Keep in mind, these ratings are my opinion and comparable other similar financial products such
as online brokerage account and retirement savings plans.
Not exact matches
If you plan on transferring a
brokerage account from one
online brokerage service to another, beware the
account transfer fees charged by some providers, which can be
as high
as $ 125.
Bigger investment management firms with
online brokerage arms may impose minimums
as high
as $ 5,000; Fidelity requires at least $ 2,500 to open a
brokerage account, while TradeStation requires $ 5,000.
Now that
online and mobile banking is widespread, some
brokerage firms offer a wide range of services, including direct deposit, mobile deposit, and
online and mobile bill payment,
as well
as check writing capabilities and debit cards linked to
brokerage accounts, most of which previously were solely the domain of banks.
Using a limit order,
as I might do in my
online brokerage account, does not make me a market maker.
Bigger investment management firms with
online brokerage arms may impose minimums
as high
as $ 5,000; Fidelity requires at least $ 2,500 to open a
brokerage account, while TradeStation requires $ 5,000.
If you plan on transferring a
brokerage account from one
online brokerage service to another, beware the
account transfer fees charged by some providers, which can be
as high
as $ 125.
Can I open an
account with a US
online brokerage firm such
as e-trade, etc..?
I should probably get on with the business of getting an
online bank
account — though, I currently use
online banking (
as well
as online brokerage services) with my so - called «brick and mortar» bank.
While many active traders are content with the desktop interface and additional screen real estate, the reality is that certain
online brokerages in the US, such
as Robinhood, have proven that younger users can and will use mobile - only platforms or apps to perform trades, check their
accounts or portfolios and research potential investing opportunities.
One of my biggest frustrations
as an ETF investor is that so few
online brokerages allow you to hold US dollars in registered
accounts.
Opening an
account with the TreasuryDirect is
as simple or simpler
as opening an
account at any
online brokerage.
There are so many complex moving parts involved in
online trading that expecting a trade to execute or expecting to have access to markets is not the same thing
as a guarantee of availability, something that many
brokerages place in the fine print on a discount
brokerage account agreement.
As many readers may know, the discount
brokerage deals section is one of the most popular places for investors looking for an
online trading
account to review.
Since launching publicly in 2015 they've already managed to open more than two million
accounts, an impressive feat considering other
online brokerages such
as Interactive Brokers report have over 436 thousand
accounts (
as of July 2017) but who've been around much longer and are substantially larger in terms of valuation.
As for Canada's bank - owned
online discount
brokerages, thus far the best that individual clients can do is to access cash from their
accounts or even pay bills from their
online trading
accounts.
Whereas Desjardins
Online Brokerage, a division of Desjardins Securities Inc., is offering you the use of its online brokerage service (hereinafter, «Internet Services»), subject to your acceptance of each and every term and condition stipulated herein, and of each and every term and condition set forth in the appropriate account agreements, and subject to Desjardins Online Brokerage reserving its right to terminate the present agreement and discontinue its Internet Services, at any time, either in general or for one particular customer, you accept as user of these services (hereinafter the «User»), and consequently agree to each of the following terms and condi
Online Brokerage, a division of Desjardins Securities Inc., is offering you the use of its online brokerage service (hereinafter, «Internet Services»), subject to your acceptance of each and every term and condition stipulated herein, and of each and every term and condition set forth in the appropriate account agreements, and subject to Desjardins Online Brokerage reserving its right to terminate the present agreement and discontinue its Internet Services, at any time, either in general or for one particular customer, you accept as user of these services (hereinafter the «User»), and consequently agree to each of the following terms and co
Brokerage, a division of Desjardins Securities Inc., is offering you the use of its
online brokerage service (hereinafter, «Internet Services»), subject to your acceptance of each and every term and condition stipulated herein, and of each and every term and condition set forth in the appropriate account agreements, and subject to Desjardins Online Brokerage reserving its right to terminate the present agreement and discontinue its Internet Services, at any time, either in general or for one particular customer, you accept as user of these services (hereinafter the «User»), and consequently agree to each of the following terms and condi
online brokerage service (hereinafter, «Internet Services»), subject to your acceptance of each and every term and condition stipulated herein, and of each and every term and condition set forth in the appropriate account agreements, and subject to Desjardins Online Brokerage reserving its right to terminate the present agreement and discontinue its Internet Services, at any time, either in general or for one particular customer, you accept as user of these services (hereinafter the «User»), and consequently agree to each of the following terms and co
brokerage service (hereinafter, «Internet Services»), subject to your acceptance of each and every term and condition stipulated herein, and of each and every term and condition set forth in the appropriate
account agreements, and subject to Desjardins
Online Brokerage reserving its right to terminate the present agreement and discontinue its Internet Services, at any time, either in general or for one particular customer, you accept as user of these services (hereinafter the «User»), and consequently agree to each of the following terms and condi
Online Brokerage reserving its right to terminate the present agreement and discontinue its Internet Services, at any time, either in general or for one particular customer, you accept as user of these services (hereinafter the «User»), and consequently agree to each of the following terms and co
Brokerage reserving its right to terminate the present agreement and discontinue its Internet Services, at any time, either in general or for one particular customer, you accept
as user of these services (hereinafter the «User»), and consequently agree to each of the following terms and conditions:
Currently, interest rates are very low, so the amount of return you will receive for placing your money in a savings
account is also low, but if you shop around you can find more attractive rates from
online banks
as well
as brokerage accounts.
With an
online brokerage account, you enter you orders through the broker's
online account system, and the commission for most brokers falls in the $ 5 to $ 10 range,
as of publication.
Throughout these years,
as more and more
online discount brokers emerged, I have also got
accounts with other
brokerage firms in order to reduce trading cost, even though the money I saved on commissions isn't really significant at all.
Obviously your
online brokerage and bank
accounts are important; webmail
accounts such
as Gmail and Hotmail are also crucial, because if attackers get in, they can reset passwords to your other
accounts and lock you out.
Those looking for a deal on an
online brokerage account needn't worry, however,
as there are still 15 offers from 7
brokerages.
You can open a
brokerage account with most
online brokerages with
as little
as $ 500.
As the end of the calendar year (which is important for TFSA's) and the RRSP contribution deadline (in March) tick closer, Canadian discount
brokerages are gearing up for another busy season of DIY investors shopping around for the best deal on an
online trading
account.
As a bank - owned
online brokerage, it is able to offer clients the ability to manage multiple
accounts (including personal banking) and products via the TD
online platform.
As the web evolved, the largest
brokerage firm announced they would «allow some of their clients» to have
online access to their
accounts (I wondered at the time if they also gave them hall passes).
Remarkably, in an industry (
online trading) that relies on technology to the extent that it does and brands itself
as technologically forward - thinking, the onboarding process at many
online brokerages is still significantly dependent on manual, physical steps — all of which result in the process of opening an
online brokerage account taking time measured in minutes and in some cases, days.
For Canadian discount
brokerages, planning for their busiest season in 2016 just seems to have gotten much more interesting
as they are now tasked with enticing DIY investors into opening
online trading
accounts.
As of 2015, some of the most popular and highest - rated
online brokerage accounts include OptionsHouse, Scottrade, TD Ameritrade, Ally Invest, Betterment, TradeMonster and E * Trade.
When it comes time to open an
account, start by looking for a
brokerage that allows
online applications — we found BMO InvestorLine and Qtrade Investor have the most efficient process, while some (such
as TD Direct Investing) make you visit a branch.
I have no experience with investing whatsoever... I guess I might
as well start with TDW for now — who knows how long it'll take V to get from announcement of «working through investment advisors» to making
online discount
brokerage accounts available.
Online brokerages were also in the spotlight for other reasons too
as a pair of articles on trading traps and practice
accounts came across our radar.
Although Questrade was one of the first discount
brokerages to offer up an iPad minis
as an incentive to open an
online trading
account (and did so for a long time), it now seems that National Bank Direct
Brokerage has also taken to a similar strategy.
This is somewhat rare
as other
online brokerages generally don't refer to the features associated with either increased trading activity or larger
account sizes
as perks (or if they do, it's certainly more muted), but labeling these features in this way enhances the feeling of receiving a bonus.
Your expanded direct deposit options include IRA
accounts, Archer Medical Savings
Accounts, Coverdell Education Savings
Accounts and TreasuryDirect
online accounts as well
as other types of investment or
brokerage accounts.
Vanguard is in Canada
as of November 2011 so you can buy them yourself through your own
online discount
brokerage account: http://www.vanguardcanada.ca/individual/portal.htm.
They do offer some of their funds
as ETFs which means they are traded on the stock market so anyone can buy and hold them at any
brokerage internationally, including in a self directed RRSP or TFSA
account at your bank or a cheaper
online brokerage like Questrade.
As someone who has worked in the
online brokerage industry, I know better than most that when it comes to fees,
brokerages seem to hit IRA
accounts the worst.
This might be a topic for another post, but are you aware of which
online discount
brokerages meet the criteria of being: «brokers who [are] able to segregate CAD and USD holdings in registered
accounts such
as RRSPs and TFSAs»?
I'm thinking I will buy
as much RBC stock
as I can on the NYSE then turn around and sell on the TSE through my discount
brokerage account online.
All of the popular
online brokerages such
as E * Trade, Scottrade, Sharebuilder, Tradeking, and others allow you to open an
account as a Roth IRA.