He notes that ETFs are an alternative to mutual funds and can typically be bought and sold
at a discount brokerage for less than $ 10 a trade, with no ongoing fees.
In this post, I'm going to discuss some strategies to buy dividend stocks (or any other kind of stocks) in the cheapest manner
possible at discount brokerages.
But the reality is that high volume investors and traders are rewarded with even better
perks at a discount brokerage, including free trades and even lower commissions.
For example if you have an RRSP and TFSA
account at a discount brokerage and you want to make a purchase in the RRSP account — move the cash into the RRSP account.
If you are a big contributor with a small portfolio and are keen (but not superkeen) to save costs then it might make sense to
start at a discount brokerage instead of at TD and then switching.
One thing I included in my calculations was rolling the money over into an IRA
at a discount brokerage after an estimated 4 years, which is the most I've spent at any one employer in my career.
One thread in the RedFlagDeals forum in particular stood out as being an interesting look at
RESPs at discount brokerages — specifically on the point of joint subscribers.
Stock purchase plan: a program that allows investors to purchase a company's shares directly, without a brokerage, and often at a discount
DFA Canada also doesn't seem to be performing as well as its US parent, but if I had the choice to use them to build my own portfolio
held at a discount brokerage, I would have.
Specifically, Dalbar's Direct Brokerage Sales Effectiveness (DBSE) program measures the performance of client service
teams at discount brokerages.
That said, a quick look
at the discount brokerage tweets for the past several weeks would show that that there is a divergence between theory and reality when it comes to mobile trading sites and apps.
I don't hold him too accountable for the losses in my accounts — that's the market — but after all my years holding no load accounts with no
fees at a discount brokerage this guy's fee is not sitting well with me.
To keep costs low, compare fees at various brokerages and make sure your predicted gain will be more than enough to cover the transactional costs — about $ 5 to $ 10
at discount brokerages.
If you want to convert $ 10,000 Canadian into US Dollars, it will cost you at least $ 150
at your discount brokerage.
To start, you need to open an account
at a discount brokerage.
On the other hand, a self - directed investor with the same $ 500,000 who is buying their own ETFs
at a discount brokerage will be paying only small commissions to buy and sell securities (typically $ 10 per transaction) plus whatever the underlying MERs of their investments are.
Many MoneySense readers are tempted to go it alone by picking their own stocks and bonds, or ETFs,
at discount brokerages.
You can find a long list of
them at any discount brokerage.