Comments on: 2009 Globe and Mail Discount Broker Rankings

By: Your Turn: Opening an US Dollar Self-Directed RRSP Account with QTrade | Canadian Capitalist

Wed, 13 Jan 2010 01:58:54 +0000

[...] 2010 · No Comments QTrade (a reader shares his experience with the broker here), which consistently earns top honours in Globe and Mail’s annual discount broker rankings, is now offering US-dollar self-directed RRSP accounts. These accounts would allow investors [...]

By: Steve C

Steve C — Tue, 17 Nov 2009 02:44:10 +0000

It is outrageous that RBC Direct Investing took away their Equity Research about two weeks ago!!!

By: Joseph

Joseph — Wed, 11 Nov 2009 13:11:48 +0000

I do have question – My funds are mostly in US dollar and I was thinking opening account with US discount brokerage (Charles Schwab). I did a bit research and they do allow Canadian citizens who live in Canada to open an account. Their fees are good as well . It ranges from $7.97 – $12.95 .

I probably can’t buy Canadian stocks trade on TSX.

Any downside to opening this account as far as the legality and etc?

By: Igor

Igor — Mon, 09 Nov 2009 21:49:38 +0000

My fault. I read it wrong. Missed “nothing” word

By: Canadian Capitalist

Canadian Capitalist — Mon, 09 Nov 2009 21:38:19 +0000

@Igor: What do you think is wrong in that post? It does mention that not allowing USD RRSP is not a legal requirement — simply that brokers haven’t bothered to allow it.

By: Igor

Igor — Mon, 09 Nov 2009 17:43:31 +0000

I see, then this post is somewhat wrong

http://www.investingintelligently.com/2007/11/07/ask-dave-us-dollar-investments-inside-your-rrsp/

By: Canadian Capitalist

Canadian Capitalist — Mon, 09 Nov 2009 15:57:12 +0000

@Igor: There is no law that says all cash inside an RRSP must be in Canadian dollars. It is just that the brokerages are unwilling to offer this as foreign currency transactions are a cash cow. Questrade is the only broker offering some sort of US dollar RRSP and looks like QTrade will also be doing so in the near future.

By: Igor Katkov

Igor Katkov — Mon, 09 Nov 2009 06:58:41 +0000

I’m confused with USD RRSP thing.
if it’s not a wash-trade, that TD Waterhouse has been practicing for years, how did they manage to get around this law:
“All cash inside an RRSP must be in Canadian dollars.

By: Canadian Personal Finance Blog » Blog Archive » Random Thoughts: Flip, Flop and Flu

Fri, 06 Nov 2009 07:28:33 +0000

[...] Canadian Capitalist writes about the 2009 Globe and Mail Discount Broker Rankings, which is interesting, given it doesn’t mention my brokers, but I haven’t had any [...]

By: gene

gene — Fri, 06 Nov 2009 02:37:41 +0000

Lots of people have said this, but I find it so unfortunate that Qtrade and Questrade have such similar names. Even in a short discussion like this, I get confused over which one is highly regarded (Qtrade) and which is often despised (Questrade). Maybe Qtrade should adopt the motto “We’re the Good Ones!”