We recently moved our funds from E-Trade to Scottrade. I’m no broker or anything, but quite honestly they are pretty much the same. The big difference is the commission. E-Trade takes $12.99 per trade and Scottrade takes $7.
Do the math, make 10 trades in one day and you’re going to save $60. That’s a lot of cheap stocks you could buy, or one or two mid-size shares.
I don’t know how E-Trade can afford to let Scottrade undercut them by that much, but I’m happy with the move.
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I’m unwilling to move my money to the South, but you clearly know something I don’t. What convinced you to ditch ETrade Canada for Scottrade US, beyond trade fees?
How much of a hassle is it for Canadians to use Scottrade (or their competitors)?
Thanks, am enjoying the story, thinking of a smarter than last time move into the market (after being burnt like so many other people) and looking forward to your Italy posts (sorry, have never been, so can’t give travel insights but my choice, if I’d scored in the markets, would be Amalfi coast)…
That’s exactly why I moved our money to Scottrade. The tools are virtually the same, but Scottrade is cheaper, that seemed like a no-brainer to me. The U.S. vs. Canada thing never crossed my mind. I love our friends up north. A family fund could be a great way for you to get back into the market. My 401(k) took a hit during the collapse 18 months ago, but I’m staying aggressive. Let me know if you have any other questions.