Posts Tagged ‘trade’

Canada has held its sixth place ranking out of 177 ranked countries in the conservative Heritage Foundation’s 2013 Index of Economic Freedom, with an overall score of 79.4, with the U.S. holding its tenth place ranking, with an overall score of 76.0.

Canada now exceeds the United States in 8 out of 10 components of economic freedom, being surpassed only in government spending and labor freedom:

Canada vs. the United States
Property Rights 90.0 vs. 85.0
Freedom From Corruption 87.0 vs. 71.0
Government Spending 44.8 vs. 47.8
Fiscal Freedom 79.8 vs. 69.3
Business Freedom 91.7 vs. 90.5
Labor Freedom 82.3 vs. 95.5
Monetary Freedom 75.2 vs. 75.0
Trade Freedom 88.2 vs. 86.4
Investment Freedom 75.0 vs. 70.0
Financial Freedom 80.0 vs. 70.0

I’ll be discussing these results in an upcoming episode of my radio program, Exposing Faux Capitalism, airing every Sunday from 1 to 3 PM Eastern on Oracle Broadcasting.

Previously, I wrote the article, Still think Canada is more socialist than the United States? The joke’s on you.

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Front plaza of Scotiabank Place on Draft night.

Scotia iTRADE, a so-called discount brokerage, announced that they will be raising their per-trade fee on October 27, 2011, from $19.99 to $24.99, on those customers with less than 50,000 in combined cash/equity assets.

As a Scotia iTRADE customer, I found out about this change through a letter that was mailed to me.

On June 8, 2010, I documented how Scotia iTRADE was charging more for Canadian equity trades than U.S. trades, despite U.S. trades presumably being more costly for the Canadian brokerage. At the time, there was no 2-cent fee per share over 1000 shares on a U.S. equity trade compared to a Canadian equity trade.

They subsequently eliminated the difference by making the per-trade fee the same in both cases, as you may have expected.

In addition to the new $24.99 per-trade fee for all equity trades for customers with less than $50,000 in combined cash/equity assets, they are increasing their per share trading fee for more than 1000 shares by 50% — from two cents per share to three.

Without a significant independent Canadian discount brokerage — as Scotia iTRADE’s predecessor, E*TRADE Canada, used to be, I would expect that the brokerages of the other four major Canadian banks will follow suit in increasing their prices, due to Canada’s government-enforced banking oligopoly.

For insight into E*TRADE’s average customer profile, see how they assume an annual income of $200+k and a net worth of $1+ million when you open a new account.

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