Archive | 2.33

99c Commissions?

5 Apr

Virtual Brokers is a Canadian owned and operated online based brokerage that offers a wide variety of trading services.  You can trade as low as 99c if you’re buying under 99 shares of a stock!

“The 99” Commission Structure:  The Minimum commission is $0.99 with a cap of $9.99. No ECN/Exchange Fees apply.

Equities
$ 0.01 per share if share price ≥ $1.00
$ 0.005 per share if $0.25 ≤ share price < $1.00
$ 0.0025 per share if share price< $0.25

At Questrade, I am getting tired of paying $4.95-$9.95 + the occasional ECN/Exchange fee per trade.  My trades are usually 100 shares per trade.  Virtual Brokers = $1 vs Questrade = $4.95+ECN Fee.  Virtual Brokers win!  

I know I know, it’s hard to make the switch after setting up all your stocks in your cozy accounts.  Virtual Brokers will pay the transfer out fee from your broker (up to $150 taxes included) for each account with assets >$25,000.  Plus, they offer live streaming quotes in which I am missing from Questrade.  I’m sold, I will transfer out my margin play account to test this new platform.  

I am on my way to setting up an account with them!  99c commissions here I come!