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ONLINE BROKERAGE REVIEW

Virtual Brokers Review 2021

Updated July 13, 2021

Quick Info

  • Standard Equity Commission
    Min: $1.99 Max: $7.99
  • Best Commission Price
    $3.99/trade
  • Minimum to Open Account
    Not Required
  • Maintenance/Inactivity Fees
    $24.95/Quarter
  • Commission-free ETF Trading
    Yes (Buy only)
  • Young Investor Offer
    Yes (Age < 26)

HIGHLIGHTS

Virtual Brokers, a division of BBS Securities Inc., is one of the youngest of the Canadian online brokerages. Although (and maybe because) they haven’t been around as long as other brokerages, Virtual Brokers offers pricing and platforms that help them stand out from their competitors.

Virtual Brokers offers a number of account and pricing options for investors and traders alike, so anyone considering Virtual Brokers should understand their own trading style and their own particular needs in order to select the most suitable products and services. Active traders and those looking for real-time data need to consider the costs for data subscription and streaming quotes as part of the total cost with this provider.

Brokerage Breakdown

ACCOUNT TYPES OFFERED

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    Registered Accounts

    Non-Registered Accounts

ACCOUNT FEES & REQUIREMENTS

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    Registered Accounts

    Non-Registered Accounts

TRADING COMMISSIONS & FEES

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ONLINE BROKERAGE RANKINGS

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  • Sorry, no data is available.

CONTACT

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Investor Feedback

myprudentlife🇨🇦
RNFaunillan
9/20/2021
RT @RNFaunillan: How quick your broker posts dividends? We are familiar with these 3: Questrade, Virtual Brokers and Wealthsimple. In ou…
MightyManorMan
PersonalFinanceCanada
9/8/2021
I've dealt with 3, so they are the only ones that I can report on... **Wealthsimple** is exactly that, too simple. No margin, limited stock availability, no research tools, no new offerings, no options and no USD native holdings. Not to mention no ability to have limit buy/sell for long periods. **Virtual Brokers** is somewhere in the middle, but again limited USD native holdings (fee based). I'm grandfathered on a 1c a share deal. Execution is good. Some share offerings. Be very careful with orders for the tendering department. **BMOInvestorline** is much more robust. I love having access to Level II quotes, hold long buy/sell orders, buy/sell options. There are some great tools and reports from CFRA and Morningstar as well as valuation tools. Email changes in ratings changes, etc. But some boomer decided to pull internal email support and put everyone on the phones, so if you need intervention, you now have to spend time on the phones... apparently no one has ever heard of email and introverts before. Yes, I pay transaction fees, but I can also keep stocks in USD and have seperate USD balances for my RRSP and Margin, so I don't have to pay exchange each time I buy and sell. And likely the money that I spend I save quite a bit on orders being able to see the Level II prices and using limits None of these handle anything but US and Canadian markets other than buying via those markets. So you can't trade on the EuroNext or LSE.... but VB and BMO will do pink sheets, Y and F shares and of course, ADRs/CDRs. They can be a day late with getting a new IPO symbol loaded.... but then WS can be a few months late with that.
MightyManorMan
PersonalFinanceCanada
8/31/2021
Sure. Have 20. But the contribution limit doesn't change. I set my first up at BMO and then set my second one at Virtual Brokers, because they offered me a penny a share trades.
boblawblawslawblog2
PersonalFinanceCanada
8/31/2021
I’ve got my TFSA and Cash account at virtual Brokers. RRSP at questrade. Soon I will have a RRSP at RBC. For me it all came down to fee minimization, but I too was worried about not diversifying my account holders. I just don’t like the idea that if an account got hacked literally my entire nest egg could be compromised.
shimszy
CanadianInvestor
8/29/2021
No need to when theres competition / retail doesn't care enough. IBKR / national bank / Virtual brokers probably don't even have the lion's share of retail traders.