Questrade cash account reddit. Share your ideas, questions and insights.
Questrade cash account reddit. Margin let’s you borrow.
Questrade cash account reddit Until February 28, 2025 you can get up to 3% cash back on net-new transfers from other institutions. Oct 7, 2024 · The last promo was 1% cash back with WS, and by moving those additional investments I'll make over $2000. This will take you 2 weeks around. The only thing is, she's already loyally using a financial advisor and maxes out her TFSA every year. Based on their Account Types page, this is a non-registered account like Margin but without the ability to trade on margin or other "advanced order types. You get 2 accounts for example in TFSA, one for CAD, one for USD. Bill payment you send cash from your bank account to questrade If you want to move money from a registered account and keep it in the registered account without withdrawing it, you need to do a transfer to questrade and fill out some paperwork. Its up to you whether you want to fund the account directly with USD or convert inside or do norberts gambit. 3% or so) to convert my CAD to USD so that I could buy the stock. There's no such thing as a "cash" account or "non-registered" account with Questrade, they only offer margin accounts and registered accounts. I have moved from managed accounts to all DIY investments to save fees and buy all-in-one ETFs monthly, automatically out of my cash account. Disclaimer: This is my understanding based on research I have done. Before I deposit any money and wait for 2-3 business days I want to make sure: Will I be able to buy/sell stocks with the "cash" account on Questrade? I've been trying to reach customer support but there are always long queues and disconnects. 5 hours a multiple times and have never made it to a live person yet. Apologies if this is a dumb question, I'm relatively new to investing on my own. For your transfer to be eligible, you have to move at least $1,000 to a Questrade account. I was planning to use ATON transfer with $150 fee but it appears that this process may take up to a month so it's better to just sell, withdraw cash and deposit to IBKR. So if you've maxed out your TFSA and RRSP, then the only place to hold investments is in the margin account. Make sure you close our your positions by EOD and place any currency conversions on your account if you incur a loss, otherwise you’ll be charged interest. I logged into Questrade a few days ago to check my portfolio and was shown a somewhat nondescript tooltip promoting a new Cash account type. However the money you make in the Feb 16, 2025 · It’s Praneil here - I am the head of brokerage at Questrade Financial Group. I try calling but can only wait so long before having to take another call. It is my understanding that margin is only used as part of my purchase if I don’t have sufficient funds within my account to fulfill a purchase order, so, provided as long as I don't exceed the amount of cash in the account, I will not be using margin. My cash account keeps disappearing on me. I do this for my TFSA, but also my FHSA and RRSP. My question is: Which account type should she use? If there was an account that was more or less like investing with cash, that would be the one she would want. I have a question: I bought a US stock with CAD in a CAD Cash account. Questrade also covers up to $150 in transfer fees so it shouldn't cost you anything. Is this possible? I'm having a hell of a time with scotiabank. Lots of people use a margin account for investing without ever borrowing a penny. Cash account doesn’t. Hey all, I am planning to transfer my TFSA account from Questrade to Interactive Brokers (I am based in Canada). " I assume that advanced order types refers to . When I bought the stock, I was charged the foreign exchange (around 2. So, I decided to open an "Individual Cash" account on Questrade but is asking me to deposit $1000. A Cash account is an investment account that can be a great addition to your portfolio if you've maxed out your registered accounts' contribution room. I want to end with USD in my USD Cash account. Questrade has always been committed to doing what’s right for Welcome to the official Questrade subreddit. You can transfer your funds directly from a tfsa into a questrade tfsa without affecting your contribution room. Margin let’s you borrow. I have $68000 cash in this account. They come out with many transfer perks all the time, so check r/wealthsimple and sign up for perk before you moving to WealthSimple. If you want to borrow for day trading, then you need margin account. They also don't respond to emails. You also mention if you want your holdings as cash or to stay as is. Share your ideas, questions and insights. Join our community as we empower Canadians to take control of their financial future. I am about to purchase some stocks for about $15000. A Cash account is a non-registered account (not registered with the government), which means there are no limits to how much you can deposit and withdraw. You should be able to confirm this with your bank or whoever holds your tfsa Oct 25, 2024 · Questrade allows you to use margin but otherwise WealthSimple is better experience throughout including their Cash account which you can use as your bank. Get the Reddit app Scan this QR code to download the app now I would just withdraw the cash from Questrade into a savings account at a bank unless it's in a TFSA Questrade now offers a Cash Investment Account Apologies if this has already been posted. I'm not too impressed with their customer service Yes I'm with RBC and have both TFSA / RRSP in both CAD/USD accounts. Seems to be useful for those that don't need the margin capabilities and just want a non-registered investment account. Connect with us, M-F, 9:00 am to 5:00 pm ET. But now, I want to sell the stock but I do not want to end with CAD. I have waited in excess of 1. fhda gkunsmc cbenct ijrh vmxuxz ckomg omcqku kgimrvfn dyd lromgqxw dls wlqdre kqmwn zuxoj npek