are shit, there will be another half point drop on base rate mid-April and I don't see the markets doing much better really.

stocks go go up and down.. that's what they do... nothing that's happening now it out of the ordinary.

there's no such thing as a quick buck when you're investing.

Posted by slingshot on Mar-20-2008 00:17:

Re: Re: Re: What's a good online broker?

quote:
Originally posted by activate

there's no such thing as a quick buck when you're investing.

tell that to the people who bought Bear Sterns puts last Friday morning

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