Maintenance Fee for trading in canada

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I was shocked learn that the TD bank and I assume the other banks are charging a FEE ($25) for trading accounts of less than $15,000 Canadian on a quarterly base.( A $100 per year) Who do you recommend to cut out these FEES. Not good for dividend stocks…

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Asked on December 14, 2020 4:35 am
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Private answer

Unfortunately,

Most of the Canadian Banks are the same. If you have a smaller portfolio, make smaller transactions and thus want to avoid fees, WealthSimple Trade is the best option at the moment as they have no account fees and no trading fees. Questrade is also a good option. It used to charge an inactivation fee quarterly, but since October 2020 that fee has now been waived. They do charge for stock trading, but at much lower transaction fees than the bank brokerages.

Mat

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Posted by Mathieu Litalien
Answered on December 14, 2020 4:58 am
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