Red and Black and Redsfann both mentioned Buy and Hold. Sharebuilder.com also offer the same services.
believe both are good if you are a buy and hold investor interested in reinvesting dividends.
both companies do not allow cdn. investors

so I have set up a portfolio of DRIP (dividend Re-investment stocks) and SPP share purchase plan stocks.
there is no cost once you have your first stock and you register with the trust which handles the plans, in Canada it is either CIBC Mellon or Computershare. so there is no costs however I get statements from every company, so easier to track through Sharebuilder or buy and hold.
stocks in my DRIP/SPP portfolio
Bank of Montreal BMO,
Scotia Bank BNS,
CIBC CM,
Enbridge (pipelines),
Riocan (reit)
Suncor (oil sands) described as a boring oil play went up almost 400% since I bought it
FAP First Austrailia holds asia bonds, Austraila (good for interantional bonds)
CGI closed end fund that beats the TSX on most years.
would like to add Contrans to the mix and Transcanada. Contrans gives you a 5% discount when reinvesting the dividends. Riocan 3%.
as for trading many good options TD waterhouse is what i use but also have Etrade. Ameritrade also good option and heard good words about Scotrade (name?)
I have ussually had a problem at one time with any brokerage account it is how they deal with the matter.
thanks
selkirk