There are a number of places to go these days thanks to the rise of online trading and brokerages. I’m going to tell you about some great brokerages but I want you to first understand what you should look for before you open up an online brokerage account.
How important investment choice is to you will depend on what you intend to do with the account. But if you plan to maintain the account for a very specific purpose, you may be more interested in a specialized account.
Since most brokerage accounts are handled online today, convenience is mostly about ease-of-use on the site.
Betterment is running a promotion for a $25 bonus if you open up an account with at least $250.
E*Trade has a promotion going where you can get free trading for the first 60 of opening your account (you must the account with at least $2,000).
Individuals that place infrequent trades or have smaller account sizes are best off with Questrade in terms of commissions.


If you open an account with Questrade ® as a referral and deposit the minimum $1000, you will get up to $50 in free trades, just click on this link and open the account.
There are a number of brokerages that offer discounts for frequent traders, with most of the big bank brokerages offering $6.95 or $7 trades if you provide them with 150 or more trades per quarter. For investors with large account sizes, many brokers are willing to offer special commission rates and fee waivers, even if you trade infrequently. For those that invest primarily in mutual funds, there are several brokers that offer no fee accounts so this is likely the direct that you want to go in. Keep in mind that most brokerages will charge you a fee if you redeem a mutual fund within 90 days of purchase (some exclude money market funds from these rules, but check your agreement). Open an account with Questrade ® and get FREE $50 in trades, use this link or Affiliate code: tradecanada. Transferring money between brokerage accounts can also be a hassle with some of the firms, and it may be more convenient to use the brokerage arm of your regular financial institution if you are frequently transferring funds in and out of your accounts. You have to open an account with a stock brokerage firm before availing the trading related services.


You can also open the account at a later time, just make sure that in the Affiliate ID you use tradecanada and it will recognize you as a referral and credit you the $50. These brokerages include TD Waterhouse, RBC Direct Investing, Scotia iTrade, and CIBC Investor Edge.
While all of the brokers here are registered with the Canadian Investor Protection Fund, so your balances are safe despite the financial stability of any of the brokerages (not that any of these brokers are in financial difficulty to the best of our knowledge).
There are typically no costs to trade mutual fund shares or even ETFs as long as they are in family with the brokerage firm’s funds.



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