Sorry if this is a stupid question as I'm still relatively new to investing. I'm using Wealthsimple for my TSX/Canadian stocks, and am in the process of joining Questrade for my U.S/International stocks. I have a question though regarding signing up - It asks to choose "Margin", "TFSA", "RSP", or "Forex". Do you have any recommendation on which one to choose? For Wealthsimple, I have a Personal and TFSA already. I already have an RSP at another bank, and 2 TFSAs. So not sure if there's a risk with signing up for another one? Also is 'Margin' similar to WS's "Personal" account?
Hey guys, I know you cannot trade daily in a TFSA. What type of account should I be using? I see robinhood has a 'cash' account but i dont see one on questrade. Only registered accounts, margin, and forex. What is everyone using? I dont want to trade over and over again all day but im looking to do 3-4 trades per week or every other week.
Quick Q...I have a TFSA w 41K invested in ETF's at Questrade and an RRSP account w TD in E Series funds. I now want to open a non registered (taxable account). From what I understand, I can't do this at either Questrade or my regular TD account....I would have to open another account....does it matter where, any advantages to being with TD Direct Investing vs RBC vs Scotia, vs somewhere else, etc...this is sort of a pain cause now I have to have yet another account open. If I go w TD Direct Investing, I guess I could transfer over my E Series funds to them? I have 15K contributed right now and am looking to put in 9 K into a taxable account. Is there one place that has lower fees than another for opening a non registered acct?
I want to buy usd so that i can buy us stocks. fx is obviously the best rate, does anyone know if questrade would allow me to buy usd in fx and then transfer it to my margin account? E: I called them and this is what I learned. So I just called them. When you have a CAD balance on a margin account and buy US securities, you borrow their USD, and you get charged 6.25% interest. Currency conversion from CAD to USD is 1.99% if you convert more than 10k you can negotiate that, but I haven't been told by how much. I was thinking of funding my forex account and converting cash there but it turns out that to convert cash there costs the same rate. But if you are just trading and not converting cash you can buy USD with a spread of 2-2.5pips, and you cannot transfer that USD to your margin account. So I'm going to have to find another means of converting my CAD to USD.
Hello. I just signed up for a self-directed margin account on Questrade and I am looking to trade in Forex. I just had a few questions about how margins work and how interest is accumulated on my account. So, my account uses CAD so if I open a position in, say, EUUSD, am I borrowing Euros? Or does it convert my cash that I used into Euros for me? Is the interest the same as the margin requirement? How often do I have to pay interest and when does it accrue, if ever? If i have any other questions, I'll add an edit. Thank you for your help!
Here are some important things to know about margin accounts: Interest charges are applied to your account automatically. To view interest charges, log in to Questrade, click Reports, and tap Account activity.To view rates, visit our website; If your investments go down in value, your losses are magnified and you still have to pay back your loan, plus the interest Questrade is a non-market maker trading forex and contracts for difference. While other brokers will trade against your positions to generate a profit, we will never do that. So you can rest easy knowing when you trade with us, we’re truly on your side. Search This Blog Questrade forex margins November 20, 2017 It’s packed with features and tools to boost your chances of finding profitable forex and commodities trades. Apply technical analysis and annotations in just a few clicks, personalize your watchlists, and get economic releases and alerts. Trade smarter with built-in tools and features. Key Features. Live Charting. Survey the market and stay on top of trading opportunities with live charting ... Questrade, Inc. is a registered investment dealer, a member of the Investment Industry Regulatory Organization of Canada (IIROC) and a member of the Canadian Investor Protection Fund (CIPF), the benefits of which are limited to the activities undertaken by Questrade, Inc. QWM is not a member of IIROC or the CIPF. Questrade Wealth Management Inc. is a registered Portfolio Manager, Investment ... RSI - Relative Strength Index Levels; Overbought and Oversold Regions; Introduction to Technical Analysis. Application of Technical Analysis; Different Trading Methods and Strategies With an Forex & CFD account at Questrade, you can trade currency pairs as well as stock, commodity and index contracts for difference (CFDs). Margin requirements. The margin requirement for an FX or CFD position is based on the real time value of your position (in the currency of the account). It’s the amount required to open and maintain a position. Margin call. If your equity balance drops ... Questrade forex margins. Finally, a Broker who wants you to win. Put our experience to work for you. IQ OPTION PLATFORM. Now you'll see our cutting edge platform for the world's fastest trading, giving you an opportunity to earn up to 85% profit. REGISTRATION. Registration on our platform is really easy. A couple of clicks, and you're already trading the assets of your choice! HOW TO TRADE ... Questrade Forex Margins November 23, 2017 Questrade forex fees are high, although it is one of the only top Canadian stockbrokers who offer forex trading. To have a clear picture of forex fees we calculated a forex benchmark fee for major currency pairs. This catch-all benchmark includes commissions, spreads and financing costs for all brokers. Forex benchmark fee of a $20,000 30:1 long position held for one week Questrade Qtrade RBC ...
All my stocks in my QUESTRADE margin account (75k borrowed)
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