Company to use to personally invest
- Thread starter Sorbate
- Start date
Questrade.
$10 a trade both ways is insane. I would not use that.
To they charge that on ETFs as well??
I use qtrader..
This one is great for starting and learning! The simplicity is incomparable @Sorbate
As far as wait times you can do instant transfers, auto transfers, set it up like paying a bill if you like. It's no hassle.
The thing is if you are only buying small amount of a stick, lake say 200 bucks $10 is alot. Also ETFs are free to buy which is nice. Say you have 1k in your account to spend and whatever stock you buy comes out to say 960 bucks you can buy a share if a cheap etf instead of just having the cash do anything. Same when you get paid dividends you can just buy a cheap etf with em if the dividends are small
Large amounts I suggest mutual funds. I use IG and the major banks.
Funny my IG account just came back
+11.7% on RRSP's with broad holdings focusing on energy, entertainment and innovations
+15.6% on TSFA which is 100% Mawer fund
These are my numbers from Dec.31/23 to Mar.31/24 my increases after fees paid. LOTS of fees but like I told him "I don't care if you make a million dollars per year off me as long as you get me the returns I am looking for". He is so I'm glad I didn't move my money a bit over a year ago when I was looking for someone else. I just used previous knowledge of market movements and ask him to focus on certain areas.
I'm not suggesting this as it is risk however I am purchasing a mortgage in July through a mortgage lender. 12% for 1yr on 70% equity first position. Not the entire mortgage just a chunk to see how it goes. After this will be a rental house for passive income and I should be good to go for retirement with respect to finances. Big change from turning 39 laying in my bed wondering WTF is going on with me having maybe $60k of net worth- at this pace I'm going to live in poverty in old age. Changed my ways and became a mature, financially responsible person.
Funny my IG account just came back
+11.7% on RRSP's with broad holdings focusing on energy, entertainment and innovations
+15.6% on TSFA which is 100% Mawer fund
These are my numbers from Dec.31/23 to Mar.31/24 my increases after fees paid. LOTS of fees but like I told him "I don't care if you make a million dollars per year off me as long as you get me the returns I am looking for". He is so I'm glad I didn't move my money a bit over a year ago when I was looking for someone else. I just used previous knowledge of market movements and ask him to focus on certain areas.
I'm not suggesting this as it is risk however I am purchasing a mortgage in July through a mortgage lender. 12% for 1yr on 70% equity first position. Not the entire mortgage just a chunk to see how it goes. After this will be a rental house for passive income and I should be good to go for retirement with respect to finances. Big change from turning 39 laying in my bed wondering WTF is going on with me having maybe $60k of net worth- at this pace I'm going to live in poverty in old age. Changed my ways and became a mature, financially responsible person.
-Weathsimple is free and easy to use
-National bank is free with over 20k
-Questrade is free for etfs and more a full service trading platform
Paying 10$ for a trade everytime you buy and everytime you sell is crazy this day and age. The fees will eat you alive
-National bank is free with over 20k
-Questrade is free for etfs and more a full service trading platform
Paying 10$ for a trade everytime you buy and everytime you sell is crazy this day and age. The fees will eat you alive
Places with no obvious fees, usually use a buy / sell spread to get their fees, if I remember correctly.
Every company has to keep the lights on somehow.
I use TD Canada trust for my rdsp.
These high commissions add up quite quickly depending what you're doing, also in a TFSA not only can you not write off losses but you can also not write off the commissions, you also will get worse fills because you're buying all of your position in 1 go, for example, say you wanted to buy 1000 shares of a company, if you bought 1000 shares in 1 go you will pay $10, but what if you wanted to spread the order out to get a better price, you would have to pay $10 each time and the same goes for selling.
If you use interactive brokers they charge around $1 per 100 shares, or around $1> per contract for options.
Another thing to take into account is the rediculous exchange rates at Canadian banks, to transfer $100,000 Canadian dollars to USD you're hit with a $1000< fee. At interactive brokers you're able to get market price paying a few dollars commission (not kidding), I remember speaking to Interactive Brokers and they thought I was getting scammed by a third party as they didn't believe these fees could be real at Canadian brokerages.
I wish I knew this earlier, the exchange rate benefit alone would have saved me thousands of dollars.
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15% Is actually a great return on investments especially if it's low risk (in 1 year). I don't think any money manager can guarantee those returns, most lose money.
Well... (lose money in relation to a standard Benchmark like the S&P or the Nasdaq)
Or make us. Everything is cyclical including the value of the CAD. There will come a day when the CAD breaks $0.93 USD at which time I will make a pile of financial moves during the short window the value is so high then when the dollar flips a series of leverage moves again to get the money back into CAD from USD. It's almost free money however it takes money to earn money. Last time this happened I just purchased my first house so I had nothing so when it happens again I need to take advantage of the occurrence.
For me I won't use anything online for this. Only in person, signatures, documents, identification, etc. I wouldn't do anything less for a house so I will no nothing less for this type of thing.