Executed PBI from my TFSA

6 May

This morning, I set out what I pre-determined to do:  Sell Pitney Bowes!  No regrets, no emotions involved in this trade.  

I walked away with a profit of $19.34.  If I had sold PBI when it dropped dramatically, I would have incurred a $150+ loss.  I am happy to walk away from this stock.  Good riddance.

Trade Summary in my Questrade TFSA:

BUY:  107 shares @ 15.17= $1623.19 + 5.45 (commissions)
SELL:  107 shares @ $15.45= $1653.15 – 5.17 (commissions)

Look at the commissions for Questrade, this was supposed to be a $4.95 per trade commission.  But they added SEC fees on top of that to nickle and dime my profits.  

If I had this account in my new Virtual Brokers account, I would have paid only $2.14 for two trades.  I am still waiting for Questrade to transfer my stocks over to Virtual Brokers in my Margin account.  They’ve been hassling me why am I transferring my account over to another brokerage.  I’ve told them my reasons why through emails and a phone call.  How many times do I have to make myself clear on this subject that I WANT TO TRANSFER MY ACCOUNT OUT!

My reasons for transferring my account out:

1) Lower commissions
2) Lower margin rate
3) Real time quotes

Questrade reasons for making me stay:

We value your business greatly and would like the chance earn your business. As a consideration, we are willing to offer you 10 commission free trades.  I understand you are concerned about the interest rates and commissions. I have checked your account and see you are not very active as a trader and do not normally leverage your position. The interest rate would not impact you based on your past history. We do offer a lower commission package if you are more active trader with a data package (our commission page is 95 cents to 6.95 with the advanced data package). For most clients,purchasing a few shares on occasion the commission is not a large impact their returns.

Conclusion:  Well, the reason why I don’t trade or use margin as often is because of the higher rates.  They didn’t even address my real time quotes as they know they can not do this.

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