Comments on: TD Waterhouse Review

By: Stock Brokers Comparison Team

Stock Brokers Comparison Team — Sun, 13 Nov 2011 11:19:57 +0000

I believe TD Waterhouse is a quite good platform and their support is quite well. I like to save on the conversions by having a US account with them. Though I still kinda find it their trading fee is high, but it seems that I can not find any bank in Canada which charge a much lower fee for trading stocks so till then I will probably stick with them.

By: Canadian Capitalist

Canadian Capitalist — Thu, 28 Oct 2010 18:03:37 +0000

@Jim: Yes, those are the steps. Note that you don’t have to call to wash the trade because when you sell the inter-listed stock in a USD investment account, your proceeds stay in US dollars.

Another thing to note is that you’ll have to keep track of capital gains / losses in step 4 and capital gains in step 7 (capital losses in step 7 cannot be claimed). However, these should be minimal if you are transactions occur in the same day.

By: Jim

Jim — Thu, 28 Oct 2010 17:02:00 +0000

CC: I’m trying to purchase a US ETF within my RRSP with my yearly RRSP contribution, all without incurring a 1%+ or $200+ foreign exchange hit. I think the steps are as follows. Please correct me if I got it wrong. Thanks for your help:

1) transfer funds to canadian cash brokerage account
2) purchase inter-listed stock on TSX
3) call TD to journal the stock to US cash brokerage account
4) sell inter-listed stock within US cash brokerage account
5) buy US ETF
6) call to wash the trade
7) call TD to transfer US ETF in-kind to TD self-directed RRSP.

Thanks,

By: How to avoid currency conversions on US Dividends | MoneySense

How to avoid currency conversions on US Dividends | MoneySense — Tue, 26 Oct 2010 13:36:48 +0000

[...] received in a self-directed RRSP account. These two methods work at TD Waterhouse (my review here), where the reader holds his accounts but the first — synthetic DRiPs — should be [...]

By: How to avoid currency conversions on US Dividends | Canadian Capitalist

How to avoid currency conversions on US Dividends | Canadian Capitalist — Mon, 25 Oct 2010 04:38:46 +0000

[...] received in a self-directed RRSP account. These two methods work at TD Waterhouse (my review here), where the reader holds his accounts but the first — synthetic DRiPs — should be [...]

By: Harry Jaglalsingh

Harry Jaglalsingh — Sat, 15 May 2010 01:52:20 +0000

I inherited the TD Organisation for having been a client of Canada Trust. Its been down hill ever since.
Using TD WebBroker, I’m entreated to every manner of inaccuracies, shut downs,weeks to months delays in response to enquiries etc etc.
To understand TD and for that matter every bank and insurer in this country, one needs remember that:
Edmund Clark, TD’s CEO, in the middle of the recent financial crisis, stated publicly that if the bank did something stupid(sic),he would look to the retail operations and or the Government to make up the losses!
Sometime later the Finance Minister commented on Clark’s posture with a statement that would require some grounding in geometry as describes the tangential curve function,to understand why there is nothing new nor will there ever be. Its the same old order respecting everything monetary, and am going back thousands of years ago. Happy trading.
HJS.

By: David

David — Fri, 14 May 2010 12:35:21 +0000

opps – I meant to add for full disclosure that I work for Steadyhand Investment Funds

By: David

David — Fri, 14 May 2010 12:34:36 +0000

I like the way TDW integrates with my banking accounts – smooth transfers for sure.

I did not have a good experience on buying a Steadyhand Mutual Fund though. I purchased $15,000 of the Income Fund (it is not available online so I needed to call in).

The chap at the call centre was very good and friendly. He lives in Ottawa – go figure!

In any event, the next day I received an email directing me to my account and that there had been a transaction. When I went to the account, I saw a buy of Steadyhand Income Fund for $14,700. I called and they told me that Steadyhand is “one of 8 firms that don’t have an arrangement with TD” and that I was being charged 2% of the purchase value. I questioned whether this was disclosed to me and the response was something like “normal industry practice” – like I should have known this going in!

I suggested that all calls are recorded and that they should review the tape for actual disclosure, since I was unaware of industry practice and needed to be told that I would be charged. They reviewed the tape, came back the next day and reversed, at my request, the trade acknowledging that I was never informed.

It ended up a good learning experience for me, but I wonder how many other people are unaware of this practice and do not “see” this fee on their statements?

By: Save on Canadian Dollar to US Dollar Conversions (and vice versa) | Canadian Capitalist

Wed, 17 Mar 2010 15:31:45 +0000

[...] into Canadian dollars). I’ll illustrate how to execute this trick at TD Waterhouse (read my review here) with TD Bank’s stock as an example but it should also be possible at other discount brokers [...]

By: Aiden

Aiden — Tue, 16 Mar 2010 18:38:01 +0000

I have been a customer of TDW for about 15 years, and have about 200,000+ business with them.
I have both a US & CDN margin account with them… plus my RRSP account.
I trade US and CDN stocks in my CDN Margin accounts… for a flat 9.95 per trade.Same in my RRSP Acct.
I don’t use my US margin acct… no advantage…except I think it might save me money with options.
I pay no currency conversion costs,
I’m not sure what wash trades are……………..

A.N.