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Author Topic: Which Broker Institution are you using  (Read 962 times)
newinvestor1
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« on: February 07, 2017, 09:10:49 PM »

Hello all,
I just started following UPM V3 with $33K. I am currently using Questrade (which I opened recently). Questrade charges ECN fees on top of their $4.95-$9.95 (1 cent per share). Though based on the volume of the shares I trade, you may get lower than $9.95 commission fee, with ECN fee added, it is very uncertain and in some cases, I may pay more than $9.95 per trade on average in fees.  If I go with RBC or TD they charge a flat fee of $9.95 or $9.95. 

In UPM V3, in calendar year 2016, there were 34 buy orders and 36 sell orders. Each time there is a buy or sell order, as per SSP suggestion, we need re-adjust the existing stocks to match SSP performance  based on this article.
http://www.superstockpicker.com/forum/index.php?topic=121.0
With some assumptions and rough calculations for 2017 for similar number of trades, if I go with RBC, I may pay between $1741 to $2368 i.e., roughly anywhere between 5.27 to 7.17% goes in trading fees. If I go with Questrade, I think I will end up at the same fee rates. In fact, Questrade will be even more uncertain..


If any one has suggestions regarding brokerage institutions that can provide lower fees, I really appreciate. Thanks in advance.
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bryanmcn
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« Reply #1 on: February 08, 2017, 08:11:50 AM »

I don't bother "readjusting". Its just not practical. I wish that SSP would simple work with a $100K (for example) portfolio indicate how much is invested in stocks and cash and deduct an average brokerage fee per transaction. It would make the advertised returns much more believable.
Losing 5-7% of your returns as fees is unacceptable in my opinion. 
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newinvestor1
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« Reply #2 on: February 09, 2017, 04:15:41 PM »

Thanks Bryan for the response. I am also thinking of not re-adjusting for smaller changes in adjustments. For example, if the re-adjustment of existing stocks result in selling stock worth $200 or buy stock worth $350, I won't take re-adjust.

CIBC offers $6.95 trading fee, which is better than RBC, Questrade, TD etc..
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