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starglazer · 08-13-2006, 12:04 AM

Being with TD doesn't mean TD is more convenient. Although TD is the only bank that I see where in downtown Vancouver they have a TD Waterhouse firm with free newspapers and tickers on the site specifically for investors.

ALL brokerage firms use Electronic Funds Transfer. It is free unlike wiring. I use credentialdirect. I login to my credentialdirect acccount and select transfer from chequing account. The brokerage firm automatically links your banking account to your account when you sign up. It takes 1 business day and i can trade the next day using that $$$.

ALWAYS SIGN UP FOR MARGIN ACCOUNT AND SAY YOU ARE NOT A NEWBIE INVESTOR.
There is a settlement date with all investing account. Every buy/sell order takes 3 days for the money to be available in your account. With a cash account you cannot daytrade and/or active trade conveniently.

EX) I buy 10,000 shares of MLXO at $0.07 on August 14. If I had a cash account I cannot put a sell order until August 17 the settlement date. What if on August 15 MLXO went to $0.08, August 16 it dropped to $0.03 and on August 17 it dropped to $0.04 cents. Now it's August 17 and you put a sell order for $0.08 cents to make profit. Highly unlikely that it will go back up there from $0.04.

With a MARGIN ACCOUNT you can place order to sell MLXO on the same DAY you bought it.

So unless you are into medium/long term trading. I recommend not going into those unless you are rich and invest in banks, big companies that have stock over >$10/share to begin with.
Otherwise go back to your 4% GIC, ING DIRECT savings account.

08-13-2006, 12:04 AM	#111
starglazer NOOB, Not Quite a Regular! Join Date: Apr 2006 Location: Burnaby Posts: 29 Thanked 0 Times in 0 Posts Failed 0 Times in 0 Posts	Being with TD doesn't mean TD is more convenient. Although TD is the only bank that I see where in downtown Vancouver they have a TD Waterhouse firm with free newspapers and tickers on the site specifically for investors. ALL brokerage firms use Electronic Funds Transfer. It is free unlike wiring. I use credentialdirect. I login to my credentialdirect acccount and select transfer from chequing account. The brokerage firm automatically links your banking account to your account when you sign up. It takes 1 business day and i can trade the next day using that $$$. ALWAYS SIGN UP FOR MARGIN ACCOUNT AND SAY YOU ARE NOT A NEWBIE INVESTOR. There is a settlement date with all investing account. Every buy/sell order takes 3 days for the money to be available in your account. With a cash account you cannot daytrade and/or active trade conveniently. EX) I buy 10,000 shares of MLXO at $0.07 on August 14. If I had a cash account I cannot put a sell order until August 17 the settlement date. What if on August 15 MLXO went to $0.08, August 16 it dropped to $0.03 and on August 17 it dropped to $0.04 cents. Now it's August 17 and you put a sell order for $0.08 cents to make profit. Highly unlikely that it will go back up there from $0.04. With a MARGIN ACCOUNT you can place order to sell MLXO on the same DAY you bought it. So unless you are into medium/long term trading. I recommend not going into those unless you are rich and invest in banks, big companies that have stock over >$10/share to begin with. Otherwise go back to your 4% GIC, ING DIRECT savings account.