mahram, Sorry if I have confused you. The bigger picture is that Ameritrade bought TD Waterhouse (which is even tactfully mentioned in the 2nd paragraph in your link). What you are talking about refers to the Canadian sub-set of these brokerage firms. Free overnight ACH-in/out, wire-in/out, check writing, Level II, etc. were Ameritrade's staple. But in any event, even after the acquisition, they still do not have per share pricing as IB does.
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TDwaterhouse Canada New ActiveTrader Platform and Commission schedule
- Thread starter mahram
- Start date
Quote from bitrend:
TD is great for the rich because of the superior services, unfortunately not for us. Low commission! You need to trade at least 30 times/quarter. TD still don't understand what the market need for today.
Well, at least it's a start. After years of holding the line at very high commissions amounts, it's nice to see that prices are beginning to trend downwards.
I wonder if any of this has to do with fear of IB Canada?
Quote from mahram:
My only complaint about IB, please allow pit access to futures !!! They are the best. I just posted TD's stuff, b/c its nice to finally see some competition happening in the canadian brokerage side. They have been for so long ripping off the average canadian investor. Td for example charges 29$ a trade for canadians,and gives them lackluster research, while their american counterpart gives them access to all kind of research, and has commish of 9.95. And TD canada routes it to some wierd canadian marketmaker all the time. And this was back in 1998, when it was called td greenline.
We (IB) hope to have the first CME pit products online in 1-2 weeks. CBOT sometime therafter. NYMEX and NYBOT by end Q1, earlier with a little luck.
well at least they are finally getting with the picture. The only thing I like is that they are giving away level II for options, both canadian and american, and Us and canadian equities. I belieave its standard level II not the level I and half that etrade use to give. And free streaming dowjone news. Im thinking of finally getting ride of esignal if td provides free level II for canadian equities and options.
Quote from GTC:
mahram, Sorry if I have confused you. The bigger picture is that Ameritrade bought TD Waterhouse (which is even tactfully mentioned in the 2nd paragraph in your link). What you are talking about refers to the Canadian sub-set of these brokerage firms. Free overnight ACH-in/out, wire-in/out, check writing, Level II, etc. were Ameritrade's staple. But in any event, even after the acquisition, they still do not have per share pricing as IB does.
Quote from Chagi:
I agree that it's nice to see that Canadian brokers are finally starting to become a bit more competitive. I currently have a small retail account with a Canadian broker (won't say which), and I frankly get raped by commissions. First thing that I will do once I get serious about this (and have more money to trade with) will be to switch brokers.
I agree completely. I send some signals through their system and talk to customer service once in a blue moon, and I get shafted by BMO for $25 a turn? It's absolutely rediculous. I wonder if it's our big-6 banking system; I think we need some real banking competition badly. We're getting screwed.
Unfortunately for myself, the minimum age for IB is 21 so I'll have to wait half a year. After that, I'm completely done with domestic brokerages.
Ibj do you still have the minimum of 21 years old to apply for your accounts. I thought after you guys converted to IB canada, you lowered the age to the canadian min of 19 years old for canadian traders.
Quote from IBj:
We (IB) hope to have the first CME pit products online in 1-2 weeks. CBOT sometime therafter. NYMEX and NYBOT by end Q1, earlier with a little luck.
It's extremely frustrating to try to manage an account with TD Waterhouse Canada. They think that people appreciate their McDonald's like approach to customer service, but when you scratch the surface it sucks. Yes they can call you Mr. 'this' and are pleasant but they lack any real knowledge. Don't dare ask the reps to engage in any independent thinking or problem solving. They are unable to do so. And this experience is with their "Presidents Account" reps who supposedly are their best. What a joke.
Management places more emphasis on the reps 'phone style' than they do on product knowledge or problem solving. Simply the worst. I would not recommend anyone do business with them.
Waiting patiently for IB to add retirement accounts so that I can end any business dealings I have with them.
If anyone from IB is reading this, any idea on whether and how long it will be before you will add RRSP accounts. I'm quite certain there is a very large amount of new business which would come your way.
Management places more emphasis on the reps 'phone style' than they do on product knowledge or problem solving. Simply the worst. I would not recommend anyone do business with them.
Waiting patiently for IB to add retirement accounts so that I can end any business dealings I have with them.
If anyone from IB is reading this, any idea on whether and how long it will be before you will add RRSP accounts. I'm quite certain there is a very large amount of new business which would come your way.