Tag Archives: Virtual Brokers

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!   

 

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Virtual Brokers gets down to the Penny!

15 Nov

Wow!  Virtual Brokers announced their new Penny commission structure as follows:

“The Penny” Commission Structure

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

The Minimum commission is $0.01 with a cap of $9.99. No ECN/Exchange Fees apply.

This makes me want to trade more!!  Just a few weeks ago, I literally bought one share of Priceline @ $997.00.  My commission was 99 cents.  Way cheaper than other brokerages around, right right?

With this new “Penny” commission structure in place, if I bought one share of Priceline today, my commission would be just a PENNY!  Of course, most people don’t just buy one share of stocks all the time.  But there’s that option.  Your trading cost won’t cut into your profits.

I like Virtual Brokers fee structure as they don’t nickle and dime you with ECN/Exchnage fees unlike Questrade.  And there’s a cap of $9.99 commission.  I think this means that if you buy more than 1000 shares, your commission will still be $9.99 per trade.

Anyhoo, I’m off to Costa Rica for ten days!  BTW, my LIQ stock didn’t make a come back to fund my trip.  Still down 18.33%.  Ouchie, looks like I’ll have to dip into my savings for this trip.

 

Virtual Broker – Margin Review on my Portfolio

5 Sep

Margin gives you the ability to buy stocks on borrowed money from the brokerage.  The more money you invest in a stock, your risk becomes greater as well.  It can be for the better or worse, but you really need to access how much you are willing to put down or stomach.  *Always be careful when borrowing money.*  

Presently, I have a margin account with Virtual Brokers.   The current rates at Virtual Brokers is 4.5% for CAD and 4.75% for USD.  Margin rates are usually competitive, since they have collateral to the amount of cash you have in the account with them.

Last month, I sold my Goldcorp stock.  So at the moment, I have $4,470.37 cash sitting in my CAD account.  I still don’t know what to buy on the Canadian side.

I also added a few American stocks to my portfolio on margin, but they haven’t been performing as well as I had hoped for.  At the moment, Currently, I have $8,384.51 margin in my USD account.  I am hoping Coke will make a turnaround soon, so I can lessen my margin load.

Current Value for USD Stocks on Margin:

Coke (KO)

2,075.99 1,912.00 -163.99 -7.90%

Visa (V)

$4,152.49 $4,052.83 -$99.66 -2.40%

Costco (COST)

2,240.99 2,292.40 +51.41 +2.29%

Anyways, I have been lazy and not really keep track of my overall stock portfolio.  Time for me to sit down one night and make a good tracking system for all my purchases and sales of stocks for 2013.

Virtual Brokers Trading Platform Breakdown

21 May

For the last while, I got my Virtual Brokers Margin account up and running.  For 1 cent per share trades, I’m happy with their executions.

Here is my basic trading platform for Virtual Brokers, please click on the screen below to see my comments within:

Virtual Brokers Trading Platform

I am margin free!

19 Apr

Sorry, I haven’t been in the mood lately to blog about stocks.  The stock markets have been giving me a queasy feeling in my tummy.

On Monday, April 15th, every stock I had was in the red!  I decided to sell my Potash that was on margin at a loss.  I also transferred $2200 into my USD margin to wipe out my margin balance there.  So I am margin free!!  I don’ t have to pay stupid little interest at the rate of 6% to Questrade.

This is in preparation for my move from Questrade to Virtual Brokers.  A couple of days ago, I finally mailed my application to Virtual Broker’s head quarters.  (I was over by 6 grams, but I took the risk of just putting on a 63 cent stamp instead of $1.10.)  I know sometimes, I’m a cheapo, but it was in those standardized envelopes.

One of my reason for switching brokerage is that Questrade was charging 6% for CAD and 6.25% USD for any money that is borrowed in their accounts.  Their interest rate is at least 2% higher than other online brokerages.  And I don’t want to pay more than I have to.

At Virtual Brokers, their interest rate is 4.5% for CAD and USD for funds that are on margin.  This beats Questrade.  Their 99 cent commission is the biggest lure for me.

If I like their platform, I will consider moving my RRSP and TFSA over.  But I want to test it first before I make the entire switch over.

Side Note:  I went over to my local Community Savings credit union to help a coworker sort and count his nickles, dimes, and quarters at thi’s coin machine.  The branch had no customers.  The customer representative saw me and showed me how to use the coin machine.  After it finished counting all those coins, I had $20.70!  She was friendly and tried to get me to sign up for their chequing account.  It’s unlimited transactions with a monthly fee of $2.00 which will end by April 2013.

I’d be interested in opening an account with them since they do have branches locally.  But I enjoy my free banking at ING Direct where I can use their ABMs.

I got a free key chain out of it with a couple of  “coins” I can dispense from to use in shopping carts.  Neat eh?

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!