I know it's foolish but I play the stock market with just $6000 dollars and I am just getting hammered by TD Waterhouses $30 commission. I think I've payed just under a thousand dollars in commission and it's getting harder to cover that cost especially in recent market conditions. I've tried interactive brokers but they won't let me trade because I'm too young. Does anyone know of a Canadian brokerage providing cheaper trades with no minimum balances or trades?
Answer:
You're not foolish. $6000 is a reasonable amount to get going with for sure. TD does hammer you. Been there, done that! Have you tried optionsxpress.ca ? They don't just do options. Their rates are great ($14.95 per trade and work on a sliding scale). Check out
http://www.optionsxpress.ca/canada/welco.
The only problem with them is that they won't allow you to buy Canadian stocks (?!?) Go figure. Anyway, another one to look at is Questrade.com they charge from $9.95 per trade on Canadian and US stock. Their setup is quite confusing though. They are apparently quite good, but I found it too complicated, so went to Optionsxpress, but may go back to Questrade for my Canadian trades. Hope that helps!!
Other Questions and Answers:Is an IRA that shows no profit still need to be drawn down beginning at age 70 1/2 ?
What website will show me what percentage of outstanding company shares are being sold short?
Should you begin to study sunspot activity as a way to beat the stock market?
Anybody know how I can get a mortgage in the Netherlands?
when buying stocks.is there a minimum amout or"blocks" one has to but at a time. thanks?
Mutual Funds Investment, is there any possibilities that we can suffering looses instead of gaining profit?
if you have 100 thousand dollars and you dont need it where do yo.u think the best think to invest this money?
Is now a good time to invest Japanese market?