Day trading in Canada

[Cdntrader]

Originally posted by Nicodemus
You might get in touch with Threei at Realitytrader. He's a pro that trades from Canada and likes to help people out.

Haven't you heard?.... gurus are like...um.... "over"

 

[Babak]

CdnTrader, he's not a guru. Don't pre-judge in life. You run the risk of losing out.

 

[Cdntrader]

Originally posted by def
there is supposed to be a meeting this week. hopefully, they will not be asking for further information.

Did the meeting go off? how did it go?

 

[def]

i just sent a mail out and will post back here when i get a response. (i know...., this is getting tiring and is taking longer than it should have).

 

[Cdntrader]

Originally posted by def
i just sent a mail out and will post back here when i get a response. (i know...., this is getting tiring and is taking longer than it should have).

no sweat def. Thanks for the reply.

 

[tenaru]

Fohat,
Since you posted this in August, have you found out anything more about Trade Freedom? I am seriously thinking of opening an account with them and would like to hear from anyone that has dealt with them.

Originally posted by Fohat
Does anyone use<a href="http://www.tradefreedom.com/trading/trading_fees.html">TradeFreedom</a>Å¡- an EDAT broker in Canada, uses PCQuote platform? Commission structure is similar to most daytrading brokers in US: ticket + ECN fee (no fee for ATTN ECN, SOES). I haven't used them, comments are appreciated.

Tradefreedomš actually has better rates for Canadian securities than all Canadain online brokers!

It's time for Canadian brokers to give separate rates for online "unsupervised" trading and "manualy supervised" trading. $29 fees for 100 shares are outrageous.

Protecting the local broker oligopoly from outside competition with restrictive legislation hurts the investor with artificially high fees ($29 for 100 shares) and bad order executions.

Fohat

 

[def]

cdntrader,
the meeting went well, but alas, they asked for additional information. i've been in the additional info stage before elsewhere. Sometimes it goes really fast, other times.....
I'll keep you posted.

 

[Fohat]

tenaru,

I haven't found out anything more about Trade Freedom. From their website one can infer that subscribing to a PCQuote datafeed package is obligatory and the monthly fee is $325 -$450 for up to 74 trades a month.
The five minute partial fill no charge rule is only for Nasdaq trades.
Option commissions are high.

But overall, executions and commissions should be better than that of any web based Canadian broker for an active trader, imo.
I'd like to hear more feedback before I consider transferring an RRSP account there.


Fohat

 

[Cdntrader]

Thanks Def. They probably want more information how you charge so little compared to the rest of the Canadian thieves.

 

[rainman7]

I've called them, and the Sec. commissions, here in Canada. One Datek staffer said he had heard somethings, but could'nt give a date on when or how.

OSC, first said "Oh let me check if they have got it now". Then she came back on the line and said she could'nt tell me even if they had applied for registration. Checking around the internet I found on the OSC website that they had applied as part of there settlement in the early summer.

So what is it anyone know or know of a time frame of when they may get here?