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!
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