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Revscene Wall Street.
Consolidating debt? Good business tips? Buying stock? How's our economy doing? Discuss and share advice and tools on everyday banking, investing, wealth management and insurance. |
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05-18-2012, 12:34 PM
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#1 | | Banned (ABWS)
Join Date: Mar 2011 Location: burnaby
Posts: 1,734
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| TFSA Investing
Supposedly investing in the TFSA is non-taxable or "tax free"
But if you invest via bank you can only purchase mutual funds and bonds
any way to trade stocks, etfs etc without getting raped by fees?
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05-20-2012, 02:16 AM
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#2 | | Banned By Establishment
Join Date: Nov 2006 Location: Vancouver
Posts: 259
Thanked 14 Times in 12 Posts
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You can invest in stocks with DRIP and SPP plans. You can avoid fees if you do SPP to my knowledge.
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05-20-2012, 08:40 AM
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#3 | | I contribute to threads in the offtopic forum
Join Date: Jun 2006 Location: not vancouver
Posts: 2,642
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Questrade, for one,
Google is also ur friend, so is search
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05-20-2012, 09:15 AM
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#4 | | I contribute to threads in the offtopic forum
Join Date: Feb 2008 Location: North Van
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Set up a "direct investment account" at any of the major Canadian banks, voila, you are now in control of your investments via your online banking account.
Expect to pay 30$/trade if you don't have a balance over 50k.
As 4444 mentioned above, Questrade is going to be cheaper with trades, around 10$, but will not be directly linked to your personal bank, so it can be a bit of an annoyance setting it up and transfering funds, IMO anyway.
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05-20-2012, 10:55 AM
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#5 | | I contribute to threads in the offtopic forum
Join Date: Jun 2006 Location: not vancouver
Posts: 2,642
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| Quote:
Originally Posted by jasonturbo  Set up a "direct investment account" at any of the major Canadian banks, voila, you are now in control of your investments via your online banking account.
Expect to pay 30$/trade if you don't have a balance over 50k.
As 4444 mentioned above, Questrade is going to be cheaper with trades, around 10$, but will not be directly linked to your personal bank, so it can be a bit of an annoyance setting it up and transfering funds, IMO anyway. | Questrade takes a couple days to fund, fees between $5-10 a trade - pretty good platform now
probably the best low cost brokerage which allows RRSP/TFSA direct trading, yes its kinda annoying to not be connected to your bank, but as far as i'm concerned my cash and my investments are seperate in mind, so i have no beef
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05-21-2012, 07:37 PM
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#6 | | Banned (ABWS)
Join Date: Mar 2011 Location: burnaby
Posts: 1,734
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I think you guys are a bit confused.
I am not talking about which discount brokerage to trade with....
If you invest within your Tax Free Savings Account all investment income is TAX FREE.
moving to a discount broker won't work..
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05-21-2012, 08:28 PM
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#7 | | I contribute to threads in the offtopic forum
Join Date: Jun 2006 Location: not vancouver
Posts: 2,642
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| Quote:
Originally Posted by PornMaster I think you guys are a bit confused.
I am not talking about which discount brokerage to trade with....
If you invest within your Tax Free Savings Account all investment income is TAX FREE.
moving to a discount broker won't work.. | ya, we're confused 
please explain what you're talking about, because based on what you have written, i don't have the foggiest of ideas what you want from us.
and yes, most of us trade in TFSA accounts in our brokerage accounts, and we make (or don't make) lots of money tax free, paying a couple bucks each trade
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05-21-2012, 08:28 PM
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#8 | | MiX iT Up!
Join Date: May 2006 Location: vancouver
Posts: 8,133
Thanked 2,066 Times in 865 Posts
| Quote:
Originally Posted by PornMaster I think you guys are a bit confused.
I am not talking about which discount brokerage to trade with....
If you invest within your Tax Free Savings Account all investment income is TAX FREE.
moving to a discount broker won't work.. | moving to a discount broker won't work - why is that? http://www.rbcdirectinvesting.com/ta...s-account.html
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05-21-2012, 09:47 PM
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#9 | | I contribute to threads in the offtopic forum
Join Date: Jun 2006 Location: not vancouver
Posts: 2,642
Thanked 1,941 Times in 765 Posts
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Originally Posted by tiger_handheld | because some people, when they ask for help, don't actually want it
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05-22-2012, 12:13 AM
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#10 | | Banned (ABWS)
Join Date: Mar 2011 Location: burnaby
Posts: 1,734
Thanked 642 Times in 217 Posts
| Quote:
Originally Posted by tiger_handheld | I'm with CIBC and was in the impression that I would only be able to invest in certain GIC and Bonds (no stocks)
All good now
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