The company I use for most of my trades now has announced a new fees structure for us Canadians. They want the number 1 spot not sure the details but this what I was sent upon logging in.
View the commercial here https://www.youtube.com/watch?v=mqeUjNN2YBg&index=92&list=PLZQl3xDAxq80kPH1M5qHSo9_A1AbXpV9-
https://www.virtualbrokers.com/en-us/commissions-and-fees
PowerTrader Pro™ 8.2
Developed for active traders, PowerTrader Pro™ was originally available for institutional level investors only. Now, Virtual Brokers' clients can access the diverse range of trading tools including in-depth charting, hot keys, baskets and a variety of Top 10 Reports. This completely customizable system is designed to assist in quick decision making and deliver intuitive execution management.
With PowerTrader Pro™, clients will be able to enter, manage and route complex options orders to designated executing destinations. More advanced options traders will be able to take advantage of the new functionality to enter sophisticated spread orders to meet their specific options strategy. The Complex Options module includes pre-set spreads, order management and selected risk controls. Free streaming quotes are available for those conducting complex options trades using PowerTrader Pro™.
The fine Print
Virtual Brokers is Canada’s only online brokerage that allows you to choose the commission schedule you want applied to your trading on a daily basis. There are no minimum trade requirements, minimum account balances, or minimum number of trade required for the service.
Learn more about our commission plan choices below
COMMISION-FREE
CLASSIC COMMISION
BROKER-ASSISTED
EQUITIES
Free
OPTIONS
Monthly Contracts | Commission (USD/Contract) | Minimum ticket (USD) |
---|---|---|
<=10,000 | 0.75 | 5.00 |
10,001 - 50,000 | 0.70 | 5.00 |
50,001 - 100,000 | 0.45 | 5.00 |
> 100,000 | 0.35 | 5.00 |
Monthly Contracts | Commission (CAD/Contract) | Minimum ticket (CAD) |
---|---|---|
<=10,000 | 1.25 | 5.00 |
10,001 - 50,000 | 1.15 | 5.00 |
50,001 - 100,000 | 1.10 | 5.00 |
> 100,000 | 1.00 | 5.00 |
EXCHANGE-TRADED NOTES/DEBENTURES
$1.00 per each $1000 par value per side, NO ECN Fees
MUTUAL FUNDS & FIXED INCOMES:
Not applicable
TERMS, CONDITIONS AND CONSIDERATIONS
- Commission grid is available only for Canadian Resident’s, Non-Institutional margin accounts and for non-Algo trading.
- Minimum account opening balance of $5,000 CAD and trading with one of Virtual Brokers application-based trading platform is required.
- Trade placed over Virtual Brokers’ website, or mobile app or trade placed in account with balance lower than $2,000 in net equity will be charged by Virtual Brokers “CLASSIC” commission grid.
- ECN / Exchange fee and Clearing Fee may apply on Equity and ETF where applicable. All fees are in the currency of the market. ECN / Exchange and Clearing fees may change without notice.
- You may note a small difference on your net dollar value of your transactions for US Securities due to “SEC Fee”, "Option Regulatory Fee", "TAF Fee" to a max of 0.0002/share.
- Orders placed in Pre or Post market, anonymous, iceberg and also bracketed-orders will be subjected to a “Special Handling Fee”.
- Interest rate charged on “Commission-Free” accounts will be 1.50% points higher than Virtual Brokers standard interest schedule.
DISCLAIMER
- We may receive compensation from securities issuers and other third parties based on their products we sell to you, such as “trailer fees” on mutual funds. We may receive compensation by trading destinations, including electronic communication networks, market makers and exchanges in connection with trades on markets we direct to such destinations. We may be compensated in other ways as a result of the business you may do with us, including interest spreads on uninvested cash deposits with us and foreign exchange spreads when you convert currencies. We endeavor to be fully transparent on fees and commissions that you pay to us and to provide you with the information in advance so that you know what you will be paying. At times it may not be possible to completely estimate the exact fee you will pay to us in advance, although the ultimate fee charged will be calculated in accordance with the Commission Grid applicable to the account and the trade, as is in place at the time of the trade.
I am surprised you got this change so fast from them and they listened. Noticed shorts are more available too now. You still staying with them when you open IB or this going to be your only broker now?
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