What are your preferred brokers?

Hi all, looking for some feedback before making a switch. I’ve never been a fan of Questrade’s customer service, but I’ve been with them for years because I don’t usually have any issues. I had an issue with them a couple of months back which was completely their fault, but cost me $300, they eventually credited me the money back, but took me almost 2 full months of back and forth to get it. I already have an BMO Investorline account and like the platform, although it’s not perfect. I’ve also been considering Qtrade, and National Bank Direct Brokerage, but was hoping to get some feedback from others that use the platforms before I decide to transfer everything over. Also open to other suggestions. I’m not overly worried about fees, although I do like the idea of being able to buy 1 or 2 shares at a time with National.

Marked as spam

Asked on March 7, 2023 9:33 pm

1 views

▲

▼

✔

Private answer

Just adding to what Dan has said, I use RBC but not one I would necessarily recommend. It's a decent platform but fees are some of the highest in the country.

I've heard good things about Wealthsimple and Qtrade - but can't speak from experience. I also know that Interactive Brokers is typically the 'traders' platform of choice.

Mat

Marked as spam

Posted by Mathieu Litalien

Answered on March 9, 2023 7:35 am

▲

▼

✔

Private answer

You are unlikely to get a ton of feedback from other members here via the Q&A just because many do not respond to questions. However, I'll drop my thoughts.

For Mat, he uses RBC Direct Investing, but solely due to convenience. Deposits are instant and he banks with them. I think he is looking to switch.

For me, I use a combination of Wealthsimple Trade and Qtrade. I really like Qtrade's overall platform as I believe for the commissions you pay (especially if you have over $500k) they offer a ton of features. For example, even though I don't use them because we have Ycharts, you have access to Morningstar Premium ($250 a year) with Qtrade, and also Desjardins reports.

I do appreciate Wealthsimple Trade. I disliked them very much a few years ago, but because I wanted to mimic a model portfolio here (the dividend growth one) I started up an account this year and it has improved dramatically.

I haven't tinkered with National. So in that case, I'd have to defer to other members. Are you inside of the Discord? If you are, you are much more likely to get opinions on brokerages inside there.

Marked as spam

Posted by Dan Kent

Answered on March 8, 2023 4:58 pm

« Back to Previous Page