I live in Canada and I'll be using an "investor's edge" RRSP account with CIBC. I'm not sure exactly yet what the trade fees are, but I'm pretty sure they aren't going to be as low as an online only discount broker. I chose them mainly for convenience, I know I'm going to be eating a higher cost than an online-only broker. I'll be getting the transaction fee schedule on Monday. I think they have a package that can have fees as low as $6 per trade, but you have to use them all (50 I think?) to make that worth it. From research on the net without the package it'll probably cost 25 per trade, so pretty steep. I have enough to qualify for no annual fees through them, which I don't qualify for some other banks from what I can see.
So the rule of thumb then is to have floatation costs between 1%-2%? For me I might only be able to trade once per year then