 So today we're going to be talking about day trading brokers in Canada, because if you're located in Canada, you know how complicated it is to find the right brokers because they're all good at something, but they're not good at everything. So I'm going to be breaking down which broker I prefer the reason why and also compare it to the other ones that are available in Canada. So if you're looking for a broker, this video is going to be super helpful for you. And I'll also link all the tools that I'm using to day trade in the description. So if you're looking for a broker, scanner, charts, or news feed, everything will be linked down below. So the three brokers we're going to be comparing today is going to be interactive broker, thinkorswim, Canada, and Questrade. I'm not going to include trade zero. And the reason why is every time I made a video about them, a lot of people were complaining that it was a scam in the description. They were having platform issue. The broker was not refunding amounts of money or something like that. So I'm going to just leave them out until everything is cleared on their side. So the first broker we're going to be breaking down is going to be interactive broker because there's a lot more to talk about with this broker than the other one. So first of all, when it comes to commission, they're definitely the cheapest one out of the three. But there's other things that are important to know if you're looking for brokers. So commissions are one thing, but there's also going to be platform. So when it comes to interactive broker, they have their own platform, which is called TWS, which is a very complex platform that is extremely good when it comes to options and also trading and more investing. If you're looking more for an active trading platform, which is good about interactive broker, you can link it to Das Trader or Sterling Trader Pro, which is our more focus on really day trading and more simple platform than TWS, which includes newsfeed and stuff like that. So when it comes to commission, the commission structure I use is the tier one. So we're going to click on it and see what we have over here. So if you're trading less than 300,000 share, you're going to pay 0.0035 per share, which is extremely low. If you're trading even more volume, it's going to get even lower, that's even better. And you also have a maximum of 1% of your trade with a minimum of 0.35. Something that's important to know about the tiered structure is that if you're only taking liquidity, you're taking market orders, you're buying on the ass, selling on the bid, you're gonna have to pay ECN fees, and you're not going to get any rebate. If you're adding liquidity, that means putting the limit order lower than the current trading price or higher than the current trading price, you're going to get what is called a liquidity rebate. If you're someone that's really using market order, the fixed plan over here is going to be better because you're not going to get charged ECN fee, you're going to get a minimum of 0.005 per shares, you have a minimum of $1 per order and 1% of trade value. So this stays the same, this change and this change over here. So if you're using a lot of market order, this one is going to be cheaper in the long run. So this is important to know there's also something else that is extremely, extremely, extremely important that you should be aware if you're in Canada. So what we have over here is a currency conversion fees. So every broker is going to charge you a fee to do this. And this is a comparison of interactive broker versus the other one. So they charge a fixed amount, which is a $2 fee. The other ones are going to be charging you a percentage, which is going to really hurt you in the long run. So if you get a hundred share or $5,000 Canadian value, over here is going to tell you that this should be your commission. If you're using any of the other brokers over here, which I don't recommend, you're going to pay a really substantial percentage because they charge you 1.5% or 1.38 or 1.75 on each trade that you're going to take to do the conversion for you. So that means every time you buy a certain amount of shares, the exchange or the broker is going to actually charge you a conversion fee because you're using Canadian dollars. So the best thing to do if you're using interactive broker is go ahead and change your dollar from Canadian to US because you do it once and you can just avoid these fees. If you don't, you're going to get charged an amount and some of them don't even let you do the exchange conversions because they want to make sure they get that premium. So the next broker we're going to talk about is going to be TD Ameritrade so Tinker Swim. So they took it out of Canada this year and they decided to bring it back, which is good about them is their platform. But they have a minimum of $25,000 when it comes to starting with them, which is going to be pretty much the same thing as PDT, if you would be located in the US, which I think is pretty bad. So when it comes to their fee, they are extremely expensive, right? So you're looking at Canadian and US stock for 9.99 flat per trade. This is extremely high and it's definitely the highest in Canada right now. When it comes to the rest, they're pretty much just a bank and a direct investing platform. So it's pretty simple, but you're going to need $25,000 to start. And with IBKR, there's no minimum deposit. So that's going to definitely help you if you're trying to just get in the door. So the other one we have is Questrade. And over here, if we look at our commission structure, so they have one cent per share with a minimum of $495 to a max of $995 per trade. So to make this a little more simple, I created this simple spreadsheet over here that's going to break down if you trade position of about 500 shares and take about 20 execution per day. So if we look at Questrade over here, we can see 500 shares minimum 20 execution per day, one cent per share or $495 minimum to a max of $995. So per day, it should cost you about $100 of commission. If we look at Tinker Swim, which is the most expensive 500 shares, 20 execution $10 flat per trade, that's 200 bucks. That's really, really expensive because that's is per day. If we look at Interactive Broker 500 shares 20 trades per day, we took the basic commission structure of 0.05 for this calculation to a 1% of trade value max. So it's going to cost you about $50. So when it comes to just commission, it's definitely the cheapest one out there. And I think it's going to be the best one when it comes to margin rate and everything else also. So when it comes to Questrade, something that's important is that they use their own platform, and it's definitely not made for day trading. And it's definitely made for more passive trading if just swing trading maybe. And when it comes to Tinker Swim, it's definitely a good platform. The only thing I really don't like is the commission structure and that you need $25,000 to start day trading. That is pretty bad when it comes to Questrade, you only need a thousand bucks. And with Interactive Broker, there's no minimum. And this is the reason why I decided to go with Interactive Broker. I can connect it to any platform that I want. When it comes to active trading, they're definitely the cheapest one out there. When it comes to option trading, they're actually really, really good because their platform is actually super good for option and selling spread. And it's something that the other ones are not that good at. And the fees on the other one on option are even worse. So I hope you enjoyed this video and you learned something. Let me know what you want to see next. And the best way to reach me is on Twitter because I don't look too much at the YouTube comment because sometimes it's just a mess out there. If you enjoyed this video, you should also enjoy this one.