ITRADE Forex Broker keeps up-to-date with the latest trading account information, including VIP, Exclusive, Platinum, Gold, Silver, Basic maximum leverage of --, trading varieties, and more
Rating Index
Pros
Wide range of trading options including stocks, bonds, cryptocurrencies, and commodities.
User-friendly platform with advanced trading tools and resources for both beginners and experienced traders.
No withdrawal fees and multiple funding options available for account management.
Cons
Lack of regulation and transparency as it operates as an offshore broker, raising concerns about fund safety.
Limited selection of commission-free ETFs compared to other brokers, which may restrict investment choices.
Higher trading fees for low-volume traders, making it less appealing for casual investors.
ITRADE broker Accounts
VIP
Exclusive
Platinum
Gold
Silver
Basic
Scotia iTRADE Account Type
Scotia iTRADE offers a variety of investment and trading accounts to help you achieve your financial goals. The account types include:
- Registered Accounts:
- Tax-Free Savings Account (TFSA): Allows tax-free income and growth. Subject to annual contribution limits.
- Registered Retirement Savings Plan (RRSP): Contributions are tax-deductible, and investment growth is tax-deferred until withdrawal.
- Registered Education Savings Plan (RESP): Designed for saving for a childs post-secondary education with government grants available.
- Registered Retirement Income Fund (RRIF): Provides a set yearly income after retirement.
- First Home Savings Account (FHSA): Helps save for your first home in a tax-free manner.
- Non-Registered Accounts:
- Cash Account: No contribution limits; you can withdraw cash anytime.
- Margin Account: Allows borrowing against the value of your investments.
Non-Personal Accounts: For businesses or organizations to manage investments.
Practice Account: A risk-free environment to test trading strategies and the platform with virtual funds.
- Eligibility:
- Must be a Canadian citizen and above the age of majority.
- Have a minimum of CAD 100 available to deposit.
- Provide a government-issued ID and Social Insurance Number (SIN).
- Documents Required:
- Government-issued ID (e.g., passport, driver‘s license).
- SIN (and spouse’s SIN for spousal accounts).
- A copy of the statement for any accounts you wish to transfer.
- Application Process:
- Complete the online application form on the Scotia iTRADE website.
- Upload required documents, ensuring they are clear and legible.
- Alternatively, you can print the application, sign it, and mail it along with your ID copy.
Funding Your Account: You can transfer funds from an existing Scotiabank account or another financial institution.
Account Activation: Once your application is processed, you will receive confirmation, and your account will be activated.
For more information, visit Scotia iTRADE Account Types.
Scotia iTRADE Broker Account Opening Process
Opening a Scotia iTRADE account is straightforward and typically takes about 15 minutes. Heres a step-by-step guide:
For more details, visit How to Open a Scotia iTRADE Account.
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