Learning Objective – Discount Brokerage Education Resources:
- To understand the different educational resources currently being offered by Canadian discount brokerages
Increasingly, Canadian discount brokerages have begun to recognize that retail investors require tools and resources in order to support them in managing their own trading activities. Fortunately for retail investors, the quality and diversity of resources is improving. While some discount brokerages have very basic resources, such as glossaries of key terms that count as their “education” section, other discount brokerages, such as TD Waterhouse discount brokerage and Scotia iTrade, offer a number of investor education events both in person and online.
Types of “educational” content
The types of educational presentations that discount brokerages offer usually fall into the “informational” type or the “product orientation” type. Sometimes there is a mix between the two types, where educational content is presented alongside a specific product, like a trading platform. Often times, discount brokerages will open up events to existing clients as well as to non-clients in the hopes of being able to generate new business from those that attend the seminars, so be prepared for sales pitches or offers and promotions that are time-limited. While there are times when you can land a great deal, it is wise to fully understand what you’re going to commit to before signing up on the spot.
Often, modules are presented by experienced teachers or partner organizations that work with a discount brokerage. The topics presented can cover a wide variety of topics ranging from getting started with trading to more advanced strategies and techniques. Most educational resources provided by discount brokerages today is geared towards beginners. For that reason, some information and lessons are presented by staff members or business development associates that don’t have an in-depth background as a trader and/or teacher. Be sure to ask about the background of the ‘instructor’ to gauge how well-versed they are in discussing the topic they’re presenting.