Canadian Online Brokerage Review – Virtual Brokers

[Liza]

The commission structure works well for me and is the only reason I am still with them. As soon as I find someone offering the same or lower commissions, I will leave. Reason: abysmal customer service. Like some of the other posters, I could write pages (not just paragraphs) about the countless incidents. Let’s not forget spelling and grammatical errors on their website, BTW.

So, if you want customer service – steer clear.

[Adrian]

Virtual Brokers fee structures are borderline fraudulent! Beware of them changing fee structures without EMAILING but relying on you checking their millions of messages on the online portal (to read the fine print). WOULD NOT RECOMMEND.

Any issues brought up with them are dealt with very poorly. Some of the worst customer service I have ever encountered.

[Toni]

Worse customer service ever. I could write several paragraphs here detailing all the incidents I had. Even with the new ticketing system still can’t seem to deliver.
I have several portfolios with nearly a million dollars invested. I manage in there all my family’s registered accounts too.
I would take all our positions out if it wasn’t that I took me so much effort to open the accounts and do the transfers. I can’t afford to go through that again in the short term, but if they keep under-performing, like are right now, I’ll strongly consider going elsewhere.

I would not recommend this platform for any serious investor. Go put your money elsewhere .

[David]

I am Just wondering to open account in VB. Is stock trading free of commission even with Web trader ? Does anyone knows about it.

[Zach]

Still trying to get my money back from these guys somehow they billed me 100$ in random fees (made up fees noone else charges) the process for withdrawing funds and closing the account is ridiculously slow and the staff don’t seem to know what there talking about. Seriously put your money anywhere else at this point i wish i had of just set mine on fire.

[Jonathan]

VB is a rip off on currency conversions. They take 1.9% over the spot rate. They don’t support norbit’s gamble and charge $15+1.95 per quarter to hold USD in your account. If all you want to buy is canadian ETF than it may be a good choice for you but if you what to traded in the US and internationally for get them.

[Karina]

I switched to VB from TD and RBC. I was unhappy with the depth of market info and platform at both brokerages. TD is better if you’re making phone trades, but I detest the $63 fee per phone trade. Ridiculous. If you have the minimum account balance, expect delays with your account. If you have over $50K expect nothing but great experience. As a young professional, I am growing my portfolio. VB treats me with more respect than TD or RBC as anything over $1M is considered valuable to the big banks.

Know what you bring to the table and adjust your expectations accordingly. Don’t expect high net worth treatment with minimum account balances.

[VirtualBroker Victim]

Do NOT NEVER EVER NEVER EVER trade stock with Virtual Broker. worst customer service ever. I would recommend always deal with mainstream brokers for trading. Virtual Broker fee is deceiving. and their trading platform is really confusing.

[Kirk McDougall]

Virtual Brokers has added an annoying popup that shows every time one enters the dashboard. It makes an otherwise good site a horrible annoyance. Very difficult to concentrate on investing when popups are constantly interrupting.

[Dave]

I recently suggested my girlfriend open an account at Virtual Brokers. She started depositing small amounts of money every couple of weeks into her account only to have Virtual Brokers charge her exorbitant in activity fees that were decimating her equity. I called Virtual Brokers on her behalf in order to address the situation. My complaint was met with an attitude of apathy and aggressive hostility by a representative named Steve. He sensed my frustration, egged me on, made fun of my account size, and denied my request to speak to a manager. While my account is not the largest by far it is significant and growing on a yearly basis. I have a large account and another financial institution from which I was transferring a set amount on a yearly basis to my virtual Brokers brokers account. I guess they aren’t interested in that yearly deposit continuing. Since I was the one who suggested my girlfriend open the account and because my account size is significant I felt that virtual Brokers would consider reversing these exorbitant fees in order to keep my girlfriends business. Clearly that is not the case and according to Steve, the Virtual Brokers representative who took my call and who Apparently has several more zeros in his account than I have, didn’t feel that my request was worthy of consideration. I would warn all people considering to use Virtual Brokersto stay clear. Unless Virtual Brokers takes action and fires bullies like Steve nobody should consider opening an account with Virtual Brokers.

[Author]

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