Monsieur_dee Posted April 17, 2021 Share Posted April 17, 2021 On 3/15/2021 at 12:43 PM, KCLarkin said: Disclosure: long IBKR As a Canadian, there are a few main advantages 1. Generally easier to connect with other banks (my wife has TD and they only let you transfer to a TD account). I even have IBKR connected with a USD margin account at a Big Bank CAVEAT: they are extra cautious with both deposits and withdrawals. So it is easier to get money in and out. But it is slower. And they have weird limits on $$$ value. 2. Significantly better foreign exchange rates 3. Buying international stocks 4. Margin rates 5. Online elections for spinoffs and other corporate transactions 6. Better executions I don't lend out shares, but I believe it is available for Canadians. RESPs -- all my registered accounts are still with a Big Bank so I am not sure. I only use IBKR for my US/international shares. I much prefer IBKR, but I don't trade my Canadian stocks enough to bother with a transfer. For my US stocks, the ForEx rates alone made the transfer worthwhile. What account do you hold your international stocks (non US) in? Tfsa? RRSP? I'm with questrade & I don't really want to pay $250 Canadian to buy a Japanese company. Link to comment Share on other sites More sharing options...
randomep Posted April 17, 2021 Share Posted April 17, 2021 (edited) About the wait times: I can assure you the US vs Canada is no different. I had to call several US brokers regarding stock transfer problems and the average wait time in one week was 4hrs. Yes you heard that right. I just worked at my desk and set an alarm around the time when the expect wait is done. But I feel canadian brokers/banks are a big huge ripoff when it comes to fees. They charge for everything, invactivity, minimum balance, etc. US IBKR charges almost nothing for currency exchange, other US brokers like Fidelity charge 1%, TD Canada? 2%! I need to know some good brokers in canada. Edited April 17, 2021 by randomep Link to comment Share on other sites More sharing options...
KCLarkin Posted April 17, 2021 Share Posted April 17, 2021 18 hours ago, Monsieur_dee said: What account do you hold your international stocks (non US) in? Tfsa? RRSP? I'm with questrade & I don't really want to pay $250 Canadian to buy a Japanese company. I use my taxable IBKR for my rare international trades. If you are buying international stocks, IBKR is the only real choice. If you do enough US or international trades to justify the maintenance fees, IBKR does offer registered accounts. Link to comment Share on other sites More sharing options...
Monsieur_dee Posted April 17, 2021 Share Posted April 17, 2021 1 hour ago, KCLarkin said: I use my taxable IBKR for my rare international trades. If you are buying international stocks, IBKR is the only real choice. If you do enough US or international trades to justify the maintenance fees, IBKR does offer registered accounts. When I spoke to them. They said they don't allow any international (outside USA or Canada) trades inside a registered account. Seems like if I want to make an international trade it'll have to be in a non registered account. Thank you. Link to comment Share on other sites More sharing options...
randomep Posted April 18, 2021 Share Posted April 18, 2021 Speaking of IBKR, apparently it doesn't cover certain international stocks that fidelity covers. I tried to transfer the following, BTW does any know what the heck DTC eligible is? EUROPEAN RELIANCE S.A. EUR0.63(CR) ISIN #GRS277023008 SEDOL #5212770 (ERPRF)IBCS 2021/04/15 09:11:29 Dear Randomep, IB does not trade ERPRF / Security cannot be added: Not DTC Eligible - Not in DTC file: IB offers only DTC-eligible securities. Link to comment Share on other sites More sharing options...
Xerxes Posted June 11, 2021 Share Posted June 11, 2021 Anybody has experience with HSBC as a Canadian for foreign stock exchanges ? --------------------------------------- Benefits of building a global portfolio at HSBC InvestDirect Lower trading costs Pay the lowest online Hong Kong Exchange trading commission in Canada (HK$28822 View footnote 2). If you are an HSBC Premier or HSBC Advance client, you may also be eligible for up to 20% off international trading rates. Control Gain more control over your foreign exposure with direct access to more of the world's developed and emerging markets than through any other online broker in Canada. Access Reach 30 global markets, including all 3 exchanges in the world's biggest and most influential emerging economy, China. See all exchanges, by country/region name Foreign currency Invest and settle trades with HSBC in 10 different currencies: Hong Kong dollars, British pounds, Euros, Japanese yen, Australian dollars, New Zealand dollars, Singapore dollars, Swiss francs, and Canadian and US dollars. Custom quote views Create up to 10 Quote Lists to quickly and conveniently determine the status of securities in which you've invested or are considering. Real-time notification Be ready to make investment decisions at any time with HSBC InvestDirect Alerts service. Major Canadian stock and options exchanges, including: Canadian National Stock Exchange (CNSX) Montreal Exchange (ME) Toronto Stock Exchange (TSX) TSX Venture Exchange (TVX) Major U.S. stock and options exchanges, including: American Stock Exchange (AMEX) NASDAQ Stock Market (OMX) New York Stock Exchange (NYSE) Chicago Board Options Exchange (CBOE) Chicago Board of Trade (CBOT) Major European stock exchanges, including: London Stock Exchange (LSE) Euronext Paris (EPA) Frankfurt (FWB) Asian stock exchange: Hong Kong Exchange (HKEX) Link to comment Share on other sites More sharing options...
samwise Posted November 9, 2021 Share Posted November 9, 2021 Does BMO investorline allow foreign stocks in Hong Kong, Australia and London? Anyone has experience with these? E.g. buying the HK listing of Tencent or Alibaba. If yes, what is the cost per trade? Their website only mentions TSX, NYSE and NASDAQ. Link to comment Share on other sites More sharing options...
Xerxes Posted November 9, 2021 Share Posted November 9, 2021 my experience has been that most Direct Investing branch of the Canadian big banks do not offer foreign investing outside North America Link to comment Share on other sites More sharing options...
longlake95 Posted November 9, 2021 Author Share Posted November 9, 2021 I can buy London, Paris, Frankfurt exchange companies….but it’s a hefty commission…$200. Crazy. CIBC Investors edge. Link to comment Share on other sites More sharing options...
SharperDingaan Posted November 9, 2021 Share Posted November 9, 2021 Most who do this have a foreign account, tied to their foreign address. i.e: A London brokerage account tied to a UK address. Used to be that you just called the foreign broker, and had them place the trade via your foreign account. Today, you just log onto their platform and place the trade yourself, same as you would do were you in NA. Modern twist on correspondent banking, and materially cheaper. SD Link to comment Share on other sites More sharing options...
samwise Posted November 9, 2021 Share Posted November 9, 2021 4 hours ago, longlake95 said: I can buy London, Paris, Frankfurt exchange companies….but it’s a hefty commission…$200. Crazy. CIBC Investors edge. Thanks Longlake. Crazy commissions! But it seems that's only European exchanges, not HK and Australia? Link to comment Share on other sites More sharing options...
longlake95 Posted November 9, 2021 Author Share Posted November 9, 2021 Well...to be honest, I've never tried to buy on an Asia-pac exchange. I'm guessing they can probably do it. But it's a typical Canadian RIP-off. Link to comment Share on other sites More sharing options...
bablu Posted November 9, 2021 Share Posted November 9, 2021 I used to use use Interactive Brokers in Canada and have very cheap commissions. Link to comment Share on other sites More sharing options...
bizaro86 Posted November 10, 2021 Share Posted November 10, 2021 Yeah, if you're planning on doing more than one trade outside of N. America it probably makes sense to sign up for IB. Link to comment Share on other sites More sharing options...
gokou3 Posted November 15, 2021 Share Posted November 15, 2021 Does anyone else experience this? I place a limit-price buy order for a stock at a price better (higher) than the current bid, and yet my order does not show up as the best bid or in the Level 2 quote. Is my order "in the system"? The stock is a lightly traded one (~$1M volume per day), dual listed on TSX and NYSE, and I have placed orders on both exchanges with BMO Investorline and TD Webbroker. Do I need to call in to get that trade executed? Link to comment Share on other sites More sharing options...
bizaro86 Posted November 16, 2021 Share Posted November 16, 2021 The Canadian brokers all sell order flow - so your order is sitting at a HFT awaiting a match. Link to comment Share on other sites More sharing options...
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