Trade with me: https://bit.ly/3IThgjQ
🇨🇦Questrade Canada (get $50 FREE commission trades): http://bit.ly/2GoeUMY
Today I will be transferring my TFSA account from Interactive Brokers Canada to Questrade. I found Interactive Brokers maintenance fees to be very unreasonable because it applies to even the long term TFSA and RRSP accounts. I believe Questrade Canada is a much better option for the DIY investors. Questrade fees are reasonable, easily waived and their customer service is amazing!
🇨🇦How to open a Questrade account?
https://youtu.be/dM1OnTqpgUY
Day Trading Broker Canada Reviews- Questrade, Interactive Brokers, Wealthsimple Trade, Thinkorswim: https://youtu.be/u8lf61mj0fo
📉Wealthsimple Investing (Robo investing long term for TFSA, RRSP or cash accounts)
Get $50 when you invest with $500: https://wealthsimple.sjv.io/yDxNy
Below is just a SUMMARY of both brokers fees. I only highlighted the fees I consider important for day trading, swing trading and investing. Please make sure to check the official broker website for more information.
🇨🇦Questrade Canada fees
https://www.questrade.com/pricing/self-directed-commissions-plans-fees
Day Trading:
- Commissions: Flat $4.95 per trade OR $0.01 per share, max $6.95 per trade.
- Data fees: $89.95 per month (100% rebatable)
Swing Trading & Investing:
- Commissions: $4.95 - $6.95 per trade.
-Inactivity fee: $24.95 per quarter (easily waived as described in the video)
🇨🇦Interactive Brokers fees
https://www.interactivebrokers.com/en/index.php?f=1590
Day Trading:
- Commissions: $0.005 per share, Min $1.00 per trade
- Data fees: $30-$50 per month
Swing Trading & Investing:
- Commissions: $0.005 per share, Min $1.00 per trade
- Inactivity fee: $10-$20 per month ($30-$60 per quarter)
- RRSP maintenance fee: $12.50 per quarter
There's no question that the Interactive Brokers maintenance fee can eat into your long term account like it has been for me. Therefore I am moving my TFSA and RRSP accounts to Questrade instead. I am keeping my margin trading account at Interactive Brokers just as an option.
Day trading for beginners :
Understanding market cycles & psychology
https://youtu.be/heETqGrDRuQ
5 KEY Lessons to trading penny stock runners
https://youtu.be/qBor9bsfW0E
Intro to Penny Stock trading psychology
https://youtu.be/Rv60fkK33Hg
📈 Best Charting Tool (FREE) - TradingView: http://bit.ly/3kqJjkN
📉My Trading Broker Platforms:
Interactive Brokers - https://bit.ly/3bE82u4
Webull - Get up to 12 FREE stocks: https://bit.ly/42lNake
Centerpoint Securities ($30K min) - https://bit.ly/3LKdlID
-Get 50% off Commissions & Short locates for 60 days
-Get 6 months FREE Trade Ideas scanner
🖥️My Stock Scanners & News feed:
Benzinga Pro FREE 14 day trial (use code "HUMBLEDTRADER" to get 25% Off )
http://bit.ly/2KXeAqH
Trade Ideas Scanner (use code "HUMBLED15" to get 15% Off)
https://bit.ly/3rLAfp2
✅My REAL Social Accounts:
IG: https://www.instagram.com/humbledtrader/
TikTok: https://www.tiktok.com/ @HUMBLEDTRADER
Twitter: https://twitter.com/HumbledTrader18
FB: https://www.facebook.com/HumbledTrader
#daytrading #pennystocks #stocks
DISCLAIMER: I am not a financial adviser nor a CPA. These videos are for educational and entertainment purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.
AFFILIATE DISCLOSURE: I only recommend products and services I truly believe in and use myself. Some of the links on this webpage are affiliate links, meaning, at no additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe. Commissions earned will be used towards growing this channel.
🇨🇦Questrade Canada (get $50 FREE commission trades): http://bit.ly/2GoeUMY
Today I will be transferring my TFSA account from Interactive Brokers Canada to Questrade. I found Interactive Brokers maintenance fees to be very unreasonable because it applies to even the long term TFSA and RRSP accounts. I believe Questrade Canada is a much better option for the DIY investors. Questrade fees are reasonable, easily waived and their customer service is amazing!
🇨🇦How to open a Questrade account?
https://youtu.be/dM1OnTqpgUY
Day Trading Broker Canada Reviews- Questrade, Interactive Brokers, Wealthsimple Trade, Thinkorswim: https://youtu.be/u8lf61mj0fo
📉Wealthsimple Investing (Robo investing long term for TFSA, RRSP or cash accounts)
Get $50 when you invest with $500: https://wealthsimple.sjv.io/yDxNy
Below is just a SUMMARY of both brokers fees. I only highlighted the fees I consider important for day trading, swing trading and investing. Please make sure to check the official broker website for more information.
🇨🇦Questrade Canada fees
https://www.questrade.com/pricing/self-directed-commissions-plans-fees
Day Trading:
- Commissions: Flat $4.95 per trade OR $0.01 per share, max $6.95 per trade.
- Data fees: $89.95 per month (100% rebatable)
Swing Trading & Investing:
- Commissions: $4.95 - $6.95 per trade.
-Inactivity fee: $24.95 per quarter (easily waived as described in the video)
🇨🇦Interactive Brokers fees
https://www.interactivebrokers.com/en/index.php?f=1590
Day Trading:
- Commissions: $0.005 per share, Min $1.00 per trade
- Data fees: $30-$50 per month
Swing Trading & Investing:
- Commissions: $0.005 per share, Min $1.00 per trade
- Inactivity fee: $10-$20 per month ($30-$60 per quarter)
- RRSP maintenance fee: $12.50 per quarter
There's no question that the Interactive Brokers maintenance fee can eat into your long term account like it has been for me. Therefore I am moving my TFSA and RRSP accounts to Questrade instead. I am keeping my margin trading account at Interactive Brokers just as an option.
Day trading for beginners :
Understanding market cycles & psychology
https://youtu.be/heETqGrDRuQ
5 KEY Lessons to trading penny stock runners
https://youtu.be/qBor9bsfW0E
Intro to Penny Stock trading psychology
https://youtu.be/Rv60fkK33Hg
📈 Best Charting Tool (FREE) - TradingView: http://bit.ly/3kqJjkN
📉My Trading Broker Platforms:
Interactive Brokers - https://bit.ly/3bE82u4
Webull - Get up to 12 FREE stocks: https://bit.ly/42lNake
Centerpoint Securities ($30K min) - https://bit.ly/3LKdlID
-Get 50% off Commissions & Short locates for 60 days
-Get 6 months FREE Trade Ideas scanner
🖥️My Stock Scanners & News feed:
Benzinga Pro FREE 14 day trial (use code "HUMBLEDTRADER" to get 25% Off )
http://bit.ly/2KXeAqH
Trade Ideas Scanner (use code "HUMBLED15" to get 15% Off)
https://bit.ly/3rLAfp2
✅My REAL Social Accounts:
IG: https://www.instagram.com/humbledtrader/
TikTok: https://www.tiktok.com/ @HUMBLEDTRADER
Twitter: https://twitter.com/HumbledTrader18
FB: https://www.facebook.com/HumbledTrader
#daytrading #pennystocks #stocks
DISCLAIMER: I am not a financial adviser nor a CPA. These videos are for educational and entertainment purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.
AFFILIATE DISCLOSURE: I only recommend products and services I truly believe in and use myself. Some of the links on this webpage are affiliate links, meaning, at no additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe. Commissions earned will be used towards growing this channel.
We are here to trade stocks.. and destroy the Like Button.. and here the Bad Jokes .. Cheers
Thanks for keeping it simple
Is there a fee when you did the partial transfer???
Hi so I bought Us stocks on wealthsimple which I very dumb. I want to do a partial trade. Everything would be under 1200 dollars. Let’s say I do transfer it and sell it on questrade how much will I be paying because wealthsimple charges to much for buying Us stocks
WealthSimple charges extra .7 cents when selling stock so the fees add up too fast. I like quest trade low fees on us stocks and come on let’s be real only US stocks are best.ETFs are slow gainers
How much is the transfer fee?
Can you transfer investments from one questrade account to another?
can we Transfer money between Questrade accounts?
Heyhey, just wondering while you transferring, can you still trade ? Can’t seem to find this question on google , thanks 🙏
How long did the transfer from IB to Questrade take? How many days before everything showed up in Questrade and ready to trade? And what did IB charge for the transfer out fee?
Hey, does the stock price difference matters if you choose all in kind option?
(e g : I have 10 stocks of tesla which I purchased at $380 and now it's $400 and no cash in old or new account)
I have one question a create my questrade account a put my money on a Rsp but i want a TFSA how i transfert the one to another ?
Great video as i've just transferred. Thought id ask a question in light of some help
My question of concern is in regards to dividend payments and who is responsible for paying out when the majority of my stocks had an ex-dividend day announced with CIBC and now all my assets are with Questrade. One of my stocks was supposed to pay out yesterday (07/27/2020) and I've received nothing from either CIBC (which they typically pay on time) or Questrade (Todays date is 07/28/2020)
I've spoken to the Questrade rep and they say since my funds were with CIBC on the ex-div it will be with CIBC, which makes sense to me. However, I called CIBC and they claim that it should be Questrade since I am officially with them now. As you can tell it's a little bit of a blame game now.
Anyone have this problem, or can provide insight?
thanks this helped!
Hi,
to transfer the TFSA, you must first open a questrade account where you can initiate the direct transfer,
also I would like to know if we can take advantage of the offer $ 50 FREE commission trades including the case of a transfer or not. also if i can transfer the TFSA and RRSP at the same time and the delay.
if you have the link say it will be great. thank you so much
the address and contact info is of the Bank or yourself?
If you transfer all in kind, are you able to trade those stocks during the transfer process since your securities can be at risk with the daily price movement? And how long does the transfer usually complete and will it eat up the contribution limit of my TFSA? Thank you!
Me encantan tus vídeos gracias
Is there a fee to make an account transfer ?
Question ! is there webull in institution section ? im wondering to switch to another brokerage .
Do you "day trade" with your TFSA account?
I am using the Free Practise Questrade IQ Edge to try Day & Swing trading. I prefer margin account,. KEEP IT UP
I am a Questrade client for quite a few years now, no complaint. Good info for Canadians! Thanks!
Thanks for the video! I use a margin account with Questrade and have had very few problems over the years.
I must warn everyone who opens a margin account in Canadian Dollars and trades U.S. Stocks that you must manually request to exchange funds into US. Dollars prior to trading otherwise you will be charged margin (around 7% of your trade value per month until you close your position). They do not convert your funds automatically when you take each trade like some other brokers do even though it shows your account cash value in $USD/$CAD. Happy Trading!!
Hey thanks for the amazing video, just have a quick question, do we have to mail the signed documents or are we done right after signing and Questrade takes care of the rest?
Questrade sends a message saying I need to download and sign a "transfer request form" in order to make the transfer, but it doesn't tell me where to find this form or how to upload it. i didn't receive any email from them as you show in your video. II'll ask their support people directly when their business hours begin.
If I have a Tfsa with Tangerine investing in their mutual funds, and I want to transfer that account to Questrade without affecting my contribution room but would like to use that money to invest in other things like etf's and stocks, would I use All in cash as the transfer type, or would that count as a withdrawal?
I definitely find that brokerage fees eat into the compounding aspect of investing.
TFSA and RRSP is only available to residents of Canada. Non-residents will be subjected to 1% tax and contribution room is only available for years in which you are a resident of Canada. (Just googled it). But I thought it would be important in your video as Americans would watch this video and not know about the legal rules pertaining opening these accounts for trading.
Great video humble trader. I am not Canadian, I am from the U.S. so I can't use your referral code. I never knew in Canada you guys use alphabet and numbers for your zip codes. Here in the US we only use 5 numbers as our zip code.