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An even cheaper brokerage is Tradefreedom.com starting September 2006 it's $9.95 per trade for US Equities and Canadian Equities priced $0-3
>$3.00 - up to 1000 shares,1 cents/share after
You can trade forex(foreign currency exchange). I don't think TD, BMO, CIBC, CredentialDirect, RBC allow forex.
The cheapest brokerage in Canada is interactivebrokers but you gotta be 21 to open margin account.
PS. Always open a margin account. You may not want to borrow $$ from the brokerage firm but it cancels the 3 day wait period when you buy/sell a stock.
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