guys what which brokerage do you guys use. questrade is getting expensive especially since I play with options now more than actual equities.

Can anybody recommend a good brokerage that is cheap for option trader, has a great platform? Under 100k account here

IB

I recall InteractiveBroker transfer process for transferring your securities from questrade was pretty easy. Was the $1:00 min fee for buy and sell?

Anyone else getting killed by the exchange rate?

My TFSA a few months ago hit $73k, it's now at $64k... lol

I just opened a Questrade account TFSA. Looking to purchase some USD stocks, the most cost effective approach is to transfer USD funds to purchase. If I didn't have any USD funds in my bank, how does the CAD get converted to USD in order to purchase USD stocks?

Looking to only play with a few thousand dollars.

Questrade tfsa or any register account will automatically convert the cad in your account to usd at the end of the day if you buy a USD stock. The proceeds will remain in usd balance if you sell.

Not sure if it's the case with all TFSA accounts but with Questrade, you're not allowed to have foreign cash. It's all CDN. When you buy USD equities, it'll show a negative amount USD. It then exchanges enough CDN to cover the USD.

Same if you sell. It'll show you have USD after you sell but it converts it back to CDN. If you play the dividend game, you have to make sure you reinvest it before it gets exchanged to CDN otherwise, you'll get dinged with forex twice. Or... setup a DRIP and not worry about it.

I'm down about 1% on my TFSA from my last quarterly statement (continuing to invest bi-weekly, but I dropped my contribution significantly to get more of my SO's debt paid off before the interest rates started to increase). Maybe 2% down accounting for the contributions.

the most cost effective way to convert cad to usd in a trading account is to use the Norbit's Gambit method

1.buy DLR (canadian ticker) with Cnd,
2. Contact questrade customer service directly
3. request to have your DLR stock journal over to DLR.U
4. sell your DLR.U stock and get Usd.

You only pay the commission to buy and sell stock and a slight variation in bid/ask spread. Overall this will be much cheaper than just letting questrade convert your money. Make a even bigger different the more money you are exchanging



Anybody got caught up with the HMNY/moviepass mess? got in $9, got out at like $20. Saw the craziness and try to day trade scalp it. Got caught at the top…. Lost everything I made on the come up and a little more :okay:


saw a lot of massive lost on this stock online…. like suicide inducing lost

ANy know how much questrade charges for conversion? In the account history it shows no commission / charge for conversion...

It’s tack on to the exchange rate itself.

Wish I knew about this earlier. New to investing and transferred like $15k CAD through the 200 basis points fee lol. Oh well, better to learn now than when you realize $100 - 200k later.


On the other side. What's everyone else holding onto? I have about 50% of portfolio into AAPL / BABA / JD / SBUX. Other 50% is in Canadian Bank / REIT / AI Index.

I gave up trying to "trade" the bigger name blue chips and indexes… I dont have enough capital to make a worthwhile difference.

Split half of my portfolio into wealthsimple and let them auto reconfigure my holdings.

they are holding various boring stuff, broad index, government and corporate bonds blue chips etc….


the other half i have went full retard day trading options and/or sub $10 small and mid cap stuff.

currently holding WEED.TO and HIVE.V mad gainz:ahwow:

Anyone buy WEED stocks?

Not sure why WEED went up again. Pretty sure I read about the 10% stake by Constellation last week. Guess finalization?

Sure Did
Bought 20k worth of
Weed
Aph
Acb
Abcn

All doubling my investment..In a TFSA
:fullofwin:

Sold acb early on ��. All in baba ��

Early investor. Sitting at cost average $4.20 here:fullofwin:

My brother put in approximate 500k in ACB at an average of 2 bucks a share...I told him he was crazy

Bought in at $2.01, took awhile tho for ACB.

Friend bought in at $0.81 a piece

Been in the basement floor of the MJ sector since WEED was still CGC and was sitting sub 2$. The ground floor for this sector is far gone, however any of you guys invest in the Australian pot market? Its where Canada is but about 5 years back.. some massive gains to be made. This is ground floor and should definitly be worth taking a look at.

Auscann
MGC pharma
MMJ phytotech
Creso Pharma
etc..

Not to mention Canopy has a huge foothold share in Auscann (aka the canopy of australia)
Aussies are fast tracking legalization of medical mj..
Logicstically speaking, Australia is much closer to Asia and can become a monster in the game when legilsation changes.

I my self dont know much about investing in foreign companies. I had baught shares through TD at 300$ a trade... insane.. Can anyone here enlighten me on how taxes and capital gains work on foreign investments? I have shares in both my TSFA and regular trading accounts..

Tsfa Gains are not taxable.
Any other gains would be most likely be subject to ruffly a 39percent tax on your profit.

BrokeBack

Capital gains from foreign investment would be multiplied by 1/2 then added to taxable income

anybody have more info on these aussie weed stock? questrade saids you are allow to hold asx stock in a tfsa

Federal marijuana legislation clears House of Commons, headed for the Senate - Politics - CBC News

More good news for us weedbois.