As 2012 draws to a close, it looks like the discount brokerage industry is going into autopilot. This past week saw the expiry of a couple of promotions. First, Scotia iTrade’s 100 days of unlimited trading offer expired this week. This leaves Questrade as the only discount brokerage currently offering unlimited trades. Speaking of Questrade, their “Ring the bell with Questrade” promotion also ended this week. The winner of this contest will be announced this upcoming week on December 20th.
Jitneytrade announced this past week that they’re “going green” by offering paperless statements and trade confirmations. If you choose to continue to use paper statements and confirmations, however, be prepared to shell out some major green – paper statements will cost $20 and trade confirmations $1 each starting February 28th 2013. For more information – click here.
Best Discount Brokerage Tweet of the Week
Thinking about investing in “penny stocks?” A lot of investors are lured into the low prices and potentially huge gains – but often overlook the bigger risks. This week’s tweet by National Bank Direct Brokerage’s parent @nationalbank was a good overview of some reasons to think twice before turning to penny stocks. Read the tweet here.
This week (December 18th), Morningstar’s Director of Economic Analysis, Bob Johnson, will be presenting a forecast for the economy and investing in 2013. For more details, click here.
The People Have Spoken
A really interesting discussion was sparked by a Red Flag Deals forum member asking about why retiring baby boomers or ‘young guns’ appear to not be investing? Check out what dozens of folks had to say about this here.