Posts Tagged ‘Canadian equities’

Previously, I wrote  how Scotia iTRADE lets you buy stocks with a negative cash balance, and how they charge more for Canadian equity trades than U.S. equities.

They also let you sell the exact same shares on the same day you bought them, before the settlement date of your acquisition.

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Scotia iTRADE, formerly E*TRADE Canada, is a Canadian subsidiary of the Canadian public corporation, the Bank of Nova Scotia.

You’d think that being a Canadian company, it would be no more expensive to trade stocks on Canadian exchanges than U.S. exchanges.

However, as their pricing chart shows, if you have combined assets of less than $50,000 CAD and you made fewer than 30 trades in the past quarter, their commission for Canadian equities over $1.00 is $19.99 CAD, up to 1000 shares, and two cents per share thereafter. For U.S. equities, it’s $19.99 regardless of the amount of shares purchased.

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