hey how's doin guys happy family day or
happy Presidents Day for those of you in
America in today's video I'm gonna be
explaining the different types of online
brokerages that are out there if you're
looking to and start investing your
money either in stocks bonds ETFs or
even options if you want to be a little
bit more risky I'm going to be
explaining the different pros and cons
of each of them but by the end of this
video I'm gonna explain to you the the
brokerage that I use and it's actually
one that's not very popular it's not
quest trade it's not well simple it's
none of the big banks it's one that I
use and I recommend to most of my
friends and I'm gonna explain to you
exactly why in a second
I want to give you some quick added
value I actually found a new index fund
that is actually performing better than
the last index fund I recommend it to
you guys
in my previous video this new index fund
that I found is actually ticker symbol
xqq and it's actually shares or a black
rocks fund which mimics the Nasdaq 100
and over the last five years this this
new fund this xqq has actually performed
a lot better than the S&P 500 if you had
an been invested in this xqq fund since
the beginning of this year you would
have gotten about a nine or ten percent
return and that's because the nasdaq-100
fund basically is more concentrated in
tech companies like Apple Microsoft
Google Facebook whereas the sp500
it's more of a broad range of companies
they're more diversified so you're not
gonna get a huge return but you're also
not gonna lose as much so it's less
volatile than the Nasdaq 100 but if you
look at the performance of the Nasdaq
100 fund in the last five five years you
would have made more money so that's
just a little bit of quick cooking value
that I want to share with you guys
something that I learned this week
please like and subscribe if you found
that valuable and I'm gonna get straight
into this video let's go
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the first broad range of brokerages that
are out there are with the big banks so
the big banks include TD Bank RBC Bank
of Nova Scotia now I want to say
that the advantages of using these five
banks is that the transfers between from
your cash from your checking or savings
account into your TFSA or RSP is
instantaneous you can literally start
trading in your TF assay and about a
click of a button another advantage that
I found using these five banks is that
the information you receive is
instantaneous and it's always up-to-date
so for example if you want to check on
your positions during the marketing
hours between 9:30 and 4:00 p.m. the
positions are constantly being updated
so you'll see how many games you've
gained
how many losses you've had whereas an
other options other brokerages sometimes
those positions aren't as updated as
frequently another advantage of using
these banks is that you get more service
so if you need help or if you need some
sort of technical support you can
contact these banks and they'll give you
very good service they're very hands-on
in their how to kind of walk you through
the trading platform which is a very big
advantage if you sort of need that help
now some of the cons of using these
banks is that it's very expensive the
minimum trade that you can make on these
banks or the minimum Commission is
actually $9.99 and that's a pretty big
Commission if you're if you're a smell
if you're just starting out and you're
looking to get into investing a ten
dollar commission fee in and out so if
you buy stocks you have to pay $10 and
if you when you sell your stocks you
also have to pay $10 so it's a $20 hit
already and if you're buying let's say
one share that's worth $100 $20 is
already 20% of your of your position
they incentivize you on making sort of
day trades oh by the way guys I actually
got this new little gadget here it's
called the ledger nano S I actually
picked it up this week I actually do
invest
cryptocurrencies I'm mostly in Bitcoin
and aetherium I'm a very big believer in
cryptocurrency and how it's changing the
world so I did pick this up I highly
recommend it for those of you who are
investing in cryptocurrency but anyways
guys so another big online brokerage
that a lot of people use is one called
quest trade here in Canada's quest rated
Commission's are 495 minimum and all the
way up to 999 maximum and they tell a
one cent share fee which is a great
Commission structure so what that means
is if you purchase 495 shares the
minimum amount of your Commission fee
would be $4.95 but if you use let's say
2 by 999 shares your Commission fee
would be $9.99
but let's say if you were to buy 1,500
shares of Apple Google or whatever the
maximum amount you would pay is $9.99
which is similar to what you'd be paying
at the big banks and that's sort of an
advantage and a disadvantage it's not
what I personally use but I have heard a
lot of my friends saying that it is a
good platform platform to use one of the
cons and disadvantages of using Quest
trade is that it can take a bit of time
to get your money from your checking's
in your savings account into your TFSA
or RSP with quests trade that is sort of
the sort of disadvantage you lose when
you not using the bank's platforms it
does take about 2 or 3 days to get your
money from the bank to quest rate which
is not that big of a deal but if you're
looking to get your money in quicker
then that could be a deal breaker for a
lot of people another disadvantage of
using Quest trade is that it's a very
hands-off approach you do not get the
same level of service as you would at
the bank's but from my experience the
service that you do get that at the
banks is not great or beneficial in any
way unless you are a total newb and you
completely need hand-holding
then I would say stick to the banks for
it probably 90% of you who do with your
own investing I would definitely say
quest trade is a good option like I said
it's not the option that I use but it is
an option out there now the last online
brokerage that I want to share with you
guys which is the one that I use is one
called virtual brokers and this is the
one that I share with all my friends now
the great thing about virtual brokers is
they actually have a much lower feed
than quest rates and they actually tell
a 1 cent per share commission structure
which is similar to quest rate but their
minimum Commission fee is $1 99 and the
maximum amount of the Commission
structure is $7.99 or $8 so you're
actually saving a little bit of money
using virtual brokers the cons are also
similar to quest rate and that you do
not get any level of service I would
actually say the customer service at
virtual brokers is pretty bad
they do have a hotline a phone hotline
where you can call and talk to someone
but for the most part it's kind of dodgy
but that's kind of the price you pay
yeah guys so this is the high-level
overview of these online brokerages that
are out there I hope you guys found this
useful also let me know what kind of
stocks you guys are looking at one of
the more interesting ones that I've been
looking at is Virgin Galactic ticker
symbol SPC II it recently went IPO about
a couple months ago of two or three
months ago and it's just had a huge run
up from about six or seven dollars all
the way up to about twenty eight dollars
I did put a little bit of my money in it
a couple weeks ago I will be following
it in the next couple of weeks or months
a few other ones include uber and Nvidia
anyways guys I hope you guys enjoyed
that video let me know in the comments
section what you guys are looking at and
I'll see you guys in the next one bye
bye
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