Yes, Scotia iTrade is an excellent bank-owned brokerage that caters to novice and seasoned traders.
Scotia iTRADE is the brokerage arm of Scotiabank, one of the Big 5 banks in Canada.
Who is Scotia iTRADE aimed at?
Scotia iTRADE is a good choice for beginner and advanced traders. The company has various trading platforms to suit your trading experience and style.
The company’s award-winning FlightDesk software is one of the best available and suitable for advanced traders looking for functional and effective trading platforms.
Scotia is the ideal broker for active day traders, giving you access to Canadian and US markets.
It suits both day traders and investors taking a self-directed investment or trading strategy. While it is a bank, Scotia iTRADE doesn’t offer managed portfolios.
What can you trade with Scotia iTRADE?
Scotia iTRADE gives traders and investors access to Canadian and American financial markets. You can trade the NYSE and Nasdaq, as well as the TSX in Toronto.
Scotia iTRADE focuses its offering on stocks and options, and there are plenty of ETFs to trade.
iTRADE lets you trade mutual funds from top firms like ScotiaFunds, Invesco Trimark, Blackrock, Fidelity Investments Canada, Mackenzie Financial, AGF Dynamic Funds, and CI Investments.
You also have the option of trading bonds, IPOs, new issuances, precious metals, and guaranteed investment certificates (GICs).
Scotia iTrade Basic Platform
The basic platform offered by iTRADE features an intuitive and easy-to-use interface, real-time quotes, technical analysis and enhanced charting capabilities.
You can also access research and news through the platform.
Tools include equity, ETF and mutual fund screeners as well as real-time stock alerts to monitor developments in markets where you hold positions.
Another platform feature is portfolio charting software, which lets you compare your portfolio’s performance with up to 10 different benchmarks.
FlightDesk Platform
iTRADE also offers a high-end trading platform called FlightDesk, which comes in Standard and Premium versions.
The platform features one-click stock order entry, real-time trade notifications, bid and ask-size trend indicator, options chain trading, market-if-touched orders and historical trades in the order book for the past 90 days.
The FlightDesk platform is sophisticated and fully customizable. It gives you real-time portfolio values, streaming real-time market data research and news and in-depth charting and options analytical data.
Final Thoughts
Scotia iTRADE is an excellent choice for active traders and investors who need linked financial accounts since you can hook up your Scotiabank accounts to your iTrade brokerage account.