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Canadian online brokers: BMO, TD, VirtualBrokers


turar
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I will need to move a pension account into a "locked in RSP" account (LIRA) with one of the brokers. Unfortunately, IB doesn't offer locked in accounts, so I'm trying to choose between Virtual Brokers, BMO, or TD. I do have a smaller VirtualBrokers account, and they've been mostly OK, just that their trading interface feels a little odd, let alone that there are several. Does anyone have any experience with BMO, TD, or others?

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TD is really good and their fees are kinda ok if you have a certain level of assets. My registered stuff is with Questrade. They're cheap and trading is good. However their back office is atrocious. Expect to send any documents about 3 times cause they'll loose it twice. And all the ppl on the phone are idiots. But as I said, once you get past all that they're ok....

 

rb

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I would stay away from RBC. They have no respect for the client. Their general attitude is that it is a privilege for you to do business with them. I didn't use RBC services even when i worked there and they were free. Plus they really screw you on fx.

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My wife and I have RRSPs at Scotia Itrade and RBC Direct investing. The only differences I've noticed: convertible debenture commissions are $9.99 at RBC, and more at Scotia ($24.99 iirc). RBC will allow you to hold US dollars in your RRSP, scotia doesn't. (Convert using Norberts gambit, don't pay them to do it). Scotia gives me free level 2 quotes for Canadian stocks.

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