With the World Cup now officially over many folks can get back to their regular routines. Of course for many traders, staring at a screen all day only to have nothing happen is a regular routine. Don’t be fooled by the calm, as things can (and usually do) change quite quickly. Soccer or no, for Canada’s discount brokerages, the game is still ‘afoot’ and this past week they showed that they’re still out to try and win the attention of DIY investors.
In this week’s roundup we look at some important news from Canadian securities regulators, a pair of deals launched from two online brokerages and showcase some interesting perspectives from the Canadian investor forums.
Making a Statement
A sound financial system is built on trust and transparency. For retail investors, the importance of being able to know what they’re buying and what they’re paying for are crucial to maintaining confidence in the capital marketplace. This past week, a series of important new rules about how fees are disclosed to investors take effect. Check out this article from the Getting Smarter About Money blog that provides a great explanation of the latest and upcoming changes.
Looking Out for Investors
In another regulatory-themed post, (this one from the BCSC site InvestRight) is an important reminder that getting approached or contacted about “investment opportunities” isn’t always above board. This post highlights a number of companies and/or individuals that have raised red flags with regulators. Several of Canada’s major securities regulators regularly publish alerts and provide guidance on how to handle individuals/entities that may approach you for an investment in ‘the next big thing’.
Sunny with a Chance of a Deal
While most people are out enjoying the summer sun, a pair of Canadian online brokerages are attempting to make it rain.
Putting Rates on Ice
On the heels of their recently successful iPad mini campaign, National Bank Direct Brokerage has followed up with a margin account promotion (Canadian margin account specifically). The deal offers a discount on the margin borrowing rate for 3 months of 1%. Check out our online brokerage deals and promotions section for more information.
Save the Date
When it comes to offering deals and promotions, Questrade is certainly one of the most active. With so many deals on the go, it’s interesting to see things continue to get a bit more creative than the ‘cash back’ or the latest iPad mini. This past week we spotted a new offer from Questrade that offers clients one-commission-free-trade per month for up to two years. For many reasons this was an interesting deal, most notably because it competes with several other existing offers. Given the uniqueness of this offer, we put together a detailed look at Questrade’s latest deal here.
From the Forums
Clearing the Bench
Asking one of Canada’s busiest forum of deal hunters which online brokerage they use is a great way to create a bit of a scrum. In fine fashion this post on Red Flag Deals did just that and, in tacky click bait form, what happened next probably wouldn’t surprise you.
Leaving the Group
Savvy investors know that controlling costs can be as important as generating returns. In this post on Reddit, Investor’s Group got put in the cross-hairs of one investor who was rethinking the value of the fees they pay.
A Marginal Trade
The mechanics of trading and order settlement are things that most investors (especially beginners) overlook. An important consequence of that settlement process is when you need to have funds in your account and when (or if) any margin might be used to cover the payment for an order. This article from an investor on Red Flag Deals’ personal finance forum is a good example of why knowing what’s moving where and when is important to know.
That wraps up this edition of the roundup. Have a great weekend and plenty of fun trying to stay cool.
The word heading into the end of this week: Drama. This weekend it seems no matter where you look there is some source of incredible drama. An Argentinian team playing for the World Cup final in Brazil, LeBron ‘going home’ to Cleveland and rumours of Eva Mendes having Ryan Gossling’s baby – wait what?
This past week has been filled with many reasons to look skyward. Canada Day, Independence Day, and new all-time highs on major market indices. Add to the mix that it is the beginning of a new month and that we’ve passed the halfway mark on 2014 and there are even more reasons to smile.
We kick off this week’s discount brokerage roundup with a little investing inspiration from the beautiful game. The inspiration is not that one can stare at a screen for hours only to see nothing change (hint hint to the traders out there) but rather that when things are fiercely competitive, don’t put it past opponents to try and take a bite out of one another’s business.
It seems fitting to launch this week’s discount brokerage just ahead of the longest ‘day’ of the year. As the markets have proven yet again, the longs have it. Like the balance between day and night, however, there will inevitably be a shift. When that shift will happen, however, is anybody’s guess. For the moment, discount brokerages (north and south) are basking in sunshine, a thawing in investor attitudes towards participating in the market and hopefully not looking down.
The Stanley Cup, the NBA Finals and the kickoff of the World Cup – between any or all of these major events it’s hard not to think about all of the fierce competition going on. Of course competition can bring out the best and sometimes the worst in the athletes. Online brokerages also know a thing or two about the heat of competition – sometimes driving innovation for the better and other times pushing things into a bit of a grey zone in the benefits department.
Another day, another new high – wait is it déjà vu all over again? Impressively, the major stock markets feel like a 