The Suns Financial Diary posted this question for his readers and I thought that I would ask the same question to my readers.
For those of you with discount brokerage accounts, which one is your favorite? Or, if you only have one, who do you hold your account with and why?
Favorite Discount Brokerage?
- Questrade (29%, 57 Votes)
- TD Waterhouse (20%, 39 Votes)
- E-Trade (12%, 24 Votes)
- Interactive Brokers (9%, 18 Votes)
- BMO (8%, 15 Votes)
- TradeFreedom (7%, 14 Votes)
- CIBC (5%, 9 Votes)
- Royal Bank (5%, 9 Votes)
- Credential Direct (3%, 6 Votes)
- Scotia Bank (2%, 4 Votes)
Total Voters: 194
I personally have multiple discount brokerage accounts as they as have different purposes. When I started investing many years ago, I opened an account with CIBC Investors Edge and still have an account with them. From there, I opened an account with Interactive Brokers to test out my trading skills, then an account with Questrade for cheap RRSP trades. All have strengths and weaknesses depending on the purpose of the account.
We have quite a bit of material on discount brokerages written here, you can find reviews on: