Canadian Capitalist Logo Dark
No Result
View All Result
Thursday, May 15, 2025
  • Login
  • Register
  • Home
  • Economy
  • Investing
  • Markets
  • Real Estate
  • Retirement
  • Tax Savings
  • Trivia
  • Resources
Subscribe
Canadian Capitalist Logo Light
  • Home
  • Economy
  • Investing
  • Markets
  • Real Estate
  • Retirement
  • Tax Savings
  • Trivia
  • Resources
No Result
View All Result
Canadian Capitalist Logo Mobile
No Result
View All Result
Home Uncategorised

Adieu to Questrade

by Ram Balakrishnan
October 31, 2007
Reading Time: 2 mins read
129 4
0
is variable annuity a good investment
153
SHARES
1.9k
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

A few months back, I moved our investment accounts to Questrade to take advantage of their rock-bottom trading commissions. Since then, the bigger discount brokers (TD Waterhouse, BMO InvestorLine and RBC Direct Investing) have reduced commissions to $9.99 for some of their clients. Since we already have our RRSP accounts with TD Waterhouse and qualify for the low commissions, I have decided to consolidate all our accounts with TD Waterhouse.

While I would probably stick with Questrade if we still paid $29 per trade, a $5 difference is not enough to offset some of the problems faced with Questrade and one big advantage of consolidation:

  1. Parking Cash: If you are like me, often you have a bit of cash sitting around waiting for the right opportunity to buy and while you are waiting, it’s best to park cash in a money market fund or cashable GIC. With Questrade, depending on your cash balance and trading frequency, the amount you give up in interest earnings may negate any savings on the commissions.
  2. Customer Service: There must be some very satisfied Questrade customers as it was ranked #1 that category in The Globe & Mail ranking of discount brokers. Let’s just say I am not one among them.
  3. Funding Your Account: If you mail a personal cheque to Questrade, it may take as long as 20 business days for your account to be funded. While, it is true that there is an alternate way for the funds to appear in your account a little faster, it is still slow compared to TD Waterhouse. You can walk into any TD Canada Trust branch with your brokerage account number and deposit a personal cheque and fund your account within 2 business days.
  4. Benefit of Consolidation: Today, our RRSPs have some Canadian equities and investment accounts have some international index funds and I would like to swap their location because dividends from Canadian equities are taxed favourably. Of course, you can only swap if you consolidate all your accounts with one broker.

Related posts:

  1. Finding a Financial Advisor, Part 1
  2. Carnival of Debt Reduction # 19
  3. The Income Tax Cut is Better
  4. This and That
Share61Tweet38Share11

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe
Previous Post

Tax Cuts in the Fiscal Update

Next Post

Sleepy Mini Portfolio Update

Ram Balakrishnan

Ram Balakrishnan

Related Posts

Why you cant afford a house in Canada

Why You Can’t Afford A Home In Canada?

January 24, 2022
558
investing benefits
Investing

Finding a Financial Advisor, Part 1

June 19, 2021
2.2k
investing in bitcoin

Is it time to invest in Bitcoins again?

May 13, 2019
2k
when do reits liquidate
Uncategorised

Performance of Currency-Neutral S&P 500 Index Funds

January 19, 2014
2k
is mortgage interest tax deductible
Uncategorised

The 2013 Sleepy Portfolio Report Card

January 12, 2014
2k
how to buy individual stocks in canada
Uncategorised

Asset Class Returns for 2013

January 5, 2014
1.9k
Next Post
generate passive income

Sleepy Mini Portfolio Update

Please login to join discussion
Canadian Capitalist

© 2022 Canadian Capitalist

Navigate Site

  • Home
  • Disclaimer
  • Privacy Policy
  • Advertisement
  • Contact Us

Follow Us

No Result
View All Result
  • Home
  • Economy
  • Investing
  • Markets
  • Real Estate
  • Retirement
  • Tax Savings
  • Trivia
  • Resources

© 2022 Canadian Capitalist

Welcome Back!

Sign In with Facebook
Sign In with Google
Sign In with Linked In
OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Sign Up with Facebook
Sign Up with Google
Sign Up with Linked In
OR

Fill the forms below to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
two man and woman standing on doorway
The man who does not read has no advantage over the man who cannot read - Mark Twain