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Looking to open some TD eSeries on the personal TD account. I want to open three total: TFSA, RSP, and straight unregistered. From what I understand, all I need to do is set up an appointment at my local branch, answer all the questions like I'm baller so they don't limit what stock:bond allocation I can buy, mail in the eSeries conversion forms, and wait a couple weeks. I'm just surfing through the RedFlagDeal eSeries thread and there's a lot of talk about administration fees, etc. I thought it was just low MERs and everything else doesn't cost, unless you're getting pegged for early withdrawls. Can anyone with eSeries confirm?
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Aug 7, 2014 22:10
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reflex posted:Looking to open some TD eSeries on the personal TD account. I want to open three total: TFSA, RSP, and straight unregistered. From what I understand, all I need to do is set up an appointment at my local branch, answer all the questions like I'm baller so they don't limit what stock:bond allocation I can buy, mail in the eSeries conversion forms, and wait a couple weeks. Not quite baller - more like investing for the very long term, not risk averse, and not at all bothered by fluctuations in asset values. That's what I did, and they never interfered with any decision I wanted to make (high % equities). As for fees, it's just the MER, though there is an early redemption fee if you sell units you've just bought less than X days ago (X is either 30 or 90 days, or may depend on the fund).
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Aug 7, 2014 22:14
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And then if I ever need to withdraw that money for whatever reason, I can set up the TFSA eSeries to dump into my TFSA savings account, and likewise RSP eSeries --> RSP Daily Savings Account?
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Aug 7, 2014 22:35
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Yes, that's my understanding. They seem to operate on the principle that you don't generally touch it though. Back in December, I was switching my TFSA from eSeries into ETFs at Investorline. I cashed out the whole thing into the TD TFSA cash account on the expectation that I'd still have a zero-balance TFSA e-series account that I could recontribute to if I wanted. It turns out they went ahead and closed the drat thing, so if I ever wanted to use it again, I'd need to go through the whole form exercise again. No big deal given my purposes, but it was unexpected. It's probably wise to leave a few dollars behind if you do want to cash it out.
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Aug 7, 2014 22:45
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Fair enough. A thing that pops up over and over from what I read is that eSeries are not customer friendly at all and you kind of have to figure everything out yourself. I think it'd fair to expect a certain decline in customer service if you're paying lower fees though. EDIT: Also transferring from TD TFSA Savings Account to TD eSeries TFSA doesn't count as withdrawing from TFSA to buy back in, correct? i.e. no contribution room is lost for the year. reflex fucked around with this message at 23:10 on Aug 7, 2014 |
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Aug 7, 2014 23:08
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True statement. E. Only true if you're doing a balance transfer, otherwise you would over contribute. The bank should do the legwork on that and know what to do - if it's you manually transferring it then it would count as a contribution. Guest2553 fucked around with this message at 00:57 on Aug 8, 2014 |
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Aug 8, 2014 00:55
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reflex posted:Fair enough. A thing that pops up over and over from what I read is that eSeries are not customer friendly at all and you kind of have to figure everything out yourself. I think it'd fair to expect a certain decline in customer service if you're paying lower fees though. Yup. Eseries is classic price discrimination - giving a competitive deal to savvy consumers while ensuring the unwashed masses remain ripped off.
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Aug 8, 2014 02:34
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tuyop posted:They're ECN fees! They remove liquidity when they are filling another order on the market. They add liquidity when they create a new order that sits out for someone to fill. For example, if you make a market sell or a sell with a limit equal to the bid then you are filling the order on the bid and removing liquidity. If you make a limit order to sell with a price above the bid, meaning it will sit open for someone to buy from, then you are adding liquidity. If this doesn't make sense I can try to explain in a different way.
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Aug 8, 2014 08:33
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I wonder if someone got their fingers rapped over those stats can job numbers. This past week or so took about 3% out of my overall portfolio, but it's clawing its way back decently now.
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Aug 16, 2014 02:22
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slidebite posted:I wonder if someone got their fingers rapped over those stats can job numbers. Are you kidding me? It's loving government. There are no consequences for underperformance. E: edited for snark. Forgot this isn't a dnd thread, sorry
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Aug 16, 2014 02:32
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No worries, it's all good, but the government has shown nothing but contempt for Statscan over the past few years. This isn't going to help them.
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Aug 16, 2014 02:56
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I put in an order of VUS.TO in Questrade on Thursday, and it still says "Activated". This is my first trade using Questrade. I only set the duration to "Day". Shouldn't it have failed by now?
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Aug 18, 2014 19:18
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Rick Rickshaw posted:I put in an order of VUS.TO in Questrade on Thursday, and it still says "Activated". http://help.questrade.com/how-to/iq-web/account-summary/order-history/order-statuses#.U_JVa_ldWSo quote:Activated I would call them.
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Aug 18, 2014 20:36
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Had my first learning experience in stocks this past month. Mining firm which I bought into at $0.50 earlier in the spring suddenly jumped up to $0.98 and stayed in the $0.80's for a week or so. I reasoned that I should wait it out since it was caused by very good news from the company, aaaand it's back to $0.58 now. In retrospect, I should have sold at the high and re-invested the $1400 profit back into the company when it dipped again. 
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Aug 19, 2014 22:43
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I'm getting slightly annoyed by the delays involved with buying index funds. I know it's tiny in the long run, but after the value of my funds dropped down back about where I originally bought them, I wanted to buy some more. You know, all that market timing with the swings up and down stuff. And sure enough it starts to jump back up, except it takes a couple days for the trade to clear... so it will likely peak just as the trade goes through, then drop back down to put me in the red. Maybe it will convince me not to watch it and just put money in once a month.
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Aug 20, 2014 00:09
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^ Don't watch it. But on a schedule, ideally automated, and loving ignore it otherwise.
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Aug 20, 2014 02:59
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Why is it taking so long for the trade to go through? Are you buying commission-free ETFs from Questrade like you should be? My order of VUS.TO today went through immediately. Regardless, you shouldn't be watching the market when buying index funds. Even if there's another financial crisis - ignore it!
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Aug 20, 2014 03:05
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Golluk posted:I'm getting slightly annoyed by the delays involved with buying index funds. I know it's tiny in the long run, but after the value of my funds dropped down back about where I originally bought them, I wanted to buy some more. You know, all that market timing with the swings up and down stuff. And sure enough it starts to jump back up, except it takes a couple days for the trade to clear... so it will likely peak just as the trade goes through, then drop back down to put me in the red. There shouldn't be a delay on buying anything except mutual funds. You put in the order, it executes immediately if possible then it takes T+3 days for the transaction to settle. The price you pay for the stock isn't the price at the settlement date, it's the price when the order was executed.
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Aug 20, 2014 03:11
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Vatek posted:There shouldn't be a delay on buying anything except mutual funds. You put in the order, it executes immediately if possible then it takes T+3 days for the transaction to settle. The price you pay for the stock isn't the price at the settlement date, it's the price when the order was executed. He probably is talking about mutual funds.
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Aug 20, 2014 03:23
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Shouldn't we all be buying ETFs commission-free with Questrade? I'm setup with Questrade, and will be moving my funds over from TD.
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Aug 20, 2014 13:15
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Rick Rickshaw posted:Shouldn't we all be buying ETFs commission-free with Questrade? I don't think it's a panacea. An e-series portfolio has a pretty low MER and is much less scary than dealing with a trading platform. But those are the only two options I would recommend for people, knowing very little about the other competitors.
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Aug 20, 2014 14:01
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Kal Torak posted:He probably is talking about mutual funds. Mutual fund trades are performed at market close on the day the order is executed. I think he's confused about the settlement period but who knows.
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Aug 20, 2014 14:25
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Vatek posted:Mutual fund trades are performed at market close on the day the order is executed. I think he's confused about the settlement period but who knows. I'm no mutual fund expert but my understanding is that some funds do not trade every day. Also, I believe there is an early afternoon cutoff so that if you get in your order too late, it won't settle until the end of market close on the following day which could be why he said it takes a couple days to clear. That's what I assumed anyway.
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Aug 20, 2014 15:28
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Yeah, I'm currently investing with TD and the e-series funds. It seems like the trade went through today (shows in my transaction history with a buy price), though the actual purchase is still in the settling period. I'll get bored of watching it eventually.
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Aug 21, 2014 03:40
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Hey guys, so I'm just finally at 23 starting to take care of my finances. I have a student loan I'm about to start paying and $2.5k in credit card debt. I am trying to save some cash and RBC is charging me $11/monthly for my chequing account. I was thinking about switching to Tangerine or PC Financial. Does anyone have any downsides to switching to an account like that? I've been with RBC this whole time only because they were the only bank that would approve my student line of credit (4k). Saving and investing doesn't really matter for me until my credit cards are paid off since that obviously has to be priority #1 for me to eventually gain some wealth. PC Financial and CIBC might have more convenient ATMs than Tangerine and Scotia. That's the only comparison between the two, I see that is obvious for me.
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Aug 23, 2014 00:09
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Good Canadian Boy posted:Hey guys, so I'm just finally at 23 starting to take care of my finances. I have a student loan I'm about to start paying and $2.5k in credit card debt. I am trying to save some cash and RBC is charging me $11/monthly for my chequing account. I was thinking about switching to Tangerine or PC Financial. Does anyone have any downsides to switching to an account like that? I've been with RBC this whole time only because they were the only bank that would approve my student line of credit (4k). Saving and investing doesn't really matter for me until my credit cards are paid off since that obviously has to be priority #1 for me to eventually gain some wealth.
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Aug 23, 2014 00:14
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cowofwar posted:Are you a student? Your chequing account from RBC should be free. I have a free credit card and chequing account from RBC as a student. I was, I'm not now. I was on a student account but I use HELLA interact each day so I eventually was accumulating fees higher than $11/month and then switched to an unlimited account.
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Aug 23, 2014 00:26
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Good Canadian Boy posted:I was, I'm not now. I was on a student account but I use HELLA interact each day so I eventually was accumulating fees higher than $11/month and then switched to an unlimited account.
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Aug 23, 2014 01:01
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I have been with PCF for years and been a pretty big fan of it. The ability to use CIBC bank machines as a PCF machine is very handy.
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Aug 23, 2014 01:23
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A few months ago I switched to Tangerine and don't have huge complaints. I guess it depends on what you use it for. I have a USD account, and I'm headed to New York next week but I can't withdraw US cash from it. I guess you have to do that from an actual Tangerine ABM which are only located in like Toronto and Calgary. There isn't one in Edmonton which is ridiculously annoying. It's not perfect but if all you need is chequing and savings, I don't know why you would stick with one of the big 5.
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Aug 23, 2014 05:43
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Kal Torak posted:A few months ago I switched to Tangerine and don't have huge complaints. I guess it depends on what you use it for. I have a USD account, and I'm headed to New York next week but I can't withdraw US cash from it. I guess you have to do that from an actual Tangerine ABM which are only located in like Toronto and Calgary. There isn't one in Edmonton which is ridiculously annoying. Well technically you are still with the big five. All the "little" banks are wholly owned by the big players. I think Scotiabank owns tangerine.
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Aug 23, 2014 07:23
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Demon_Corsair posted:Well technically you are still with the big five. All the "little" banks are wholly owned by the big players. I think Scotiabank owns tangerine. Yes, I know that.
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Aug 23, 2014 15:56
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Kal Torak posted:A few months ago I switched to Tangerine and don't have huge complaints. I guess it depends on what you use it for. I have a USD account, and I'm headed to New York next week but I can't withdraw US cash from it. I guess you have to do that from an actual Tangerine ABM which are only located in like Toronto and Calgary. There isn't one in Edmonton which is ridiculously annoying. I'm with Tangerine and actually in NYC right now. I know it's not perfect, but I've been impressed with the tightness of the forex spreads with regular ATM withdrawals. Very reasonable.
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Aug 23, 2014 16:38
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Lexicon posted:I'm with Tangerine and actually in NYC right now. I know it's not perfect, but I've been impressed with the tightness of the forex spreads with regular ATM withdrawals. Very reasonable. Thanks for letting me know. According to their website I should be using B of A due to the Global ATM alliance.
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Aug 23, 2014 17:24
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Does this article make sense to any of you? Looking for a fact check. http://mainlymacro.blogspot.co.uk/2014/04/house-prices-and-secular-stagnation.html
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Aug 23, 2014 17:44
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Kal Torak posted:Thanks for letting me know. According to their website I should be using B of A due to the Global ATM alliance. Cool, good to know. The other great thing to have in your Canadian scholar of finance arsenal is the amazon.ca credit card. It's the only Canadian card that charges the spot rate for foreign transactions, unlike all the rest which help themselves to a 2.5% margin.
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Aug 23, 2014 18:48
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Lexicon posted:Cool, good to know. The other great thing to have in your Canadian scholar of finance arsenal is the amazon.ca credit card. It's the only Canadian card that charges the spot rate for foreign transactions, unlike all the rest which help themselves to a 2.5% margin. Yep, signed up for that with the express purpose of using it on this trip. 
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Aug 24, 2014 04:26
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I think I messed up my dollar cost averaging in my RRSP. All my balances are fine for everything except VCN, which I've been buying in 15 share increments for a few months. It turns out I should have been buying in 30 share increments to get my allocation. So I'm like 50 shares short. Should I just buy 50 shares right now or revise and continue dollar cost averaging every month for like three more months? I don't think I'm going to need this money any time soon (at least 10-15 years), so does it matter? I'd rather just buy the shares today and stop thinking about it.
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Aug 25, 2014 15:07
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tuyop posted:I'd rather just buy the shares today and stop thinking about it. I personally think you should have said this the day you decided to dollar-cost-average, but whatever helps you sleep at night I guess. Buy the shares.
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Aug 25, 2014 15:11
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reflex posted:Also transferring from TD TFSA Savings Account to TD eSeries TFSA doesn't count as withdrawing from TFSA to buy back in, correct? i.e. no contribution room is lost for the year. I am on the phone with e-Series right now and this is not the case. I am being told e-Series accounts can only be linked to my main chequings account. They can transfer RSP savings account --> RSP e-Series over the phone, but I'm being told TFSA savings account cannot transfer to TFSA e-Series. I have to withdraw the TFSA amount, wait until January 1, and then transfer from chequings back into TFSA e-Series. Has this been everyone's experience?
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Aug 25, 2014 16:18
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