|Author||Topic: Interactive Brokers|
|Am about to send them a CA$15,000 check. Are these guys legit - anybody ever traded through them?
Thanks for the input
|Interactive is huge in the States. I am happy they are trying to make more of a presence in Canada. Their commissions are so cheap relatively speaking. I am hoping one day they can break the government sponsored monoply of the Bank discount brokerages.
How TD Waterhouse Canada can get away with minimum $29.00 Cdn per trade is mind boggling.
A few issues with Interactive. I am not sure if they provide RSP accounts. Also they do not provide research. This probably does not matter because if you are an active pro trader you are most likely using technicals anyway. The good news is they provide equities and futures.
The bottom line is that CDN discount brokerages are a ripoff compared to US discount brokers. It is about time somebody comes in and forces their prices lower. Interactive does not have branches all over the country and expensive marketing. Cheesy marketing like Your way, Your life..... Please.
Also on elitetrader.com they have a thread on client appraisal of Interactive.
Good luck with your trading Layer!
|Thanks for the input. I am not a trader; I am taking long-term positions, so I am considering TD. Although I agree that the $29 is ridiculous. This country really is dominated by banks.
RocketMan, I would appreciate it if you could either say "negative" or "positive"; no need to be specific.
I am really wary of passing money to somebody I don't know.
The good news about the banks is that they have professional CSR. I wasn't overly impressed with the guy at Interactive.