Canadian Stock Brokers

There are plenty of Canadian Stock Brokers out there that can help you to invest your money and achieve your goals in the Canadian market. This article will help you find the best Canadian Online Broker to fit your needs by comparing a few of the major stock brokers in Canada and their advantages and disadvantages.

Questrade has its headquarters in Toronto Canada and is one of the cheapest options for traders/investors. The brokerage fees range from $4.95 to $9.95 depending on how often you trade and your account balance.

There is also no minimum balance that you need to have in order to create and maintain an account with them.

NobelTrading.com

This broker is a pretty inexpensive option and is willing to haggle with new traders who have a large account and will be trading often. Their fees depend completely on how much money is in your account.

If you have $500 or more in your account, they charge $7.95 per transaction.

If you have $5,000 or more in your account they charge $.008 per share traded

If you have $30,000 or more in your account you can negotiate your own price and haggle with the company.

They are the only Canadian online broker that I know of to work with you in determining your commission, so you may want to check them out if you have a large account.

PENNTrade.com

Penntrade charges a flat rate of $29.95 per trade, however every 10th trade is free which is an interesting concept.

RBCdirectInvesting.com

This broker’s commissions depend on how often you trade.

If you make between 0-29 trades a quarter they charge you based on the price of the equity, number of shares, and the exact security that you are buying. But the commission will never fall below $28.95.

If you make between 30-149 trades a quarter they charge you a flat rate of $9.95/trade

If you make 150 trades or over in a quarter they charge you a flat rate of $6.95/trade

Scotiaitrade.com

This Canadian Online Broker is the Canadian version of Scottrade. They also charge you based on how often you trade.

0-29 trades/quarter = $19.99

30-149 trades/quarter = $9.99

150+ trades/quarter = $6.99

There is no minimum balance to open up an account with this broker.

Conclusion

Those are the major Canadian Stock Brokers for you to choose from. The best one for you really depends on where you are at and most importantly which one will charge you the least per trade. If you have a small account consider Questrade for their low commission options, if your account is a little bigger try to negotiate a better price with Nobel Trading. Low commission is a huge factor.

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