T O P
JollyTackle8

IBKR…


MrHaphazard1

The concensus is ibkr, so I opened an ibkr account and will be funding it in thr coming days, thank you


buylowstacks

It’s works ok, I would describe as a traditional old clunky trading app and program but does the job ok until we can get Webull here would be great


bowzerrrr

I use ibkr, costs about $1 to trade an option https://www.interactivebrokers.ca/en/index.php?f=49623


wrought_proof

It's even cheaper than that. I recently sold 5 contracts and commission was $3.31, average 0.66 cents a contract.


Ceevu

I usually end up paying between a buck and a buck fiddy. It's so rare for me to get under $1 per contract.


Black_Raven__

Make sure you are on a tiered plan.


MrHaphazard1

Awesome, I just opened a ibkr account. Thank you


[deleted]

[удалено]


bowzerrrr

Tiered


Appropriate-Tax-983

Not Canadian, but I am pretty sure that you could use IBKR or Tastyworks


MrHaphazard1

I wish tastyworks was in canada


No-Double6047

Canadian here. Use IBKR for options. Lowest commissions for options.


MrHaphazard1

Thanks I opened an ibkr account


SakariFoxx

I switched to ibkr. Quest trade was bleeding me


Itom1IlI1IlI1IlI

IBKR, it's what I use. It's pretty common... cheap USD conversion, cheap commissions


junkyarddoggg

Like everyone else, Canadian and I just made the switch from Q to IB


SylvesterStyllStoned

IBKR is easily the best option for options trading in Canada. Only comparable would be TD thinkorswim but you need a large account to get the good pricing


Soft_Percentage_5546

I'm Canadian, was using questrade odte and would feel pressure to buy enough calls to push past the crazy fees. As fun as that was, I switched to ibrk last week and can now develop with the help of om on small positions sizes. About 1 to 1.40 per contract. Not as good as being American but ya. Youre gonna hate their platform. I urge you to use classic instead of mosaic and call customer service to help with your global configuration stuff. If you get someone from Chicago on the phone your set.. in my limited experience. If you have a big enough account or w.e then the upgraded qt package at .75 c an contract plus I think 6$ fee just to play the game, with enough contracts that becomes the cheaper option but I'm a ways from that Good luck!


Artisist

I’m curious about preferring classic over mosaic? Please elaborate! Do you also have issues with “blackouts” in various charts? Data simply missing? It’s been bugging me a fair bit lately.


Soft_Percentage_5546

Apparently a lot of the hot key configuration( not just keys but for example what happens when you click the ask or bid) only works on classic. Haven't had any black outs so far. I'm still learning it I got a confirmation wibdow trying to sell yesterday that told me my order was a certain percentage off the current price or something... Didn't read the whole thing... That was a first. With classic it's nice because instead of the order entry window you can just setup your account profile and add a call tab and a put tab drag a bunch of different ones down there and then just click on the ask to buy. If you go to edit- global configuration- hotkeys , you can set up automatic stop loss attached or change the quantity you buy or set like a ask+.02 cents or w.e you want. You can also click a transmit instantly box. Just make sure you hit apply on the hot key page. Anyways I'm still learning obviously but I was told some of the configuration doesn't work on mosaic


Artisist

Thanks for the answer, sounds interesting, especially if daytrading multiple instruments. Trying to flip from calls to puts for instance when scalping, this could make for better entries. Every second counts :)


throwaway923535

IBKR is the best. You can hold multiple currencies in the same account, so you can have your USD and CAD in the same account and they both contribute to your available margin.


YankeesTrader1991

Wow that's insane


NoMoreButtons

Another vote for IBKR. You cannot trade OM's system on Questrade with a small account, they will bleed you dry in fees. Look at every time OM hit a sub 5% win, all of those would pretty much be losses to you after fees.


wrought_proof

I'm Canadian and was on TD and QT until finding my home at IBKR. Yup the commissions are terrible at QT and TD when compared to IBKR, but even worse is the assignment fee. QT charges 25 bucks assignment!? what the actual fuck. IBKR doesn't have an assignment fee, its just a buy or sell transaction at normal commission price. Fuck QT. ​ Edit: Also, are you tired of how long Norbert's Gambit takes to exchange your currencies? IBKR currency conversion uses forex for spot currency conversion for 2 dollar fee. Better than Norbert's in both conversion rate and execution time.


MrHaphazard1

Thanks I've never used Narberth gambit I've just dealt with the conversation fee. Thanks for your input. I opened an ibkr tfsa and will be funding jt in the coming days.


cdizzzle604

I use questrade for options. It really isn't worth it for low cost stocks. Gotta do bigger unfortunately


doublex2troublesquad

How is TDA not available?


MrHaphazard1

Whats tda


doublex2troublesquad

Toronto Dominion Ameritrade I know they are in the process of merging with Charles Schwab, but seems like they should be available to you


wrought_proof

In Canada TDA is TD Direct and even more expensive than Questrade. OP go IBKR.


Few-Examination-8730

National bank brokerage has no commissions


steeleclipse2

I'm with TD Thinkorswim (in Canada) so believe me, I hear you on the fees. It has caused me to trade contracts with larger value (TSLA for example) so I buy less contracts, but look for the same return. Not sure if it would work, but can't you just buy a contract that is more expensive, but deeper ITM?


rice_n_salt

I thought TOS Canada was discontinued? I was trying to setup an account last month but hit a bunch of roadblocks and was told be a TD rep that they closed TOS Canada down. Are you able to see the chat rooms using TOS Canada?


steeleclipse2

I think they're not taking any new members. The software is great, but they are super strict about requirements, and kind of a pain in the ass. I got a question wrong on credit/debit spreads (they make you do a test to turn on option trading) and they blocked me from trading options for 6 months, only allowing me then to retest lol. The fees suck too. Never looked into the chat rooms.


rice_n_salt

6 months?!


steeleclipse2

Ridiculous


rice_n_salt

Have they mentioned anything to you about discontinuing the TOS platform? (Apparently, they have their own Advanced Trader platform now.)


steeleclipse2

I hope not. It's the only reason I'm with them. I'm sure there are other solid platforms out there, but man, ToS is a quality product.


steeleclipse2

Oh, and if their "advanced trader platform" is the absolute garbage I downloaded last month and played around for about 10 minutes, then if ToS goes away, TD and I are through.


rice_n_salt

It probably was that. Lol


Industrious_Monkey

Ibkr all day long


stuauchtrus

If you're just trading SPY, consider looking into trading the ES futures with a futures platform. The ES prints the same as SPY. I'm in the US and use Ninja Trader. Margin for intra day $50 a point ES contract is $500. There's also the micro ES contract, aka MES, that is $5 per point if you don't need as much leverage. I pay around $2 per contract in commissions. I'd imagine rates would be similar in Canada.


lowercase00

I think TDAmeritrade (ThinkorSwim) can also be an option, just as Tastyworks, I’m not Canadian, but I’m far away from the US and was able to open just fine


rustynail2x

Agreed, IB, questrade is s h i t


TrulyGoodKarma

Interactive brokers, or NBDB or Desjardins but nbdb and desj. Have minimum 6.25 and 8.25 fees but still if trading 5 or more contracts it’s ok and if trading a lot of contracts that are valued under $2000 aka you buying lots of spy 0dte options fees are capped at 19.95 I believe


GabbarWpg

If the only way of trading options you know is Questrade, you should not be trading yet. Seriously.


MrHaphazard1

I went to ibkr.


1SHORTFRY

Let me google that for you... https://www.wealthrocket.com/investing/best-options-trading-platforms-canada/