Update June 25, 2007: Here is a detailed Interactive Brokers Review.
Swap_vertical_circle, scalping Allowed, no restrictions for trading within milli-seconds apart.
No 100 / how do i make extra cash yr if under 25k balance Yes QTrade Yes/ Yes Yes Yes.75/ trade.95/ trade if assets 500k Yes (select group) 100/ yr admin fee if under 25k balance, 60/ yr for USD rrsp Yes Virtual Brokers Yes/ Yes Yes Yes.Yes, rBC Direct Investing, yes/ Yes Yes Yes.95/ trade no minimum balance,.95/ trade if 150 trades / quarter No 25 / quarter if less than 15k balance Yes cibc Investors Edge Yes/ Yes Yes No (offer FX at spot rate within rrsp and.ETFs are free to buy, reg commission to sell. For smaller accounts, Questrade offers the best product.I use IB for my trading and my big bank brokerage for my real-time"s.Commission, comm Free ETFs, fees, dRIP, scotia i-Trade (formerly e-trade).Update: April 8, 2008: Weve written a review of TradeFreedom discount brokerage.Well, there are some new players in town!This is the perfect setup for passive ETF investors (my wifes account is 100 indexed with Questrade see passive investing strategies here ). .For example, if you buy enough shares of cibc to pay you 100 in dividends/quarter (enough for 1 share you can set it up so that your brokerage will automatically purchase more shares of the same company with the dividend payout. For ETF index investors, a discount broker that offers commission-free ETFs is a way to reduce trading fees when rebalancing and/or adding to the account. This is especially the case when buying US stocks within a Canadian based rrsp.There is one feature that I like a lot about big bank brokerages and that is free dividend re-investments (drip).You can see more brokers that charge 0 for trading ETFs here.There is a 10USD / month minimum fee with IB which means that if you spend less than 10USD in commissions in a month, they will charge the difference to your account.You can start your online forex trading today with OctaFX. Min 10k to open an account.Yes, iB, yes/ Yes, no, yes, min 1 /USD trade.This works out to be around.90/trade with no limit to the number of shares you can buy.I commend cibc for taking the initiative that the other big banks have not taken, that is to reduce trading fees for Canadians.Max.5 of trade value (0.01 / share).
As an update and side note, almost all discount brokerages are very competitive with low trading fees (under 10/trade).
Update Feb 23, 2007: I have opened a new rrsp account with Questrade.
197 Registered address: Suite 305, Griffith Corporate Centre, Beachmont, Kingstown,.