Posted by mhordila on 11th of Aug 2010 at 10:37 am
I am in Canada, I have my Canadian RSP, in USD, and allowed to
buy calls/puts and covered calls, with OptionsXpress Canada,
very good platform, interface and execution. TOS said they will
open a Canadian branch within one year.
I tried Questrade, as they are Canadian, horrible platform
and execution and atrocius interface for balance and activity. You
never know how much money you have in USD or in CDN. If you have a
USD account, you never know how much they charge per trade... Just
terrible...
Posted by dranchikwanha on 10th of Aug 2010 at 04:49 pm
Minimum is $1000 to open an account but their commissions are
$4.95 for stocks which is more expensive than IB. The good thing is
you can also open an RSR and Tax free trading account.
Posted by sporopat on 10th of Aug 2010 at 04:00 pm
Yes, I'm Canadian and use IB brokers. The only thing you
have to be aware of is that you are not allowed more than 3
full day trades within a 5 day period (someone can correct me if I
don't have it right exactly) unless you have more than $25,000 USD
in your account. If you have less than the $25g and if you
perform 4 day trades, then your account will be frozen for a
certain period of time (60 days I think?) or will be unfrozen if
you top up to the 25g amount.
This is not an IB rule - it is governed by the exchanges I
believe (you can read up on it somewhere on the IB site).
Posted by sporopat on 11th of Aug 2010 at 09:24 am
Yes, IB has the software but I tripped it once - through running
an EOD automated system that whipped around a lot one day. I
then had to top up my account to unfreeze it as I dipped slightly
under the 25g.
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Canadian brokerage account
Posted by jajajaj on 10th of Aug 2010 at 03:21 pm
Any Canadians out there recommend a good Canadian broker that doesn't require too much $$$$ to start trading?
I am in Canada, I
Posted by mhordila on 11th of Aug 2010 at 10:37 am
I am in Canada, I have my Canadian RSP, in USD, and allowed to buy calls/puts and covered calls, with OptionsXpress Canada, very good platform, interface and execution. TOS said they will open a Canadian branch within one year.
I tried Questrade, as they are Canadian, horrible platform and execution and atrocius interface for balance and activity. You never know how much money you have in USD or in CDN. If you have a USD account, you never know how much they charge per trade... Just terrible...
Good luck, Mike H.
Thanks for all the input!
Posted by jajajaj on 11th of Aug 2010 at 01:17 am
Thanks for all the input!
Questrade
Posted by dranchikwanha on 10th of Aug 2010 at 04:49 pm
Minimum is $1000 to open an account but their commissions are $4.95 for stocks which is more expensive than IB. The good thing is you can also open an RSR and Tax free trading account.
RSP account with Questrade
Posted by dranchikwanha on 11th of Aug 2010 at 10:07 am
I meant to say RSP account not RSR
Any way to keep the
Posted by jajajaj on 11th of Aug 2010 at 01:19 am
Any way to keep the platform open all day? And what might an RSR account be? (probably a silly question)
thanks for the info on
Posted by matt on 10th of Aug 2010 at 09:30 pm
thanks for the info on this
IB
Posted by ascr on 10th of Aug 2010 at 03:53 pm
Interactive Brokers offers Canadian accounts. Minimum 10k.
Yes, I'm Canadian and use
Posted by sporopat on 10th of Aug 2010 at 04:00 pm
Yes, I'm Canadian and use IB brokers. The only thing you have to be aware of is that you are not allowed more than 3 full day trades within a 5 day period (someone can correct me if I don't have it right exactly) unless you have more than $25,000 USD in your account. If you have less than the $25g and if you perform 4 day trades, then your account will be frozen for a certain period of time (60 days I think?) or will be unfrozen if you top up to the 25g amount.
This is not an IB rule - it is governed by the exchanges I believe (you can read up on it somewhere on the IB site).
IB Sofisticated software will not
Posted by benjee on 10th of Aug 2010 at 04:26 pm
IB Sofisticated software will not let you day trade 4 times per week, it will automatically stop you after the 3rd time.
Unfortunately, IB software is not infalable
Posted by sporopat on 11th of Aug 2010 at 09:24 am
Yes, IB has the software but I tripped it once - through running an EOD automated system that whipped around a lot one day. I then had to top up my account to unfreeze it as I dipped slightly under the 25g.