An increasing number of both pre-retirees and retirees are turning to online trading to increase the size of their nest eggs.
While most spend their whole lives saving for retirement, they often don?t do enough to manage their money once they hit their golden years. As online trading becomes more user-friendly and accessible, many are depending on it to take control of their financial futures.
?We are seeing a lot more Canadians try online trading thanks to the excellent customer service and education tools offered by online brokerages,? says James Stares, Director, Product Strategy at Scotia iTRADE. ?There?s a lot out there to help people learn: live seminars and webinars provide those interested in investing with easy, self-directed trading solutions and specialized support ? no matter their experience level.?
Online trading platforms are also rich with useful features. While nearly all offer access to personal account balances and holdings, some provide access to real-time account balances, buying power and portfolio values, and send out alerts to help investors monitor Profit & Loss. As well, many online brokerages now offer equity trades for under $7, and some brokerages like Scotia iTRADE offer commission-free online trading on certain ETFs and 100 free trades, helping keep your starting expenses low.
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