Comments on: The Problems with RBC Action Direct http://www.canadiancapitalist.com/the-problems-with-rbc-action-direct/ Helping you invest and prosper Sun, 12 Feb 2012 00:54:40 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Peter http://www.canadiancapitalist.com/the-problems-with-rbc-action-direct/#comment-16480 Peter Sun, 31 Dec 2006 14:43:06 +0000 http://www.canadiancapitalist.com/2006/09/18/the-problems-with-rbc-action-direct#comment-16480 I took advantage of their offer and transferred my accounts but will be switching back to TD asap. My experience at RBC has been nothing but one big HEADACHE ! I took advantage of their offer and transferred my accounts but will be switching back to TD asap.

My experience at RBC has been nothing but one big HEADACHE !

]]> By: Canadian Capitalist » Adieu to RBC Direct Investing http://www.canadiancapitalist.com/the-problems-with-rbc-action-direct/#comment-14705 Canadian Capitalist » Adieu to RBC Direct Investing Tue, 19 Dec 2006 03:57:36 +0000 http://www.canadiancapitalist.com/2006/09/18/the-problems-with-rbc-action-direct#comment-14705 [...] We have held investing and self-directed RRSP accounts with RBC Direct Investing for more than 5 years now but the time has come to move our accounts to another broker. I short listed just two brokerages: E*Trade (low commissions) and TD Waterhouse (wash trades, TD eFunds). [...] [...] We have held investing and self-directed RRSP accounts with RBC Direct Investing for more than 5 years now but the time has come to move our accounts to another broker. I short listed just two brokerages: E*Trade (low commissions) and TD Waterhouse (wash trades, TD eFunds). [...]

]]> By: mel http://www.canadiancapitalist.com/the-problems-with-rbc-action-direct/#comment-13194 mel Thu, 30 Nov 2006 07:09:28 +0000 http://www.canadiancapitalist.com/2006/09/18/the-problems-with-rbc-action-direct#comment-13194 any one have any pro or cons on Questrade any one have any pro or cons on Questrade

]]> By: mel http://www.canadiancapitalist.com/the-problems-with-rbc-action-direct/#comment-13193 mel Thu, 30 Nov 2006 07:06:27 +0000 http://www.canadiancapitalist.com/2006/09/18/the-problems-with-rbc-action-direct#comment-13193 I FIND WATERHOUSE REALLY POOR WITH OPTIONS TRADING ,OFTEN THEY DO NOT HAVE THE SYMBOL IN THEIR DATA BANK IF NO ONE HAD ENTERED IT BEFORE YOU AND I HAVE TO PHONE IN TO MAKE THE TRADE I FIND WATERHOUSE REALLY POOR WITH OPTIONS TRADING ,OFTEN THEY DO NOT HAVE THE SYMBOL IN THEIR DATA BANK IF NO ONE HAD ENTERED IT BEFORE YOU AND I HAVE TO PHONE IN TO MAKE THE TRADE

]]> By: Canadian Capitalist http://www.canadiancapitalist.com/the-problems-with-rbc-action-direct/#comment-9131 Canadian Capitalist Mon, 02 Oct 2006 04:00:18 +0000 http://www.canadiancapitalist.com/2006/09/18/the-problems-with-rbc-action-direct#comment-9131 I still stand by my stale data comment. The portfolio shows the closing bid price of the previous day though markets might have already closed for the current day. The GIC comment has to do with cashable GICs as discussed in some older posts. I still stand by my stale data comment. The portfolio shows the closing bid price of the previous day though markets might have already closed for the current day.

The GIC comment has to do with cashable GICs as discussed in some older posts.

]]> By: illmatic http://www.canadiancapitalist.com/the-problems-with-rbc-action-direct/#comment-9058 illmatic Fri, 29 Sep 2006 20:50:08 +0000 http://www.canadiancapitalist.com/2006/09/18/the-problems-with-rbc-action-direct#comment-9058 In response to Action Direct's 'Stale Data' - that is not the case. The price that they use is the closing BID price of the previous session, and this price may be different from the LAST. As of two weeks ago, Action Direct has implemented intra-day (real time) balances so portfolio values are updated by the second. I'm curious about your view on Action Direct's poor selection of GICs. Are you referring to simply the issuer, or the interest rates? If its simply the issuer than I'd hardly find that an issue - any purchase up to $100k is CDIC insured to begin with. In response to Action Direct’s ‘Stale Data’ – that is not the case. The price that they use is the closing BID price of the previous session, and this price may be different from the LAST. As of two weeks ago, Action Direct has implemented intra-day (real time) balances so portfolio values are updated by the second.

I’m curious about your view on Action Direct’s poor selection of GICs. Are you referring to simply the issuer, or the interest rates? If its simply the issuer than I’d hardly find that an issue – any purchase up to $100k is CDIC insured to begin with.

]]> By: doctoth http://www.canadiancapitalist.com/the-problems-with-rbc-action-direct/#comment-8656 doctoth Fri, 22 Sep 2006 02:07:37 +0000 http://www.canadiancapitalist.com/2006/09/18/the-problems-with-rbc-action-direct#comment-8656 TDwaterhouse just sent out an e-mail stating that effective Oct 30 trades will be 9.99 unlimited shares, requires 500,000 minimum family balance or 30 trades per quarter.....no fees on rrsp's etc if balance greater than 25,000 TDwaterhouse just sent out an e-mail stating that effective Oct 30 trades will be 9.99 unlimited shares, requires 500,000 minimum family balance or 30 trades per quarter…..no fees on rrsp’s etc if balance greater than 25,000

]]> By: Phil S http://www.canadiancapitalist.com/the-problems-with-rbc-action-direct/#comment-8551 Phil S Wed, 20 Sep 2006 13:09:09 +0000 http://www.canadiancapitalist.com/2006/09/18/the-problems-with-rbc-action-direct#comment-8551 I use BMO Investorline and I find their interface easy to use. Their available choices for fixed income products really sucks. The total of all my RSP and cash accounts at BMO is over $250K so I was able to get those transfer fees waived when I transferred my Scotia McLeod account to BMO. Although, I had to make an agitated phone call in order to get it waived. Their commissions are on par with everybody else, at a $29 minimum. I have never used my BMO account to trade stateside, since I also have an AMEX brokerage account down in the USA with both my IRA and cash investments. As a result, I have no idea how they work with US trading... I use BMO Investorline and I find their interface easy to use. Their available choices for fixed income products really sucks. The total of all my RSP and cash accounts at BMO is over $250K so I was able to get those transfer fees waived when I transferred my Scotia McLeod account to BMO. Although, I had to make an agitated phone call in order to get it waived. Their commissions are on par with everybody else, at a $29 minimum.
I have never used my BMO account to trade stateside, since I also have an AMEX brokerage account down in the USA with both my IRA and cash investments. As a result, I have no idea how they work with US trading…

]]> By: Hersh http://www.canadiancapitalist.com/the-problems-with-rbc-action-direct/#comment-8521 Hersh Wed, 20 Sep 2006 02:52:52 +0000 http://www.canadiancapitalist.com/2006/09/18/the-problems-with-rbc-action-direct#comment-8521 I don't actually do self-directed RRSP, but I was surprised that no discount broker offers USD$ based RRSP. I did a quick search and it looks like BMO is actually being sued regarding the conversion fees. Hopefully something good for consumers comes out of the case. http://www.investorvoice.ca/regulators/PI/2831.htm I don’t actually do self-directed RRSP, but I was surprised that no discount broker offers USD$ based RRSP.

I did a quick search and it looks like BMO is actually being sued regarding the conversion fees. Hopefully something good for consumers comes out of the case.

http://www.investorvoice.ca/regulators/PI/2831.htm

]]> By: MikeB http://www.canadiancapitalist.com/the-problems-with-rbc-action-direct/#comment-8503 MikeB Tue, 19 Sep 2006 21:38:09 +0000 http://www.canadiancapitalist.com/2006/09/18/the-problems-with-rbc-action-direct#comment-8503 Oxcc Re: #1 - In that section they list the closing bid price of the equity in question, not the last trade price. This thread is interesting b/c I have TDW and I am reasonably happy with it. This is my plan before the end of the year: i)Move USD and CAD cash accounts to etrade (>$50K therefore lowest costs in Canada) and ii)Keep my RRSP funds with TDW and take advantage of the ability to conduct the wash sale and still have benefits of TDW. With regards to the wash sale at TDW it seems to me that you should have that feature with any discount broker but I don't have a lot of experience with that. Oxcc Re: #1 – In that section they list the closing bid price of the equity in question, not the last trade price.

This thread is interesting b/c I have TDW and I am reasonably happy with it. This is my plan before the end of the year: i)Move USD and CAD cash accounts to etrade (>$50K therefore lowest costs in Canada) and ii)Keep my RRSP funds with TDW and take advantage of the ability to conduct the wash sale and still have benefits of TDW.

With regards to the wash sale at TDW it seems to me that you should have that feature with any discount broker but I don’t have a lot of experience with that.

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