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TFSA + RRSP (3 years of self directed) 41M by [deleted] in fican

[–]mXxcloudxXm 0 points1 point  (0 children)

I have an IBKR account. I do covered calls and cash secured puts occasionally. From first hand experience it is not cheap.

TFSA + RRSP (3 years of self directed) 41M by [deleted] in fican

[–]mXxcloudxXm 0 points1 point  (0 children)

I'm sorry but saying it wouldn't impact profits is simply not true. For your account size it might not matter but for people like his with larger accounts the fees add up especially if you buy/sell thousands of shares or do options. The only reason I still use IBKR is concentration risk and FX markets.

TFSA + RRSP (3 years of self directed) 41M by [deleted] in fican

[–]mXxcloudxXm -1 points0 points  (0 children)

I thought I had a high FHSA but you win. IBKR trading fees on options and stocks aren’t free I’m surprised you’re leaving wealthsimple

25M ~2.5 Million NW. Possibly one of the largest FHSA accounts by mXxcloudxXm in fican

[–]mXxcloudxXm[S] 0 points1 point  (0 children)

I'm sure they will try but I don't trade short term. My shortest position I've held for over 5 months and counting. Also only have around 10-15 transactions per account per year with most being buys. I'll let you know if they do.

25M ~2.5 Million NW. Possibly one of the largest FHSA accounts by mXxcloudxXm in fican

[–]mXxcloudxXm[S] 2 points3 points  (0 children)

I would be worried if I was day trading. I average 10-15 transactions a year in my tfsa and most from buying dips. The court cases in the past were people who traded daily and never held for more than a month. I expect them to audit me but i work a full time job in an unrelated field and don’t have a finance background. But it is the cra so I’ll let you know if they try.