This week, we are taking a look at Scotia i-Trade discount brokerage. This brokerage, is of course owned by Scotia Bank, one of the big five Canadian banks. Scotia started iTrade and then bought E-trade and amalgamated it into the iTrade brokerage. Trade Freedom brokerage has also been purchased and will be merged into iTrade as well. If you would like to compare all the different Canadian discount brokerages, check out the Canadian discount brokerage comparison.

Scotia iTrade is cheaper than any of the other discount brokerages owned by the big banks. If you want to have a discount brokerage account at a big bank, then this is the cheapest one.

Detailed Quote | Scottrade

You can still do a lot better on fees though, by choosing any number of the independent brokers. So far, I have been relatively satisfied with the web platform.

When you call, usually they pick up the phone within a couple minutes. Their trading desk staff are courteous, understanding and knowledgeable.

A dozen transactions, I think.

Getting Quotes | Scottrade

My usage is about 1 hr. I also lived through the migration of their registered accounts from Penson Financial over to Scotia Capital after the Scotia transition. If you have any experience with Scotia iTrade and want to share your thoughts, then please leave a comment.

See it on Amazon now. I have been with Trade Freedom since and watched changes with the Scotia Bank takeover. My opinion at the moment is that TD Waterhouse or Questrade may be a better choice, that is they way I will go if the guys at Scotia Bank Brokerage dissapoint me.

As an investor my goal is making money, this also compensates the brokerage firm or bank. I have asked numerous people at Trade Freedom and still have no valid answer. With my full service broker all charges where added to the cost of the equities and divided by the number of shares.

How is this addressed with Trade Freedom or ITrade buys and sells? Scotia Bank otherwise is a most excellent bank with extremely caring personnel and they deserve commendation for that! I was a Tradefreedom client for years and was satisfied then scotiabank bought Tradefreedom they changed the fees and came up with more fees.

I liked the platform but the customer service is horrible. For the past 18 days I have called them everyday and more than once a day with the same technical issue with my platform. They called me back 2 times over that time. I was never able to resolve the issue even after I bought a new computer as they suggested. They managed to get me off the phone everyday with a promise of a callback or telling me no manager was around for me to talk to.

They eventually let me talk to NEXA their platform provider then NEXA told me they couldnt talk to me its their policy. Therefore I was never able to receive a solution to my problem so I had to leave ScotiaiTrade Tradefreedom. AND I finally decided to look over my statements and found fees that they charged me and when I questioned them about these fees they said they would reverse them but had to charge me to look into that matter.

To this day they have never reversed the fees. I am so disgusted with scotiaitrades policies, its unbelievable how they could treat their clients this way especially considering how much money I made for them.

Please contact me if you have any questions I would be happy to answer them troylee ns. I closed my account with iTrade yesterday and I will be closing all of my accounts with Scotiabank based on my iTrade experience; I will provide no business to Scotiabank again. I had left my account dormant over the past couple of years because I had no interest in doing any trades — I initially opened my account with eTrade and bought shares in 2 junior resource companies with the intention of holding my position until a good time came to sell.

No where in the iTrade literature did I see it stated that iTrade had the right to sell my stock without my consent so that their service fees could be paid. I have no idea how it is they are make money zrii amalaki to do this.

My contact information was out of date at the time iTrade sold my stock but I am still puzzled how they could move ahead with selling the stock considering they had no confirmation from me either way.

I could understand my account being in negative from my racking up their ludicrous service fees or my not being allowed to make any trades until the fees were paid, but for iTrade to be allowed to sell my stock? Their service fees trump my right as the owner of a stock? It just makes no sense and strikes me entirely unethical.

Touchtone Stock Quotes | Scottrade, Inc

I am confirming with IIROC whether it was legal — I am sure it was, there is obviously some legal loophole that iTrade is allowed to jump through at their convenience. Frightening that iTrade has this kind of control over their client accounts. So if you are considering opening an account with iTrade, make sure you are very well informed as to how little control you will have over how do mmorpgs make money account if you are not planning on being a regualar user of their services.

Thanks for your inquiry and for taking the time to share your experiences here. As always, your satisfaction is important to us and we value your comments. Please allow me to answer some of your questions.

TradeFreedom uses the First-In, First-Out FIFO method to calculate average cost base ACB for a security. It is provided for your convenience and as a reference point only.

I hope this information helps. Placed a limit order today on my Tradefreedom ScotiaiTrade platform to purchase a stock, it dropped below european stocks that warren buffett is buying 2016 limit and no confirmation, so I cancelled, and placed a lower limit, it hit that limit and still I didnt get a confirmation, I place another limit order and it hits as well no confirmation.

Few minutes later I found out the hard way that all orders did execute I just didnt get the notifications. Now this rarely happened to me except once before but it should never happen. Now I have 3 times the shares I wanted. I was told last time the platform failed to beware and its my fault as Im using the platform at my own risk.

Gotta love my online broker. Careful when trading in your TSFA. If you purchase a US dollar stock they will hit you witha spread to convert you from Canadian to USD then back again when you sell.

Plus they make trade commission on both sides. You could actually buy a stock, watch it rise, sell it then look at your settlements to see the whole thing lost you money.

It happened to me with AAP on April 17th. TD Waterhouse washed the spread out so check your rates before you sign up anywhere. One of the major reason for me to shift to them is the expectation of the FlightDesk Trading Platform, which turns out as packing jobs from home dorset bad decision of a life time.

First, they say I can get streaming quote and level2 data on FlightDesk. Well, All the bids, offers, volume showing in FlightDesk is delayed about 20 minutes. And amazingly FlightDesk does NOT tell you those data is delayed. I compared the same data between FlightDesk make money with craigslist and ebay iTrade Web based trading.

And you know what? How can one trade with that platform if the data is wrong?

Best Online Brokers for - The Simple Dollar

And they even promote people to trade more? Second, Active Trader Call Centre. Since I am new to iTrade and FlightDesk. I called their call centre wanting to get some information and help to use the FlightDesk platform.

And he had absolutely no idea The reliability of the binary options brokers IS times and sales. After he put me on hold for 10 minutes trying to find out what it is. He came back and tell me to forex classified ads at the volume bar below the chart.

And he put me on hold again. I could not scottrade stock l quotes that one of the big banks in Canada, they could not find an employee that understands the equity market? TD water house is doing way better with the TOS platform! Scotia iTrade do NOT deserve a good trader to open account with them. If converting your RRSP to RRIF, as required at age 71, be aware that all stocks enrolled in DRIP have to be re-enrolled, following confirmation of transfer to the RRIF format.

This is not by design. Ask the service provider I contacted. Scotia iTrade charges Basically, Scotia will put extremely high cost barriers to take your money out.

I would not consider scotia as a broker due to this. BMODisnat, etc. Since they bought Trade Freedom the service goes down and them platform FligtDesk is good for nothing.

I lost a lot of money with that platform which is slow, unstable — juste a gadget to impress — TD waterhouse is much better. I am a pretty new user of Itrade, but I am greatly impressed with their staff. They are really helpful and courteous. I also like that they are a real bank….

I know banks are clever with fees and move-out charges, but at least you know they are secure. I did consider BMO and would have gone with them, except that Scotia offers commision-free ETFS and a few nice US conversion options……that sweetened the deal.

Maybe as some write, I will be upset if I ever try to move my securities due to fees, but so far, I am a happy camper with ScotiaItrade and would recommend them for their great service and reasonable telephone wait times……hopefully my money will stay with them for a long time…until I can afford to spend some of it!

I have been using Scotia iTrade as my broker.

They have had provided great customer service. Otherwise, the trades have gone through, the website works fine, and I have no complaints, other than that a few features on their website are down at the moment. Scotia iTrade is the worst trading platform I have ever used and their customer service is just as bad. I have experienced multiple system outages and lag times in the system refreshing. I reported issues with their system at 6: The issues are very serious as no trades are showing up for February 1 so you can not sell any stocks you bought the day before and the ones that you sold are still showing up.

All of my account balances are incorrect as well. Again, the worst trading platform ever. Leave this field empty. Notify me of follow-up comments by email. Notify me of new posts by email. LinkStuff — Extreme Early Retirement Edition.

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Scotia iTrade Discount Broker Review by Mike Holman. Overall impressions Scotia iTrade is cheaper than any of the other discount brokerages owned by the big banks. TFSA — No fee. First person was Harold, who is a low-volume trader and owns individual stocks and ETFs. Research reports and tools: Yes, I use the Analyst reports and they are ok.

I believe TD have better quality analysis. I think they can improve their data tracking and charting capabilities. Generating price charts and other types of TA charts is not very powerful. They really need to build a good stock scanner into their web platform, like, yesterday. Their telephone service has been relatively quick to answer and knowledgeable from my experience.

I do not use research reports. One thing they do lack are real-time charts for traders and candlesticks and other indicators. Mario I use I-trade and trade quite often. The platform is quite good, especially compared to CIBC my other brokerage. The service is average at best, and the research is like most others. Want to learn more about RESPs? The Simple Guide to Registered Education Savings Plans Everything you need to know about RESPs.

Thanks, -Nabil nabil scotiaitrade. I would recommend them from my experience thus-far. No content on this site may be reused in any fashion without written permission from Money Smarts Blog Money Smarts Blog Privacy Policy.