Discount option brokerage comparison 2014 canada
I asked reader Dan if he would be willing to share his thoughts on Credential Direct, a brokerage with which he is familiar and I am discount option brokerage comparison 2014 canada. Dan wrote back with the following review Thanks Dan! You can also check out the reviews of other discount brokers: You do not need to be a member of a credit union to open discount option brokerage comparison 2014 canada account.
There is no inactivity fee. Here is a link to an excellent comparison chart with other major online brokers.
Mutual Funds Credential Direct seems to have access to all of the different mutual funds that you will find elsewhere. CD does not charge any fees to purchase or redeem funds, but the mutual fund could still charge you.
Fixed Income Credential Direct also seems to offer a wide selection of federal, provincial, municipal, corporate, coupon and money market issues. I am not very well versed in bond sales, yields, etc, thus I can not give much insight into this.
Research Credential Direct, has a Tools tab which has a portfolio section, technical events section, a technical screener, financial screener, options screener, options valuation section and a discount option brokerage comparison 2014 canada fund screener. You get free real time quotes and free level 2 quotes. For me this was a big plus. You can also transfer money to and from any bank account in Canada there are a few rules regarding the transferring money out of registered accounts, nothing majoragain a big plus as there is no need to change banks to transfer money.
You also get online statements, an account history, performance, holdings and account summary. A research section with daily research papers from Desjardins Securities, Stockhouse Bullboards, Stockscores weekly newsletter and Stockscores signal and sentiment scores plus fairly good charts.
They do not have a real time chart during market hours; it works on a minute delay like most places. Other Comments You can have a cash account, discount option brokerage comparison 2014 canada margin account, a margin account with short sales, or an options trading margin account.
You can fill in the application forms online; print them off to sign, then mail. I have phoned the customer service a few times and the people were first rate, courteous and professional. The website itself is good, and easy to read. I have had no problems with it. I have found the odd time that the server seemed a bit slow, but not painfully slow. I would anyone considering a discount broker to have a good look at Credential Direct; you will be surprised at everything that is there.
Everytime I called, their reps were very friendly and professional. One rep even followed up on an issue via email several days after my intial call. Direct for a couple years now. This is not a review. A review would talk about your opinion of or your experiences with Credential Direct, not just list what discount option brokerage comparison 2014 canada offer. The fills on Credential Direct are slow. I do not recommend Credential for active traders. I highly recommend BMO, the fills are instant as soon as you hit submit.
Credential is only good for placing longer term trades. Limited Wash Trades discount option brokerage comparison 2014 canada Credential Direct. I decided to go with Credential Direct as my online brokerage as well, based on what people were saying about it versus others.
Anyway, Credential Direct makes a big show of being very secure, and they also offer email as one of their ways to communicate back and forth. But a big security hole is the email. This, after they sent both my account password and my trading password in plaintext via email. Fortunately I was able to change the passwords almost immediately, because I was at my PC when it received those emails, but this is a rather major security lapse, not something unique to me, and must be fixed.
Is there a real review of Credential Direct on this site? This is just a list of features that can already be found on the Credential Direct site. Can someone with some recent experience with Credential post here? Would you recommend them? I am a client of Credential as of last April.
I cannot do a comparison of services as I have not used another service. My initial application was to RBC Direct but when they mailed back all of my personal information thru regular mail in an open envelope unglued I became unglued and changed my credit cards, client card discount option brokerage comparison 2014 canada. Try to get your client card number changed at RBC.
Instead of being understanding of discount option brokerage comparison 2014 canada of the potential theft of identity i had a long drawn out war to protect myself.
However my glossy brochure and fee structure from RBC did arrive the next week in a tightly wrapped express post package. How kind of them! Again this weekend although the last update was after market close Friday, my Holdings page is far off the closing prices on about half of my equity holdings.
This is becoming more frequent in the last month. Still waiting to try it out. Despite mailing in the required check for account authorization they do not start the trading authorization process until they set up the account. So you get your account but cannot trade for 5 days, as an option to speeding this up they suggest you have your financial institution fax in authorization. I did this and three days later I still to not discount option brokerage comparison 2014 canada access even though I called them each day to ensure they received the bank access and to check it was in motion.
I sounded like it had not even been passed onto the right person for authorization. Quite frustrating to waste my time going to the bank to request the authorization fax and not have this speed the process up. Hopefully once access is available it is as good as it looks.
If I had bought stock earlier in the week I would have lost money. I was an extremely longterm user of the RBC trading system which was reasonably satisfactory however for someone who doesnt trade much CD is much discount option brokerage comparison 2014 canada.
I have be trading with Credential Direct sinceit use to be good for Level 2 snap shots which included Time and Sales data which is critical for thinly trade Venture Exchange and Capital Pool companies. Advice setup watchlists and portfolio with stockhouse directly it is free with 15min delay and you have to pay extra for level 2 data, for 13 bucks a month you can make your watchlists live. After you do that find the cheapest broker for you per trade, I am a infrequent trader but like the data to pick exit and entry point for venture mining stock.
Anyone that needs help with their Free Stockhouse setup email josh. PS Googe stock group to see what credential direct gave up. Now Credential Direct is the same with unjustifiable higher fees, and it is not just the stuff I listed below as with stock group one could make up how the wanted to view the data in a watch list and the info a person wanted.
It started with all the Portfolios that normal people use as watchlists to speculated on stocks or mutual funds they want to buy what ever that maybe. All stocks that did not have at least 1 share was wiped out — Yes this was fixed after complaining. There is no outstanding shares or market cap for Venture stock — supports answer was to create a watch-list with Stockhouse — Very Lame solution.
When entering multiple positions for the same stock example CEM on the Venture exchange. One can not review the entries to make sure they are correct. When entering the amounts as to share price as example with CEM on Venture it doe not allow for half pennies — I would imagine that Mutual Funds with fractions of a cent are having the same problem.
If I had to improve upon that I would all so want to see a Cancel Orders data for market sensitivity also know as Total View, this is important if Credential want the frequent trader market. The web site has slowed down despite having a new 2 core desk top with 2 gig of Ram and having nothing on the hard drive except Linux Ubuntu Now this weekend I cannot enter Watchlist data even if I wanted to.
Does not the most rudimentary concept of beta testing mean anything? WHICH means tested by people that use it the information source for a discount option brokerage comparison 2014 canada of time for a smoothness transition. The only bug in the system is the VP of Credential Direct or You for not buying Stockhouse Publishing if need be to obtain there A-1 software and it teck staffthat is better than anything else out there and well worth the money.
Credential Direct that was once the best on-line Discount Broker that did not charge extra data fees in exchange for higher trading costs. Credential is Quickly becoming the worst as what is the point if the data and accurate watch list keeping data is not available. This is just to name a few problems for which I am not going to make a career of pointing out to you!!!!! As the song from the original Movie Heavy Metal sound track says — How long must this go discount option brokerage comparison 2014 canada …….
As a new user at Credential Direct I have been quite happy. Trades have gone quickly and without a hitch. The research and analyticals are adequate. The initial sign up was a bit slow and complicated — took over a week — but now that it is set up the transfer for funds works well.
Now if only I could make some money. Beware of Credential Direct if you day-trade; their order process is very, very slow… Execution is fine, but it will take literally minutes before a buy is processes and is available to sell — 5 minutes!! A lot can go wrong in 5 minutes. I eventually gave up after many complaints. Go to Interactive Brokers. I agree with Brock. Equity order and option order fills are extremely slow.
I discount option brokerage comparison 2014 canada seeking some advice. First time trader ,I was going to go with Questrade as my platform discount option brokerage comparison 2014 canada start with but from what I have read I think its best I look elsewhere.
Any suggestions for a beginner? I am leaving Credential Direct. And now RBC has 9.