Broker Buzz

Discount Brokerage Weekly Roundup – Nov. 9th 2012

Discount Brokerage Weekly-Roundup

The big news from the Canadian discount brokerage industry this week was the huge announcement that OptionsXpress will no longer be available in Canada.  Virtual Brokers will be acquiring all of the OptionsXpress Canada accounts as of December 1st pending regulatory approval. This now narrows the number of Canadian discount brokerages that provide a powerful and easy to use options …

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OptionsXpress Canada officially exiting the Canadian Discount Brokerage market

optionsXpress

The Canadian discount brokerage market this week saw one of the players officially exit by selling their Canadian operations.  Virtual Brokers announced today that they will be buying out OptionsXpress Canada effectively signaling the end of OptionsXpress in Canada and shrinking the number of big discount brokerages by one.  The business agreement is set to take effect on December 1st …

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Discount Brokerage Weekly Roundup – Oct. 20th 2012

Discount Brokerage Weekly-Roundup

Discount Brokerage Weekly Roundup From the Canadian discount brokerages, this past week saw the launch of a new contest by Questrade  called “Ring the bell with Questrade”.  Winners of the contest will get to ring the opening bell at the NASDAQ MarketSite and round trip airfare to New York City, three nights’ accommodation and $500 in spending money. For contest …

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Penson Financial Services Canada Closing Down

optionsXpress

For most Canadian investors and traders who place their trades online, the details of what happens after they press ‘buy’ or ‘sell’ on their stock trades is largely a trivial matter.  Should one start to think about it, however, the process of matching up millions of orders, confirming trades and documenting what went to whom and where can get fairly …

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Thinkorswim Now Accepting Canadian Accounts

businessopensignred_web

It’s official – Thinkorswim Canada (part of TD Waterhouse Discount Brokerage)  is now accepting new Canadian accounts.  For the moment, this service will allow TD Waterhouse discount brokerage clients to trade US equities and options and only through a US Dollar margin account. Several discount brokerages have been rolling out new platforms recently including Scotia iTrade’s FlightDesk, and Questrade’s IQ, …

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thinkorswim Canada almost ready to accept new clients

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One of the best rated stock and options trading platforms, thinkorswim, looks like it will be opening its doors again for Canadian investors.  From various conversations with TD Waterhouse discount brokerage representatives, traders and investors alike,  regaining access to the thinkorswim platform for Canadian discount brokerage clients has been widely anticipated.  Finally, it seems that there is a definitive timeframe …

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Questrade mobile trading app officially released

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Earlier this week, Questrade officially launched their IQ Mobile for Android and iPhone and with that they join the rank of other discount brokerages who’ve created mobile-friendly sites or smartphone apps for trading (to see who else offers mobile trading apps check out our review here). Questrade’s mobile trading app will help investors and traders execute trades, find out stock …

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TD Waterhouse Discount Brokerage – Special Offer for New Account

We picked up this deal on our radar by attending a free educational seminar at the TD Waterhouse Discount Brokerage Investor Centre in downtown Vancouver (check out our review here).  As you can see from the image below, this is an “unadvertised” deal that gives customers who open a new TD Waterhouse Discount Brokerage account 10 free trades if they …

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Update on Questrade Pricing Change

Questrade Pricing Change: Here’s one for the “you don’t see this from a financial institution every day”.  We reported a recent announcement from Questrade in which they stated that they would be implementing a minimum activity threshold of one trade a month starting in July 2012 for those account holders with less than $5000 in their account. Those who did …

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Questrade to charge minimum activity fee starting July 10

Questrade just made the following announcement via email: Inactivity fee As of July 10th, 2012, an inactivity fee of $9.95 per month is charged to clients with under $5,000 in combined equity for any month in which the client does not complete one commissionable trade. Clients are exempt from this fee if the account is open for less than 6 …

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