|
|
|
| You Are Here: Home > Assorted FAQs > Question and answer |
Why we use and recommend
the broker TD Waterhouse
|
|
We're happy to promote the excellent broker TD Waterhouse because it's also the broker we use and believe me, we don't do business with any broker unless it passes certain tests - the main ones being -
- They have to offer competitive costs
- Good online software, and
- The company has to be able to offer financial stability, ie be well capitalised
Sadly and relating to point 1, too many people are paying excessive fees and charges by their present brokers. In some cases the fees are so large the client seems to be working for their broker rather than the broker working for them.
|
| Why we like and use TD Waterhouse |
|
- Excellent value commissions - £12.50 per trade, less if a frequent trader
- Good online software - Browser based so access your account from any PC
- Easy account opening process - All online
- No administration fee - Always be on the lookout for sneaky fees
- Free transfer in of stock (held with a different broker) - Some brokers charge
- Discounted initial charges for funds - Check on this though
- Trade on 17 international stock exchanges - Easy access to different stocks
- Financially secure - Owned by The Toronto Dominion Bank, North America's 6th largest
So if you're looking for a new broker, possibly because your present broker is charging too much, then consider TD Waterhouse as their overall deal is very hard to beat.
|
| Another broker to consider - Interactive Brokers |
| We also have an account with www.InterActiveBrokers.co.uk, probably the largest online broker in the world.
They're also excellent and offer cheaper commissions and more products than TD Waterhouse. However, their deal is not for everyone as -
- No telephone support - they are a true online broker so all trades have to be done via the internet so if your connection goes down, there's no way to deal
- Complex and sophisticated trading software - Complex is great if you want to do complex trades and deals, especially in products lsuch as options. But if you're a casual investor then a complex playform might be too much
- Accounts are geared towards professional traders/investors - InterActive make all clients take an online exam before approving the application. Fail that and you cannot open an account
When to use Interactive over TD Waterhouse
If you need a complex trading platform, offering plenty of different instruments, and are a heavy trader (in excess of 10 trades per month) then consider InteractiveBrokers.
But if all you want to do is buy and sell the occasional shareholding, perhaps you're more interested in long term investing, then go with the TD Waterhouse deal.
|
|
|
|
Navigation: Assorted FAQs section
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
