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Webbrokers

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Thread replies: 20
Thread images: 2

Can we discuss online brokers /biz/?

I want to start putting all my money into ETFs slowly. How can I do this in the easiest manner possible? I don't really understand a lot of the terminology especially regarding fees. I'm guessing most of it doesn't apply to me since I just need the "simplest package".

I'm in Canada but we can discuss others as well.

I was looking at TD memehouse and it says $9.99 flat commission rate. Is that per trade? So if I were to be buying $200 worth of ETFs every week or two would I be paying 5% of my money JUST on fees? Seems a little strange...
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bump?
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>>979554
Interactive Brokers not listed? Into the garbage.
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>>979587
Damn that's really cheap compared to other brokers.

What exactly makes the price vary between them? And is TD memehouse $10 per trade even if im buying ETFs?

I'll probably use interactive memers then
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I use TD direct investing.
10$ isn't that bad honestly unless you're working with 0 money. (highschooler)
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>>979620
>10$ isn't that bad honestly unless you're working with 0 money

Eh it's a fair bit. I'm only planning on putting like $200-400 into an ETF every one or two weeks and that could add up to a pretty big portion over a year or so.
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questrade offers free commissions + ECN fees for buying ETFS. you only pay the commission upon selling the ETF.

if you have the $10k minimum needed to open an IB account, go for it. they are the lowest commission i can find.

IB will only fuck you if you're playing penning stocks and decide to buy 2000 shares or some shit because their commission structure is per share.

TD absolutely does not offer free ETF purchases unless it's one of their special in house funds i believe.

if i were to switch to IB, i would save close to 75% on commissions. got 100 free trades on questrade for opening an account with a min deposit of $10k so i'll keep using it until i'm out of free trades.
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>>979688
Hmm I'll consider both then.

I was originally considering TD for ease of use but the fees are definitely a dealbreaker.

I basically just want to put all my money into VFV that I currently have overtime and any future money that I earn. I'm guessing I shouldn't buy it at all in one go and instead buy it slowly overtime.

I wish i put my shekels into it earlier tho, it's been averaging like 18% p/a returns
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>>979722
questrade is probably the best deal for you in that case. IB has a bit of complicated sign up process from what i can see.

i set up my QT account in 5 business days flat; ready to trade on the 5th day.

IB is geared for the active trader.
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>>979729
Ah ok thanks.

But damn it's been doing so well... really wish i didn't fall for the "Emergency fund" meme... I've been saving money far too much money for that for far too long. I'd have like 30% more money if I bought VFV when it just came out 3 years ago.
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>>979737
>teller's face when i went in to fund my brokerage account
>i'd like to deposit 95% of my entire account to THIS payee
>certainly, i'll need to see some ID sir.

got a steady job idgaf. i don't spend half of my monthly income regardless.
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>>979739
Yeah lol. I fell for the "keep liquid shekels incase your house burns down, you get hit by a car running out of the house AND you have liver failure".

Dumbest meme ever. You never need more than like $3k, that's enough to last you until you can liquidate all your other shit/find a new job.
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>>979742
regardless, EFT out of your brokerage account is good up to $25k per day at no cost and take 2 business days to process.
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>>979747
Btw should I wait for the rate of CAD to USD to go back up at least a little bit?

I'm not sure how it works buying Vanguard Canada ETFs. I know that if I were to buy VOO or something I would lose a whole bunch of money on paying American capital gains tax + currency conversion fees of the broker.

But in this case does not matter?
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>>979763
>Btw should I wait for the rate of CAD to USD to go back up at least a little bit?
you might be waiting a long time if the oil bears are right. oil will go back up......eventually.....that's certain. but eventually could be another year. can you wait a year. because the CAD is an oil currency.

VFV is not even offered on the US exchanges. to buy it, you'll need to look up VFV.TO in QT symbol look up. i just went into my account, VFV is denominated in CAD so you won't lose any to currency conversion.
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>>979774
>VFV is not even offered on the US exchanges. to buy it, you'll need to look up VFV.TO in QT symbol look up. i just went into my account, VFV is denominated in CAD so you won't lose any to currency conversion

But I don't get how the fluctuation of CAD affects it.

Since it's all into American companies how does it work if CAD rises/falls, what happens to my dosh?
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>>979777
that's a good question. you should email vanguard.

just looking at the chart since inception, VFV has done nothing but gone up even though the CAD had devalued against the USD. i don't think you need to worry about currency fluctuations.
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>>979793
>that's a good question. you should email vanguard
I might but i trust them tbqh

>just looking at the chart since inception, VFV has done nothing but gone up even though the CAD had devalued against the USD

I know man, I wish I bought as much as I could much earlier... How can it possibly be going up so much? I thought 7% p/a returns was about as much as you could expect?
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>>979797
we've been in a bull market since 2008. gotta get dem recovery gainz.

for comparison, SPY has gone up about 49% since 2012. same year VFV was offered.

maybe vanguard canada are wizards
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>>979803
ok all my money is going into this shit, this is the secret to riches
Thread posts: 20
Thread images: 2


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