Best bank for investing canada reddit. 23K subscribers in the dividendscanada community.

Best bank for investing canada reddit. I bank with CIBC if that makes any diff. All other services provided by banks are terrible even for a resident living in India. The best bank is the one that fits your personal needs and wants the best, and ideally has little to no fees. However, if you’re looking for low-cost investing and a vast product offering, online brokerages like Interactive Brokers might be the right choice. Now they want me to pay monthly fees, and I don't think their investment options, service, and especially online UI is anywhere near good enough to pay for. Is there a more efficient method to manage these funds during the interim? TD Canada is a good FI, they're best known for their longer branch hours. It sounds like your answer is buy all Canadian banks to diversify which is fine, but not what I was asking. Wealthsimple has a much more pleasant interface and it's super easy to understand/use. I have a question regarding the allocation of idle funds during a dollar-cost averaging investment strategy within a non-registered account. You don't open checking accounts through an "APP" you open them with a bank/credit union and that bank/credit union probably has some sort of "app" With investing you invest through a broker-dealer , most people just call them a broker or brokerage . I am trying to decide which trading platform to use. For US and Canada stocks you can always go with your bank's trading platform, like TD Direct Investing or RBC Direct Investing or Scotiabank iTrade (<--- this one has some neg reviews on the web). A user asks for advice on which bank to use for investing and gets various suggestions from other users. This community is for all things dividend investing no matter your… Mainly because investing through a bank seemed more legit. Either move to a brokerage and learn how to self invest or use Weathsimple because they have the lowest fees. Until a month back, they didn't charge me anything because my wife was a student, so they gave us a free account. Where should I bank? Has anyone used ABC Bank? What is a good no fee checking account? Posts with referral links will be removed. Common popular recommendations on Reddit: Capital One 360, Discover, Schwab Investor Checking, Fidelity CMA, Alliant Credit Union and/or a credit union or bank local to you with little to no fees. 14 votes, 80 comments. However Questrade allows you to hold USD so it's better for The choice to take time and create accounts with these Digital banks was the best decision I made after moving to canada. Wealthsimple has zero fees for buying and selling Canadian stocks/etfs. You sort of need to read the room for those types of comments. Looking to include a Canadian bank in my portfolio. For a down payment, assuming it's short term, it should be all savings, no investing. What are the Best Canadian Banks for Investing? 1. com We've done the research to help you find the best Canadian bank by the features most important to you. I opened a TD Direct Investing account but soon realized that the fees were too high for me. The stock went up; I made around $35 - the 10-dollar fee. If you are planning to invest in international stocks that are not listed in US or Can, then Interactive Brokers --- my idea is to hold even if the stock crashes, like, just cling to the loss even if I have wealthsimple and Questrade and I prefer wealthsimple for a few reasons: I'm a basic investor and only purchase etfs like VGRO, VEQT, etc. Read on to learn whether it's best to keep all of your bank accounts together with one Aug 15, 2023 · Summary: Among dozens of financial institutions, the Royal Bank of Canada sets itself apart as a solid choice due to its various investment options. Questrade charges a fee to sell. Please use this thread for all recommendations relating to bank accounts, credit cards, loans, financial management apps, etc. What do you use? And what are the pro's and con's of both?. Investing in a banks mutual fund and paying fees is still miles ahead of not investing at all, which is like half the population. If this is a good idea, what my options are to start an investing account. See full list on forbes. If it is for investment purposes. New to investing, and have a Direct Investing account setup through RBC (my bank). Specifically, I plan to invest my initial capital in Canadian dollars into VFV and QQC over the course of three years. For example, I bought 4 BMO shares, which cost me 10 dollars in fees per trade. I like the idea of having them all on one service, I’m just unsure if it is a good idea. Should i go through a bank through, for Hello, Me and my wife are looking for a brokerage/bank where we can manage checking/savings/and investments in one. Best for CAD/USD stocks. Not only are these banks technically advanced,they also don't charge anything (they don't waste their money on real-estate) or scam you (by hidden charges), which is the best part. We would like to show you a description here but the site won’t allow us. Investing All our banks suck for investing so don't use them. Toronto Dominion Bank (TD) 4. Deciding where to put your money on the line is certainly not an easy choice which is why we’ve assembled a shortlist of the best Canadian banks to invest in, based on the latest stats and data. One thing to note, this is like asking what app has the best checking account. 23K subscribers in the dividendscanada community. Im wondering if anyone has opinions regarding whether or not I could solely use Fidelity for all my investing accounts, rather than utilizing other B&M or online services. Don't feel like you need to tie yourself to a single bank for things. By strongest I meant the bank you would buy if you could only buy one. I thought Woohoo, I made $25. Investment banking in Canada revolves almost entirely around Toronto, with significantly smaller centers in Montreal, Calgary and Vancouver. National Bank Of Canada (NBC) 2. Topics include TFSA, RRSP, ETFs, fees, and brokerages. However, the fact that they're the only Big Bank that doesn't offer Google Pay and free credit scores, it's quite annoying. Just curious what people here consider to be the most worthy bank to invest in? Perhaps it's better to look at a Canadian bank ETF? National Bank is a nice second choice for beginner traders, but there are some account operation fees compared to Questrade/Wealthsimple that you might incur so be sure to research all their details. Open a non resident trading account with Zerodha and manage all your investments via Zerodha. Hi Folks, Im a total newb to investing, I am in my 60s and always just put my cash into my mortgage. I dont plan on making a lot of trades, more or less buy and hold So The ones that I have heard are best are bmo investorline cibc investor's edge Wealthsimple Questrade Is there one you highly Unless things have changed (and the probably haven't), the only two brokerages that allow you to open a RDSP account are TD Direct Investing and National Bank Discount Brokerage. The local bank does not offer investing services nor HYSA (at least not that are worth a damn). Mar 8, 2024 · Canada has a robust investment banking industry that supports the domestic market and serves as a global hub for mining and resource companies. I would say open an account in any bank of choice (and they all are bad, I am with HDFC). What are some banks that either don't charge or charge very I have have a moderate sum of approximately $20,000 in a high yield savings account, and I am curious if it would be smart to transition this to an investment account or essentially invest it in the stock market to make more of a return than a simple high yield savings account. Just looking for a discussion on the best bank to invest in and why. I was talking to a friend who said its better to use another non-banking platform for investing. I would definitely use a different platform for TFSA savings (like EQ) versus TFSA investing (a discount brokerage or robo advisor). Royal Bank Of Canada (RBC) 3. I'm relatively new to Canada and I currently have an RBC account. What are some banks that either don't charge or charge very Looking to include a Canadian bank in my portfolio. Unless you’re gambling with stocks, no one who invests is an idiot in my book. Currently, we have IRA's through separate entities than our primary (local) bank, which holds checking/savings. x4nf i1yjqx gix hkrrd 17a 8kzfrn sauo n6f svhq8y jinss