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The Marty Lounge>Investing megathread extravaganza
DaFace 11:23 AM 06-27-2016
A place to talk about investing stuff.
[Reply]
CanadianChiefs 07:06 PM 07-08-2016
Originally Posted by notorious:
Why do you like Questrade?
I like it because I'm Canadian and big banks gouge the crap out of me. I used to be with TD and pay $10 per trade, now I pay $4.99 with Questrade.

TD bank did not offer aftermarket/premarket trading without literally having to call them or having a 25k balance in your account/ 300$ a month data package or something. It was annoying because most news is released after 4pm.

Questrade has a better layout, better price on options for me (rarely trade them but it's nice). And they have a data package with real times quotes for Nasdaq, TSX, etc for like $20 a month or free with I think $49.95 commission, so 10 trades a month and it's free.

Their customer support is amazing, they offer a live chat which really helps. Withdrawing money is simple, as is funding. Just direct deposit and you're set.

EDIT: With Questrade I can trade OTC as well, TD and some other large institutions make it harder than it should be, especially trading smaller cap-companies.

Another MASSIVE plus for Questrade is that if Canadian, you can use your tax-free savings account to trade but you can hold Canadian AND American dollars in it. This let me settle trades in american dollars. With TD you could trade in US dollars but the trade would settle in Canadian and I would have to exchange it again. This let TD take a bite out of my money with their commission on every exchange. If I gained 3% on a trade I would lose it on the exchange. It wasn't worth it.
[Reply]
notorious 07:10 PM 07-08-2016
Okay, I was looking at Scottrade but I will check out Questrade before making a final decision.
[Reply]
CanadianChiefs 07:12 PM 07-08-2016
All Canadians, don't know if many of you are Canadian here, but eh, guy, you should invest and trade stocks with a TFSA. No taxes on gains, no write offs on losses though. There are contribution limits like 10k per year but it accumulates every year since you turn 18 or when the TFSA was introduces (2010 ishh??).

So yeah, being able to hold both CAD and USD in my TFSA at the same time is amazing.
[Reply]
CanadianChiefs 07:14 PM 07-08-2016
Originally Posted by notorious:
Okay, I was looking at Scottrade but I will check out Questrade before making a final decision.
Keep in mind that you may not be in Canada but a lot of what I said applies to the US questrade too. It may even be better.

There more legit options in the US than Canada but yeah, just research it.
[Reply]
Rain Man 07:30 PM 07-08-2016
Originally Posted by Hog Farmer:
I looked the other day and (x) US Steel was at $17 I believe. When I was pondering I think it had gotten down to $8. I should have borrowed $8,000,000and jumped in. Would have made a cool 9 mil.
I should listen to you more often.
[Reply]
lewdog 07:52 PM 07-08-2016
Originally Posted by CanadianChiefs:
I like it because I'm Canadian and big banks gouge the crap out of me. I used to be with TD and pay $10 per trade, now I pay $4.99 with Questrade.

TD bank did not offer aftermarket/premarket trading without literally having to call them or having a 25k balance in your account/ 300$ a month data package or something. It was annoying because most news is released after 4pm.

Questrade has a better layout, better price on options for me (rarely trade them but it's nice). And they have a data package with real times quotes for Nasdaq, TSX, etc for like $20 a month or free with I think $49.95 commission, so 10 trades a month and it's free.

Their customer support is amazing, they offer a live chat which really helps. Withdrawing money is simple, as is funding. Just direct deposit and you're set.

EDIT: With Questrade I can trade OTC as well, TD and some other large institutions make it harder than it should be, especially trading smaller cap-companies.

Another MASSIVE plus for Questrade is that if Canadian, you can use your tax-free savings account to trade but you can hold Canadian AND American dollars in it. This let me settle trades in american dollars. With TD you could trade in US dollars but the trade would settle in Canadian and I would have to exchange it again. This let TD take a bite out of my money with their commission on every exchange. If I gained 3% on a trade I would lose it on the exchange. It wasn't worth it.
Did you ever look at Trade King? The attraction to TD is their commission free ETFs.


Great info too. I just liked Stock Twits on Facebook so I can follow them now. Thanks.
[Reply]
Titty Meat 08:01 PM 07-08-2016
What if you don't make shit?
[Reply]
LoneWolf 08:07 PM 07-08-2016
Originally Posted by BigMeatballBillay:
What if you don't make shit?
Stop wasting your time on CP and get a better job.
[Reply]
lewdog 08:09 PM 07-08-2016
Originally Posted by BigMeatballBillay:
What if you don't make shit?
You should be building an emergency fund then and setting aside even small amounts if your employer offers any retirement funds.

Then you work on bettering yourself and working on job prospects to start making more or switch careers to something with more of an increased career ladder.
[Reply]
ChiTown 08:12 PM 07-08-2016
Originally Posted by BigMeatballBillay:
What if you don't make shit?
Start working harder
[Reply]
Hog's Gone Fishin 07:27 AM 07-09-2016
Looking at (NVDA). Very,Very intriguing ! Would be interested in a Rainman analysis.
[Reply]
Inspector 08:36 AM 07-09-2016
I retired in 2012.

Live below your means. Avoid debt. Invest long term. And if you don't consider yourself a financial wizard (and I'm certainly not) consider using an adviser who acts as a fiduciary.

Retirement is awesome. I strongly recommend it as soon as you can. Especially if you have a large family. Just make sure you are financially prepared.

Time passes quickly when you're alive.
[Reply]
Demonpenz 11:16 AM 07-09-2016

[Reply]
LoneWolf 12:29 PM 07-09-2016
Originally Posted by Demonpenz:
:-)
[Reply]
scho63 01:07 PM 07-09-2016
Originally Posted by notorious:
Okay, I was looking at Scottrade but I will check out Questrade before making a final decision.
:-)

I have had my Scottrade account since 2009 and I love it.

- They refund ALL my ATM fees no matter what the cost
- The second I use my debit card, the transaction shows in my account with great detail
- They just lowered the price of their options trading
- Competitive price for trades
- My direct deposit paycheck comes into my account the NIGHT before payday without fail between 9:45 and 10:10 pm for the last 7 years
- Live quotes
- Easy to use
- $2,500 debit limit per day and $500 ATM per day for a $3,000 total
- You can call and ask for a one time limit increase and they grant it 99% of the time up to $5,000
- Good research tools
- Unlimited transfers back and forth from your Scottrade bank account to your Scottrade brokerage account
- You can export all your transactions
- Local branches take in deposits (no cash of course)

Overall there is really nothing more I personally need. I like it quite a bit and they have many other tools to take advantage of.
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