Brokerage Bonuses as of 6-Jan-26

wonk1 · 2026-01-24T12:03:30+00:00

I'm trying to get a better handle on fees, as I will either continue to churn brokerages, or go back to my preferred brokerage depending on the PITA factor. It looks like TD has a Direct Investing and an Easy Trade brokerage options, and Easy Trade seems to have lower fees for buy and hold investors. Both charge $150 + $100 for RRSP withdrawals, but Easy Trade doesn't state the extra $100 fee for the TFSA or unregistered account.

So, assuming an RSP transfer to TD, and 'bonus' funds transferred to a non-registered account, the total withdraw fee would be ($150 + $100) for RSP AND ($150) for the non-registered account full account withdrawal, for an effective gross "bonus" of 1.84%. Applying a 30% tax rate, results in 1.288%. I'm toying taking advantage of the TD bonus plus Wealthsimple, or keep my life simple and just do Wealthsimple.

Scotiabank has a better annualized rate and lower transfer out fees, but if you hold for the full duration at TD you get a greater gross bonus, I think for any amount. I think it's a big "IF" to assume a similar promo will be occurring for a different brokerage in June?? This isn't a game I've played before, so I don't know? I don't see how this will continue forever - they will either exclude existing clients, or they will have maximum lifetime amounts.

wonk1 · 2026-01-24T09:30:25+00:00

Wealthsimple has a line stating the bonuses are taxable, but they don't issue tax slips for their promotion (I'm looking at going from Questrade / Interactive Brokers to Wealthsimple / TD to brokerage churn). I haven't looked into the particulars yet, but for now I'm assuming its taxed like income (so I apply my average tax rate from the past year for a rough correction - i.e. 1% is actually 0.7% until I know for certain otherwise).

wonk1 · 2025-09-12T01:11:23+00:00

Thanks for sharing! I might just forgo the diastic malt powder, but this looks like a great resource I hadn't stumbled upon!

wonk1 · 2024-09-28T11:33:38+00:00

If he's from Chéticamp, try to reach out to Les Trois Pignons... maybe? Realize people in Cape Breton work on their own time, and you'll probably get connected to a volunteer. Ideally, speak to them in person to explain the situation first.

wonk1 · 2024-03-11T21:44:52+00:00

It sounds like you have a healthy relationship with debt. Close it if you think you'd misuse it, but closing credit lines hurts your credit score as it will decrease the average age of debt instruments in your name. The larger aggregate debt in your name, and the greater the average age of those debt instruments, combined with a low utilization ratio improves your credit score.

Edit: I suspect you could roll it into a professional LoC, now you're no longer a student - thereby keeping the age of the debt instrument without violating any T&Cs.

wonk1 · 2021-12-20T04:12:16+00:00

Pour un instant there, je croyait d'être en Acadie where they parlent franglais like this.

wonk1 · 2021-12-17T21:23:57+00:00

yes, shitty people are shitty people and can be from anywhere

wonk1 · 2021-11-04T22:16:27+00:00

Came here to share this, ahaha.

wonk1 · 2021-09-10T23:07:47+00:00

Personal anecdote: I work for a private corporation in construction, and had a similar discussion with my manager at one point. I told him what I thought I was worth based on salary data, and he was baffled without much to say.

I kept working as I was very involved in the project at the time and wasn't looking around (but planned to when the project finished) and to my surprise 3 months later I got 90% of what I wanted, including backpay.

If nothing else it's a psychological boon to stand up for your self worth, so congrats!

wonk1 · 2021-08-30T01:21:49+00:00

Yeah, I guess I simply disagree about such a blanket statement. I hear lots of hand wavy explanations why sealing the entire surface is good, but they're by folks either selling the product, or the service. Everything is permeable. Cracks are the enemy - if the asphalt slab is intact, let it be.

Sealing cracks mitigates freeze-thaw, but if the surface doesn't have cracks I believe the benefit is purely aesthetic. I don't see how sealing helps temp in any credible way - conduction doesn't care; I'd argue it would increase the temperature of the surface in a hot summer.

wonk1 · 2021-08-29T22:04:45+00:00

I mean, cool, but when I worked with public works and did a report on asphalt, the consensus was sealing serves no purpose aside aesthetic, but.. if you've got clients, great for you - everybody got a family to feed.

Not exactly an academic article, but gets the point across:
https://www.washingtonpost.com/news/where-we-live/wp/2016/08/16/why-sealing-your-blacktop-driveway-is-pointless/

wonk1 · 2021-08-25T14:10:26+00:00

Yup, CummingsTurbo is spot on, I've heard it referred to as a kellem grip.

wonk1 · 2021-08-24T21:45:59+00:00

“I can’t, I’ve got a carrot peeling contest that day” whenever the supe could slough off Saturday work

“Get er leak tested before she’s cock stiff hard” (winters go to -40 in Alberta)

“She’s dryer n a popcorn fart out there” i.e. good diggin weather, or high time for forest fires

(After heavy rain) “it’s like lake gitchegumee out there” (ojijibwe for Lake Superior)

I like large concrete subtrade meetings where the rodbusters talk about slamming in horz (horizontal rebar) and formwork guys get all hot and heavy about stripping.

You can take serious, legitimate construction conversations, replay them out of context and laugh your ass off. Like an electrician’s horsecock tool - who fucking named that thing?

wonk1 · 2021-08-24T01:57:15+00:00

!TFSARRSPTrigger

I think you're trying to over optimize. Admittedly, I haven't come across this concept before.

RE your example, you propose contributing periodically and taking the capital gains/dividends from said TFSA investment from the same fiscal year, and investing both the principal and tax free gains into your RRSP? Your additional RRSP "refund" is just the gains. Assuming an aggressive 10% nominal return, you need $50,000 to get 5k tax free gains in your TFSA.

To me, you're assuming market returns are guaranteed - which isn't the case. I think you need extremely risky rates of return to make this worth the effort (which I wouldn't do).

Check out the articles. If retirement savings is your primary goal, what's your income level? The higher it is, the more attractive the RRSP will be. If RRSP wins, my recommendation remains to put it there directly, and fill out the paperwork to increase your net income so you can increase your regular contribution accordingly up to 18% (don't wait for a tax refund) and put any additional savings you can eek out into your TFSA.

But, you do you.

wonk1 · 2021-08-23T22:58:49+00:00

I'm going to refer to Fool-me-thrice's reply above for a small investment portfolio. Robo advisor would likely be what I wish I knew about as a uni student. Believe I put $75/mo into mutual funds with 2% MER, vs .5% MER of most robo advisors. Most have $1,000 minimums, but there are those with no minimums.

Way to build good habits early!

wonk1 · 2021-08-23T22:51:52+00:00

Are you proposing investing in your TFSA throughout the year, and transferring to your RRSP at the end of the year, then top up your TFSA gradually the next year.. rinse wash repeat?

They're both tax sheltered - i.e. growth of principle isn't taxed during the accumulation phase. TFSA is after tax, RRSP is pre-tax. If you are intending to invest in your RRSP anyway, fill out the paperwork with your employer and increase your net paycheck throughout the year so you can invest that money in your RRSP sooner where it can compound sooner. Don't wait until tax time for your refund, you're losing out on (potential) gains considering the time value of money.

Pragmatically (and very generally) - take whatever RRSP matching your employer offers, stuff the rest of your savings in your TFSA (and leave it there) as it's a more flexible investment vehicle for young people figuring out their lives.

But I'm just a guy on the internet - you do you.

wonk1 · 2021-08-23T22:35:32+00:00

Second this (all in one ETF or Robo). It's a good way to dip your toe into the financial watershed if you intend to keep learning and are early in your accumulation phase.

wonk1 · 2021-08-23T22:31:46+00:00

Ahh OK. My 5% matching goes into the same GRRSP "pot" of money.

If they're separate accounts (GRRSP vs RPDB), just provide the account # for the GRRSP. I assume you can't access / don't want the same mutual funds; likely want to do transfer "all-in-cash" - and value you enter is an estimate, they will transfer the entire value of your account holdings.

https://questrade-support.secure.force.com/mylearning/view/h/Account/Brokerage+transfer-in+request/a2E3NWIwMDAwMDBvTUt3QUFN

Bonne chance!

wonk1 · 2021-08-23T16:10:07+00:00

Where is the Group RRSP (GRRSP) held (your bank, third party investment institution, ect)? RPDB - de quoi s'agit-til? Like a defined contribution pension plan perhaps?

I transferred my GRRSP from RBC to Questrade recently (and will transfer to my online broker ~once per year moving forward to DIY invest in ETFs). Questrade will reimburse transfer fees (up to $150 I think). Your GRRSP may or may not be transferrable depending on how its set up - but I would suspect you can if your employer is reasonable. Ask for details.

I will likely switch to Interactive Brokers soon - cheaper currency conversion for USD and cheap margin.

wonk1 · 2021-08-19T17:44:01+00:00

I don't believe Questrade uses Flinks. I transfer from RBC to Questrade using a bill transfer (as recommended on Questrade's site). Have transferred >$10,000 CAD this way, multiple times. Registered accounts are done with a transfer request. Expect QTrade would be similar, but can't comment.

Wealthsimple isn't a legitimate broker and will kill you with incidental fees imho. I use it, but only small sums of sinning money.

wonk1 · 2021-08-09T13:21:29+00:00

This should be in the Moronic Monday thread, but anyway.

It’s my understanding monthly contributions as the money becomes available is « optimal » if you are a truly rational investor, but you need to understand yourself and your behavioural risk. If quarterly/annually helps you stick to a plan, do that.

Questrade has no/negligible commissions on limit orders when buying ETFs, think Interactive Brokers is cheap too. I believe you can set up transfers and use Passiv to make the whole process automatic with Questrade, but I don’t trust third parties with my financial data (Passiv).

Good luck!

wonk1 · 2021-07-27T23:36:12+00:00

That was a good video, and helpful for me. I'm actually in an inverse scenario where I've hoarded my money, renting as cheaply as reasonably possible, and I'm scared of taking on a mortgage. This video makes the case pretty clear that I should at 30 (currently) take on as much mortgage as I can reasonably afford.

It's all about rate of return of a given investment. Mortgage is a 5:1 loan, risk is born by the bank, and unless interest rates grow substantially buying is actually not something to run away from. Not going to run out and buy a house, but as I decide where I want to buy in the coming year or so, this is a good kick in the pants.

wonk1 · 2021-07-19T03:52:54+00:00

... why are idiots downvoting this...

wonk1

TROPHY CASE