I’m sort of in a bind. I’m undecided of what to do with my current online brokerage that I use for trading, RBC Direct Investing. I want something with lower trading fees. Paying 28.95/trade seems ridiculous, especially as a young investor/student trying to save for school in the fall. So I’ve continue to snoop around to one of my favourites: Questrade, a Canadian online brokerage company.
Recently, a close friend of mine in Toronto, jumped onboard with Questrade. At $4.95/trade to never more than a max of $9.95, that is some serious savings. As well, another friend on Twitter was posing the same question as to what is a good online brokerage to get. I’m pretty stumped. The one big reason for keeping RBC is because I do all of my banking there and my heart is there. But common sense is telling me otherwise and go with the savings and Questrade.
So a quick question to you. What online brokerage do you use and why?