Price and time axes can be customized. These include option chains, hot lists, balance information, orders, and positions. TradeStation and TD Ameritrade do. Chat rooms are available for customers to communicate with each other, which gives a community feel to the application. It comes with a variety of technical studies and drawing tools. Investing or trading in the stock market is a skill like any other. Clicking on the second option produces a login screen that requires a user name and password. You will need to have a TradeStation account to access this paper trading platform. Read detailed TradeStation investing review. You could test and perfect your trading skills without losing a dime.
Charting tools in thinkorswim are quite advanced. Like the other two platforms, you simply choose simulated or live when logging in. All TradeStation clients have access to paper trading. Users can manipulate various features, such as the aggregation period. There are two virtual trading platforms at TradeStation. It does take some time to learn the platform. Read detailed TD Ameritrade investing review. There are pattern and drawing tools such as ascending triangles and regression lines. To reach it, you simply need to go to TradeStation.
The broker does not charge anything for this very convenient service. Limited customization is also available, providing OHLC bars, candlesticks, mountain, and line as graph formats. Online stock brokers offering best accounts for paper trading in 2017. With no Exit Order. The simulated environment actually displays an account number. TradeStation and TD Ameritrade. One nice technical feature that TD Ameritrade has implemented in thinkorswim is for the desktop application and mobile app to synch to the most recent symbol viewed.
These include good charting tools, including technical studies and a drawing program. Best free virtual money, simulator, practice trading brokerage firms. Like its browser cousin, the desktop platform has two choices at login: live trading and a practice environment. There are several complex orders that can be practiced. VB from Scotiaitrade and thought I had found the promised land. What I found was two guys sitting there with only one flyer to give away.
VB customer service hoping someone from VB would respond on the thread. He would have had my account reset had I needed it. Not trying to run down your choice of broker. Scotiaitrade, VB and Questrade. No slide presentations, just nothing. You are smart to avoid market orders. VB covered mine when I moved from Scotiaitrade and gave me 2 months free trading.
EFTs normally take a week or more to clear. As an example of their service, they recently upgraded their trading site and I received a phone call from my account rep informing about the change before it happened. LIRA and an TFSA with VB and there are absolutely no admin fees for either. William: Following my post above i transferred my accounts to VB. Saturday and had the account reset within 15 minutes. VB, with very little customer service, horrible wait times. That is, real time quotes are not included in the account without paying a monthly fee which is similar to Interactive Brokers. One big unexpected fee can eat up many small discounts on other fees.
Compared to this, fees per transaction differences are peanuts. So that was very irritating. So far, uncertainty about exactly how their trading fees work and how good their trading platform is has prevented me from switching. On the first point. TFSA brokerage in Canada. VB for a few years now and am about to switch back to TDW. Not responsive to issues.
Thanks everyone for for your insights. The BBB has an F rating for Virtual Brokers! Anyways, it is important that you understand how your trading behavior will impact your trading costs. The ability to submit trades outside of trading hours is huge to me. So basically, my accounts work, my trading works, and i am extremely happy with their great pricing since I am making money more than ever instead of big banks ripping it off my trades. So apologies to those I might have insulted. The Globe and Mail endorsed them. In the last 3 years my experiences with VB customer service have been less than satisfactory. Since November for me, not so. Questrade or one of the other brokerages may be a better choice.
Statement errors are frequent. It was introduced effective July, but not charged until September, meaning I got charged for 3 months before I found out about it, and was able to switch to electronic statements. IB is cheaper in fact that is what I want to find out. Once they offer this option I will consider. THINK IB IS ThE BEST BROKER OUT THERE! Am considering starting out in penny stocks to learn the basics? VB is one of them. Their customer service seems to be really good too.
Overall an icky experience and learned a valuable lesson in terms of getting what you paid for. Had to call and teach them what needs to be done. NFI run and HOV run in those occasions. EVERY DAY wondering what was going on and heard nothing but crickets. You are right about IB. The trading platforms are not difficult to use. Some of the issues have been addressed, and I am trading in Meridian again, but Webtrader still has no real time position information. Overall it looks to me that VB, at least for my purposes comes out slightly ahead on costs.
Care to share any advice? Was not my intention. Furthermore, anyone using market orders is paying too much for their stocks. So maybe you should take your own advice and not be so quick to judge and dismiss others without understanding their situations. You have to wait till evening to get true value of holdings. Questrade to IB one day when I purchase some more stocks. Wanted to transfer in my TFSA, followed all the required instructions and they end up complicating the process which delayed the transfer for about 3 weeks.
When you increase market liquidity you trigger ECN fees which are 4 cents per share. They are the only one who offer you different commission structures and ability to select and switch between them. From first impressions, it seems that this broker is geared towards traders. Has anyone else found this problem and how have you dealt with it? Each day I was changing my order. OptionsXpress clients, but things are back to normal now and I am getting the same level of service as I used to get. Best of luck in your investing efforts.
Fees are where I always get nailed. Liquidity is the amount of shares for sale above and below the market price. The only issue was that I needed 5 different passwords to access everything. If I did not supply liquidity I would lose money on every single trade. Now that they have switched platforms to IQ I find the connection very unreliable and they have been less than helpful in resolving my issues. Market orders remove liquidity. BUT they do not credit transfer fees. They will repeatedly violate your Privacy and consents.
Bottom line: VB is incredible. Stay away from Virtual Brokers if you can and deal with a professional firm. You would not be increasing market liquidity by bidding below the current bid price. Beaver, have you used VB lately? Virtual Brokers 7 months ago. Does anyone use that or have experience with that? VB almost 2 years ago and had been with ScotiaiTrade previously.
Peter, your experience was very similar to mine with VB. Disclaimer: I am not employed by QT, have no relatives employed by QT, and hold no financial interest in QT. Customer service is horrible, complete incompetence served with a bunch of attitude. Virtual Brokers so far in trying to open an account. IB only has non registered accounts. QT and IB and they are not better than VB so I went back to TDW. This is the same advanced trading platform that Scotia iTrade uses and is quite popular with traders. Why would I use wire transfer when I can move the money electronically? Everything was ok till six months ago and then whole thing started falling apart as I could not get on Meridian, their real time quotes were not accurate and I had manufactured debits on my transaction page. They probably will become great again, but I am in the process of moving to Questrade.
VB twice last Thursday about trade confirmations, then about funds transfers, and got an answer after 24 hours as expected. To do that you have to understand the entire fee structure. Way too damn long IMO, especially within the same bank. Do you want to invest with a brand that puts you on endless hold? Virtual Brokers to be very competitive providing that the trade manages to avoid the ECN fee. Live long and prosper!
Can you provide specific examples where IB has a lower fee than VB? That experience was one of the factors that made decide to stick to RBC. Given how horrible my experience was with this firm, I find it hard to believe that alot of these posters are genuine. VB for about 3 years now and my experience with them is close to fantastic. It would be nice to receive only one comment about your experience at the end. On TSX, you bought 600 XYZ shares at an average price of 20. Data fees seem lower. If these people want to attract business they have to work on customer service. At times I find them unresponsive, it takes a great effort to get things done. Im not thrilled about their charting either.
To me, this is not acceptable. These 3 trades constitute one ticket. Eventually it showed up, but they put the cash in the wrong account. VB at this point. My order still sits there. VB a few months ago and the service has been absolutely incredible. You are correct about currency exchange being much cheaper at IB too.
The fees are competitive. The accounts are best for traders though. ETFs are free to buy. They just flat out refuse to respond to issues of their negligence. But I can accept that others have had radically different experiences from mine. So I have to wait 60 days to get my money back because they screwed up? Forced Currency Conversion is nothing more than an unethical and unfair practice. Every email answered promptly, courteous and knowledgeable phone reps, great platform with instant executions, fast funds transfers and so on and so forth. What can I say Mr. These online stock brokers manage to can keep costs low as they operate in a virtual environment with very little brick and mortar overhead to worry about. So say, if Company X is at 12. This platform is for qualified traders only, I can only assume that they are for high net worth clients.
Always loved indie brokers, always will. So does this mean i increase market liquidity? Let the trading begin! RRSP or TFSA from Questrade just yet. Went to RBC to apply for a trade authorization and completed all paperwork. You would be increasing market liquidity by bidding above the current bid price. You seem very knowledgeable.
Debit interest rates are the same for amount under 100k. But there are no admin fees associated with it either. Questrade because its quick, a big company, and I feel safe and secure there. My personal information got lost somehow. It takes weeks for a response to an inquiry. Their telephone wait time is too long so i emailed them instead. It only allows last 31 days or you select month by month. The only thing that would keep me to go to Virtual is the fact that they do not have a US component on RESP accounts. When they recently upgraded their trading site, I had an issue with a trade and received a phone call within minutes of reporting the issue.
Great at first by about 6 months ago the wheels fell off and they never really got them back on. My problem is that if I log into my account, i believe it means, as per the cardholder agreement that I will have activated the card and agreed with the agreement. Questrade was awesome from day one and continues to be awesome. It appears that they offer multiple trading platforms, from the free web based version to the more advanced trading software. VB has slipped recently in my view as well. The website is rich in analytical and market tracking tools. Limit orders add liquidity. Enough is enough though because I lost so many opportunities and i got too many times frustrated about it. Canadian broker with a per share pricing model but after reading this thread, it sounds like I would be wise to avoid VB. We were staying past midnight to answer emails. QT a few months ago and am very impressed.
It reminds me when i used to work in Toronto. One problem with this method however is for those looking to use the AxisPro trading platform which would be a drag without streaming quotes. Registered accounts so I have to open each one to see value and holdings. Questrade customer for over 2 years. MBA degrees and have held progressively responsible management positions for almost 30 years. To me, it seems to offer both domestic and international investment opportunities, but at what cost? Just want to mention there is a mistake in above mentioned review about their commission. Too many times I had to call VB to fix up the trading platform because of glitches in it, too many times I got charged with double currency conversion.
VB, but the initial great customer service deteriorated quickly and I had issues with stock price data being incorrect. Questrade in terms of cost. They are indifferent to any problems and compliance. If you trade often their fees will eat your profits. As for the review, thanks for the synopsis. However, they did not do anything nor said that they will look into error.
You and I have had very different experiences with VB. Mike, I would echo Mr. In my 45 years of banking I have never seen an incompetent customer service on the scale Virtual Brokers provides! They call me back after a few days and said the applicant needs to go by RBC branch so they could complete a identification form. And yes I love or adore their simplistic but customizable platform. So I suggest everyone to email instead of wasting time on the phone. As a Canadian living in Mexico, online brokers seem to be the best way for me to get in the game. Hi Brett, those who are enrolled to updates from this post receive all your comments one after another.
In the end I called again, finally got through, and eventually got it sorted out. Then a portion in foreign investments were allowed, but cash had to be held in CAD. Took another week or 10 days to have them transfer the money OUT of that account and into the right account. BMO Investorline account for now and say goodbye soon after that. While Virtual Brokers offers the standard, they also provide some extras. They were overwhelmed by questions and concerns and I found the response time was unacceptable through most of Nov and Dec. They replied and told me they would reimburse in 60 days.
So i cannot check how much trading fees i paid over a year. VB to anyone wanting all of the above positive feedbacks. Originally I wanted to start my TFSA with them, I mailed out my application even though I already had my rrsp with them. Meridian platform, but not in the Webtrader platform. It took FOREVER for them to get it sorted out. Questrade account in preparation to move to VB but I am considering returning. That happened 3 times so far and all I got is not even an apology. Kabbiz and Farrukh will NOT respond to violations of the many acts they are obligated to comply with. VB getting the rep as cheap but terrible customer service.
In fact I have no experience with Questrade except calling to ask a few questions when I was looking to leave Scotiaitrade. They offer great trading platforms, extremely low commission and crystal clear fees and very good tools. Virtual Brokers had some good early reviews and recently came No. File a complaint with IIROC to have them become accountable. Mail ranking each year. However Questrade is still the cheapest. Currently my problem is that their system has forgotten my password for trading.
The Globe and Mail did no favours in recommending VB. In that case I may lower the ask to ensure I sell the stock. RRSP, RESP, TFSA accounts etc. Had to get them to credit me back and manually set me on the proper commission rate. Some people actually make money just by adding liquidity to the market. This is much better than any other broker I know of. My portfolio values are NOT CURRENT. There are times when an actual back and forth conversation is required to readh an understanding. OptionsXpress to Virtual Brokers and I have to tell you that VB is without a doubt a complete disaster. Questrade a couple of years back largely because of the comments on MDJ. After talking to several of their reps on the phone they told me to send an email to support.
But I understand that for approximately 8 years these rules have not existed. Otherwise I would move to them. You are correct on the definition of ticket. Virtual Brokers, then you may be able to use their low cost platforms, but get your quotes from another brokerage account. Questrade about a year ago and the experience has been great. When I first opened my accounts, their customer service was stellar.
After a year as a customer of Virtual Brokers my experience has been dreadful. TD Waterhouse and decided to switch it over to VB in May 2012. Questrade for over a year and WAS happy. VB bass on what I have read. VB has improved the last few weeks. So I had to go into Meridian for the info, then switch to Webtrader to trade. VB from one of my bank accounts and they rejected it without explanation except for a demand to prove it was me who sent it. Questrade and have had absolutely nothing but positive experiences.
My experience with RBC, not going to explain every single detail but just to give you an idea what happened. What are your thoughts on this brokerage? EFT to put money into or take money out of my accounts at no charge. Otherwise, i have to sit at my computer all the time to place market order at my desired price. In my opinion, limit order is always the smart way to trade. Finally decided to transfer my account out to Credential Direct. Generally their trading platforms WERE great. Questrade, and I am not sure why.
Some brokers will pay you for adding liquidity. Webtrader and there is no option for STOP loss of money or TRAILING STOP loss of money. Here is another positive review for the skeptics on VB. For a while I was debating to move either to Virtual Brokers or RBC Direct Invest from Scotia Itrade. VirtualBrokers has a ICPMs feature where I beleive you can manage many differnet individuals accounts. You are correct about the cost. TFSAs, I started looking at Virtual Brokers. VB until the last few months. As I remember, no fee for security transfers to another broker.
It sounds like a disaster in progress, whatever the cause. Meridian platform and was informe to use the webtrader platform. Last October I went to the Money Show in Toronto. VB had in order to make an informed decision. Questrade too for my TfSA. When I asked a question, none of the two had an answer.
Also, i cannot find a report showing me last 1 yrs transactions. VB needs management who know how to build capacity to match demand. If I place multple orders for the same stock on the same day, I pay for each order. One thing about VB and many other brokers is they often cover all or part of transfer fees. We maintain a bank account with HSBC in Canada; have you ever had a look at their HSBC InvestDirect? Scotia Itrade as well and for whatever reason my account with them seems to have lots of problems.
Etrade at a time they were having the same popularity issue. They also paid the transfer fee when I moved from itrade and gave me two months free trading. Questrade and Interactive Brokers. Questrade account for my RRSP. Why in the world do you have to pay for live quotes? QT vs VB written by someone with both accounts would be ideal. Absolutely brutal so far in regards to trying to open an account with them.
Dec and things went downhill. The author of this website also did a negative review on questrade. In this case, the low trading fees come at a cost. ETF buy while under their free ETF commission structure. VB gets back to their previous performance. Canadian equities and cash in my registered account and convert only when I need, or choose to convert. So there are data fees depending on your needs and ECN fees that can be not difficult avoided. He follows up and has given me the absolute best customer service experience of my life. WHen logging in during the day.
One of the guys in the office suggested Virtual Brokers. They are likely victims of High Frequency trading. Rim, but liquidating a position because I have no confidence in the accuracy of the stock price was the final straw for me. How much would the following example cost at Questrade? Anyone else have any feedback on their service? As a new kid on the block, I take it there are not a lot of people trading with them except 513263337 and maybe exstasie can keep us posted of his progress. In the process of getting my application approved. Anyone wishing to share their experiences with Virtual Brokers? And they do solve problems.
Customer service is great. One white guy working on banking stuff, one Asian guy named Peter working on trading stuff and general support, and another Chinese girl recently hired working on general support. Maybe it will be sorted out in a few more weeks. Within a couple hours of sending them the email, they responded saying that I signed and dated everything accordingly and that my final step is to mail in my documents to them. Everything is layed out very nicely. Those 3 transactions will have separate commissions.
If you want value, go with Questrade. After I filled out the paper by hand, it states that you can scan them a copy so that they are able to look at the documents to ensure there are not any issues. As far as I know they have 3 guys working as support. Very pleased so far. However; all trades done for the same symbol, side and exchange on the same day are considered as one ticket. Questrade, it is still somewhat of a mess. Will be mailing it out tomorrow.
So far the sight looks really sleek. Since I already had a Select Service account at TD, I opened a TD Waterhouse account. Interactive Brokers offers clients Stock Trading, Options Trading, Mutual Funds and Futures Trading while ChoiceTrade offers Stock Trading, Options Trading and Mutual Funds. Is ChoiceTrade or Interactive Brokers a better online broker? Neither ChoiceTrade nor Interactive Brokers offers Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans. Mobile Trading in 2017, while ChoiceTrade came up with none of these. This review compares ChoiceTrade vs Interactive Brokers.
Both ChoiceTrade and Interactive Brokers offer virtual trading. For mobile trading, Interactive Brokers offers the iPhone App, iPad App and Android App while ChoiceTrade offers the none of these.
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