Comments on: E-Trade (now iTrade) Canada Review http://www.milliondollarjourney.com/e-trade-canada-review.htm Building Wealth through Saving and Investing Sat, 21 Nov 2009 03:00:37 -0500 http://wordpress.org/?v=abc hourly 1 By: Trader http://www.milliondollarjourney.com/e-trade-canada-review.htm/comment-page-1#comment-107217 Trader Sun, 15 Nov 2009 19:45:50 +0000 http://www.milliondollarjourney.com/e-trade-canada-review.htm#comment-107217 I am a Trade Freedom customer using the trading platform the Edge, from the time on when Scotia bought Trade Freedom, the service has significantly deteriorated while in the same time Scotia has increased the fees across the board; the latest new fee they implemented is a $30.00 charge for the platform which used to be free with Trade freedom. At this time I am looking for another broker. Any suggestions? I am a Trade Freedom customer using the trading platform the Edge, from the time on when Scotia bought Trade Freedom, the service has significantly deteriorated while in the same time Scotia has increased the fees across the board; the latest new fee they implemented is a $30.00 charge for the platform which used to be free with Trade freedom. At this time I am looking for another broker. Any suggestions?

]]> By: Latest Penny Stock Tips http://www.milliondollarjourney.com/e-trade-canada-review.htm/comment-page-1#comment-106750 Latest Penny Stock Tips Sat, 31 Oct 2009 04:27:54 +0000 http://www.milliondollarjourney.com/e-trade-canada-review.htm#comment-106750 They were pretty bad before and I don't think I'd chance it with the new outfit since we already moved everything to TD. They were pretty bad before and I don’t think I’d chance it with the new outfit since we already moved everything to TD.

]]> By: Newbie http://www.milliondollarjourney.com/e-trade-canada-review.htm/comment-page-1#comment-106698 Newbie Thu, 29 Oct 2009 20:32:37 +0000 http://www.milliondollarjourney.com/e-trade-canada-review.htm#comment-106698 U serious? I have been using them for a month now, and I agree with everyone, their customer service sucks, but here and there u will get a good agent. Otherwise time will tell if they are really bad, because their platform and everything is fine. U serious? I have been using them for a month now, and I agree with everyone, their customer service sucks, but here and there u will get a good agent.
Otherwise time will tell if they are really bad, because their platform and everything is fine.

]]> By: GG http://www.milliondollarjourney.com/e-trade-canada-review.htm/comment-page-1#comment-106602 GG Tue, 27 Oct 2009 01:53:05 +0000 http://www.milliondollarjourney.com/e-trade-canada-review.htm#comment-106602 lost 1000.00 bucks today because of itrade. I called and yelled and they wouldn't help , got 2 free trades. I was in TNA for 30k, up 400.00 , went to put in my sell order, and the ticket said my account did not exist. 0.00 money in my account 250k gone. I called yelling, market tanking ! and they said because we're are in the process of switching over your account to a margin account......more yelling...get it sold over the phone, wanted to charge me a 45.00 fee, more yelling...no charge sir, sorry.... I want 100 free trades, no sir, I'll give you 2 , hang up..... no more itrade, switching again to someone else.... lost 1000.00 bucks today because of itrade.

I called and yelled and they wouldn’t help , got 2 free trades.

I was in TNA for 30k, up 400.00 , went to put in my sell order, and the ticket said my account did not exist. 0.00 money in my account 250k gone.

I called yelling, market tanking ! and they said because we’re are in the process of switching over your account to a margin account……more yelling…get it sold over the phone, wanted to charge me a 45.00 fee, more yelling…no charge sir, sorry…. I want 100 free trades, no sir, I’ll give you 2 , hang up…..

no more itrade, switching again to someone else….

]]> By: newbie http://www.milliondollarjourney.com/e-trade-canada-review.htm/comment-page-1#comment-105823 newbie Tue, 06 Oct 2009 22:55:39 +0000 http://www.milliondollarjourney.com/e-trade-canada-review.htm#comment-105823 HHH, ya i called them recently for info. They make it sound good but then there is lots of fine print. They said there is no free 100 trades if you have less than $50,000. So I am still thinking if I should sign up. Holding my money for 1 week! thats too much. Also, I think there is a min. usage fee right? I have been told that TOS is very good. HHH, ya i called them recently for info. They make it sound good but then there is lots of fine print. They said there is no free 100 trades if you have less than $50,000. So I am still thinking if I should sign up.

Holding my money for 1 week! thats too much. Also, I think there is a min. usage fee right?
I have been told that TOS is very good.

]]> By: HHH http://www.milliondollarjourney.com/e-trade-canada-review.htm/comment-page-1#comment-105740 HHH Sun, 04 Oct 2009 17:17:32 +0000 http://www.milliondollarjourney.com/e-trade-canada-review.htm#comment-105740 I recently opened scotiaitrade account. The account was opened quickly, however they forgot to transfer the account from my previous broker. When I phoned to inquire about it, first it seemed to them that I didnt send the transfer form to them, but after being placed on hold, they were able to find it in their office. Took another week to transfer over.....the the comission fee. I had over 50 in the account, however, I was given the 19.99 comission fee. Phoned once, they told me this would be corrected for the next day. Two days later, nothing changed so I phoned again and they changed it few hours later....... As for the easy transfer between bank account, if you want to transfer mony out it aint that easy, takes up to 10 days for the whole process to take place......As for the 100 free trades..they cover only up to 9.99........lots of fine print and misleading info............yet have to make a trade.....will update my experience in few weeks...... I recently opened scotiaitrade account. The account was opened quickly, however they forgot to transfer the account from my previous broker. When I phoned to inquire about it, first it seemed to them that I didnt send the transfer form to them, but after being placed on hold, they were able to find it in their office. Took another week to transfer over…..the the comission fee. I had over 50 in the account, however, I was given the 19.99 comission fee. Phoned once, they told me this would be corrected for the next day. Two days later, nothing changed so I phoned again and they changed it few hours later…….
As for the easy transfer between bank account, if you want to transfer mony out it aint that easy, takes up to 10 days for the whole process to take place……As for the 100 free trades..they cover only up to 9.99……..lots of fine print and misleading info…………yet have to make a trade…..will update my experience in few weeks……

]]> By: Upcoming Tax Free Savings Accounts (TFSA) | Million Dollar Journey http://www.milliondollarjourney.com/e-trade-canada-review.htm/comment-page-1#comment-103254 Upcoming Tax Free Savings Accounts (TFSA) | Million Dollar Journey Mon, 31 Aug 2009 23:49:48 +0000 http://www.milliondollarjourney.com/e-trade-canada-review.htm#comment-103254 [...] E-Trade (Investment account) ($9.99 – $19.99/trade) Starting January 2009, E*TRADE Canada will be offering the new Tax-Free Savings Account, which was recently announced by the Government of Canada in the 2008 Federal Budget. [...]

[...] E-Trade (Investment account) ($9.99 – $19.99/trade) Starting January 2009, E*TRADE Canada will be offering the new Tax-Free Savings Account, which was recently announced by the Government of Canada in the 2008 Federal Budget. [...]

]]> By: May http://www.milliondollarjourney.com/e-trade-canada-review.htm/comment-page-1#comment-103099 May Sun, 30 Aug 2009 20:30:10 +0000 http://www.milliondollarjourney.com/e-trade-canada-review.htm#comment-103099 I have very bad experience with questrade so I am thinking to open an account with etrade canada. Is this a good company to trade stock? I will follow up to see your comments. Thank you all. I have very bad experience with questrade so I am thinking to open an account with etrade canada. Is this a good company to trade stock? I will follow up to see your comments. Thank you all.

]]> By: John http://www.milliondollarjourney.com/e-trade-canada-review.htm/comment-page-1#comment-91831 John Mon, 13 Jul 2009 16:16:31 +0000 http://www.milliondollarjourney.com/e-trade-canada-review.htm#comment-91831 Service has gone WAY downhill since Scotia took over. "Realtime" quotes are actually previous business day end-of-day quotes for anything that trades on NYSE-ARCA. Telephone customer support has gone from E*Trade-Canada-bad to functionally non-existent. Online company updates happen in geologic time, for example, Crescent Point announced conversion from income trust to corporation March 4 2009, executed change July 2 (CPG.UN is now CPG). iTrade is STILL (as of Jul 13) quoting as CPG.UN close of biz July 2 and is un-tradeable in my account. My suspicion is that when Scotia took over, they did not acquire source code for online programming from E*Trade. Consequently they are now unable to make program upgrades or modifications. My advice based on personal experience... STEER CLEAR OF iTRADE!! Service has gone WAY downhill since Scotia took over. “Realtime” quotes are actually previous business day end-of-day quotes for anything that trades on NYSE-ARCA. Telephone customer support has gone from E*Trade-Canada-bad to functionally non-existent. Online company updates happen in geologic time, for example, Crescent Point announced conversion from income trust to corporation March 4 2009, executed change July 2 (CPG.UN is now CPG). iTrade is STILL (as of Jul 13) quoting as CPG.UN close of biz July 2 and is un-tradeable in my account.

My suspicion is that when Scotia took over, they did not acquire source code for online programming from E*Trade. Consequently they are now unable to make program upgrades or modifications.

My advice based on personal experience… STEER CLEAR OF iTRADE!!

]]> By: Ryan http://www.milliondollarjourney.com/e-trade-canada-review.htm/comment-page-1#comment-88615 Ryan Tue, 23 Jun 2009 00:14:59 +0000 http://www.milliondollarjourney.com/e-trade-canada-review.htm#comment-88615 Probably the worst customer service of any of the brokerages I have been with. They lose forms like it is their hobby. They lost my quick transfer application, my father's account application, my father's RRSP transfer form, and my roommate's account application form. You know things are bad when you have to call and get an employee to check if the address written on the website is in face the correct one. I have been with them for about 3 years now and am in the process of closing my account and moving to CIBC Investors Edge. Probably the worst customer service of any of the brokerages I have been with. They lose forms like it is their hobby. They lost my quick transfer application, my father’s account application, my father’s RRSP transfer form, and my roommate’s account application form. You know things are bad when you have to call and get an employee to check if the address written on the website is in face the correct one. I have been with them for about 3 years now and am in the process of closing my account and moving to CIBC Investors Edge.

]]> By: StockStalker http://www.milliondollarjourney.com/e-trade-canada-review.htm/comment-page-1#comment-87839 StockStalker Thu, 18 Jun 2009 05:18:46 +0000 http://www.milliondollarjourney.com/e-trade-canada-review.htm#comment-87839 For the past couple of months, or so I have been unable to purchase $2-$5 TSX-listed stocks on margin. Would anyone confirm whether $2 stocks are still marginable with iTrade, or is this just fiction and that iTrade forgot to update their margin rules under Help section when they merged with Scotia Investing? For the past couple of months, or so I have been unable to purchase $2-$5 TSX-listed stocks on margin. Would anyone confirm whether $2 stocks are still marginable with iTrade, or is this just fiction and that iTrade forgot to update their margin rules under Help section when they merged with Scotia Investing?

]]> By: Smith http://www.milliondollarjourney.com/e-trade-canada-review.htm/comment-page-1#comment-87115 Smith Sun, 14 Jun 2009 00:33:27 +0000 http://www.milliondollarjourney.com/e-trade-canada-review.htm#comment-87115 I been using e*trade now i*trade canada for a few years. There is a fee charge list and if you plan to invest in US equities its best to have USD account. I never had a problem with their service provider. Although I have more than 5k invested and did not use them as financial advisors. (called them up one time to correct a mistake in using cdn instead of from my usd account. It was fixed fast. Their system is accurate and pretty secure.) I found lots of comments are ridiculous. You state one thing yet fail to provide the other thing you had find better and what exactly was wrong with it. I checked the fee charge list on others if you can find it that is and found itrade to be competitive. I been using e*trade now i*trade canada for a few years. There is a fee charge list and if you plan to invest in US equities its best to have USD account.

I never had a problem with their service provider. Although I have more than 5k invested and did not use them as financial advisors. (called them up one time to correct a mistake in using cdn instead of from my usd account. It was fixed fast. Their system is accurate and pretty secure.)

I found lots of comments are ridiculous. You state one thing yet fail to provide the other thing you had find better and what exactly was wrong with it.

I checked the fee charge list on others if you can find it that is and found itrade to be competitive.

]]> By: E*Trade problems http://www.milliondollarjourney.com/e-trade-canada-review.htm/comment-page-1#comment-71765 E*Trade problems Wed, 25 Feb 2009 16:03:13 +0000 http://www.milliondollarjourney.com/e-trade-canada-review.htm#comment-71765 Would definetely recommend against E*Trade. There are a lot of hidden fees - low activity, issues cheque, etc., etc. The worst part is that all these fees are not clearly documented so you don;t find out about them until after you have opened an account. I switched to Interactive Brokers and found it much more straigth forward. Would definetely recommend against E*Trade. There are a lot of hidden fees – low activity, issues cheque, etc., etc. The worst part is that all these fees are not clearly documented so you don;t find out about them until after you have opened an account. I switched to Interactive Brokers and found it much more straigth forward.

]]> By: Thinkingaboutit http://www.milliondollarjourney.com/e-trade-canada-review.htm/comment-page-1#comment-60991 Thinkingaboutit Tue, 18 Nov 2008 18:06:13 +0000 http://www.milliondollarjourney.com/e-trade-canada-review.htm#comment-60991 Im seeing way to many people complaining about Forex fees for trading US equities. The people who are complaining say they are active traders yet they seem extremely unintelligable. Learn to read before opening an account. I dont see any hidden fees at any brokerage. Yes they are in fine print but its your fault for not reading the fine print. Back to forex fees for us equities. If you trade Us equities just change your account into USD this way you dont get hit with a fee everytime you trade. Before you bash a company and sway people away from them with your comments make sure it wasnt your own stupidity that caused you the problem. I myself am looking for a new brokerage and im having a tough time. I have over 25k but less than 100k and im looking at Etrade, IB, Tradefreedom, Questrade. Etrade seems the safest in security terms, IB I hate their platform completely, Tradefreedom seems reasonable but they seem amateur for some reason, Questrade cheap commisions but heard way to many problems with them regarding people's money in account etc etc . I am currently with TDW and was an active trader but i havent traded in about a year. I will be an active trader again but until i do 150 trades a quarter ill be paying $30 fees which is unacceptable. I would love to stay with them but they are unwilling to help me and i will be closing both of my accounts with them all because of this. TO me thats stupid business but hey i dont own a bank. Im seeing way to many people complaining about Forex fees for trading US equities. The people who are complaining say they are active traders yet they seem extremely unintelligable. Learn to read before opening an account. I dont see any hidden fees at any brokerage. Yes they are in fine print but its your fault for not reading the fine print. Back to forex fees for us equities. If you trade Us equities just change your account into USD this way you dont get hit with a fee everytime you trade. Before you bash a company and sway people away from them with your comments make sure it wasnt your own stupidity that caused you the problem.

I myself am looking for a new brokerage and im having a tough time. I have over 25k but less than 100k and im looking at Etrade, IB, Tradefreedom, Questrade. Etrade seems the safest in security terms, IB I hate their platform completely, Tradefreedom seems reasonable but they seem amateur for some reason, Questrade cheap commisions but heard way to many problems with them regarding people’s money in account etc etc . I am currently with TDW and was an active trader but i havent traded in about a year. I will be an active trader again but until i do 150 trades a quarter ill be paying $30 fees which is unacceptable. I would love to stay with them but they are unwilling to help me and i will be closing both of my accounts with them all because of this. TO me thats stupid business but hey i dont own a bank.

]]> By: Some Guy http://www.milliondollarjourney.com/e-trade-canada-review.htm/comment-page-1#comment-60829 Some Guy Mon, 17 Nov 2008 21:31:14 +0000 http://www.milliondollarjourney.com/e-trade-canada-review.htm#comment-60829 E*Trade is very speedy. If you make a max $5K internet payment from a Canadian bank before 1PM, the money "arrives" in your E*Trade account the next business day, regardless of whether you've set it up for quick EFT, or not. The down side is, you can trade with the money right away, but you can't withdraw it back to your bank account until the 10 business day holding period passes. So far, I'm impressed. E*Trade is very speedy. If you make a max $5K internet payment from a Canadian bank before 1PM, the money “arrives” in your E*Trade account the next business day, regardless of whether you’ve set it up for quick EFT, or not. The down side is, you can trade with the money right away, but you can’t withdraw it back to your bank account until the 10 business day holding period passes. So far, I’m impressed.

]]> By: Hans http://www.milliondollarjourney.com/e-trade-canada-review.htm/comment-page-1#comment-60608 Hans Sat, 15 Nov 2008 17:30:58 +0000 http://www.milliondollarjourney.com/e-trade-canada-review.htm#comment-60608 Stay away... Uneducated staff, imposible to escalate issues Hidden fees - what you save in trading commission you will pay in FX and low interest rates New owners (Scotia) don't care either Stay away…

Uneducated staff, imposible to escalate issues
Hidden fees – what you save in trading commission you will pay in FX and low interest rates
New owners (Scotia) don’t care either

]]> By: Wedding Planner http://www.milliondollarjourney.com/e-trade-canada-review.htm/comment-page-1#comment-60353 Wedding Planner Thu, 13 Nov 2008 04:30:17 +0000 http://www.milliondollarjourney.com/e-trade-canada-review.htm#comment-60353 No, canadians cant do that with their etrade due to USA stupid laws. No, canadians cant do that with their etrade due to USA stupid laws.

]]> By: dave http://www.milliondollarjourney.com/e-trade-canada-review.htm/comment-page-1#comment-46042 dave Tue, 29 Jul 2008 22:11:27 +0000 http://www.milliondollarjourney.com/e-trade-canada-review.htm#comment-46042 I had been an Etrade customer since 2003 when I bought a small stock, not worth very much (ended up being less than $25 value over the last few years), and recently bought a stock worth a few thousand a few months ago. I was shocked to see a my cash account balance -$25, for a quarterly fee! Apparently you need to have over $5000 in assets with them before they waive this fee. I had asked why they never charged me this over the last 5 years, and their response was "I really don't know, consider yourself lucky!". I switched my account and future business over to TD Waterhouse, which has no fees as long as you sign up for e-statements. (of course trading fees apply, but no inactivity fees). The only reason they never charged me, was because they knew if they had, and my account was not worth anything, I would simply not do future business with them. Shady bastards. I had been an Etrade customer since 2003 when I bought a small stock, not worth very much (ended up being less than $25 value over the last few years), and recently bought a stock worth a few thousand a few months ago. I was shocked to see a my cash account balance -$25, for a quarterly fee! Apparently you need to have over $5000 in assets with them before they waive this fee.

I had asked why they never charged me this over the last 5 years, and their response was “I really don’t know, consider yourself lucky!”. I switched my account and future business over to TD Waterhouse, which has no fees as long as you sign up for e-statements. (of course trading fees apply, but no inactivity fees).

The only reason they never charged me, was because they knew if they had, and my account was not worth anything, I would simply not do future business with them. Shady bastards.

]]> By: E-Trade, Seat Sales and Weekend Reading - July 18, 2008 | Million Dollar Journey http://www.milliondollarjourney.com/e-trade-canada-review.htm/comment-page-1#comment-44464 E-Trade, Seat Sales and Weekend Reading - July 18, 2008 | Million Dollar Journey Fri, 18 Jul 2008 09:30:36 +0000 http://www.milliondollarjourney.com/e-trade-canada-review.htm#comment-44464 [...] Last year, Scotia Bank purchased TradeFreedom. Seems that their quest to increase their online discount brokerage market share isn’t over yet. This week, they announced the purchase of E-Trade Canada! [...]

[...] Last year, Scotia Bank purchased TradeFreedom. Seems that their quest to increase their online discount brokerage market share isn’t over yet. This week, they announced the purchase of E-Trade Canada! [...]

]]> By: FrugalTrader http://www.milliondollarjourney.com/e-trade-canada-review.htm/comment-page-1#comment-32121 FrugalTrader Mon, 21 Apr 2008 21:39:11 +0000 http://www.milliondollarjourney.com/e-trade-canada-review.htm#comment-32121 Doug, they will only charge you the inactivity fee if you have less than $5k balance in your account. Doug, they will only charge you the inactivity fee if you have less than $5k balance in your account.

]]>