Why most Canadian investors still pay nearly $10 to trade stocks online, while Americans typically pay zero

  • 📰 globeandmail
  • ⏱ Reading Time:
  • 37 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 92%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

A roundup of investment ideas for active investors

It was almost two years ago that National Bank Direct Brokerage became the first Canadian online broker to eliminate commissions for trading stocks and ETFs.

It’s not that Canadian online investors don’t care about fees. In its latest brokerage customer satisfaction ranking, J.D. Power found that high costs and fees are the top reason cited by investors for switching brokers. High fees accounted for 30 per cent of switches, while 17 per cent were tied to products, tools and services and 13 per cent were a result of poor service.

For all this awareness of fees among Canadian investors, they’re not switching to zero-commission brokers in sufficient numbers to upset the pricing status quo. Beyond NBDB and Desjardins, free trades can only be found in trading apps like Wealthsimple, MogoTrade and TD Easy Trade . In all, zero commission trading is just a niche.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines