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Gold/Mining/Energy : Internet trading by Canadians

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To: twentyfirstcenturyfox who wrote ()	3/30/1999 7:34:00 PM
From: Jim	Read Replies (1) of 28

I traded using Canadian brokers for two years ETRADE, NETACTION, but could not compete with US traders for two reasons. 1. Because the rates were in US$ ie. the ETRADE minimum commission using E*TRADE US was 14.88US but in Canada it was $27.00US. 2. In Canada, all trades must first be "approved" by a licensed broker to be sure the trade will meet your stated investment goals. (hence the higher fees I guess). Can you imagine if your goals were conservative, but you heard a "sure thing tip", put in your order and it was rejected by the broker while the stock skyrocketed! The problem is if you follow the market, and put in a buy or sell, the market could move away from the price before you get filled while the order is on someone's desk. Effectively, you are NOT trading on-line, but sending the broker an E-Mail. I now use a US discount brokerage, and my trades are filled in 2 seconds.

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