Best online brokerage canada reddit
Written by Jin Won Choi on Aug. Last update on July 27, Man using trading terminal from Best online brokerage canada reddit. Unfortunately, answering this question can be complicated because each broker has his or her own unique way of charging fees. This means that different brokers will cost more depending on how the individual uses the account.
In particular, I will look into three popular Canadian brokers - QuestradeInteractive Brokersand Virtual Brokers - to see which one of the three would end up being the least expensive, taking earnings into consideration. Before we go on, I must disclose that I receive affiliate income from Questrade. The following list spells out the exact assumptions I used in my analysis. Note that Virtual Brokers has different commissions structures, so I chose to use the "Classic" commission structure for comparison.
Out of the three brokers, trading stocks cost the most with Virtual Brokers. This wasn't the case up until recently, when they used to charge just 1 cent per share for each trade. However, they have since changed commission structures to court more active traders. Questrade's trading costs are half that of Virtual Brokers. That means a trade would only cost 1 cent per share if you buy between and shares.
The biggest drawback of Interactive Brokers is their inactivity fee. If you pay less than 10 USD in trading fees each month, they will charge the remainder as an inactivity fee. Furthermore, they will charge this amount per account.
Lastly, whereas it costs nothing to register an RSP account with either Questrade or Interactive Brokers, it can cost substantially more if you want to hold U. While an RSP account that can only hold Canadian dollar investments costs nothing, an account that can hold U. Under Virtual Broker's old commission structure, determining which broker was cheapest wasn't so straightforward.
But with the commissions changes, I believe Questrade is currently the cheapest out of best online brokerage canada reddit the major discount brokerage firms that offer registered accounts.
Broker Interactive Questrade Virtual. If you enjoyed this article, you might be interested in our free best online brokerage canada reddit. Enter your email to get free updates. Choi is the founder of MoneyGeek. He has a PhD in financial mathematics, and he worked at a top performing fund for 2 years. Virtual Brokers Questrade vs. This article has been updated to reflect prices as of July 27, Has 2 registered savings accounts RSPs.
This fits the description of someone who makes a monthly contribution to buy one ETF a month. I will also assume that each trade i. Will purchase stocks 4 times a year and sell stocks once a year. I will also assume that each trade consists of shares. A Canadian who wants to buy U.
Which One Should You Choose? Broker Best online brokerage canada reddit Questrade Virtual Short url: Choi's commentary on current financial events All this is available for free.
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There are additional factors to consider of course, but the example is clear. Since you are not logged in, we don't know your spoken language, but assume it is English.
So a trader is going to buy one currency, using the other.
Second, in those cases where either of these versions of Cumulative Prospect Theory fits a participant for one stimulus set, it does so also in the other stimulus set, hence, the successful fits are highly replicable. Third, the only predicted preference patterns that are not rejected, are the ranking of the gambles by decreasing winning amount best online brokerage canada reddit in Cash I and ABCDE in Cash II), and the ranking of the gambles by increasing probability of winning (edcba in Cash I and Best online brokerage canada reddit in Cash II).
These two rankings are also consistent with simple heuristics according to which decision makers either ignore probabilities or outcomes for lotteries like these. The Cash I and Cash II stimulus sets were not originally designed to be diagnostic for a full-fledged test of Cumulative Prospect Theory, hence, we leave it for future work to determine the performance of.