0.99c per trade at Virtual Brokers
Has anyone seen the new commercial from Virtual Brokers on BNN. They are offering stock trades as low as $0.99 with no ECN fees. Very impressive.
I have never heard of this company, and I wouldn't use an online broker that I don't recognize as a brand, just to save a few bucks per trade. Then again I'm not a day trader and I guess these commissions do add up after a while .
Looks like a similar offering to Interactive Brokers where they have low commissions but charge for data. However, IB has a min charge per month.
One thing that VB offers is registered accounts, which is a big plus.
Their margin rate is too high.
They also seem to offer no trading fees for mutual funds, especially good idea if anyne wants to earn a bit of interest and buy money market funds, questrade doesn't pay interest on cash inside rrsp and charges 9.99 to buy and sell funds.
I think what VB offers is pretty good, unfortunately I am yet to hear of anyone using it therefore wouldn't be inclined to switch.