Questrade do have many things going for them. They are certainly one of the cheapest Canadian stock brokers to trade with. This commission structure makes it suitable for both large and small traders.
They offer support via the phone and online chat. I have spoken to them a few times, and have always spoken to a competent person at the other end. OptionsXpress are an international broker that have offices all over the world. I always think their name is a little misleading.
They started off as an options broker about 10 years ago, but now they offer trading services in most instruments including stocks. Otherwise they charge 1. So this is quite a bit more than Questrade. One of the things I love about OptionsXpress is their platform and virtual trading. Like OptionsXpress, Interactive Brokers offer trading in many different instruments, all from one account. Interactive brokers are aiming to get the more experienced clients.
Click here to visit Interactive Brokers. There are so many stock brokers to choose from in Canada, so you can afford to be choosy. Many brokers are extremely expensive and do not provide a good deal for their customers.
As you may know, brokers fall into two broad categories discount brokers and full service brokers. Full service brokers often offer a wide range of services including retirement planning, trading advice, risk management advice and much more.
If the advice they give you costs you money, they still get paid very well. One final thing I feel I must say, make sure you practice your trading on a virtual account with pretend money. If you have a solid strategy, make sure you at least spend some time getting to know the platform first. If you are not sure of your strategy, practice it first, OptionsXpress have an excellent virtual platform.