Tipos de investimento.
Existem tantas maneiras diferentes.
para investir no seu futuro financeiro.
Construa o portfólio que você quer, não importa o tipo de investidor que você é.
Investimento Sustentável da Scotia iTRADE.
Descubra as primeiras ferramentas de investimento sustentável do Canadá para investidores diretos que ajudam você a combinar seus investimentos financeiros com impacto social positivo.
Escolha entre uma ampla variedade de ações listadas nas principais bolsas norte-americanas.
Tire proveito de uma negociação on-line, sem comissão, de 50 fundos negociados em bolsa da iShares ® e de outros importantes prestadores canadenses de ETF 2.
Fundos mútuos.
Invista em mais de 3.500 fundos mútuos, incluindo fundos da Série D projetados especificamente para clientes de investimento direto.
Desfrute de preços transparentes, com comissão, de um bônus de US $ 1 por bônus em milhares de produtos canadenses e de renda fixa dos EUA.
Novos problemas.
Obtenha acesso a centenas de ofertas de Novas edições que abrangem vários setores da indústria.
Escolha entre um grande estoque de opções de investimento seguras e flexíveis do Scotiabank e de terceiros.
Desfrute de ferramentas avançadas e preços competitivos para aproveitar ao máximo sua experiência de negociação de opções.
A Scotia iTRADE ® (Contas Exclusivas de Pedido) é uma divisão da Scotia Capital Inc. ("SCI"). A SCI é membro da Organização Reguladora da Indústria do Investimento do Canadá e do Canadian Investor Protection Fund. A Scotia iTRADE não fornece conselhos ou recomendações de investimento e os investidores são responsáveis ​​por suas próprias decisões de investimento. ® Marca registrada do The Bank of Nova Scotia, usada sob licença.
O uso do site Scotra iTRADE significa que você concorda com os Termos de Uso da "The Fine Print" e nossa Política de Privacidade. Visite o site da Scotia iTRADE para obter informações sobre os Contratos de Dados em Tempo Real e nossos Procedimentos de Tratamento de Reclamações.

Existe um comerciante.
Scotia iTRADE U pode ajudá-lo a encontrar o seu.
Recursos e dicas de autoajuda para gerenciar com confiança seus investimentos.
Como faço para… com o Scotra iTRADE?
NOVO: Explore nossos recursos on-line e guias passo a passo para ajudar você a gerenciar seus investimentos por conta própria.
Contas Práticas.
Experimente investir online sem risco. Construa suas habilidades de investimento e teste nossas plataformas de negociação sem usar dinheiro real.
Descubra nossos mais recentes aprimoramentos, ferramentas e recursos para ajudá-lo a negociar com confiança.
Novos clientes
Preços competitivos.
Experimente negociar com uma das estruturas de comissão mais baixas do setor.
Escolha de plataformas de negociação de alta potência.
Gerencie seus investimentos do seu computador ou dispositivo móvel.
Ferramentas e Pesquisa.
Recursos de analistas, análise técnica e idéias de investimento estão disponíveis ao seu alcance para capacitá-lo a investir diretamente.
Clientes Existentes.
Obtenha o suporte quando precisar.
Tem dúvidas sobre nossos honorários e comissões, transferência de fundos ou apenas nossos produtos e serviços em geral?
Scotia iTRADE iClub.
Descubra como a adesão recompensadora pode ser. Nossos investidores mais engajados desfrutam de uma série de benefícios complementares.
Preços de lealdade.
Os clientes do Scotiabank podem receber taxas de negociação mais baixas com o Scotra iTRADE.
Quer ser uma estrela do rock? O conhecimento não acontece apenas. Faça acontecer.
Com cursos gratuitos de investimento direto disponíveis com o Scotia iTRADE U, deixe-nos ensinar uma coisa ou duas para você começar, ajudá-lo a aprender mais ou simplesmente ajudá-lo a aprimorar suas habilidades.
Por que Scotia iTRADE?
Algumas ótimas razões para se juntar à Scotia iTRADE hoje.
A Scotia iTRADE é uma corretora de desconto com classificação máxima que oferece comissões de baixo custo e tecnologias inovadoras para qualquer nível de investidor. Contacte-nos hoje e descubra como podemos fornecer soluções de negociação para todas as suas necessidades de negociação!
Existem muitas maneiras diferentes de investir no seu futuro financeiro. Construa o portfólio que você quer, não importa o tipo de investidor que você é.
Atinja seus objetivos de investimento com vários tipos de conta.
Independentemente do que você está investindo, o Scotra iTRADE oferece um tipo de conta que atenderá às suas expectativas e às vezes excederá suas expectativas.
Oferecemos proteção abrangente contra fraudes para ajudar a proteger suas contas, incluindo proteção contra fraudes, transferências e privacidade.

Scotia iTrade US $ - Amigo RRSP.
A Scotia iTrade anunciou que acabou de se juntar à festa do US $ RRSP. Eles estão um pouco atrasados ​​considerando que a Questrade foi a primeira corretora a oferecer US $ RRSP há três anos e a RBC Direct e a Qtrade também ofereceram uma conta de US $ RRSP por algum tempo.
Com amigos assim, quem precisa de inimigos? Anônimo.
Eles estão oferecendo um "RRSP" amigável aos EUA, que é um programa especial para oferecer uma melhor taxa de câmbio para investidores que vendem e compram títulos em US $ na sua conta do iTrade. Esse recurso é opcional e custa US $ 30 por trimestre, o que obviamente equivale a US $ 120 por ano.
Por que você quer um US $ RRSP?
Tradicionalmente, todas as contas RRSP liquidaram todos os seus negócios em dólares canadenses. O problema é que, se você vender uma garantia em US $, você terá que pagar uma taxa de conversão quando os recursos forem convertidos em dólares canadenses. Esta taxa pode ser bastante significativa.
Se você gostaria de comparar as diferentes taxas de câmbio oferecidas por todas as corretoras de desconto canadenses, confira a comparação de corretagem de desconto canadense.
Se você quiser comprar outro título em US $, o dinheiro será convertido para US $ novamente e outra taxa de conversão será cobrada. Fazendo isso ida e volta & # 8221; pode facilmente custar 3 ou 4%, o que é um obstáculo significativo para o desempenho do seu investimento.
A corretora de desconto Questrade criou a primeira conta de US $ RRSP do Canadá, na qual você pode escolher a moeda de liquidação e evitar todas as taxas de câmbio se estiver vendendo e comprando US $ em ações. Você ainda tem que pagar taxas de câmbio para novas contribuições em dólares canadenses, mas uma vez que o dinheiro é convertido para US $, ele permanece em US $ e não há taxas de câmbio. Eles também aceitam contribuições em US $ e nenhuma conversão é necessária.
Scotia iTrade US $ RRSP ainda cobra taxas de câmbio.
De acordo com o site da Scotia, se você vender um estoque de US $ ou ETF & # 8211; uma taxa de conversão de moeda Scotia Capital (taxa SCI) ainda será cobrada. Telefonei para a Escócia e um representante me disse que essa taxa seria de cerca de 0,5%.
Isso significa que, se você vender um estoque em US $ e usar os recursos para comprar outro estoque em US $, seu custo total de conversão será de aproximadamente 1,0%.
A taxa de câmbio regular do Scotia iTrade é de 1,5% a 2,0%, que é uma das mais altas do Canadá. A taxa exata depende do tamanho da transação.
Sob as taxas regulares de Scotia, um investidor que vende e compra um título de US $ pagará uma taxa de conversão de 3% a 4%. Com o novo & # 8220; amigável & # 8221; programa, esse mesmo investidor pagaria uma taxa de conversão de 1%.
Uma taxa de conversão de 1% é muito superior a uma taxa de câmbio de 3% a 4%. Em uma compra e venda de US $ 25.000, um investidor economizaria entre US $ 750 e US $ 1.000, dependendo da taxa de câmbio exata. Sim, as taxas de câmbio são tão altas.
O Scotia iTrade é um bom negócio?
Este programa é um bom negócio se um investidor satisfizer as seguintes condições:
Já é cliente da iTrade & # 8211; Esse recurso certamente não vale a pena mudar para o iTrade. Se você está atualmente pagando muito dinheiro em seu RRSP para conversões de moeda, você deve procurar por Questrade, RBC Direct ou Qtrade para economizar dinheiro. A economia de uma taxa de câmbio menor em US $ sell / buys é maior que US $ 120 por ano & # 8211; Mesmo se você é um investidor do iTrade & # 8211; Verifique se você está pagando taxas de conversão suficientes para fazer o programa valer a pena. Se você comprar apenas ações com base no Canadá, este programa não lhe poupará dinheiro. Note-se que a segurança tem que realmente negociar em uma troca de US $ para conversão de moeda para ser relevante. Se você possui um ETF baseado no Canadá, como o iShares XSP S & P Index ETF & # 8211; isso é negociado em dólares canadenses, embora seja baseado em um índice de ações dos EUA.
Se você gostaria de comparar as diferentes taxas de câmbio oferecidas por todas as corretoras de desconto canadenses, confira a comparação de corretagem de desconto canadense.
Quer saber mais sobre os RESPs? Compre o livro:
O Livro RESP: O Guia Simples para Planos de Poupança Registrados para Educação.
Tudo o que você precisa saber sobre RESPs.
Eu estou com um pouco de dificuldade tentando obter informações dos representantes do iTrade sobre o RRSP amigável aos EUA. Foi-me dito que a taxa de CSI usada para fazer uma conversão de moeda em um pedido de $ 5K a $ 25K tem uma margem de lucro de 1,65% para comprar ou vender & # 8212; para um custo de ida e volta de 3,3%. Um segundo representante disse a mesma coisa. No entanto, o representante que você falou disse que a comissão foi de 0,5% de uma maneira & # 8212; ou 1% total? Eu estou sentindo falta de algo? E parece que eles aplicam o maior spread de varejo ao converter o dinheiro canadense de volta para o dólar americano? Por que eles fazem essas coisas tão complicadas?
Quanto à minha pergunta sobre um spread de varejo sendo cobrado, eu tenho um esclarecimento (depois de cutucar um pouco mais). É cobrado na conversão para C $ de & # 8220; US. dólares depositados nessas contas (incluindo dividendos e juros denominados em dólar americano). & # 8221;
Larry, o cenário que eu discuti com o representante foi onde um investidor se inscreveu para o "amigável" # 8221; conta e está convertendo US $ que já estão na conta (ou seja, a conversão inicial já foi paga) para dólares canadenses (porque eles venderam sua segurança US $) e depois de volta para US $ quando comprarem outra segurança US $.
O spread regular de varejo (1,65%) é aplicado apenas para dinheiro novo na conta & # 8211; ou seja, se você contribuir com dólares canadenses e quiser converter para US $.
Pelo que você está dizendo, talvez eles não aceitem contribuições em US $?
Esta conta é confusa porque não é um RRSP real, o que torna isso mais complicado.
Alguma idéia se o iTrade ainda lavará negócios pelo telefone ou será necessário usar este novo serviço?
Obrigado por este post Mike, ótimo material para saber.
@Fernando & # 8211; Eu não sei. Eu imagino que você ainda seria capaz, mas talvez um telefonema confirme.
@O meu próprio consultor & # 8211; obrigado.
Uma das expressões favoritas do meu pai é "um dia de atraso e um dólar a menos". # 8221;
Parece que isso se encaixa no projeto Scotia.
Eu tive meus títulos denominados nos EUA em um RRSP Investimento Direto RBC sem problemas reais (havia alguns bugs iniciais com valor contábil, mas isso foi resolvido com um simples telefonema) desde que eles começaram a oferecer essa opção em maio passado. Não há taxa para isso; está automaticamente lá.
Surpreende-me que o TD já não o tenha feito. O que é tão difícil de implementar quando parece que quase todo mundo está oferecendo isso?
@Myke & # 8211; Eu concordo com você.
Eu dou crédito à Scotia por instituir um método para alguns de seus clientes atuais economizarem dinheiro. Além disso, tenho certeza de que muitos funcionários da Scotia trabalharam muito para fazer essa mudança acontecer.
Obrigado por tomar o tempo para nos discutir.
Gostaria de aproveitar esta oportunidade para responder a algumas das perguntas sobre essa oferta.
O tratamento FX em uma conta registrada regular é baseado em uma taxa spot (taxa de referência entre revendedores na qual as tarifas de varejo são baseadas), e um spread de varejo que pode variar, dependendo de:
& # 8211; o tamanho da transação,
& # 8211; se a transação é em dinheiro ou com base em valores mobiliários,
& # 8211; se a moeda a ser comprada ou vendida,
& # 8211; e condições de mercado prevalecentes.
Os clientes inscritos no RRSP Amigável dos EUA não estarão sujeitos a um spread de varejo sobre as conversões de câmbio para ações nos EUA, opções e fundos mútuos executados na conta, e uma Taxa SCI de médio porte será aplicada às negociações executadas. [FYI & # 8211; 18/01/2011 valor: USD / CAD 0.9924 (CAD / USD 1.0077)]
No entanto, transações em dinheiro na conta envolvendo a conversão para dólares canadenses de dólares americanos depositados na conta (incluindo dividendos e juros expressos em dólares americanos) estarão sujeitas ao spread cambial de varejo aplicável cobrado pela Scotia iTRADE naquele momento. Os amigos dos EUA podem ser ativados em quaisquer contas registradas novas e existentes, incluindo as da TFSA. Não é obrigatório e os clientes podem continuar a desfrutar da nossa conta "Nenhuma taxa anual, sem saldo mínimo RRSP" com a Scotia iTRADE.
@Fernando: As negociações de lavagem não estarão mais disponíveis pelo telefone.
Sinta-se à vontade para me enviar um e-mail diretamente [nabil @ scotiaitrade] ou entre em contato com nossa Equipe de Atendimento ao Cliente [1.888.872.3388] se tiver alguma dúvida. Espero que esta informação ajude.
120 $ por ano é uma taxa que eu não estou disposto a pagar quando posso obter a mesma plataforma com os mesmos sinos e assobiar em outro lugar sem taxas.
Eu estava esperando ansiosamente por isso "# 8230; muito infeliz.
Eu postei isso no capitalista canadense há alguns dias, antes de saber que o spread era de 50 pontos-base. Meus pontos continuam os mesmos, e não vejo mais razão para ficar com o iTrade, já que não posso mais fazer lavagens:
Gastei um pouco de tempo com o atendimento ao cliente, então aqui está uma atualização sobre a conta do iTrade, que não agrega o uso do USRade. Basicamente, vou procurar transferir tudo para o RBC / Questtrade agora.
CONTAS REGISTRADAS NÃO MAIS APOIOS COMERCIAIS DE LAVAGEM.
Embora ainda existam algumas formas de taxas FOREX, isso torna sua vida significativamente mais difícil. Suponha que esta seja sua conta do TFSA:
Cenário 1: você está segurando ações norte-americanas que deseja vender para comprar outras ações dos EUA no mesmo dia.
Método antigo: vender nos EUA, comprar nos EUA, ligar no dia seguinte para o comércio de lavagem. CUSTO: 2 comissões.
Novo método: inscreva-se em uma conta amigável nos EUA e espere até que ela seja ativada. Em seguida, você vende e compra os EUA no mesmo dia. Em seguida, cancele a conta dos EUA antes do final do trimestre. CUSTO: 2 comissões + US $ 30 + menor taxa de spread (vamos supor que não há spread)
Comentário: você ainda não pode estacionar o USD em dinheiro, mas no RBC você pode (alguém pode confirmar isso?).
Cenário 2: você acabou de contribuir com dinheiro em CAD para o seu TFSA e quer comprar uma ação nos EUA (mas quer evitar o FOREX)
Método antigo: comprar estoque inter-relacionado CAD, chamada para transferência inter-horário TSX - & gt; NYSE (normalmente leva menos de 2 minutos), vende na NYSE, compra ações nos EUA no mesmo dia e, em seguida, liga para o comércio de lavagem. CUSTO: 3 comissões (na minha experiência, isso economizará cerca de US $ 150 em taxas FOREX se você estiver comprando US $ 5.000, lembre-se, o spread do iTrade é o maior dentre os bancos, com 2%).
Novo método A: semelhante ao acima, você se registra em uma conta amigável nos EUA, espera até que seja ativado, faça sua negociação e cancele a conta antes do final do trimestre. CUSTO: 1 taxa de comissão + $ 30.
Novo método B (melhor método): contribua para o seu TFSA em espécie. Ligue para um representante de serviço, e você pode obter a sua taxa de FOREX de ontem (não sujeita a qualquer spread), então você pode negociar a que preço você quer contribuir (preço de fechamento de ontem, preço mais baixo, preço mais alto, etc), então o representante irá calcular quantos compartilhamentos você pode transferir sem excesso de contribuição.
P. Mesmo que eu abra uma conta amigável aos EUA, como saberei qual será a taxa do FOREX?
A. você não. O representante me informou que a taxa é postada no final do dia e, embora eu não conseguisse uma resposta firme sobre o spread, ele me disse que seria significativamente menos de 2%. De qualquer maneira, ele disse, já que a disseminação é incerta, "eu deixaria uma redução de 2% apenas no caso, então não compre mais ações".
Resumindo: Eu sei que algumas das manobras acima não são para todos (especialmente o cenário 2), mas pelo menos eu sabia, até o último centavo quanto dinheiro eu poderia trabalhar e eu poderia fazer isso a qualquer momento. Agora, eu tenho que esperar para registrar uma nova conta, ainda pagar alguns FOREX (mesmo com uma taxa preferencial) e ainda não saber exatamente o que é essa taxa em tempo real, então ter que cancelar essa conta, e custa mais do que o meu antigo método (ok, eu realmente não me importo em pagar $ 20- $ 30 mais tbh). MAS É UMA MANEIRA CLUKY DE COMÉRCIO, e isso vem de alguém que raramente vende e só faz algumas compras por ano para equilibrar meu portfólio.
Desculpe pelo longo post. Mas para aqueles de vocês com RBC / Questtrade, como você gosta? Existe alguma coisa que eu deveria estar ciente de que tornar as coisas "chatas", bc de onde estou sentado, não há razão para eu não mudar para qualquer um deles.

Scotia iTrade.
Scotia iTRADE para iPad.
Scotia iTRADE Trading Desk.
Corretores de Forex recomendados.
Taxas ao vivo.
Calendário Econômico.
Academia de Forex.
Disclaimer Pode haver um alto grau de risco na negociação de divisas estrangeiras e, apenas por este motivo, alguns investidores podem decidir que não é adequado para eles. Há um grau considerável de alavancagem envolvida que, embora possa funcionar a seu favor, também pode funcionar contra você. Você deve tomar nota cuidadosa do seu nível de experiência, seu propósito de investir e quanto risco você está preparado para aceitar. É sempre possível que você perca uma parte, ou mesmo tudo, ou seu investimento inicial, e consequentemente você nunca deve investir dinheiro que não possa perder. Isso se aplica a qualquer forma de investimento. Existem certos riscos associados à negociação de câmbio, e se você tiver alguma dúvida, você deve seguir o conselho de um consultor financeiro independente.
Quaisquer opiniões oferecidas no FXHQ são as opiniões de autores individuais, e elas não necessariamente concordam com as opiniões da FXHQ ou da gerência da empresa. Erros e omissões podem ocorrer em declarações feitas por, ou opiniões expressas por autores individuais, e você deve notar que a FXHQ não verifica e não verificou a exatidão ou não de tais opiniões ou declarações. O FXHQ não oferece consultoria de investimento e, consequentemente, qualquer informação contida neste site, incluindo notícias, opiniões, preços, pesquisas e análises, é oferecida como um comentário sobre o mercado, e não constitui um conselho de investimento específico, seja oferecido pela FXHQ, seja por funcionários. , parceiros, autores ou outros colaboradores. Ao considerar qualquer investimento, você deve sempre fazer sua própria diligência. A FXHQ, seus funcionários, parceiros, autores ou colaboradores, não aceitam e não aceitarão qualquer responsabilidade por qualquer perda ou dano incorrido por você por quaisquer decisões de investimento que você possa tomar com o uso de qualquer informação fornecida. Isso inclui qualquer perda de lucro, sem limitação.
& copy; 2015 "FXHQ INC. FOREX HeadQuarters" Todos os direitos reservados.

Scotia iTrade comentário.
Quando o Scotiabank adquiriu o braço de corretagem canadense da E * Trade, a conta que eu havia aberto com a E * Trade para minha participação no Plano de Compra de Ações do meu empregador foi automaticamente convertida em uma conta Scotia iTrade. O site permanece praticamente o mesmo de E * Trade, exceto por algumas marcas na cor vermelha Scotia e adição de relatórios de pesquisa da Scotia Capital. Como a Scotia iTrade está cortando links com a E * Trade, eu pensei em escrever um comentário enquanto ainda tenho uma conta com eles.
Taxas de administração e comissões.
A maior atração da Scotia iTrade são as baixas taxas, que são mais baixas do que as dos corretores de grandes bancos, mas maiores do que as de corretoras de baixo custo, como a Questrade (Veja: Questrade Review) para contas de tamanho modesto. Não há taxa de administração em contas registradas, como RRSP, RESP ou TFSA, mas atente para a taxa bastante baixa de baixa atividade de US $ 50 por trimestre cobrada das contas tributáveis.
Os investidores que procuram um corretor de desconto competente descobrirão que a estrutura de comissões do iTrade é o meio do pacote. O iTrade cobra uma comissão de US $ 19,99 pela maioria dos negócios, mas as contas domésticas que totalizam mais de US $ 50.000 se qualificam para negociações que custam US $ 9,99.
Os clientes podem aproveitar a facilidade de Transferência Eletrônica de Fundos (EFT) gratuita para movimentar fundos entre sua conta bancária em dólares canadenses ou americanos e a conta Scotia iTrade. Note que não há integração ou ligação direta entre o Scotia iTrade e as contas do Scotia Bank ainda.
Enquanto a conta do Cash Optimizer paga uma taxa competitiva e pode ser usada para estacionar dinheiro temporariamente de contas tributáveis, não há lugar para estacionar o dinheiro em contas registradas. Scotia iTrade oferece fundos mútuos, mas todos os fundos detidos por menos de 90 dias são cobrados uma multa de 1%.
Taxas de Conversão de Moeda.
As taxas de câmbio em Scotia iTrade são bastante íngremes. Em um telefonema de hoje, eu fui cotado com uma taxa de compra de 1,0665 dólares e uma taxa de venda de 1,1055 para um spread de 3,6%, o que é quase o dobro das taxas típicas. Felizmente, o iTrade manteve a capacidade de negociação de lavagem introduzida pela E * Trade (Veja: E * Trade Quietly Offers Limited Wash Trades).
Certificados de rendimento garantidos.
Enquanto os GICs estão disponíveis, os clientes precisam entrar em contato para comprar ou solicitar cotações. As taxas em GICs parecem ser competitivas.
Uma verificação superficial mostra que o iTrade tem um estoque decente de títulos. O preço parece ser um pouco melhor do que o RBC Direct Investing, nossa principal corretora. Por exemplo, um bônus do governo do Canadá de 5%, com vencimento em 01 de junho de 2014, rende 2.606% no iTrade e 2.512% no RBC Direct.
O iTrade oferece mais de 3.200 fundos mútuos de todos os principais fornecedores. Não há comissões para comprar ou vender.
A Scotia iTrade não é meu principal corretor, mas eu uso a E * Trade há muitos anos e descobri que ela é uma corretora competente. Bank of Nova Scotia até agora manteve E * Trade como está com apenas pequenas alterações & # 8212; um toque de vermelho na página da web e a adição de relatórios de analistas da Scotia Capital vêm à mente. Os investidores que ainda não se qualificam para baixas comissões nas corretoras dos grandes bancos provavelmente encontrarão o iTrade no topo ou perto de sua lista. Se você é um cliente iTrade, eu adoraria ouvir sua opinião na seção de comentários.
Este artigo tem 121 comentários.
Eu sou um usuário do ITrade. Eu sou novo para DIY e eu não usei outros sites, então não tenho comparação. Transferi todas as contas registradas, inclusive uma LIRA, e agradeço por ter todas as contas registradas em um só lugar e não ter taxas. Meus negócios são US $ 9,99. Eu encontrei o Serviço de Custos disposto mas não bem treinado. Estaria interessado em seus comentários sobre inventário de títulos e preços? A transferência de dinheiro é fácil e o site é útil em geral.
Eu uso TradeFreedom, que também está sendo re-branded como Scotia iTrade. Até agora, as únicas diferenças que eu notei (em comparação com o antigo TradeFreedom) são: 1) carta de correio agora tem o nome Scotia iTrade, e 2) fui convidado a alterar o beneficiário de transferências eletrônicas e foi atribuído um novo cliente número.
Caso contrário, eu não notei quaisquer alterações no serviço, no site ou nas comissões cobradas. Eu ainda pago US $ 9,95 por negociação sem saldo mínimo de conta, e não recebi nenhuma informação sobre uma "taxa de baixa atividade" # 8221 ;. Espero não ter perdido no correio!
Scotia estão agora tirando os etrade. ca chaves RSA & # 8230; & # 8230 ;.Estes golpes.
Eu gostaria de fazer eco à pergunta de Dale McSween sobre seus títulos. Como é o seu inventário e (ouso sonhar?) Eles tornam mais transparentes as suas comissões sobre as vendas de títulos? Eu prefiro não gostar da prática de & quot; baking em & # 8221; as comissões no preço, mas também percebo que a prática é predominante na indústria. Isso só me faz sentir mal depois que eu compro um vínculo e então eu vejo o valor de face dele "# 8211; se eu fosse vendê-lo de volta. Isso me faz sentir como se eu estivesse realmente encharcado com as comissões.
Parece uma dor tão grande para comprar GICs no iTrade com o método de telefone. Ugh & # 8230;
Três coisas que eu não gosto sobre a Scotia Itrade (eu tenho a maior parte do meu patrimônio líquido nas contas da Scotia Itrade):
1. Eles não me deixam enviar faxes para o escritório quando eu quiser alterar ou atualizar as coisas em minhas contas. Eles ainda insistem em cartas para a maioria das coisas.
2. Sua equipe é mal treinada e muito ruim em explicar como as coisas funcionam (ou seja, eu solicitei colocar opção vendendo 4 vezes e liguei 8 vezes antes que eles me disseram por que eu estava sendo recusado).
3. Eles aumentaram drasticamente suas taxas de empréstimo de margem, levando-me a rever minha estratégia de gerenciamento de risco e meus spreads de arbitragem e tirar radicalmente minhas posições, gerando ganhos de capital que eu necessariamente não quero.
Estou no eTrade / ScotiaTrade há cerca de 5 anos. Até agora eu os achei ótimos para as minhas necessidades. Sua ajuda por telefone definitivamente está faltando, mas eu não precisei muito disso. Quando o mercado estava em chamas, em 2002-2007, eu estava negociando pesadamente e, assim, minhas comissões foram fixadas em US $ 6,99. Desde que o mercado explodiu, eu tenho negociado de forma leve (e eu mudei para uma estratégia de investimento passiva), mas eles não perceberam ou não se importaram e meus honorários permaneceram mesmo. Isso faz com que o rebalanceamento de cada trimestre seja extremamente barato! Nenhuma outra queixa principal ou elogios para eles.
Eu também tenho uma conta porque foi aberta em meu nome pelo meu empregador. Minha principal conta de negociação é a TD Waterhouse. Acho ITrade um pouco confuso para se locomover em comparação, mas eu gosto da opção de transferência eletrônica de fundos. Eu só mantenho o estoque da minha empresa com o Itrade e vou ficar com o TD.
Para os fundos mútuos, há taxas para comprar neles e eles são limitados apenas a fundos da Escócia ou eu posso obter fundos de qualquer lugar.
Eu usei Tradefreedom por um tempo, mas eles tinham uma taxa de US $ 35 cada vez que você comprou em um fundo mútuo. Isso ainda está aí?
Eu fechei minha conta Itrade no início deste mês precisamente por causa das altas taxas de conversão de moeda. Eles não lhe darão uma cotação real sobre o valor das taxas e poderão cobrar o que quiserem, uma vez que o valor é estabelecido no final do dia. Não estou dizendo que é fraudulento, mas as taxas de conversão são muito altas e parecia que eu estava sendo enganado.
Tudo o mais estava bem da minha perspectiva, embora eu não estivesse fazendo nada muito complicado.
@Dale: Scotia iTrade parece ter um bom inventário de títulos. Olhando para os rendimentos, um Canadá de 5% com vencimento em 01 de junho de 2014, rende 2.606% no iTrade. O RBC cita a mesma ligação em 2,512%. Parece-me que o iTrade tem melhores preços, mas posso estar errado.
@Phil: Nenhum preço de títulos é tão obscuro quanto antes.
@ Jonathan: Minha experiência com o serviço ao cliente iTrade é limitada, mas os dois CSRs com os quais falei ontem foram úteis e bem informados. Mostra como você não pode tirar conclusões de um pequeno conjunto de amostras.
@sid: Eu verifiquei o iTrade e eles oferecem mais de 3200 fundos mútuos. A maioria dos grandes nomes estão representados na lista. O site diz que não há comissões para comprar / vender fundos mútuos, mas as negociações com corretor são cobradas US $ 45 e observe a taxa de 1% mencionada no post.
@mj: Sim, as taxas de conversão de câmbio são muito altas. Dependendo do seu perfil de investimento, uma taxa extra de 1% pode facilmente acabar com as poupanças de comissões para certos investidores.
Eu me pergunto se posso interessar alguns leitores em me ajudar a pesquisar preços de títulos. Eu tenho acesso ao iTrade e RBC Direct. Os leitores com acesso a BMO, TDW, CIBC, Scotia, QTrade etc. estariam dispostos a me ajudar a procurar preços em uma lista de títulos e publicá-los aqui?
Eu sou um usuário do I-Trade. Eu mudo da TD Waterhouse para a I-Trade há dois anos. Estou usando uma plataforma de análise técnica (Decision Plus). Eu estava pagando mais de $ 50 / meses pelo serviço. A E-Trade oferece uma promoção especial para o investidor que concordou em transferir pelo menos US $ 50.000 para a I-Trade, o serviço Decision Plus é gratuito. Uma economia de mais de US $ 600 / ano. O Decision Plus me oferece um ótimo recurso de Análise Técnica. Eu os usei para me ajudar a tomar decisões de investimento (não de negociação). Eu também aprecio os seguintes recursos da I-Trade:
uma. As taxas de margem são atualmente uma das melhores (prime + 1,25%). Melhor que RBC, BMO, Disnat e TD Waterhouse em 3,5%;
b. A transferência eletrônica é fácil de usar e rápida para transferência de fundos de e para minha conta bancária no BMO.
No entanto: Existe alguma desvantagem em investir com a I-Trade:
uma. O spread obtido pela I-Trade na transação de USD comparado com o RBC, o BMO e o corretor de descontos do National Bank é muito maior. Eu não recomendo usá-los para transações nos EUA em moeda Cdn. Caro se você possui ações dos EUA em sua conta RRSP.
b. Quaisquer alterações em uma conta RESP ou RRSP são tediosas e difíceis de implementar. Muitos formulários em papel devem ser preenchidos e enviados para o escritório principal em Toronto. Eu não os recomendo para contas RRSP e RESP.
Contanto que eles me forneçam os serviços gratuitos, vou manter minha conta com eles. No entanto, estou acompanhando o spread na transação dos EUA.
Acabei de trocar minhas contas do iTrade para o TD por alguns motivos.
1) Enquanto eles fazem lavagem de taxas em negociações de títulos dos EUA em um RRSP, não é automático. Eu tenho que ligar no dia seguinte para dizer-lhes para fazê-lo manualmente, e eu sempre tenho uma dúvida persistente de que isso será feito errado. Uma vez, eles removeram dinheiro da conta em vez de adicioná-la, o que foi corrigido depois que eu liguei.
2) Alguns pedidos de ações dos EUA não podem ser implementados on-line. Eu sou instruído a chamar um comerciante para fazê-lo. Isso é inconveniente se eu quiser fazer uma negociação de limite em uma ação pouco negociada, já que não posso dizer se a ordem foi preenchida. Acabei evitando apenas comprar essas ações. Irritante.
Esses dois pontos destacam minha preferência em fazer meu investimento on-line, não no telefone. Alguns dos representantes de atendimento ao cliente são excelentes, outros não.
Eu tenho uma conta com o iTrade pelo mesmo motivo que você mencionou: o plano de compra de ações do meu empregador. Foi movido para o eTrade dos EUA, que apresenta uma grande desvantagem & # 8211; não há opção para transferência eletrônica para um banco canadense!
Dan: Você pode me falar mais sobre análise técnica que está usando?
Estou usando o SMA200 e o SMA50. Até agora, tem funcionado bem, já que estou mais confiante sobre a tendência geral. Qualquer ponto ou orientação é ótimo.
Eu era cliente da E * Trade por dez anos antes de a Scotia assumir o controle. Alguns meses depois disso, eles me bloquearam da minha conta e me recusaram o acesso, mesmo depois de eu lhes fornecer todas as informações de segurança que eles solicitaram. Levou alguns meses para resolver o erro de administração que eles fizeram. Eles se recusaram a admitir que haviam cometido um erro e não podiam garantir que isso não aconteceria novamente. Escusado será dizer que já não sou cliente e estou feliz com a minha mudança para a Investorline.
Eu estive com o (E *) iTrade por cerca de um ano agora. A configuração da conta demorou um pouco mais do que eu esperava, mas nada fora do comum. Eu tive que ligar para o serviço ao cliente duas vezes em algum momento naquela época, porém, e um dos representantes de atendimento ao cliente foi um pouco condescendente para mim ao telefone, quando, como percebo agora, eu fiz a ele algumas perguntas básicas. Mas de qualquer forma..
A interface da web é realmente básica e nem sequer me faça começar nos gráficos. Eles são tão mancos e primitivos. Mas, apesar de tudo, estou feliz com o serviço e por US $ 6,99 por negócio, não há muito o que reclamar.
Os relatórios de analistas da Scotia Capital e os comentários diários do mercado também são bem-vindos.
Além disso, como eu negociei bastante, eles me forneceram um software gratuito de cotações em tempo real. Mais uma vez, o software é extremamente básico, mas faz o trabalho, por isso não há queixas aqui ..
Notei uma acentuada degradação do serviço do comércio da Escócia em comparação com o itrade. Primeiro, você não cobra juros das contas em dinheiro por dinheiro inferior a 1 milhão. Em segundo lugar, o spread da moeda não é transparente e acabei de descobrir que o spread é de 2% 1 caminho. Eu realmente não gosto dessa alta taxa, mas eu não sei qual é a alternativa. Eu estava extremamente acontecendo com o iTrade, mas fiquei desapontado com as novas taxas ocultas e com o menos entusiasmado representante do cliente. quem parece ser apoiado a chamada offshore.
Uma vez que o banco esteja desembarcando suas mãos para uma corretora com desconto, ele reduz a eficiência e as competições e aumenta a taxa. Eu gostaria que houvesse mais concorrência no Canadá.
Sou cliente da Scotia iTrade (e anteriormente eTrade) nos últimos 6 anos. Vejo que o cliente da Scotia iTrade passou do pior para o pior.
Aqui está o cenário:
Enviei um formulário de inscrição para abrir um TFSA há um mês. As instruções dizem claramente que você enviou apenas o aplicativo TFSA se você for um cliente Scotia iTrade existente. Se você é novo no Scotia iTrade, então você tem que preencher o novo formulário de solicitação de conta.
Então, enviei meu aplicativo TFSA e recebi um e-mail deles dizendo que minha conta do TFSA não pode ser aberta informando que está incompleta.
Liguei para o serviço ao cliente e eles disseram que eu tenho que preencher um novo aplicativo de conta, mesmo se eu sou um cliente existente da Scotia iTrade.
Eu disse a eles que a instrução não está dizendo isso. Eles não se importavam e continuavam repetindo a mesma leitura de um roteiro.
Eles não conseguiram responder e é absolutamente suas operações não são ideais. Lá vai outra oportunidade de negócio fora da janela para eles.
Scotia iTrade Execs & # 8230; por favor, note e atue em conjunto para manter seus clientes com você ou perder o seu negócio e seu trabalho mais tarde.
Scotia iHate! deve ser sua nova campanha de marketing.
Sou cliente da Etrade nos últimos 10 anos e concordo que o atendimento ao cliente e as políticas foram reduzidos desde que a Scotia assumiu o controle.
Para a TFSA, você tem toneladas de papéis para preencher e precisa enviá-los pelo correio, sem fax.
Para o RRSP, se você receber um pacote de indenização que deseja converter para o RRSP ScotiaItrade, boa sorte, eles têm mais exigências do que os bancos.
Para completar, eles receberam meus cheques TFSA e RRSP depois de 10 dias pelo correio (perda de receita), olhei para ele, fui rejeitado por documentos incompletos e retornei pelo correio novamente - mais 10 dias, (perda de receita) todos sem nenhum chamada, e-mail ou acompanhamento. Claramente muito mau atendimento ao cliente, procedimentos inconvenientes e nenhum cuidado para os negócios.
Eu concordo & # 8230; Scotia iHate é mais parecido com isso.
Eu tenho com Scotia iTrade desde agosto de 2009. Seus preços caíram, desde a leitura de alguns comentários mais antigos.
Eu não estou feliz com eles. Eles não estão configurados para o operador ACTIVE, não importa o que foi dito. As plataformas que eles fornecem não servem ao Royal Bank ou Trade Freedom. Eles não fornecem uma plataforma de cotações de ações com feeds ao vivo para o TSX, como suas contrapartes. Eles dizem que é possível acessar cotações ao vivo, mas você literalmente tem que passar por obstáculos para acessá-las pesquisando cada ação com uma cotação detalhada de suas "Cotações & amp; Pesquisa & # 8221; área do seu site. Os símbolos ticker também desaparecem regularmente da janela de negociação Scotia iTrade Market Trader. Foi-me dito que apenas suportam o Java 6 e não superior. Estamos no Java 8 agora. Seus preços são competitivos agora em comparação com antes, mas isso é tudo o que eles têm para oferecer. Eles definitivamente não são para "O Trader Ativo". # 8221;
Correção no post anterior, TSX estava incorreto, eu quis dizer troca TSV-venture. Para aqueles que negociam com qualquer nível de atividade na bolsa de risco de Toronto, o iTrade não se apega ao Royal Bank ou Trade Freedom. Para o investidor que pretende comprar e manter, seus preços são muito competitivos agora, mas para o trader ativo ou day-trader eles perderam o grande momento do ônibus.
Eu sou um cliente da Trade Freedom usando a plataforma de negociação da Edge, a partir do momento em que a Scotia comprou a Trade Freedom, o serviço deteriorou-se significativamente, enquanto na mesma época a Scotia aumentou as taxas em todos os níveis; A última nova taxa que eles implementaram é uma taxa de US $ 30,00 para a plataforma que costumava ser livre com liberdade comercial. Neste momento estou procurando outro corretor. Alguma sugestão?
Eu estive com a E * trade por cerca de 6 anos, mas os erros se tornaram tão reduzidos que estou mudando para a Questrade. Todos os anos, eu desregistro parte do meu rsp em espécie para continuar a coletar dividendos fora do rsp. As ações tendem a desaparecer em contas fictícias, elas se transformam em dinheiro, etc. Estando na plataforma pro, eu não conseguia transferir meu próprio dinheiro e as transferências telefônicas eram erradas 92% do tempo (eu mantinha um registro ). A plataforma pro estava ligada à minha conta canadense de margem, mas eles tiraram a taxa da conta em dinheiro da minha filha e, em seguida, enviaram um e-mail para dizer que venderiam seus estoques porque a conta estava com margens reduzidas. Eu tentei tirar o dinheiro dela, eles disseram que estava em seu nome, então não poderia ser tocado. Eu saí da plataforma pro para mover meu próprio dinheiro para estar seguro. Um mês depois, eles levaram outros US $ 100 da conta da minha filha.
Eu poderia escrever páginas e páginas, mas escusado será dizer que não as recomendo.
Ok iTrade realmente me deixou com raiva agora. Algumas razões.
1. Minhas contas de negociação pessoais e corporativas eram logins separados e funcionavam bem com o Etrade. Recentemente, com a transição para o iTrade, eles mesclaram minhas contas em um login sem qualquer aviso ou permissão. Eu os chamei para se explicar. There was no apology, and they stated this was routine procedure to prepare for switching from Penson server to the Scotiabank one. I didn’t know it was so obvious…
2. iTrade server seems to go down every once in a while. Doesn’t let you log on. It is currently down again, Monday, as of 2PM, likely won’t be fixed until 4PM. ri muito. So you try to call iTrade to get your trades done over the phone, but they didn’t install enough phone lines, so all you get is the busy signal.
3. Customer service reps are not very knowledgeable. If you are interested in doing even basic options, I would hesitate using iTrade as your broker. You could be disappointed when it comes time to get something corrected over the phone.
Anyway, I made the mistake of only having one discount broker. I think I’m gonna look into RBC. And too bad Scotiabank messed up iTrade. Because not only do I intend to slowly pull myself away from iTrade, I don’t think I’ll ever do business with Scotiabank.
I too have been having problems login into iTrade since the change last week-end.
So far, I went through 3 reps that couldn’t get the problem fixed until I stumbled on the “reset password” link where I had to input a phone number I had disconnected nearly five years ago when I had an eTrade account in order to be able to reset my password, among with other information.
Is that link new ? It wasn’t there on 4 days ago… they must have had so many problems they finally put it in instead of clogging their lines with callers that had the same problem.
When I logged back in, everything seemed to be in order, but this morning the system lets me log in, but account holdings have now disappeared, and the site tells me I need to have a brokerage account open with them to access this feature… Uau.
I can’t imagine how it is for people who do this on a daily basis.
I’m not even going to comment on the busy lines.
I’ve been with Etrade/Itrade for over 10 years. Occassionally they would forget to credit my dividends or I would have login problems because their server was down or they would forget to remove the “hold” after 10 “business days”. (Calculate the interest you are missing on 30K over 2 weeks – then tell me you are paying “$9.99” a trade). Anyway, I tolerated all that.
However, since last week. Service has dramatically deteriorated. First, their new system wouldn’t accept my login password which I’ve used for a decade. I had to change it. Now they’ve messed up my transfer links so I can’t transfer funds between my bank account and iTrade. Of course they won’t pay you any interest on positive cash balances.
Today I tried calling them 3 times to resolve the transfer link issue but I still couldn’t get through. If I e-mail them they say I should call!
This is a terrible brokerage. Don’t ever open an account here. Scotiabank took it over just to reduce competition. I’m sure people will be moving out in droves. Unfortunately there is not much choice in non-bank brokerages.
I’ve been using Itrade for 4 years, and service was OK. Now since last chance, I found that I have been charged the 0.02c/shares for all my transactions, a total amount of 12,000$ has been charged to my account and after 3 calls, only answer I could get is ‘We’re going to look into it’ . Can’t beleive it, anyone with the same issue ??
I’m hearing a lot of reports on iTrade’s conversion over to Scotia is not going smoothly. If you are an iTrade customer, I’d love to hear from you on (1) What problems are you encountering and (2) What’s iTrade doing to fix it ASAP. Obrigado.
I HAVE TRIED FOR WEEKS TO GET INFO ON MY ITRADE ACCOUNT WITH NO SUCCESS!
IWAS A FORMER MEMBER OF ETRADE.
I have been awaiting an answer to email queries for over 4 days now. Nothing (despite the 24 hour response time avowed on the website and then the lesser 48 hour promise made in the automated response). I had stock certificates couriered to them 10 days ago now that have not shown up in my accounts. I am worried. I am unhappy. I feel underappreciated and underserved – this is big bank treatment all over again which is what i switched to etrade to get away from. I was a satisfied etrade customer for 5 years but I am switching as soon as this is resolved. I have heard Questrade and Investoronline mention in this thread. Any other suggestions or advices for an alternative out there…
A quick addition to the above: I made the above comments shortly after initiating a call to itrade and being put on hold. In total, i was on hold for 32 minutes. The rep was humble and apologetice and had obviously been beaten up in the last week by repeated angry calls during the transition. He initiated a case file, but was not able to resolve the issue.
Poking around online while waiting, i think Qtrade is the likely destination for my business. I’m also condsidering putting everything into giant wheels of parmesan cheese and keeping them in my basement – it maintains value in the face of inflation and, if things get really rough, can be eaten.
Glad to see you’ve kept your sense of humour throughout your ideal. I got a kick out the image of huge wheels of parmesan in your basement.
I was lucky enough to leave ITrade before anything bad really happened. The names QTrade and Questrade confuse me, but after looking around google for a minute here, I see Qtrade is one of the best and Questrade is widely hated.
I recently switched to RBC Direct Investing, and I qualify for the Royal Circle, which offers a number of waived fees and access to their best customer service reps. I’ve dealt with them on the phone a few times, and so far they’ve been very capable, quite unlike my experience with other broker’s CSRs.
Here’s some details:
ATTENTION Scotia iTrade customers.
Scotia iTrade, is totally FUBAR! I recently went through my transaction records and it appears Scotia iTrade has not been refunding my $9.99 commission on my transactions. It appears as if they refunded them on my first 10 trades after I opened with them in August of 2009. All the trades since them they have charged me $9.99 commission. I would not have even thought to look over this until I noticed a stock I purchased early in September for $1.00 a share and still hold, has the $9.99 commission still attached to it. I was told my first 100 trades would be free of ALL commission charges. As I am a daytrader I figured I would use that up fast. I did no notice the fine print on this offer, which is not evident on this promotional advertizement (upto 60 days). Nor did their representative upon opening this account make this stipulation clear.
I recommend anyone with an iTrade account review their records and transactions, as I have done recently to see if they were ever reimbursed for the $9.99 commission charges on their first 100 trades. For daytraders like me this can add upto $999.00. I would recommend like me, you phone them up and get them to review your first 100 trades or first 60 days of transactions.
On a scale of 1-10, I grade Scotia iTrade at 2. Not only do they use misleading advertizing, but their bean-counters can’t count worth a tinkers damn.
Remember to read the fine print, when you open an account, and keep an exacting record of all your transactions, because they sure as shooting can’t.
i have called several times and had to wait 30 minutes or more. i don’t have time so sit on a phone. i want my money out. I have not paid into this for 2 1/2 years, i don’t work for Trade Secret anyone and i wish to cash this in and be all done with iTrade. Please contact me soon. 1-204-571-1769.
I am looking at opening a TFSA account for both myself and my wife with Scotia iTrade. I will be tranferring the money from ING where I currently have a TFSA saving account (just cash savings).
My intention is to buy stocks for a major canadian business and hold on to it, so light trading, maybe 3-4 times a year.
If anyone else is using iTrade in a similar way I would like to hear your experience, how long it took to get setup to the point where you have the stocks purchased, what minimum cash balance I have to keep in the account (if any), what fees are involved, what plan (software platform, etc) should I use with iTrade.
From my research done on Scotia iTrade website I understand I would not be subject to low activity fees and would pay CAD 9.99/transaction.
Thanks for your help.
does anyone know when scotia direct investing will switch to itrade? i have been holding off on trades b/c i have to pay 29$ i think…whereas with itrade i should be trading at 10$. its says “end of year” but i haven’t seen or heard anything and i don’t want to wait on hold for half an hour.
Whatever you do, don’t sign up for a TFSA with this lot. They’ve just lost mine, along with the 5000 dollar deposit. They make mistakes all the time. You can’t get through on the phone and it’s weeks before they get back to you by email. I’m out of the country and have spent more than an hour in total trying to get through to them, at my toll expense, to no avail. So who knows where my account, its money and outstanding orders may be lurking. Run fast, run far, to any other brokerage.
Time for a little accountability from Scotia ITRADE…Perhaps a group effort to report them to appropriate agencies?
Toby: Open a skype account and you can access north american toll-free numbers from overseas.
I too am overseas and have spent about 7 hours on hold in the last month (tracking down lost securities that were couriered to iTrade in early december). The problem is finally solved but only after losing patience with the customer service and demanding a supervisor on two occasions. In the first four calls i was given a rote assurance, then a case file, then my file was upgraded to some kind of urgent status and then more assurances. The first time i spoke with a supervisor he started with `lets do this quick, i was just about to leave for the day`. To my relief and frustration, he was able to find most of my lost securities immediately. Clearly there is some shortcoming with the c. s. pessoal. Either they have no real access to solve the problems or they have no time to do it and are simply answering the phones to hand out platitudes and case file numbers.
The second tranche of missing stock were a similar story. After one month and finally blasting a c. s. rep until i got through to a supervisor, i finally have them. And now i merely need to make a decision between RBC (thanks Gene) and Q-trade.
My 2010 resolution is to get my money out of iTrade. They have totally used destroyed the experience with ridiculous processes and a poorly planned And atrociously executed conversion. Can’t go back to RBC because their interface is the worst I have seen plus commission structure does not appear to be automated. Thinking of QTrade or BMO. Does anyone have any advice?
Scotia Itrade formerly Etrade is a mess, and their customers are paying for it, literally with time and money. Hours! spent on the phone, myself included, back office blunders in handling of money and confidential client information. I pulled my account with them a month ago after they deposited my funds into ANOTHER clients account by mistake (I had to call to get them to reverse this). I know a client service rep who told me about their “clean desk policy” where they leave client bank account numbers, social insurance numbers everywhere and on occasion sending the wrong customer personal information about another client in e-mail. Also Scotia decided I wasn’t giving them enough commission at 28 trades per quarter at 20$/trade to qualify for their “reduced commission structure” of 9.95 per trade (excluding ecn fees - read the fine print). I looked around and ended up with Questrade (4.95/trade for 495 shares and 1 cent a share where the maximum 9.95/trade (greater then 1000 shares/trade).
Scotia Itrade is a compliance nightmare! IIROC should investigate this mess.
I was a 10 year happy customer with Etrade. I noticed service sliding downhill very soon after Scotia took over, but I tolerated it based on 10 years of reliable service. With their taking over backend brokering and subsequent system migration Dec. 5, Scotia has made a resonant statement. They have signalled openly and clearly that they are well beyond their competency now and have no idea how to handle the sputtering volcano that the backend system has become, nor the angry pitchfork and torch carrying mob waiting for up to 2 hours on the phone.
Problems too many to mention followed by an imploding customer service disaster, waxing to lots of online noise about class-action suits. Scotia iTrade is on tilt folks. Cool heads say get out while you can.
Eu estou fora. My move to Qtrade is complete and I am so far, despite increased costs due to an expensive ECN policy, a happy camper. Customer support is AWESOME! Easy to contact, actually knowledgeable!, and very motivated to help. I keep pinching myself! They even paid my transfer fees. Their website is superior in some ways, maybe not as sophisticated in others, but remember that the best of the iTrade website was inherited from Etrade, and Scotia was already showing signs that they where unable to maintain it properly.
Anyone considering iTrade as their online discount broker should seriously consider alternatives. Existing iTrade sufferers would be wise to do the same. There are so many excellent options!
Currently on hold waiting for iTrade Customer Service again. So lots of time to stew and vent…
I am calling back to resolve an issue that was supposed to be resolved last week. I have options in one account that are expiring the system says I do not have trading priviledges. Option trading works in my other margin account so it mystified me when the CSR told me I would have to wait 3 days for a confirmation that I can trade. Its been 5 days and no call. Today they appear not to have any knowledge that I have a pending issue AND its not resolved.
I wanted to open a supplemental cash optimizer account and they told me I have to mail in another app. This is pretty backward!! Also unable to see these same accounts in my easy transfer list so I can transfer my money OUT of iTrade…..
I cannot imagine how anyone could screw up a conversion so badly especially one that involves peoples money. It appears that there was no quality control or testing done. Every issue appears to be a surprise. Will need to look into IIROC body mentioned by Dave. Think its time to complain.
As I’m typing this, the iTrade website is down, impossible to access. An idea with a class-action suit is starting to look more and more appealing with each passing day..
Sim & # 8230; as i am writing this I can’t login. Phone line has had busy signal all morning. Earlier I was able to login, however, I got the msg “This feature is not available at the moment” when I tried to access my account. Terrible.
Yes, the itrade site has been down all morning.
I clued into it when I didn’t see the email confirmation of a Stop Loss which should have kicked in this morning. Couldn’t log into the itrade site. Phone lines are clogged. I still have no idea of whether the stop loss order when through or not.
I was one of the lucky ones in the conversion last month, down to the penny. However, this is testing my patience. I need a reliable broker, at all times.
I initiated a transfer out from i*trade on Nov. 14 2009 because of all the mistakes, losing money, accounts disappearing, too long of a list to name them all. I was afraid the changeover would even make it worse. I was able to get some of the stocks out but they kept the rest saying it was too close to the changeover. So I reinitiated the transfer but since then a dividend for $100 has come to the new broker and been taken away 9 times. As of today i*trade says I owe them $200 but they have taken $300 from my new broker and $200 from my bank account. I guess that is i*trade math. I only dream that I will be rid of them some day but it is a pipe dream. I like the idea of class-action suit if for nothing else other then just get my frigging money out of there and put it somewhere safe. By law funds have to be transferred in 2 weeks. I am now over 2 months.
iTrade site is back up. My stop loss order, which should have excuted around 10am, didn’t. That leads me to believe it wasn’t just their website, but the underlying trading platform that was down. Não é bom.
Lines are still clogged… what else is new.
Feeling a bit better. Talked to a CSR called Omar who was calm knowledgeable and understanding. Next day my issues were all fixed as promised. And yes I have moved any cash I could OUT.
Something new I noticed is the options values do not appear to update through the day (think the day before value is kept). Hoping this is not a permanent feature caused by the conversion.
Overall, Scotiabank made a very good move in purchasing ETrade but has really screwed it up by applying its archaic processes and back-end processing. So the challenge is to find an alternative broker with reasonable processes and a good interface which does not charge $30 a trade. Canada really needs more alternatives for DIY investors.
I was a satisfied eTrade/iTrade customer since 2006 until the weekend of Dec. 5-6, 2010. They lost/misplaced my money, years of savings, in their disasterous conversion that weekend!
I’m at my wits end with these guys, I can’t afford a lawyer because they lost my money! My net value shows $900.00 or so yet I can clearly see in the transaction history that my last deposit was $2000.00 in November.
I used to own 8 mutual funds, but now my account is only showing 4 and all on margin!
I’ve written over 15 e-mails to these guys and after several days I get a reply that everything seems to be in order. When I call their customer service department I get stuck stuck on hold for 30 minutes to speak to some poor lady in India, who’s making peanuts to let furious customers vent on her while she gives them false hope that her bosses are resolving this gigantic f*ck-up!
If anyone from iTrade reads this posting, please forward it to the most senior person in your company that you can; your customer service dept. is worthless.
Eu não sei o que fazer. Can anyone give me some advice?
Watch for me on the news in about a weeks time, I’ll be the old, fat, balding guy wearing nothing but a sandwich board that says “I was raped by iTrade!” blocking traffic in the busiest intersection in Toronto during rush-hour traffic!
AVOID THESE INCOMPETENT @SSHOLES LIKE THE PLAGUE!
and, do your fellow man a good turn by spreading the word . . .
BK – Id still missing 40k if i hadn’t gone crazy on the phone and demanded to talk to the girl’s supervisor in what must have been a scarier than normal phone call for her. Scream, yell, swear and threaten until you get through to someone above. The CSR’s who are answering the phones do not have the proper access to the system that they need to fix any real problems – they are answering what questions they can and simply giving out case file numbers for the real problems. I feel bad for them, it must be hell walking into an 8-hour shift of the abuse they are surely suffering everyday. But it’s your life savings – faça. I think the people who can really fix the problems are few and are swamped by a tidal wave of serious screw-ups.
On the upside, the wait times were down to a mere 30 minutes the last time i called (yesterday). On the downside, they don’t seem to be able to help me with a proxy vote which should be a simple phone call.
In the process of moving everything to RBC. In case anyone out there is wondering, RBC will cover your transfer fees (up to $500), but you need to ask them about it specifically.
If you trade option with Itrade, check your trades. They now charge $55.00 (rounded) for an Assignment. This is a $9.99 increase and now makes them the highest of the discount brokers.
O BNS realmente estragou o Etrade. I don’t know if they’re not funding it or what but customer service is in the toilet. A interface é péssima, por isso somos forçados a chamar qualquer outra coisa além das ordens de opção mais simples. The guys answering the phones are either incompetent or pretend to be – very frustrating, when trying to place a simple option spread order. O site fica inativo por horas a fio e toda a cadeia de opções de cotações desaparece misteriosamente permanentemente (alguém procura RUT ultimamente?). Sem mencionar que divertido fim de semana em dezembro, durante o qual eles mudaram uma posição LONG call para uma posição curta do nada forçando-me a depositar 20K para cobrir uma chamada de margem que nunca deveria ter sido emitido em primeiro lugar.
Going forward my “core” holdings will be at RBC and I’m going to optionsxpress for option trades, at least you can enter orders directly without being forced to talk to rude, slow and sometimes stupid customer service reps. Um triste final para uma conta Etrade de 10 anos de idade, oh bem.
Like a typical Canadian bank, they’ve laid-off a lot of their experienced employees (the highly paid ones) to cut costs. That was obviously the reason for the merger of Scotia McLeod, Etrade and Trade Freedom. Now they are advertising heavily for new customers to make up for the ones they lost. As they say, there is a sucker born every minute!
I was a e*trade customer since 1999. It was fabulous when I used it, I stopped trading since 2002. I plan on getting back into using itrade. Just transferred 70K into the account. Reading all these posts is making me nervous. I am going to keep my fingers crossed for a few months, but If I see any of the issues mentioned i’ll be closing the accounts for sure.
CC: Did you actually get to complete the research on Bond prices? I can help looking up prices through TD.
I would rate iTrade as mostly good, as far as I can tell.
I started with e*Trade in late 2008 as the market is tanking and I found them quite good as an online broker. They opened my account quicker than RBC direct and thus got my business (lucky for Scotiabank).
The conversion period was a mess for a week or 2, but generally I have found iTrade to be good for everything (commissions, a few customer service calls, up-to-date account information and good presentation of bid/ask information).
If someone from Scotiabank is listening I find your service generally good, but I suggest 3 areas for improvement:
1. The currency spread on USD is brutal. If our buck is trading at par and I buy $3000 worth of US stock, I find myself down $60 to begin with. Please consider giving us a better rate as I do need to diversify geographically and this reduces my rate of return by 2% – just like a stinkin’ mutual fund!
2. The financials for companies are quite out of date (unless only the headings are incorrect). 2007 financials are quite useless to me. What if I used the out-of-date information and decided to buy some Blockbuster Video shares or Lehman Brothers? D’Oh!
3. As an existing loyal customer, I would sure like to see some bonuses for existing loyal customers – maybe a few free trades. If I’m a new customer, I get 100 trades for free, but as an existing customer, I get nada. Please examine the situation with Telus and Rogers / Shaw etc. vis a vis phone, TV and internet. Everyone switches their service back and forth every 9 months or so to get the free goodies and it’s a race to the bottom for the vendor.
Isso é tudo. 4/5 stars I say.
I have been an e*Trade client since 1999. I had no issues with the service until it was taken over by Scotia Bank. I was willing to forgive the mess around their December conversions as part of Scotia’s learning curve and that I figured it was a pretty massive undertaking (though poorly thought out). Unfortunately system issues keep occurring that have left my account in a mess and unable to trade for days. Many of these issues i*Trade should have taken care of themselves without my calling. I also got bad advice from thier CSR on transferring my RRSP severance package after they mailed my employers cheque back to me, that had I followed, would have seen those funds being taxed and losing the ability to transfer the amount to my RRSP. More recent events around converting my Cash account to a Margin account has been rife with errors and significant events that I should have been warned about before the conversion took place. All this has convinced me that its time to leave for another broker. Interesting that the trend continues. I had a bad experience with the BNS over a mistake they made on my student loan 35 years ago after which I swore I would never deal with them again!
As an itrade rep, I find 99% of all clients to be completely retarted….. typical itrade cleint question: whats a maket order – are u f***ing serious…..
Don’t worry itrade clients i am publishing a book called Discount brokers for retards.
Chapter 1. if you don’t know what a market order is … your f***ed.
Chapter 2. do your own research, this is a discount brokerage.
Chapter 3. You are responsible for everything, if you don’t like it f*** off and go to a full service broker.
Chapter 4. Do you get first class customer service at walmart ?? não & # 8230; so don’t expect it from a DISCOUNT BROKER you f***ing morons.
@bill: Nice attitude you are displaying here hiding behind an anonymous handle and dumping on your own clients. If this is the typical attitude from iTrade CSRs, is it any wonder there are so many disgruntled comments?
To Bill the Itrade rep. I was with E*trade, I*trade for many years. I do know what a market order is and all those other fancy words you were using. You proved with your discussion what a classy individual you are and I would suspect there are many co-workers with you who can swear just as well. The people who have written have had legitimate problems and were not able to get them resolved. On 4 different occasions within 2 years I woke up to find between 12 and 20000 dollars missing from my account. Many times I put in stop/ market orders (you know what that is right?) only to see the price go way past the stop and never trigger until I phoned e*trade to have them manually take me out of the trade. Like a previous customer as I was watching myself losing money, the stop did not trigger and then my account would be locked out for 10 minutes so I could not get out of the trade while I waited on hold at e*trade. I could probably write 5 pages of mistakes e*trade i*trade made with my account up till the point where I tried to get my money out of e*trade. It took 4 months to get my account moved with constant mistakes and money disappearing every couple of days.
I have been with my new broker now for about 1 year and they have yet to make a mistake so you be the judge as to who made the errors.
If you or anyone at I*trade would like to dispute my claims I would be more then happy to prove every item to you. In the meantime you are an excellent spokesperson for IB, Questrade, Qtrade, Investerline, TD,……………. Obrigado pelo seu tempo. Bill.
Thank you for the positive feedback, Andy. Our team appreciates your suggestions.
@RJN – I am sorry to hear about your experience with Scotia iTRADE and appreciate your patience and understanding during the switch over of Scotia iTRADE’s back-office last year.
I also have the feedback on this message board and would like to thank you all for taking the time to discuss us. In doing so, you have provided us a very valuable opportunity to improve our services.
Furthermore, we provide our representatives with the training and support to ensure they deliver the type of experience and response our customers expects. As such, the entry posted by “bill” above does not represent Scotia iTRADE.
We are listening and we are working hard to better assist our customers and enhance our product offering.
If you have any questions or suggestions about Scotia iTRADE, feel free to email me directly at nabil@scotiaitrade. Estou ansioso para ouvir de você.
Agradeço novamente,
-Nabil | Follow us on Twitter @Scotia_iTRADE.
Here is some helpful tips to prevent technical problems in personal computer:
When you are experiencing problem such as being locked out for 10 mins, that means there’s either duplicate files created in your browser or cache which is caused by visiting the same page repeatedly during the day. Things you can do: 1. Reduce or prevent to use the back space button on your brower (top left hand corner). 2. Clear off-line contents, cookies, and browsing histories on a weekly or daily basis depending on usage. 3. Automatic sofeware update at least once a week to meet system requirement.
When all of the above doesn’t seem to work. Log out and log back in because brokers have sereral gigantic servers. By doing it you are switching to a better one from the worse one.
The above tips are applied to all broker web-site not just to itrade.
I was overall happy with eTrade/ iTrade over the last few years. The exception was a one time 3rd party check from my former employer to deposit into my RRSP. They returned the cheque to me two times requesting more information without saying what information. I spoke with agents 4 times requesting a list of what information they required to deposit my cheque. They listed verbally a few requirements that I had allready submitted, but refused to give a list. Finally the last agent said that they don’t like to take 3RD party cheques into an RRSP. I could live with open tranparent rules but their duplicitous behavior was unbussiness like. I went to TD Waterhouse opened an account and I had the cheque in within the week. Naturally I transferred my RRSP to TD the following week.
I recently transferred a portfolio from TD to iTRADE. As I type this, the iTRADE website is down…can’t trade…can’t even view my accounts…can’t believe this actually happens right in the middle of a trading session. After doing some research, I found this also happened back in Jan 2010. Basically, unreliable, which for a brokerage, is unacceptable. TD never had this problem. No word of compensation for this downtime. After my 100 free trades at iTRADE, I’m cashing out and going somewhere else.
In all fairness to iTRADE, the account setup process and transferring of assets in kind from TD went smoothly.
The 100 free trades promotion was further sweetened by $6.99 trades for 1 quarter after the free trades were used.
For website downtime compensation, I think $6.99 trades for an addtional quarter is fair…fingers crossed.
Btw…website is STILL down…
For the previous posters whose money in iTRADE mysteriously went missing, can you elaborate? Did the money go missing during an Etrade to iTRADE conversion, or was is subsequent to that? If subsequent, what caused the money to go missing? Was is cash balances or share positions?
Seems unusual for a big bank to have accounting errors like this…even though they’re audited…still makes me very very nervous when a customer is responsible for their own auditing.
Website still down…
Scotia Itrade has a Tweeter account. The latest tweet is a prime example of putting some lipstick on a pig. Muito frustrante..
“Hi @andrewhellin: Some features on our website may not be available & we’re working to resolve it quickly. Anything I can do to help? Obrigado & # 8221;
Finally got through to customer service…they said if I wanted to place a trade, they’d connect me with a trader and I could place a phone order…get this…at the internet rate instead of the $45 phone rate! Are you serious. At the least, I would’ve expected zero commissions for this disaster.
Desculpe pela inconveniência.
I understand your frustration and we’re working to resolve this matter quickly. If there is anything I can do to assist, please do not hesitate to email me directly at nabil@scotiaitrade.
Estou ansioso para ouvir de você.
@John: IIRC, the Scotia iTrade problems back in Jan. 2010 was due to migrating from eTrade’s platform. IMO, the least Scotia iTrade can do is offer web pricing for phone orders when the website is down. Problem is when the website is down, phone wait times are likely much higher.
Thanks for the info regarding migration problems. Sounds like I won’t be mysteriously missing money or positions, but now I don’t trust them. How can I conduct business with a bank I don’t trust?
As for calling in a trade, I gave up after waiting more than 10 minutes, and I’m a high net worth client…by then, the trade opportunity was gone. Thankfully, the market was fairly flat today and I didn’t have any positions that needed to be urgently sold. That said, I along with many other traders were needlessly boxed out today…which is an opportunity cost translating to real dollar losses…a situation I have NEVER encountered before with other online brokerages.
In any case, I had such high hopes for iTRADE and all my experience with them up to today was positive. Unfortunately, that balloon is complete deflated. After 100 free trades at iTRADE, we’ll see…they’re definitely on probation.
Not to sound overly harsh, but thanks for the canned reply. I heard these almost exact same lines from other members of your customer service team. And no, I don’t want to be connected to a trader just so I can waste more time/opportunity queuing on the phone. At least with TD’s Presidents line, I get through right away.
I can understand if the exchanges failed…or if all online brokerages failed today as well. That would be out of iTRADE’s control. But that wasn’t the case today. The problem rested solely on iTRADE…the only online broker today who failed. If this was hotmail or yahoo, I can understand…but THIS IS A BANK!
So disappointed…and now I have to go back to TD, hat in hand, to reopen my accounts. And to think I was about to accept Scotia’s private banking offer…sadly, there’s no chance of that now.
@John: Trust me, I feel your pain. I’m with TDW myself. If I may ask, what enticed you to switch to iTrade, especially considering you have PA access with TDW? Is it the 100 free trades?
Switching back to TDW should be a cinch. No hats involved. I bet they will be happy to have you back!
Exactly, I switched because:
1) 100 free trades.
2) $6.99 trades for one quarter after the free trades.
3) iTRADE gave me their Market Trader platform for free, regardless of trade volume.
4) iTRADE offered free benefits like seminars by The Market Guys and movie tickets to Wall Street…small things, but TD had nothing like this.
I’d give all this up for reliability and peace of mind. It just sucks that I’m going to wake up tmrw morning and the first thing I wonder is whether iTRADE will work or not. And then after that, I’m going to have to audit every monthly statement to make sure it’s correct. Who do I bill that time to??
Anyone who watches BNN, CBC or CTV knows what I mean when I bring attention to Scotia iTrade’s brute-force exhaustive and incessant advertising campaign.
Consider this… If they are spending so many $millions on advertising, where is wise and productive money NOT being spent?
Whenever vast disproportionate sums are being spent on advertising, it’s always prudent to ask why. It certainly smacks of desperation in iTrade’s instance.
These guys seem to be able to execute a regular long/short stock trade, but they are absolute disasters when it comes to handling a piece of paper. In November, I submitted 2 forms to change the amounts withdrawn automatically from 2 accounts. Neither of them got implemented after a one month wait. I called to complain, they said they’d immediately (i. e. next month) fix one of the accounts, but that they couldn’t find the form for the other account! They said they’d look for the paperwork. Now in January, they have indeed fixed the problem on one account, and they’ve obviously found the form for the second account because they’ve withdrawn the amount TWICE from that account.
We had a tough time transferring a RESP from PH&N to Scotia iTrade, and found out from a CSR that transfers are – get this – OUTSOURCED (!) to another company. (PH&N was not at fault in all of this.) ITrade’s CSR told me that he and his colleagues spend about 30% of their time with transfer problems, and confidentially expressed his frustration. We did manage to get 5 free trades for the trouble/delay we had, but now everything is running smoothly. We also have our RRSP’s and several TFSA’s with iTrade and are quite happy. I think that a lot of the initial problems when they were migrating from Etrade have been fixed.
I have been an Etrade coustomer for ten years.
and have experienced some severe errors. First of all they require a letter for nearly every change. The trouble is they do not read it. In December they messed up payments from our RIF’s totally ignoring the letter we sent. Try sorting that out from Mexico!
This month they changed the account number on my wife’s RIF, moved it off of our screen and want more forms signed so we can access it on line again. Coustomer service is working on it but how would you like to see your pension funds disappear?
I have been checking dividend payments for this year and some seem to be missing. Who audits these guys?
Sure would like to find something better.
I have been trying to get a problem with using the wrong RRSP account for 2 years (my error initially). Keep getting different answers, always delayed. Basically used spousal RRSP vs cash account, they issuing slips to show transaction as RRSP income and never gave slips to sho tax saving contribution. They don’t care that I pay $1,000’s in taxes. Even CRA rep saying their decision makes no sense.
Don’t use Scotia ITrade, lots of better online trade services available.
I would not reccomend Scotia i-trade. Their customer service reps are rude, wait times are extremely long, and they NEVER take blame for any technical malfunctions which in my opinion occurs more than the norm. I’m just a daytrader trying to make a few dollars. For day rading, IB is the ONLY way to go.
Also, the “10 SECOND ADVANTAGE” Scotia advertises is questionable, as it doesn’t apply to US exchanges or shorting, and besdies, 10 seconds is a LONG LONG time.
@Vincent - I’m very sorry to hear about your recent experience and would like the opportunity to further discuss your concerns. Unfortunately I have no way of contacting you directly, but if you can drop me an email [nabil@scotiaitrade], I’ll be more than happy to assist you.
Estou ansioso para ouvir de você.
Nabil, too late as I’m in the process of switching brokers but I just wanted to add the service at Scotia i-trade, formerly e-trade was the worst I’ve ever encountered - PERIOD. & # 8230; and with the exception of Lillian, Scotia i-trade customer service employees are the rudest, most incompetent and obnoxious bunch I’ve ever encountered and many of them cannot be understood due to their poor command of the English language. Over the many years as a client, I’ve seen the smart on the ball former employees either being down-sized or quitting, and it reflects on the quality of service now being offered by Scotia itrade….Totally unacceptable!
Acabei de fechar minha conta com eles e mudei para outro lugar.
Coisas que você deve saber se você fizer um comércio nos EUA, certifique-se de transferir seu dinheiro da conta do otimizador canadense para a conta de margem dos EUA. e vender e mesmo se você tiver uma conta de margem dos EUA eles ainda convertê-lo em canadense para fazer extra de você que eu não acho que alguém faz.
Outra palavras, se você é um comerciante ativo, este não é um site para usar, desde que, se você fizer como 20 comércios, pode custar-lhe algumas centenas de dólares em custos de conversação, além de custos de negociação. quando foi E * trade o serviço foi muito melhor e rubbery não teve lugar na luz do dia brilhante.
I recently moved my account from Scotia itrade to another broker…What a difference. It totally confirms what I’ve believed and suspected before moving my account. Scotia itrade is the most incompetent, unprofessional service I ever encountered and until you have used another broker, you’ll never know. Do yourself a favour and DROP Scotia itrade. They are not only rude but on numerous occassions failed to take responsibility for technical errors and gliches due to their faulty servers, in turn costing me money. When a rep from Scotia itrade posts here, it’s just lip service. Do yourself a favour and don’t even consider Scotia.
Ah, eu esqueci de mencionar, é realmente sobre as opções não tanto negociar as ações que eu. Desde que eu tenho uma conta com dois outros corretores, notei isso.
Nunca é uma boa ideia vender ou comprar a preço de mercado com o comércio da Escócia desde que eu testei e comprei e vendi a mesma quantidade de opção em negociar uma outra plataforma ao mesmo tempo em dois ecrãs diferentes e pressionado introduzido com menos Uma segunda diferença e, para meu espanto, o preço de mercado tanto na compra quanto na venda usando o comércio era mais do lado da compra e menos do lado da venda.
Então tenha muito cuidado com esses caras que eles trapaceiam como se não houvesse amanhã.
m. n is right…Scotia ALWAYS scoops more of your money on each and every executed trade. I’ve noticed their bid and ask is always off the others…in their favour of course. Yes m. n. SCOTIA ITRADE WILL CHEAT YOU out of your money in more ways than you could ever possibly imagine. I think I’ll move my mortgage to BMO too, as Scotia is total BS.
I don’t know if you can open a U. S account or not but if you can and you trade options try option house. They have two types of charge program.
which you can choose your self one for 5 dollars a trade and another for $8.50 a trade and the good thing about is they only charge 0.15 cents per contract.
Unfortunately we pay too much in canada since as soon as a competitor comes along with cheaper prices they immediately buy them out and raise the prices so lack of competition always means paying more and the government doesn’t care neither since they are partner to the thief’s. the more they charge the more taxes they pay or that is the idea.
If you can’t open a U. S account then try optionxpress , they are a canadian outfit but operate from.
Thank you very much for the information you provided, it is very much appreciated. I’m sure things will start looking up for you now that you moved from Scotia i-trade…what a nightmare Scotia that was.. The day I moved my account out from Scotia, I felt like a huge weight was lifted from my shoulders..
Good luck with your trading m. n. and again, thank you very much for your input. Cuidar.
@m. n: We’re really sorry to hear about your experience and appreciate all the feedback.
I’d like to take this opportunity to share our account setup and some of the ways to avoid any potential foreign exchange conversion. You can have your cash/margin accounts denominated either in Canadian currency, U. S. currency, or both currencies. If the order instructions entered does not match the currency of your account, you’ll receive the following alert message: ‘This Trade will be Converted to the Currency of Your Account’. At this stage, you can click Change Order to review your initial instructions and to re-enter the order in your USD account to avoid any potential foreign currency conversions.
If you wish to proceed with your initial order instructions and acknowledge the alert message, a trade can be placed and the foreign currency conversion will be applied to the transaction. The actual conversion rate to be charged is not fixed until late in the trading day. For more detailed information on currency conversion, please visit, scotiaitrade/helpcentre/lcmmmbi3.shtml.
Please note that any loan in a CAD/USD margin account is collateralized by the stock, and if the value of the stock drops sufficiently, the account holder has the opportunity to either transfer more cash, or sell a portion of the stock to satisfy the account margin requirements.
If you have an account denominated in one currency and wish to add the other or would like us to investigate a trade, please contact our Customer Support team. We’re here to help and we’ll be happy to assist you. Feel free to contact me directly [nabil@scotiaitrade] with your questions or concerns.
We look forward to the opportunity to win back your business and to serve you again.
Posting this here because I confirmed with Itrade that they have the same trading issue that SMDI now introduced. You used to be able to have settlement instructions to sell BNS357 money market to cover a stock purchase. Now you have to guess how much the stock purchase will be and sell that amount of money market in advance, waiting a day or so for the proceeds to settle in the account, THEN you can submit a equity purchase order. Rationale was that they offer lower commissions BUT it doesn’t matter how low the commission is when they put a barrier to executing a trade!
Regarding Scotia’s recent website updates. Some of the changes were ok BUT some of the changes destroyed what was previously a useful web platform at Scotiabank. Clearly not well thought out. I’ve spoken to staff and the office of the president and they are getting alot of complaints. Change is one thing, but change making things worse!
Specific examples, not just involving scotiabank but also scotia mcleod direct investing select service.
1. Use to log in and have a ONE page summary of all accounts. Due to their formatting mine is now FOUR pages. I have to scroll to see all accounts. Part of the problem is they now report a line for CAD, US etc We have 2 moneymaster accounts, a visa, 8 brokerage accounts (2 tfsa, 2rrsp, resp, 2 cash accts).
2. SMDI will be transitioning accts to itrade.
March 2012. I have been a select customer for years. Now when I call I rarely get the select desk and ROUTINELY calls take 5-10 minutes to be answered vs 1-2 minutes in years past. UNACCEPTABLE service level. JD Powers ranked SMDI & Itrade at 2 out of 5 stars in 2010. With the recent changes I’d have trouble giving them 1 star. BMO investorline ranked 5 stars, TD and Royal were above SMDI/Itrade.
3. On the brokerage side, use to be able to sweep dividends monthly into the BNS 357 money market since subsequent purchases only had to be 50.00. Nov 1st they increased the sub purchase amount to 1000.00. That meant leaving cash earning no interest until it built up to the 1000.00 amt now! No alternatives.
I just got a newsletter (most people don’t have time to read or will miss the info) but I noticed at least thru SMDI they have changed the sub purchase amt back down to 100.00. So in less than 3 months they went from 50 to 1000 and now 100. Maybe they listened to the po’d customers and reconsidered but most people who were resigned to the stupid increase effective Nov 2011 won’t likely notice the reduced limit.
4. I just went to do a trade at SMDI. I used to be able to put in the trade order, and have settlement instructions to sell BNS357 mm (where cash was parked) proceeds to cover the stock purchase. Not anymore! Now you have to GUESS how much the stock trade will cost, sell the mm, wait for it to settle in a day or so, then you ‘hopefully’ have sold enough to do the stock purchase. Trader I spoke to said the rationale was that they don’t have to take the time to sell the mm to cover your stock purchase and you benefit from a lowered commission. EARTH TO SMDI…it doesn’t matter how low the commission is when you put up barriers to customers submitting and executing trades! The bank has taken a narrow view and seems to miss that they were making money in other departments ie mutual fund.
Scotia you dropped the ball when you integrated itrade and now you’ve dropped the ball with the website updates and other changes. Instead of making the online experience smoother you have complicated it for many of us!
Thanks for taking the time to share your experience, Dave. As always, we value every feedback provided to us and take the time to read them with the utmost attention. It is disappointing to read that the recent website updates did not meet your expectations, and that we’re not delivering the level of service that you, as our customer, deserve.
We’d like the opportunity to speak with you directly regarding these issues, but unfortunately have no way of contacting you. Please drop me an email with your contact information for us to discuss and regain your trust.
Estou ansioso para ouvir de você.
Hey Nabil, this is a forum for discussing Scotia i-trade amongst (generally dissatisfied) customers. It’s not really meant to be an extension of your company’s PR department. Scotia ruined what was once an innovative, well-run, customer oriented trading platform into typical big-bank crap. Your attempt to plug the PR cracks by hijacking the conversation on sites like this makes me dislike your company even more. Despite the aggressively ingratiating politeness used, you make me less smiley.
So true – ETrade wasn’t the greatest to begin with, Scotia has totally destroyed it. Which is a shame b/c I actually like some the bank’s other services! However their online brokerage has gone to garbage several years ago and only getting worse. My account with them was once fairly active, now down to maybe a few trades per year (and only the minimum necessary at that) – have gladly moved my business elsewhere.
And yes his obsequious fawning is annoying. Does he really think anyone’s going to buy that? Let alone anyone’s who’s actually had to deal with their ignorant and outride rude “customer service” team?! Que piada. Face it Scotia you blew it.
Since I’ve switched to Questrade, it’s like a huge load has been lifted off my shoulders. Firstly, they don’t “nickel and dime” you like Scotia itrade. You can also understand what the person on the other end of the phone is saying whenever you have a question. The commissions are HALF what what Scotia is charging. They are quicker, more courteous and more reliable, bottom line. If you would like a more professional approach in your trading, join Questrade.
I actually appreciate Nabil or whomever from Scotia responding in a timely manner to discuss the concerns. They do appear to have listened to customers concerns regarding the minimum subsequent purchase issue with the BNS357 money market. It was 50 then they raised it to 1000.00 and less than 3 months later after many complaints they’ve lowered it to 100.00. The whipsaw changes are a concern thought because had they surveyed customers before making the change they might have learned that it would not have a minor impact and would drive customers to other options…including other institutions.
I agree with Dave about Nabil. Anyone can carp but the real point to carping is to make things better, otherwise it’s just a waste of time and oxygen.
I was reasonably happy with SMDI and $8.95 trades, now I pay $9.99 which is about average and largely mitigated by the strong integration between BNS & ITrade accounts. I have spoken to the high net worth mgr who was very helpful and answered a couple of surveys. The staff have been responsive and helpful although telephone wait times can be annoyingly long.
The 50 ETFs that are commission free is a great offer that I use a lot. I also like the Quotes & Research tab quite a bit – scarcely a day goes by when I don’t find something new and useful there.
I don’t use BNS357 any longer as the return is dismal and it doesn’t automatically sell like it did under SMDI which was just about the only good thing it had going. I now use short term, zero commission, low MER bond funds instead. I find that sometimes it takes several minutes for spending power to show up after a sell trade. This is pretty annoying if you are trying to execute a buy in a cash account like RRSP.
I see a lot of evidence that ITrade is making efforts at improvement but they are new to me so I watch carefully. My brother who is a frequent trader just loves TD and thinks very highly of BMO. He won’t even consider ITrade because of the 90 day / 1% penalty on mutual fund trades. This policy has had the effect of zeroing out all new mutual fund purchases by myself in favour of ETFs. I own almost no mutual funds now and am not quite sure what to think of all this yet. It may be a good thing, I hope so, but I feel like I’ve been pushed in this direction.
Cam, SMDI provided a temporary solution to one of my concerns regarding selling MM to cover an equity purchase in registered accts (RESP, RRSP, TFSA) so I am satisfied. You do raise another point of contention with the commission free etf’s. While Itrade is offering a list of about 40, smdi is not doing the same. We have to wait until they transition our SMDI accounts over to itrade. I’ve been told they expect that to occur in the first quarter but who really knows.
How can you guys and gals go on and on for 2 years here and only 2 vague comments about the weak chart structure, no 200 dma or any others no basic volume indicator other than the ancient bar graph. Maybe charts and trading on an even playing field are important to you. Isso é como jogar futebol contra o Pelé, você acha que pode vencê-lo?
You might mention flight desk which is so totally un user friendly it blows my mind Scotia would even offer such a hard to navigate tool. Especialmente em US $ 60 / mês e baby boomers como seus principais clientes.
Just so many basic flaws, I could pick out in a day cretiquing, such as me qualifying for $9.99 trades, but initially charging me 24.95 plus an additional after-hours placement charge. I phoned they said, “it gets updated next quarter or some bs.” I missed all the tax loss selling bottom buying, because I’m not into getting screwed and don’t do well appealing my case. That’s about $4k gone. Quão difícil seria incorporar isso em sua plataforma de porcaria.
Usd conversões são, obviamente, um grande fabricante de dinheiro, eles podem cobrar o que eles querem. I made $2 a share on a Gold stock and was still down.
I don’t know how much training their employees get but it’s not enough they are fairly clueless. The trader I talked didn’t know the most basic stuff.
My password I use 10+ times a day goes invalid one day.
The security questions are a joke where do you live, what’s your phone number give me a break a scam could have a field day. Maybe check the phone I am calling from is the same one on fill, I asked they can’t see my number nor do they care.
De qualquer forma, além de sua brincadeira de plataforma, que eles me tranquilizem está mudando para melhor em breve. É que eu notei que eles são nulos e me matam até a morte. Verifique sua conta muito de perto por fraude bancária. Not that they will ever be charged, the untouchables beyond the law banks.
Would it be too much to ask to see where you are plus minus for year, this is the computer age 2012, Scotia get out of the stone ages. Relatórios financeiros de anos atrás, nem mesmo castiçais, ou médias móveis. I have to download every bit of company news, just link me. No need to read this whole forum this is basically all in one here.
I thought Scotia McCloud was bad, I couldn’t believe how prehistoric it was. I assumed this would be better nope it’s worse way worse. Pessoas, inclusive eu, têm suas economias de vidas aqui, e isso é o melhor que podem fazer. Até mesmo o Yahoo Financial é melhor, ele tem as ferramentas básicas necessárias para tomar decisões de investimento prudentes.
Have to agree with Chad. The last time i managed my own portfolio was 10 years ago with RBC. I signed up for itrade a month ago and omg. Basic stuff that I would have expected a decade ago is non-existant. Whats with all paper requirements. Give me a break. Not impressed so far. The platform and its capabilities would have been out of date.
Is anyone experiencing problems trading since they changed the account codes and passwords etc. on March 5, 2012?
As of April 2012 iTrade has increased trade commissions by 25%. I suppose this is to pay for their crappy new website. I did not receive a single notice of this huge increase during the millions of “Great things are coming” messages from iTrade.
It is time to say goodbye.
Circling the drain at the bottom of the toilet. Just logged into the “new” Scotia Macleod interface for the first time. If anything, basic information such as commission tier etc is even harder to find. What a total piece of trash this site/service is.
Even though moving accounts is such a huge hassle, I this may well be it for me. I’ve long since done all new business elsewhere, based on what I’m seeing so far it’s now time to transfer my last remaining account.
You’d be much better off simply buying BNS (through any other brokerage) and holding it, than attempting to actually use their interface to trade!
@Joe: We’re sorry to hear that you’re having trouble navigating through our new site.
On the new site, you’ll find the Trade Summary box on the right side of the page under the Accounts > Account Summary tab. Hope this information helps.
If you’ve any questions or suggestions along the way, please do not hesitate to contact our Customer Support team at 1.888.872.3388 or e-mail me at nabil-at-scotiaitrade-dot-com.
I have been a customer for years and every year think of transferring out due to unresolved service issues. Website etc is okay and can be improved but if you have a problem the service is terrible, frustrating, and can cost you thousands in some situations. Email service is almost non existent, they just say call in. Calling in means a long time on hold to talk to someone who cant help you.
The new site was not ready, as you can no longer take money from a margin account online. So you call in and they have changed the rules. They have an arbitrary 10% of equity amount you have to keep, which does not take into account how much of your account is in non marginable stocks. Totally stupid policy, but that is what you get at Scotia. And nobody is authorized to help the clients with reasonable requests. They will just keep repeating `we have a stupid new policy that we didnt tell you about`.
Nabil, can you explain this arbitrary 10% that is not based on how much margin/risk is being used? Can you explain why the old system had a different calculation and we were not informed? Can you explain why it tales 40 minutes on the phone to get nowhere and you can’t talk to anyone who can explain it?
It is like dealing with city hall, but worse as they have your funds….
STAY AWAY unless you just buy and hold a little… changing brokers is a massive hassle but I will move to Interactive Brokers I think as some friends have moved and are happy.
I will leave frustrated and hating Scotia, a truly horrible experience and I really try to be a reasonable and polite client.
@Paul: Thank you for taking the time to share your experience with us. We take every feedback seriously as it helps us to serve you better. Please allow me to answer your question regarding margin maintenance levels.
Excess margin (or buying power) can be withdrawn as long as the remaining margin excess is 10 percent or more of the remaining equity balance after the drawdown. For our mutual protection, maintenance margins must be maintained at all times to satisfy any possible volatile market activity and to prevent any margin calls after the drawdown. For instance, loan values could change from 70 to 50 percent or drop down to zero if holdings in the portfolio have loan removed; or open buy orders, if filled, could cause a margin call to occur; or the account may have security concentration issues. Our margin drawdown policy has been in place for some time, and terms of our margin accounts can be found in our Terms and Conditions under the Client Account and Margin Agreement section.
We understand that at the time of website and service transition, our customers may have experienced longer than usual wait times. We sincerely appreciate your patience and apologize for any inconvenience related to this transition.
We value your business, and are here to help and answer your questions. Feel free to email me directly at nabil-at-scotiaitrade-dot-com with your questions or concerns.
Estou ansioso para ouvir de você.
Customer Service is terrible and a common term used is “call us” is equally useless. Does itrade not understand that in this age and time not everyboday is available 9 5, ever heard the term shift worker?
Nevertheless, Don’t even try to use their online forms, garbage!! and useless!
Made the mistake this January, wanted to add a TSFA trading account to my portfolio, so I called their customer support and was told, no problems, just fill out the on line application and you’ll be all set……Soooo I filled out all the forms to transfer a TSFA account to itrade, apparently, not good enough; but, do you think someone would tell me?? nope, I’ve had to call, email and chase to find out why it was not processed. Each and everytime I contacted someone, I had to explain, and re-explain my situation over and over again. What a waste of time, NEVER had such hard time trying to put money into a bank before. The funny part of it is that to date, I still don’t have the account. Look elsewere people, you’ll get nothing but fustration and confusion when dealing with itrade.
Thank you for your response. I do understand that margin rules need to exist and be enforced. The problem I have which you did not address is that the 10% of equity rule includes non-marginable securities. example you have an account with 100K, of which 30K is marginable. So you have to have 10K margin excess to cover the volatility of 30K of securities, as the other 70K will not impact. In fact they decrease risk to Scotia as they could be sold if needed. So if I want to sell a non-marginable security and have 2K sent to me I likely cannot, despite the fact that selling this has had no increase in margin risk! I only borrow against marginable stocks, but the others get tied up.
Also, I can buy the riskiest stock I want with the margin excess all the way until my excess is 1 cent… that adds more risk than a withdrawal… not logical.
So my solution is open a cash account and move my non-margin stocks into it. Now I have a true margin account left behind… and my cash account is not compromised. but all this extra work and paperwork and transfers is completely unnecessary if anyone in iTrade management cared enough to listen to their customers.
I expect most Cdn bank brokers would have similar frustrations but of course you dont know for sure until you try. I recognize that for cheaper commissions you should expect less service and caring, and I get frustrations with my full service brokerage also. But I used to trade in the US with TD Ameritrade and their system really is built for traders, no comparison. I am thinking of trying Interactive Brokers as they are available to Canadians, sad that we dont have Cdn brokers who care to compete when they could with good mgmt.
What Scotia and others dont realize is how much their business is damaged over the long term. My accounts will probably stay open, but have been and will continue to shrink, and my trading activity is way down. Eventually I will probably have just my RSP and TSFA left unless I move them to Questrade, just occasional trades anyways… and 90% plus of my trades will be at Interactive Brokers ( they dont support RSP and TSFA I think). Scotia never had a transfer out, but they lost 90% of an active trader’s business and wont care why.
The new website is an improvement over the old one by quite a bit I will say, the old one was not great. And I think margin interest rates are reasonable. And good to see trailing stops, not sure if the old system had that. The service people can be good, but they are in a badly managed structure. As a Canadian I am sad to see the lack of entrepreneurial spirit in our banking system, they rely on the lack of competition domestically to coast along. If they need more profit they just raise fees or lower service, nothing improved.
Uau & # 8211; and I thought I was alone in the world. iTrade gets worse with every change – if they had just left it the way it was when they bought out *ETrade. Why did they buy them? To gain accounts which they then proceed to drive away with crappy service and constant incomprhensible changes.
Flt Desk was a small improvement – but such a hassle to configure with old symbols. Current changes of how you view your accounts is kindergarten stuff. CRAP! I could go on and on if I dug into the 50 or so emails I’ve sent over the past couple of years.
And then today – no access to Flt Desk. I know I’ll hit ‘contact us’ and send an email. NOPE – email server ain’t working. WTF !
I’m in the process of considering that pain in the arse process of treansfering my acccts out. Hate to do it, but iTrade and the morons who initiated all these useless changes – don’t deserve my business.
Thanks all for comments on better brokerage houses.
Okay – an Update:
First off – I agree with Dave and Carm – if iTrade is monitoring these complaints and want to actively engage us with solutions – that is great. I’m not into screaming my lungs out in anger at the darkness.
I left some pretty good clues’ about who I am – plus a personal email to iTrade – and today I received a phone call from Nabil. We went through my grievances one by one – and we were able to resolve the outstanding issues, and I was able to give some feedback on what I like – don’t like – and future changes.
I have to admit – that one (main) problem was my own fault (account fell below a level where Flt Desk is free), but that was rectified.
Nabil is gutsy – professional – and most of all – sincerely trying to help.
I will be staying with iTrade – and hope future ‘proposed changes’ & # 8211; include feedback from people like us.
That sure beats the aggravation of going through an account transfer process – and starting with a new brokerage firm who may not give a ratz arse about whether or not you have problems. At least here I now have a connection with someone who will work with me when I have a problem. And that same person/connection – Nabil – is available to all of you.
Give him a call – it just might help.
I can relate to all the complaints about Itrade.
The customer service people ARE rude and obnoxious, with their favorite solution to flightdesk not working is that there is a problem with the customer’s computer.
Must be the only part of their script they understand!
I have made several complaints to their head office,,all of which were ignored.
Transfering an RRSP from a local ScotiaBank branch took over two weeks, and a huge amount of paperwork. Maybe the taxi they used to transfer the paperwork broke down.
The problem with Itrade is they have a bankers mentality towards customers. Itrade seems to feel they are doing us a favor by letting us be customers. If this poor service continues I will do them one last favor by transfering to another broker.
I currently have an account with Itrade. And I am very frustrated with them. Service is terrible.
Their forced conversion fees are disgusting. In my TFSA account I am holding US Steel. On paper I have a 19% gain , but in reality on the account it shows that I am making only 11%, which means that 8% is being syphoned by Itrade in fees and comissions, WTF!
So If I would have been making 5%, at the end I would lose 3% with the fees and commissions!!
They only offer US friendly accounts in RRSP accounts, none in LIRA or TFSA. This is because it is way too profitable for them to keep it that way. And on top of that once you sell a security they forcefully convert it back to Canadian dollars at a “reasonable rate”, problem is that also with conversion of currency there is a spread, so you end up getting hit anyways. And they also charge you 120 dollars per year for maintenance of a US friendly RRSP account. What planet is Itrade living in?.
I was looking a few months ago to become more of an active trader, so I was looking at reducing my comissions. So I noticed that CIBC charges 6.95 per trade if your asset level is over 100,000. Currently I have 240,000 in investment assets with Itrade, so I figure I would call to see if they could match it. This arrogant guy Todd had the chutzpah to tell me that they could give me 6.95 with the condition that in the next 3 months I could deposit 50,000 more in my accounts. So he was willing to give me this price for 3 months if I would meet that requirement. WTF!! Buddy what about if you don’t give me that, I go somewhere else. I sent an email to a customer service manager 5 months ago with no response this far.
Now, the issue with Flight Desk, which I do not have. What is the big deal about it? they offer it like it is a revolutionary thing for 70 dollars a month if you have less than 250 thousand in assets. Interactive Brokers offers this as a standard platform for free. You only have to pay 6 dollars per month for live data of Canadian stocks. Scotia Itrade should be ashamed for charging this.
I am in the process of switching. I was looking at RBC direct Investing.
If you have over 15000 in total assets they do not charge you any maintenance fees.
They have US friendly accounts in TFSA, RRSP and LIRA, which is good for me. No forced conversion even after you sell the security, in other words funds remain in US dollars.
Trades are 9.95 if you hold >50000 in assets or if you make 30 trades per quarter at least.
Scotia Itrade needs a reality check. Sweet soft words from a customer service rep are not enough. Customer loyalty does not mean a thing for these people. I know sometimes change is a pain, but I realized that staying with ITrade is costing me a lot of hard earned money.
I am a Canadian who just recently moved back to Canada from Sacramento, CA USA. I still have my US E*Trade Financial Global account and Schwab account that are all Canadian stock securities. Eventually, I will have to open a trading account(s) in Canada and go through the setting up process and transferring of assets. After reading the many horror stories with ScotiaiTrade on this website I wish to know which provider is best. Who should it be? TDW, CIBC, RBC etc.?
Also, how will my E*Trade Financial Financial and Schwab account managers transact the transition? Will they sell all of my positions to cash in US funds now that the Canadian dollar is $.93 or transfer all Canadian stock positions directly into TDW, CIBC, RBC, account(s) that I set up etc.? Does anyone know?
JW in Victoria, B. C.
James – I went thru the E*TRADE – iTrade transition and as an etrade fan I was not happy. There were lots of glitches along the way and I made lots of nosie about it. I was then contacted by Nabil Uppal at iTrade. He was patient and thorough in helping me work thru the transition. A lot of the problems were on my end. Either way I got them worked out and I am real happy with iTrade system – costs – and trading platform Flight Desk.
My guess is iTrade will handle your transfer (their forms) and transfer all holdings and cash you have in your acct. In Canada for sure – US side I’m not sure, but would think its the same.
Welcome back to Canada – I’m out in Sidney.

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