Here’s an update to the whole Canadian TD Waterhouse, Amertirade merger. Myself and many commenters have previously voiced our displeasure at the high comission rates that Canadian traders / investors have to endure. Ameritrade Canada was a haven with its $10.99 rate until the hammer dropped to consummate TD and Ameritrade’s relationship. They were further insulted by the lack of tools on TD Waterhouse’s Canadian trading platforms.

To appease the Ameritrade converts, TD Waterhouse Canada instituted a “Welcome To TD Waterhouse” $9.99 comission rate. The offer since June was set to expire today. But former Ameritrade Canada clients are getting a stay-of-execution as TD Waterhouse announces that they will extend the special rate until November 3rd, 2006. How should long-time TD Waterhouse customers (not from Ameritrade) feel about this offer extension?

There shouldn’t be a rate difference between different types of customers. Every customer should be enjoying quality trading tools and analysis on the trading platforms, and enjoying a reasonable comission rate. The rate extension is merely delaying the inevitable outflow of Ameritrade customer accounts that may occur after the special rate expires. What TD Waterhouse Canada needs is to have the guts to shake up the industry by re-examining its comission rates permanently. The question remains how they will be served notice of this?