RBC Direct Investing stands out for calculating rate of return across all accounts. At the time, the local TD bank had a TD Direct Investing office and optiions went well. Credential Direct, by contrast, often answers emails in under an hour, but its other contact options are limited. Leave a comment Cancel reply. Thanks for letting me voice my opinion and warning potential clients. Use powerful tools to make smart investment decisions.
This is paid subscriber content. There are different types of paid subscriber content. He moved to BMO InvestorLine earlier this year. Surviscor, a business analysis firm based in Oakville, Ont. The year has already seen some big fee reductions by the bank-owned brokerages. As Balakrishnan learned, however, low commissions are not the only factor to consider.
If there is a problem with the account you want it fixed quickly. When it comes time to open an account, start by looking for a brokerage that allows online applications—we found BMO InvestorLine and Qtrade Investor have the most efficient process, while some such as TD Direct Investing make you visit a branch. When buying and selling securities, order screens should be intuitive to minimize trading errors. If you get confused, the help screen should be easily at hand.
No brokerage matches it for the sheer number of ways settings and displays can be customized. RBC Direct Investing and Scotia iTRADE make this process especially seamless. Unfortunately, quality of service is hard to measure. Score one for Scotia iTRADE, which ranked very high for its prompt email responses and new live chat feature. Runner-up is Questrade, with responsive chat and call-back features.
Credential Direct, by contrast, often answers emails in under an hour, but its other contact options are limited. Except for highly active traders, these are often within a few dollars of each other. Questrade and Virtual Brokers offer the lowest stated commissions: both have various plans from which to choose, including a penny-per-share offering.
They also offer free ETF purchases regular commissions usually apply when selling. Consider features like integrated account balances, detailed histories, portfolio analytics and performance reports. Surviscor looks for online availability of statements, trade confirmations and tax slips. RBC Direct Investing stands out for calculating rate of return across all accounts. RBC scores high for reports that drill down into fund holdings to determine overall asset mix and offers suggestions for diversifying or rebalancing.
You can even enter your investing goals and get progress reports. BMO InvestorLine is a close second with similar portfolio analytics and online access to wide range of documents. Top picks : Qtrade, TD Direct Investing Active investors value features like watch lists, stock screeners, market news, analyst reports and tools for fundamental and technical analysis. This research often comes from third parties like Morningstar, Lipper or Recognia, so the quality is often similar, but brokerages differ in the depth and variety of tools offered free.
TD Direct Investing excels here, with a comprehensive research section that includes news and commentary from popular media and in-house expertsin-depth market outlook reports, industry and sector-specific data, and several screening tools, including one for ETFs. Qtrade has a rich store of research tools, including multiple screeners and analyst recommendations. At iTRADE and TD, you must buy GICs by phone.
Scotia iTRADE has a U. Do you have similar rankings for non-resident Canadians who live and work in Europe? Earnings are paid in Euros and investments are non-registered. I am struggling to find ratings for discount brokerages that meet our need. Everything they look at is charts over the years. We the customer saw it coming so the banks had lots of time to move the clients money to avoid some of the big loses, but their comment always is wait it out, that is why so many clients loss their money and it will happen again will they be prepared this time?
Banks are only in the investments to make money for themselves. I find some like TD Waterhouse have got lazy the money sits they do not work with it but they will take their management fees out just like they banking fees. At the time, the local TD bank had a TD Direct Investing office and things went well. However, options trading rbc direct investing cutting the TD Direct Investing positions at the TD branches, you are left dealing with the bank, who then submits to TD Direct Investing on your behalf.
The local TD branck cannot open or modify any account, they can only submit on your behalf. To summarize, last year, when we opened an account for my wife, we ran into many complications with the local TD branch. When they mistakenly opened the wrong account type for my wife, we advised them to make the correction. It took two and a half months, many trips in person to the branch, and many calls to TD Investing. I stated to them on several occasions that this was terrible service and that their service delivery model was seriously flawed.
My wife and I joined TD Options trading rbc direct investing Investing upon the recommendation of MoneySense. I would advise any new client to think twice before going to TD Direct Investing. There are many options available out there. Thank you for allowing me to voice my opinion. NOW we have a local TD Direct rep I am hoping it will get better ……oparty.rue the fact he still seems intent on getting people to open branch HISA and chequing accounts as well as TD Direct.
Do other brokerages offer the ability to make phone trades? I simply got the runaround from a dozen different people at TDW until the monies finally showed up back in my account. Very poor performance by TDW Siscount Brokerage. Every time you have to go to the branch to open or change an account you will encounter complete incompetence. The TD bank employee have no idea how to complete requirements for TD Direct Investing. Transfer forms have magically appeared or modified by them.
No explanation or apology. Today after work I went to open a new Trust account for my kids. Then she said she made a mistake and was not able to correct it online so it would take a few days to correct and would involve me returning to the branch. She was very nice, and wanting to help, but clearly she was not equipped with the tools to do her job. Now I am very concerned that the FAX was sent to the right place. I was able to live with their poor website but as of today, I have decided that TD does not innovate, does not keep up with technology, and therefore presents a risk to investors.
Anyone have experience in transferring to another broker? The best for trouble shooting for clients have been Qtrade and Credential. One brokerage scores an F. It improved over the past years though. Active traders should have a look at Virtual Brokers. They have the best commission rate. I chose qtrade for my RRSP because of their large selection of funds and they have true us accounts. I like their research better than TD. TD used to use Ford research, which was replaced by a convoluted ranking rating report, that adds little value.
For some stocks Td provides Argus reports, which are very good. Nothing to write to your mother about. So I prefer to stay cash in US… waiting for the opportunity in the market to make it grow. That was four months ago. The regulatory agencies are not as strict as the US counterpart. So it looks like you have to take your chances. I may move to Scotia iTrade. This time last year, I was able to transfer my shares from Computershare free of charge. Furthermore, no update is done in real time.
Better write down everything before you proceed…. The administration is terrible! Their employees are very incompetent and it takes a long time to get anything done on the paper work end. However trading fees are very low. I have found them to be very helpful and easy to use. It is also nice not to have my investments with a bank that I use. A little diversification here. Have you any thoughts on their cost structure?
I do options trading rbc direct investing the number of time we are asked to call to start to be aggravating they are not so Direct it seems. In the past year their service deteriorated to the level on totally unacceptable. Most problems are with online access and underlying trading system. Here is the list of problems, some of them are options trading rbc direct investing critical:.
The page you are looking for is currently unavailable. Often, you get disconnected for no reason just because their servers cannot handle that many simultaneous connections. I reported a number of problems using their support system — the answers I received were either inappropriate e. Suddenly, all bid and ask values go to zero and even when you click on the option to trade you get zero values in trading screen. As you can imagine, this is totally unacceptable for options trader.
At this point I had enough and will be moving to another discount brokerage. It is too bad as IL used to be the best in Canada. Why is it that sites like Financial Post, Globe and Mail, and Moneysense are giving them good service reviews while there are so many bad reviews of them online? Quotes load up much faster, and everything seems pretty good for what I use it for. For example, I options trading rbc direct investing like to invest a fixed amount into a mutual fund on a monthly basis.
Does any brokerage offer this directly through their webpage? I don't make enough trades per year across all accounts for the reduced commission costs to offset the account fees. Angry enough with Credential that I'm shopping for another brokerage which is why I'm here. I am starting to wonder whether paying a full-service broker or staying with mutual funds might be worth it. These guys are the worst! I wanted to buy a specific MF and I contacted them about it before signing up.
They said it was available. Worst experience … ever! Only the first of several page statements are visible on the iPad although they are on a Windows desktop computer. I am looking for a new discount broker, even though the local TD branch support person is great and most of the telephone support people are also. The web programmers are the problem as I see it. Investors can suffer greatly by being denied access and slow response time to talkbroker.
There should be rules in place so consumers are protected from this when large banks take over small discount operations like this. I find it not intuitive at all. I have been a TDW customer for several years and am now shopping. Home Invest Canada's best discount brokerages. Content pieces exclusive only to paid-subscribers. Bonus articles not found in print. Unlimited access to oparty.ru. Exclusive digital features, such as photo galleries and videos.
Full access to MoneySense on iPad, iPhone, Android and more. Convenience of reading anytime and anywhere. Learn more on subscription benefits - Questions? View FAQ or Contact Us. In what follows, we identify the most important categories to consider when choosing an online brokerage. No matter what brokerage you use, sooner or later something will go wrong. Except for deep discounters like Questrade and Virtual Brokers, commission structures at large brokerages look increasingly similar.
Managing multiple accounts is challenging for DIY investors, so it helps if your brokerage does the heavy lifting. Top picks : Qtrade, TD Direct Investing. Active investors value features like watch lists, stock screeners, market news, analyst reports and tools for fundamental and technical analysis. Tricks of the trade.
I would not go back to banks when it comes to investing…too many at the top make the decisions for the banks on buying and oparty.ru only want to invest your money in their picks. I opened a brokerage account with TD Direct Investing three years ago. I agree about TD except it the opposite in Saskatchewan we had to do things by printing off forms and taking to the branch to validate signatures, who then proceeded to lecture on the folly of indexing and ETFs plus try to cross sell investment accounts.
We have had the same experience with TD. Thanks for letting me voice my opinion and warning potential clients. TD eseries is brilliant for those starting out. You forgot information security. Which discount brokerage Score F in security. Banks have expensive transaction fees. No, no no no no. I have had some trade issues with TD Waterhouse. Questrade fee increases, yet again! I have had and still do have excellent results with oparty.ru,including Brokerage as well as other financial oparty.ru calls also offer good info when requested.
VIRTUAL BROKERS I have dealt with this broker for a number of years. I have not heard anything about Canadian Shareowners. I find all the comments about TD Direct interesting. Horrible reputation based on what? Do you know which brokerage if any allows you to set up a systematic investment plan online? I was thinking of opening an account with a discount online brokerage. But, after reading the comments of the incompetent service, and also checking all the fees charged for example, I notice no one ever mentions the estate fees these groups charge which are never levied by any other banking group I know of……and here Virtual Brokers gets a nod- no fee.
Stay as far away from VB as possible. Discount Reality Sites Premium Account — oparty.ru? Bank investor online accounts are all very poor, especially TD Webbroker! TD Webbroker is implementing a new format which has so many glitches that it crashes my iPad, something no other website has done in a year. TD WebBroker is down too often in fast markets.
Canadian Online Brokerage Review - RBC Direct Investing - oparty.ru
Canadian Online Brokerage Review – RBC Direct Investing. Options trading is also possible via RBC Direct com/ canadian-online-brokerage-review-rbc - direct.
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