Marlborodog,

I had shares of Noront in my interactive brokers account and also scotia Itrade.

Interactive brokers was a pain because it took a minimum of 3 days for money to be transferred and then be usable.

With Itrade you could transfer from your chequing account to trading account and make a buy.

Early last year I transferred Noront shares from my Interactive brokers account to Scotia Itrade so I could consolidate .

My average cost in Interactive brokers was very high. It took weeks of crap and paper work and mailing to get this done .....and weeks and weeks later...it was transferred.

In the meantime...I bought more and more Noront shares in my itrade account.

When I went to my itrade account to check on the transfer I was surprised to see that I had a ridiculously UNTRUE low avg cost price of my Noront shares.

I had a big wack of Interactive brokers shares at a very high cost avg. When Scotia Itrade did the transfer they did not use my REAL cost avg. from Interactive.....they applied the current Noront price of the day that was in the 20ish cent range!!@@$$%.

I phoned up Itrade and told them of their error. THey told me that this is how they do the transfer.....and that I could go in and change the value to whatever I wanted. I was stunned at this.

They told me they are a DISCOUNT broker...and that revenue Canada doesn't care about the avg. share cost price currently shown in the computer...This surprised me.

They told me ...again..we are a discount broker. ....You'll have to have all your little buy slips handy and give them to a nice accountant and they can figure out your real cost avg.

Should Noront be sold one day....you'll need all your slips to prove your real cost avg.

Be careful folks....with the discount brokers....file those slips carefully for the future.