Archive | 2.33

Virtual Brokers in Review

24 Dec

May 2013, I switched over my margin account from Questrade to Virtual Brokers for cheaper commissions, lower margin rates and depth II quotes.  I am very happy with this move!  If I was stuck at Questrade, I wouldn’t have traded or gained this much!  Too bad, Virtual Brokers charges a fee for USD stocks held in TFSA and RRSP accounts… or else, I would have moved everything over from Questrade.

Summary Breakdown

* Market Value as of Dec 24, 2013:  $68,349.93
* Current margin amount:  ($9,902.22 )
* Net Equity:  $58,447.71
* Paper profit:  $16,347.71
* Currently holding 12 stocks
* Collected in distributions and dividends:  $780.49 
* Margin interest charges: ($181.24)
* Commission charges for 32 trades:  ($40.86)  

Note:  If I traded 32 times in Questrade at their minimum cost of $4.95, the total commission charges would have been $158.40!