A Solid Online Discount Broker Is Questrade

Posted by Timothy Sykes on Wed 25th of Feb, 2009 08:25:30 AM

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No matter how many times I say that I use and recommend Thinkorswim, people ask me for brokerage advice…

So, even though I’ve never used them–I’ve only heard good things about them–Questrade is a discount online broker that’s especially good for you Canadians out there (again, so I hear).

Basically a penny per share to trade, with a $5//trade minimum. And they allow you to trade physical gold, which I guess some of you may be into.

See the offer below and get $50 in free trades and if you switch your account by March 2nd, they’ll pay you $150…crazy….but that’s only if you have over $25,000 Canadian dollars–you poor people with $2k or $3k accounts can’t make an easy $150, nobody but Thinkorswim and me cares about your business!

QUEST TRADE

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Steve Place

Unless you've worked out a different deal with them, the CPA only converts with Canadian leads only. If I'm mistaken, let me know.

Josef H

I thought Thinkor Swim was boughtout by TD Ameritrade? If so, I doubt TDA would allow TS clients to continue using TS technology ... being TDA has been very anal about their own trading technology.

... and I to have heard some good things about Questtrade!

younggunz

Thats a 25k minimum or just for the free money? Yes ToS was bought out and they say it will be 6 months or so before anything's decided with the way ToS currently runs or how they're going to merge the customers.

younggunz

Looks like it is $1000 minimum to trade stocks and options...don't say anything about shorting. So if this is a canadian broker are be able to not have the PDT rule or because we're US citizens we still have to follow it?

faran

i'm canadian and i love thinkorswim
it won't let you hold canadian $ so make sure the exchange rate is favorable when you deposit as you will get the current rate
quest trade can't compete with thinkorswim's free software and promotions and ease of use
and i hate quest trade's account management system, it's very bureaucratic (i'm still waiting for a withdrawal request i put in a week ago to go through)

stick with thinkorswim..

nevercomeshere

IRIDQ

younggunz

Its not that people don't like ToS its that TD Ameritrade bought them out and ToS may not exist by the end of the year it TD decides to assimilate the customers into their own software...The whole reason they bought ToS was for their strong options trading platform and customer base. So I don't know if they're going to hack that part out of ToS and add it to the TDA software or possibly keep them separate. Biggest issue for pennystocks is that TDA's clearing house sucks for borrows, even more then ToS's current one Penson.

bill

i think we can all speculate as to why TD bought ToS
ToS has a few in-efficiencies, such as paying for ppl's internet if they make 40 or more trades / month and the referral bonus, which TD will quickly cut off
TD also has a flat trade fee of $9.99 which they will also incorporate into ToS to make them boatloads more money
eventually ToS will become TDA and we'll have to go find a new best friend

Josef H

Thanks YoungGunz and Bill ... I knew I read that TDA bought ToS a few months back. In fact, I'm currently in the market looking for a stocks/options broker. ToS was at the top of my list ... until I remebered the buyout article I read a few months back. I use to be a TDA client back when it was just Ameritrade. Since that merger, that company has become rubish. I'm currently looking at ThinkorSwim or Zecco. I think I will side with Zecco (after a little more research, or course).

Though, I am curious about the TDA/ToS merger. ToS offers trading such as Forex and I wonder what TDA will do with that. I people will signup with TDA to trade Forex, no matter how expereiced the trader is. The only way figure TDA buying ToS is for their technology. I don't believe ToS clients will stay once the merger is complete given TDA horrible trading platform and given TDA will more than likely increase ToS client's trade commission to its own $9 a trade.

Ryan

I'm out of ToS if TDAmeritrade merges the SW platform of TOS with TD. I left TD for ToS because of execution and the high commission costs. I refuse to trade directly with TD. Keep them separate or I'm gone...

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See Tim's full bio HERE. Tim turned a few thousand dollars into a few million by taking small gains time after time on hundreds of volatile penny stocks, discovering that his trading strategy, while consistently successful, works best for those with smaller accounts.

Determined to teach others this PennyStocking trading strategy (learn more HERE), he went back to his original $12,415 roots (already $58,000+ even though the stock market has crashed) to show everyone how to turn thousands into millions, even while having a life (somewhat) and making plenty of mistakes. Currently he is the #1 ranked trader out of 25,000+ on Covestor)

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Hard work, Determination and Know How.

Hard work to learn how the greatly misunderstood niche of penny stocks provides opportunities every now and then on which you should pounce.

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Long story short, wait for stocks that are extremely volatile - for whatever reason - and then aim to take small profits (between 10 and 50% within a few hours, days or weeks) here and there, either from betting on higher or lower prices (yes, you can make $ betting on lower prices, it's called Shortstocking (learn more HERE).

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View All

Date	Stock	Buy	Sell	Net
Nov 6	QXM	$4.31	$4.80	$1936
Nov 4	COT	$8.66	$8.88	$642
Nov 4	QXM	$4.61	$4.89	$822
Oct 30	DDRX	$25.70	$26.53	$812
Oct 29	CTDC	$4.00	$4.42	$781
Oct 26	AWSL	$3.24	$4.10	$2516
Oct 23	RODM	$5.27	$5.23	$301
Oct 22	AMLM	$2.69	$2.97	$820
Oct 22	USEG	$6.12	$6.09	$85
Oct 20	CBOU	$8.93	$9.06	$243
Oct 16	VRMLQ	$16.79	$18.65	$2773
Oct 13	YONG	$11.05	$11.66	$1202
Oct 13	NPHC	$0.59	$0.71	$583
Oct 12	IMGG	$0.60	$0.70	$682
Oct 9	ZAGG	$5.50	$6.10	$2380
Oct 7	GVBP	$0.03	$0.27	$702
Oct 1	NPHC	$0.70	$0.85	$1482

Total: $92,304 (644%)