Options

Thank you, I just signed up for discord and still learning how to use it. I have questtrade and I plan to use it till my portfolio grows to 100K and then switch to IB. One more question, is it 100k in one account or across TFSA, RRSP and margin if I have all of them with IB?

In my opinion, as soon as you mention margin, Interactive Brokers is the place to go, especially if you have a six figure account. You will simply never match their margin rate.

I moved from Questrade to Qtrade, and I find the options process a LOT easier on Questrade. That being said, all I do is sell very basic covered calls. So, it's not an absolute necessity for me.

I think Interactive Brokers also has the cheapest options fees. Overall, their platform is great for traders, but as Mat said can get quite complex.

If you're looking for option opinions, hop on to the Discord and go to the options channel. That's the easiest way to get a hold of others who may have experience with different brokerages, as I only have Questrade and Qtrade, of which I'd give Questrade an 8, and Qtrade a 5. But, margins rates are very high at Questrade.

Yes - lots of members were discussing the NA news on Discord. Are you signed up to Discord? We have members who never check the Q&A anymore, they mainly stick to Discord.

Mat

Thank you. Looking forward to comments from others. Also I recently learnt about zero trading fee with National bank for both stock and ETFs. Currently my portfolio is split between WealthSimple (for 0 trading fee on Canadian stocks) and Questtrade (small caps, US stocks and RESP) and I am thinking of moving everything to one broker.

https://nbdb.ca/pricing.html

Hey Harjot,

We haven't done a comprehensive review on options trading. However, what I can say is that if you are going to trade then Interactive Brokers is by all accounts one of the best. It has a very detailed platform and many experienced traders love the platform. It can however, be a little too much for new investors.

Maybe others have some suggestions, but since we don't trade on margin and use limited options - I haven't compared the brokers directly for this purpose.

Mat