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Discussion Starter #1
I'm doing a brokerage review of Sc. iTrade and I was hoping to get some quotes or opinions from some current or former (not too former) customers.

You can comment on whatever you want, but I'm looking for:

1) Trading platform/interface - are these ok/good/bad?
2) Customer service - any impressions you might have.
3) Research reports and tools. Do you use these and are they any good?

You can comment here or PM me or email at mike AT moneysmartsblog DOT com

thx, Mike
 

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1) Trading platform/interface - are these ok/good/bad?
I have been using the web platform only since I originally started with E*Trade a few years ago.
The transition to Scotia iTrade did not change much on the web platform, except replacing the purple E*Trade motif with the Scotia red look-and-feel.
So far, I have been relatively satisfied with the web platform.
This is my only online brokerage account, so I can't claim to have experienced any different.
2) Customer service - any impressions you might have.
So far, good.
When you call, usually they pick up the phone within a couple mins.
During the transition to Scotia, they were having several issues and those days the hold time was longer.
But that was just one instance and lasted a few weeks.
They seem to have recovered and moved on since then.
On particularly volatile trading days (like May 6th), wait times are longer but I'd expect that to be the case with any other brokerage.

Their trading desk staff are courteous, understanding and knowledgeable.

3) Research reports and tools. Do you use these and are they any good?
Yes, I use the Analyst reports and they are ok.
I believe TD have better quality analysis.
I think they can improve their data tracking and charting capabilities.
Generating price charts and other types of TA charts is not very powerful.
And they really need to build a good stock scanner into their web platform, like, yesterday.
That's one feature that is really missing.

Please post back or PM me if you have other questions.
I have been using them for 3 years now and so far reasonably satisfied.
 

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Discussion Starter #3
Thanks for the feedback Harold.

One more question - what kind of investment products do you have at iTrade (ie stocks, etfs, mutual funds) and what kind of trader would you say you are? (ie frequent trader, buy and hold) How many transactions would you do in a month/year?
 

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One more question - what kind of investment products do you have at iTrade (ie stocks, etfs, mutual funds)
Stocks, ETF and individual bonds.
No mutual funds.
what kind of trader would you say you are? (ie frequent trader, buy and hold)
Low volume trader. Mostly buy and hold.
How many transactions would you do in a month/year?
A dozen transactions, I think.
Even though I don't trade much, but I use the web tools a lot.
My usage is about 1 hr. a day on average - mostly individual stock analysis and pricing history.
I think I'm pretty familiar with all the features they have on the web platform.
Since last 2 years, I have been gradually moving my other accounts over to iTrade so I've become familiar with how they handle various types of accounts.
I also lived through the migration of their registered accounts from Penson Financial over to Scotia Capital (after the Scotia transition).
 

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I'm doing a brokerage review of Sc. iTrade and I was hoping to get some quotes or opinions from some current or former (not too former) customers.

You can comment on whatever you want, but I'm looking for:

1) Trading platform/interface - are these ok/good/bad?
2) Customer service - any impressions you might have.
3) Research reports and tools. Do you use these and are they any good?

You can comment here or PM me or email at mike AT moneysmartsblog DOT com

thx, Mike
I have two friends that trade with tradefreedom. They both got a letter that they are chaning their fee schedule. One moved to Virtual Brokers and the other is lazy as hell and is waiting to see how the transition is going to go. I can let you know in a month. From what I gather, welcome to the "I am a bank mentality". We need more non-banks competing with these banks. IMHO
 

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I use I-trade and trade quite often.
The platform is quite good, especially compared to CIBC my other brokerage.
The service is average at best, and the research is like most others.
 

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Hey Mike,

I have an account with iTrade,

1. Their online interface is adequate and usable, and their prices are reasonable providing that you have a $50k balance ($9.99/trade).

2. Their telephone service has been relatively quick to answer and knowledgable from my experience.

3. I do not use research reports. One thing they do lack are real-time charts for traders and candlesticks and other indicators.

Overall, I like my iTrade account and would recommend them for accounts greater than $50k.
 
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