Today Questrade announced a new fee structure for Toronto and Toronto Venture stocks that really affects only those who trade “penny stocks”:

“In response to a new fee structure at the TSX, effective November 1, 2007 we are modifying our exchange fee pricing for Toronto (.TO) and the Venture (.VN). There is no longer a distinction between Toronto and the Venture in terms of exchange fees, instead pricing is based on the trade price.

Adding liquidity is now free on all TSX and Venture stocks, and our price schedule for removing liquidity is:

• Stocks priced at $1 or more: $0.0037/share
• Stocks priced less than $1: $0.0010/share

Unfortunately it will take some time before we are able to implement updates to our trading platforms. In the meantime $0.0037/share will be applied to ALL Canadian trades that remove liquidity, and the difference ($0.0027/share) will be rebated for trades on shares under $1.00. We will provide more details concerning the timing of these rebates in the near future.”