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Thursday, August 28, 2008
scorCard™ Reviews

View Winter 2008 Results

Surviscor reviews all Canadian discount brokerage firms including bank-owned and independent firms. Traditional day trading firms are included providing they meet the minimum requirements for inclusion. The minimum requirements are:

  1. Transactional capabilities in Canadian and US markets
  2. Physical location in Canada with minimum registration requirement of 5 provinces
  3. Ability to establish a registered account
  4. Minimum account opening balance requirement no greater than $10,000 CDN

The Online Discount Brokerage Review is broken down into two main profiles, each with its own analysis and results. The two profiles are:

  1. Investor
  2. Trader

The Overall ranking is determined using a percentage of both of the profile results.

Surviscor defines an Investor as a self-directed individual who typically:

  • Has the ability to understand the value of investing
  • Requires a well-diversified portfolio and a structured financial plan
  • Is self-reliant and prefers to self-direct his/her portfolio
  • May retain an advisor for part of his/her investments
  • Requires various tools and resources to make investment decisions

The Investor is typically in an accumulation stage of life in which the following lifecycle traits exist:

  • Financial stability
  • Steady income
  • Mortgage
  • Saving for retirement

Surviscor has defined an Investor as one who trades on average 0 to 29 trades per month.

Surviscor defines a Trader as a self-directed individual who typically:

  • Has a sophisticated and almost professional understanding of the investment world and its operations
  • Requires immediate real-time information regarding the markets and his/her account information
  • Is self-reliant and treats his/her account activity as a job and a passion
  • Has little to no reliance on an advisor for the majority of the investment decisions
  • Demands sophisticated and real-time tools and resources to make investment decisions

The lifecycle of a Trader is more difficult to define. It appears that Traders come from all walks of life and financial stability points; however, they all understand the value of determining market risk and reward. A Trader typically has a larger amount of disposal income available for short-term investing, and is constantly looking for market opportunities.

Surviscor has defined a Trader as an individual who trades on average more than 30 trades per month.

The Online Discount Brokerage Review is divided into the following categories:

  1. Getting Started – Public Site Review
  2. Design and Help Features
  3. Customer Interaction
  4. Market Intelligence
  5. Trading
  6. Tools and Education
  7. Commission and Fees
The scheduled release of the 2008 scorCards™ are:
  • Summer 2008 review – September 2008

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