I've been trading with TD Direct Investing for over a year but recently I've been getting garbage executions. The platform is solid and the orders enter fast but sometimes it takes several minutes for the order to open. I called in and asked whats up and they told me each order has to be reviewed by the risk department before opening. This has caused me to miss several great opportunities, they told me its always been like this, but i never remember having to wait minutes for an order to open.
So I'm looking for a new broker that either is international, or Canadian. I have a very small account (roughly $1000) so i know that may limit some options for now. I've watched Tim's video on brokers for 2017 and also was wondering if i could get feedback from other traders. So my questions
1. Do all brokers have a risk department reviewing process that slows down trades? i assume not becuase no body on profitly would be trading penny stocks. What other brokers, have this system so i should avoid?
2. CANADIAN TRADERS! what platforms/ brokers are you using and what is your experience with them?
3. Questrade users: The platform seems very basic from what I've seen so far, whats it really like?
4. Opinions on: Fidelity Scottrade Shwab?
If you can include prices & commissions that would help a lot too!
Any comments will help
Thanks
1. I'm currently with Virtual Brokers, and I don't believe there is a risk department, especially when it comes to placing trades. I find that whenever I place a trade, it gets executed rather quickly. You might want to clarify this with them.
Pressing enter on the keyboard submits the text, I was trying to create a line break. For your 2nd question, I use their free web trading platform, VB Web trader light (provides level 1 data), although I use Stocks to trade as my level 2,scanner, news, charting. Going long on a trade seems to work very well with them, however, when I try to short, it doesn't go through (I get message that says "high risk" or some sort). I'm not sure if they just don't have shares to short or what. Their commiss
Their commissions are 9.99, roughly $20 for a buy/sell. Check out their website for more information. Seeing how I'm not able to short through this broker, I'll have to go long for now, until I've amassed enough funds to open an account with Interactive Brokers.
Cool ill check em out, thanks for the comment!
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