margin loan rates

IBKR doesn’t actively support the MetaTrader 4 or 5 platforms. As you’ll imagine, they need to encourage the download of their bespoke TWS platform so that you do not get too much help from them integrating your MetaTrader software into their offering. Fortunately, there are some third-party software out there which will help bridge the platforms.


It has some great options for that group, but the average person will likely never make use of them. Interactive Brokers Canada is built for international professional traders – not Canadian everyday investors. Stacie Hurst is an editor at Finder, specializing in a wide range of topics including stock trading, money transfers, loans, banking products, online shopping and streaming. She has a Bachelor of Arts in Psychology and Writing, and she completed one year of law school in the United States before deciding to pursue a career in the publishing industry. When not working, Stacie can usually be found watching K-dramas or playing games with her friends and family. IMPACT by Interactive Brokers is a mobile trading app that lets you focus your investments on ESG factors.

IB is graded here for people who think of themselves as traders more than investors. If you’re in this group, it’s a no-brainer to give IB a look as a trading platform. Costs are at the low end for brokers that haven’t gone commission-free, forex is comparatively cheap, margin rates are highly competitive and large accounts actually earn interest. Most other brokers pay little or no interest on cash balances.

Questrade Pros and Cons

You can try the free trial of the Portal if you’re not quite ready to commit. So while your investments are likely as safe as possible from hackers or fraud, it’s perhaps the US taxman that you have to be most careful of. Interactive Brokers Canada is part of the parent company Interactive Brokers Group, Inc., which has been around for over 40 years and boasts a consolidated capital of over $10 billion.

Questwealth has a dedicated portfolio for the socially conscious investor, called SRI portfolios. HelloSafe.caoffers site visitors information on insurance and personal finance products in compliance with applicable laws. Our guides, comparison tools and calculators are available free of charge. The content contained on theHelloSafe.cawebsite is for information purposes and does not replace that of professional advisors.

For instance, accounts with but $ 100,000 must meet a minimum of $ 10 in commissions per month. If you’ve got an account with a balance of $ 2,000 or less, you want to pay a minimum trading commission of $ 20. One of the ways in which IBKR really tries to differentiate itself from other brokerages when it comes to attracting day traders and professionals, is by offering very low margin rates. While BMO has no minimum balance requirement, they do charge a $25 quarterly fee for non-registered accounts if your balance is less than $15,000. You can also avoid paying this $25 quarterly account fee by making at least two trades in six months.

What is the best Forex broker for beginners?

The brokerage is teaming up with the Paxos Trust Company (PayPal’s US crypto arm) to offer these new options . IBKR prides itself on being the best option for exchanging currencies around the world. The thing is that the vast majority of Canadian investors will never need to exchange currencies, and even those that do will only need US Dollars in addition to Canadian Dollars. Detailed quotes, advanced charting, and access to investment news are also available on the Client Portal.

  • From stocks and options to even crypto, forex, and futures, there are many different platforms that you can invest and trade with in Canada.
  • Questrade Trading is the company’s primary trading platform.
  • CIBC offers one of the lowest fees for assignments and exercises of option positions, with the fee for auto assignments being just $6.95 plus $1.25 per contract.
  • A traditional broker, sometimes called a full-service broker, is a person that invests in the stock market on your behalf.
  • No annual fee is charged for TFSAs or RESPs no matter your balance.

Trading on margin is only for experienced investors with high risk tolerance. For additional information about rates on margin loans, please see Margin Loan Rates. Security futures involve a high degree of risk and are not suitable for all investors.

Fractional shares

RBC does not offer other foreign stocks listed in other countries outside of Canada and the U.S. RBC Direct Investing covers up to $200 in transfer fees if you transfer $15,000 or more to RBC. Many day traders use online brokerages in order to execute their quick exchanges within the same trading day, due to the little to no trading commission fees that come along with many online brokerages.


If you trade mainly mutual funds and want to take advantage of dollar cost averaging, Questrade is not the place to be. They will charge $9.95 per trade and you would not want to increase the number of trades to take advantage of dollar cost averaging. You are better off at a place like Desjardins which operate Disnat. Disnat charges $0 to buy mutual funds and $0 to sell mutual funds if the sale takes place after a minimum 90 day hold. Otherwise, they will charge $32 for a sale within 90 days of the original purchase.

One Star also very high for IBKR

Many investors don’t want the hassle of buying and selling stocks and ETFs and would prefer not to have to monitor their investment portfolio. In addition to the fees listed above, when you transfer your money to Questrade from another broker, Questrade will rebate the transfer fees up to $150/account, regardless of the balance being transferred. See Questrade for the full terms & conditions of this offer. Traders use online Forex brokers to get access to a vast range of currency pairs such as USD/CAD and will trade on the pair depending on the future outlook of their exchange rate.

I approached them with this evidence nearly a week ago and I have been told that they are still investigating the issue. I could get my bank to recall the funds but that will take several weeks at best with uncertain result. I have now engaged a lawyer to recover my funds and to seek compensation. I have NEVER had to jump through so many hoops just to open a brokerage account. I’m glad I didn’t fund it along with my application, as I still don’t have a functioning account.

In Canada, self-directed investors have the good fortune of being able to choose from at least a dozen online brokers from which to trade stocks, mutual funds, and ETFs. Most of these brokers are Canadian-based, but at least one has its roots planted firmly south of the border. In this Interactive Brokers Canada Review, I’ll give you everything you need to know about this online trading giant and let you know how they compare to leading Canadian firms like Questrade. The bottom line is that it is most suited to professional day traders & options traders, so if that’s you, Interactive Brokers makes a lot of sense. The low margin rates and currency exchange options make the brokerage an interesting option for those investors interested in using those semi-exotic tools.

Interactive Brokers launches overnight trading hours, almost 24/5 in … – FinanceFeeds

Interactive Brokers launches overnight trading hours, almost 24/5 in ….

Posted: Mon, 21 Nov 2022 08:00:00 GMT [source]

Using a credit card to deposit gives you instant to your funds to trade with, compared to having to wait days with a bank transfer, online bill payment, or wire transfer. However, some credit cards may charge a cash advance fee for such deposits. While I’m not the writer of this article and I didn’t ask them, I can think of a number of reasons Interactive Brokers didn’t make the list off the top of my head. I would say though that the major knock against them is the cost.

This is a perk for smaller interactive brokers forex review since a $100 annual fee on a smaller account (say $10,000) is equal to a 1% fee – which essentially negates any savings you’d accrue by going the DIY route. Interactive Brokers gets the edge on pricing, with a minimum trading fee of $1.00, versus the Questrade minimum of $4.95. Questrade, on the other hand, offers commission-free ETFs, which is one of the reasons they are our top-rated brokerage. IBKR offers free ETFs in the US, but only for select ETF brands.