I have a brother in law in Ontario. He would like to invest in a particular penny stock ( I know they are not recommended). His brokerage firm, like most, won't be able to purchase pinks. He lives in Coburg. Is there a good online, simple, equivalent to Scottrade in the area? We live in Michigan and use Scottrade but it's not in Canada. Not sure if Etrade has a good reputation, and/or is it stable? There is TD Waterhouse but not sure if you can buy pinks.ThanksTrudy
State/Country relating to question: Canada
Did online research but still not sure what can be the best answer.
You can use etrade or TD which is owned by the Canadian bank, of course. I might also.suggest that you open an account with Fidelity, as they are very competent in trades in pinks, and have very good customer service reps who.are.licensed and can help you place the trade order if there are any issues.Good luck to you. I wish you all the best.
Experienced business lawyer.
Just one follow up question. Fidelity may be better since he is NOT experienced and may find doing all his trades online difficult. We would help but too far away. Are they much more expensive for trades ( Scottrade I know is very inexpensive with $7.00/trade).Thanks very much for the info.
Fidelity is generally about $15 per trade, but well worth it for the quality of their reporting and the availability of their customer service reps who are very knowledgeable and can assist you 24/7. Totally worth the slightly higher price.
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