A Stock Investments and Research Blog

Sunday, November 19, 2006

What I should of done a long time ago. QuestTrade

Trading has sort of discouraged me because of the high rates I have with TD Waterhouse. Since I'm in Canada, not all brokerage services are accessible. Price per trades were 29.99. That means in order for me to make a profit, I had to have my stock go up and cover 60 (buy and sell) plus more. The profit margins aren't so high. On top of that TD Waterhouse charges other account fee's over the year.

I want to be able to day trade, do a couple trades a day. In order to do this the fee's would have to be low. I want to have some trading software that allows me to execute trades from a single desktop application. Every professional uses some type of software, I better start using one and learn all the ins and outs.

My brother the owner of Stock Market Blog (turning 20k to 1 mill), uses Cybertrader and thats where he gets all those neat looking trade activity screenshots. But he suggested I use Questtrade.

Questtrade offers trades for only $4.95. It also has CyberTrader Pro platform, a desktop application. A quote about what the company has to say:



"CyberTrader Pro® 6.0 is the most sophisticated direct-access trading platform ever developed. No retail trading software comes close to offering a similar range of functions, data streams and order controls. This is simply the best trading tool available to sophisticated traders who require the flexibility and reliability that only CyberTrader can deliver."



I went and signed up with it's easy process. Completed all the docuements and am waiting for my account to be moved from TD Waterhouse so I can start to truly be a trader.