Online Stock Trading On The Canadian Stock Exchange
Two of the major Canadian online stock trading companies are Interactive Brokers Canada and E*TRADE Canada. Interactive Brokers Canada Inc is regulated by the Investment Dealers Association of Canada and the various securities commissions. Their main office is located in Montreal, Quebec, Canada. Established in Dec 2006, IB Canada Inc is a member of the Interactive Brokers Group, which is a leading global electronic brokerage company. I B Canada supplies its customers with direct, high speed, access to trade markets world wide. It offers stock trading online, but before you can begin trading you must first complete all tasks involved with an online registration and account application process. The customer agreement shareholder instruction form B & C must be signed along with a consent form to electronic delivery. You must then mail the signed forms plus a one dollar Canadian check to Interactive Brokers Canada. The one dollar check is non-refundable and will not be deposited to your account. In order to comply with anti-money laundering requirements for Canadian online trading, IB Canada collects the one dollar Canadian check to meet the verification requirements involving its customers. Another requirement to be met before you begin Canadian online stock trading is to fill out a W8 form. This form must be completed by Canadian citizens who have an account with IB Canada although this is a Canadian company. The reason for this is because customers there have the opportunity to trade in U S products earning interest and dividends. To satisfy the IRS the W8 form has to be completed. I B Canada does not wish to withhold money from the Canadian customers to pay U S taxes so they use the W8 form. If a customer refuses to fill out the form then their account will be closed. E*TRADE Financial was established in 1983. From this founding company E*TRADE Canada was established as a Canadian online stock trading company. Today E*TRADE is a leader in worldwide financial services. They boast millions of customers in more than forty countries. This online Canadian stock trading company offers the value, ease, and service. Value – E*TRADE Canada offers advanced technology which is user friendly. It has low fees and a wide variety of services and products. Ease – They offer services which makes the best of your important online investment. There is integrated access to all of your E*TRADE accounts. Services – The Canadian online stock trading services gives you various types of services such as online, telephone, and in person. There are service representatives available seven days a week for your support. There is also a team specialist available for active traders. Along with the parent company E*TRADE Canada is part of an S & P 500 Company. They have $178 billion in customer assets. In July of 2006, E*TRADE boasted over 4.3 million customer accounts.
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