Comments on: Canadian Discount Brokerage Review and Comparison for TFSA and RRSP http://financialhighway.com/canadian-discount-brokerage-review-and-comparison/ Personal finance blog discussing investments, savings, insurance and financial planning ideas to grow wealth Mon, 21 May 2012 11:00:10 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Paul http://financialhighway.com/canadian-discount-brokerage-review-and-comparison/#comment-44691 Paul Wed, 09 May 2012 17:28:50 +0000 http://financialhighway.com/?p=474#comment-44691 Agree with the negative comment about Scotia iTrade. Many things seem okay with the site etc., but teh customer service is horrible. If you have problems, and you will, you will be in for the most frustrating experience and not get your problem fixed. You will have to give up. The latest thing is the new system does not allow you to withdraw funds if you have a negative cash amount in you margin account! ie you have to sell out your acct before you can withdraw funds! I cant believe it but after 40 minutes on hold this is what I am being told. AVOID SCOTIA !!! Agree with the negative comment about Scotia iTrade. Many things seem okay with the site etc., but teh customer service is horrible. If you have problems, and you will, you will be in for the most frustrating experience and not get your problem fixed. You will have to give up.

The latest thing is the new system does not allow you to withdraw funds if you have a negative cash amount in you margin account! ie you have to sell out your acct before you can withdraw funds! I cant believe it but after 40 minutes on hold this is what I am being told.

AVOID SCOTIA !!!

]]> By: TFSA vs RRSP vs Non-Registered? What is the right account for your investments? http://financialhighway.com/canadian-discount-brokerage-review-and-comparison/#comment-44443 TFSA vs RRSP vs Non-Registered? What is the right account for your investments? Tue, 08 May 2012 14:50:51 +0000 http://financialhighway.com/?p=474#comment-44443 [...] Canadian Discount Brokerage Review and Comparison for TFSA and RRSP [...] [...] Canadian Discount Brokerage Review and Comparison for TFSA and RRSP [...]

]]> By: Stew http://financialhighway.com/canadian-discount-brokerage-review-and-comparison/#comment-40315 Stew Sun, 26 Feb 2012 05:17:04 +0000 http://financialhighway.com/?p=474#comment-40315 In my experience, Scotia will do anything to cause you grief. They cheat on bid and ask, they look for ways to steal your money, they are inefficient, and the customer service is DREADFUL. Talk to three, get three different answers. I have heard a lot of horror stories about them since I closed my account there, and I believe they are all true. They have stolen money from my account, traders are unethical. I think if we had a decent securities regulation in Canada they would all be in jail .... alas! In my experience, Scotia will do anything to cause you grief. They cheat on bid and ask, they look for ways to steal your money, they are inefficient, and the customer service is DREADFUL. Talk to three, get three different answers. I have heard a lot of horror stories about them since I closed my account there, and I believe they are all true. They have stolen money from my account, traders are unethical. I think if we had a decent securities regulation in Canada they would all be in jail …. alas!

]]> By: Troy http://financialhighway.com/canadian-discount-brokerage-review-and-comparison/#comment-39816 Troy Mon, 13 Feb 2012 15:17:14 +0000 http://financialhighway.com/?p=474#comment-39816 I use scotiaitrade formerly tradefreedom since 2006 and it is horrible service and they still havent reversed the fees they illegally charged me. I been out for 2 weeks now as they promise to call me back to fix a technical issue with my platform. I been promised a callback everyday now and they just dont return calls or try to resolve issues. Tradefreedom was great, Scotiaitrade is incredibly horrible I use scotiaitrade formerly tradefreedom since 2006 and it is horrible service and they still havent reversed the fees they illegally charged me. I been out for 2 weeks now as they promise to call me back to fix a technical issue with my platform.
I been promised a callback everyday now and they just dont return calls or try to resolve issues. Tradefreedom was great, Scotiaitrade is incredibly horrible

]]> By: Money Hacks Carnival #73: Working For The Weekend Edition | Money Beagle http://financialhighway.com/canadian-discount-brokerage-review-and-comparison/#comment-38936 Money Hacks Carnival #73: Working For The Weekend Edition | Money Beagle Tue, 24 Jan 2012 17:42:25 +0000 http://financialhighway.com/?p=474#comment-38936 [...] presents What is a Roth IRA? posted at Wise Money Matters.Ray @ Financial Highway presents Canadian Discount Brokerage Review and Comparison for TFSA and RRSP posted at Financial Highway.TIP Guy presents Estimation of Beta-Based Expected Returns posted at [...] [...] presents What is a Roth IRA? posted at Wise Money Matters.Ray @ Financial Highway presents Canadian Discount Brokerage Review and Comparison for TFSA and RRSP posted at Financial Highway.TIP Guy presents Estimation of Beta-Based Expected Returns posted at [...]

]]> By: stephen http://financialhighway.com/canadian-discount-brokerage-review-and-comparison/#comment-14947 stephen Fri, 30 Sep 2011 04:48:12 +0000 http://financialhighway.com/?p=474#comment-14947 hey there, I'm new into scalping (daytrading). I'm set up with interactive brokers and using ninja trader for my technical charting etc. I'd like to get into using a TFSA account to trade with but can't find any descent Canadian brokers with good charting capabilities like Ninja or Worden Brothers. Do you have any suggestions? also, why would you go with CMC? hey there, I’m new into scalping (daytrading). I’m set up with interactive brokers and using ninja trader for my technical charting etc. I’d like to get into using a TFSA account to trade with but can’t find any descent Canadian brokers with good charting capabilities like Ninja or Worden Brothers.
Do you have any suggestions? also, why would you go with CMC?

]]> By: Steve http://financialhighway.com/canadian-discount-brokerage-review-and-comparison/#comment-14786 Steve Tue, 27 Sep 2011 22:34:03 +0000 http://financialhighway.com/?p=474#comment-14786 I think if it's over one year...they have o grounds to request any money from you. What kind of broker does that and even after you talk to them, they could not figured it out. I think if they take you to court, they will have no grounds...but I'm not an expert so hopefully someone will have a better advice. Good luck my friend...Sorry you lost that money during 2008---Many of us did... I think if it’s over one year…they have o grounds to request any money from you.
What kind of broker does that and even after you talk to them, they could not figured it out.

I think if they take you to court, they will have no grounds…but I’m not an expert so hopefully someone will have a better advice.

Good luck my friend…Sorry you lost that money during 2008—Many of us did…

]]> By: Clodian http://financialhighway.com/canadian-discount-brokerage-review-and-comparison/#comment-14783 Clodian Tue, 27 Sep 2011 20:57:41 +0000 http://financialhighway.com/?p=474#comment-14783 Just wondering... In 2007 I had some gold stock AMNP 'added' to my account(175,000 shares for $1.25 each)). I did not buy that stock I chatted with one of the reps-he said he wasn't sure why that stock was into my account. He did some searching, but came back with the same answer. Then he said if I could try to trade it then I should since it was in my account. So I did. I sold all of it..since it was a cheap stock and it was going down in value. 3 years later they called and said they realized they put the stock into my account and it was an error and they wanted all the money for it. I explained to them that I asked one of your reps and was told I could sell the stock. I had lost most of that money trading in 2008..but want to know where are my grounds on this issue? I'm mot mentioning the broker's name, but was one of those with poor customer service and not very knowledgeable reps. Any help would be greatly appreciated. Klodian Just wondering…
In 2007 I had some gold stock AMNP ‘added’ to my account(175,000 shares for $1.25 each)).
I did not buy that stock
I chatted with one of the reps-he said he wasn’t sure why that stock was into my account. He did some searching, but came back with the same answer.
Then he said if I could try to trade it then I should since it was in my account.
So I did. I sold all of it..since it was a cheap stock and it was going down in value.

3 years later they called and said they realized they put the stock into my account and it was an error and they wanted all the money for it.
I explained to them that I asked one of your reps and was told I could sell the stock.

I had lost most of that money trading in 2008..but want to know where are my grounds on this issue?
I’m mot mentioning the broker’s name, but was one of those with poor customer service and not very knowledgeable reps.
Any help would be greatly appreciated.

Klodian

]]> By: John http://financialhighway.com/canadian-discount-brokerage-review-and-comparison/#comment-14145 John Sat, 10 Sep 2011 19:33:14 +0000 http://financialhighway.com/?p=474#comment-14145 As an active investor for "over 7 years" managing a profile where 35% of your entire funds amounts to approximately $900 some odd dollars, I'd say you're full of shit. Best, John As an active investor for “over 7 years” managing a profile where 35% of your entire funds amounts to approximately $900 some odd dollars, I’d say you’re full of shit.

Best,

John

]]> By: Wally Kasey http://financialhighway.com/canadian-discount-brokerage-review-and-comparison/#comment-13762 Wally Kasey Tue, 16 Aug 2011 10:54:45 +0000 http://financialhighway.com/?p=474#comment-13762 QTrade is the bestest by a mile. OK, so they don't have a commission below $10, BUT they have the best on-line tools, customer service that is actually answered by a live person and not phone hell, and they are on top of all the major developments. If a competitor instigates an "innovation", you can be sure that QTrade will follow ASAP. I usually trade in lots of 1000 or more shares but for those occassions when I do trade less than 1000, I don't mind paying a few extra dollars over Questrades rates. My next fav choice is BMO Investorline (if you can open a min $50K account). Anything to stay away from Questrade. Those guys are crapola. Yes, you might save a few coins, but one screwup by them (and it will happen....missed trade because site is down, wrong trade, misplaced funds) and you'll lose or regret any potential "savings". QTrade is the bestest by a mile. OK, so they don’t have a commission below $10, BUT they have the best on-line tools, customer service that is actually answered by a live person and not phone hell, and they are on top of all the major developments. If a competitor instigates an “innovation”, you can be sure that QTrade will follow ASAP. I usually trade in lots of 1000 or more shares but for those occassions when I do trade less than 1000, I don’t mind paying a few extra dollars over Questrades rates. My next fav choice is BMO Investorline (if you can open a min $50K account). Anything to stay away from Questrade. Those guys are crapola. Yes, you might save a few coins, but one screwup by them (and it will happen….missed trade because site is down, wrong trade, misplaced funds) and you’ll lose or regret any potential “savings”.

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