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Brokerage investment savings accounts
August 22, 2023
8:14 pm
UkrainianDude
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Norman1 said
Since last update, Home Trust increased its rate to 4.65%:

ISA (Canadian Dollars) Rate
BMO High Interest Savings Account (BMT104) 4.85%
Scotiabank Investment Savings Account, Series A (DYN6000) 4.75%
Equitable High Interest Savings Account, Series A (EQB1000) 4.65%
Home Trust High Interest Savings Account, Class A (HOM100)
Manulife Bank Investment Savings Account (MIP510)
B2B Bank HIIA, Series A (BTB100) 4.55%
NBI Altamira CashPerformer Account, Series A (NBC100)
RBC Investment Savings Account, Series A (RBF2010)
Renaissance High Interest Savings Account, Series A (ATL5000)
TD Investment Savings Account, Series A (TDB8150)

  

Each bank offers a free buy/sell of their own ISA ?
So If I have opened RBC DI I can only purchase RBF2010 ? Thanks

August 23, 2023
8:17 am
HigherRate1
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Over the years I found that not all brokerage (or their trading platforms) are made equal. I constantly had to call or look for info myself and things change all the time.

Generally I would say:
NBDB allow fair amount of others' ISA (like RBF and DYN, but not F series)
I will not list the RBF 2010,2011,2014,2015 or the DYN 6000,6004,6005.. because it is easy to make a mistake. These tickers can be researched easily and when you use them to buy and sell, make sure they are 100% accurate.

The differences between the D and F ISA or CAD/USD. 0.25/0.15 trailing fees can all be found in this thread.

RBC DI disappoint me because I think they do not even allow their own clients trade the RBF F series. I assume if one can not even buy them in RBC DI, one can not buy anywhere else. also I found RBC DI charge quiet a fee if you buy ISA other than RBF. (so it's not a good option buying DYN here)

Scotia Itrade allow trading of DNY F series. That is a huge plus because you almost never find any funds offering better interest rate than DYN6004.

Then we get to the Questrade and Qtrade, they allow most ISA. Qtrade more than Questrade. Regarding fees, they differ. But all in all, not much.

August 23, 2023
5:43 pm
MG
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UkrainianDude said

Each bank offers a free buy/sell of their own ISA ?
So If I have opened RBC DI I can only purchase RBF2010 ? Thanks  

Actually, with CIBC Investor's Edge, you can buy several of the HISAs on Norman's list with no commission. I just took a screenshot of what is available. So I have purchased one of the DYN series.
CIBC-IE.png

August 24, 2023
4:57 am
savemoresaveoften
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MG said

Actually, with CIBC Investor's Edge, you can buy several of the HISAs on Norman's list with no commission. I just took a screenshot of what is available. So I have purchased one of the DYN series.
CIBC-IE.png  

Yes they allow you to buy the A series but not the F. But then that is expected.
Or you can buy the CIBC money market fund and if over $100k can get the premium funds for extra yield (due to lower MER)

August 24, 2023
3:56 pm
dougjp
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At CIBC Investors Edge, the obvious choice is BNS - DYN 6000 as BMO is not available and nobody else (including their own ISA !) is willing to really compete as proven by multiple rate change cycles.

In fact CIBC Renaissance is, IMO, an embarrassment to CIBC as they are both by far the slowest to raise rates and when they do, still have one of the lowest rates. They have to get their own ISA.

I guess they aren't interested in $$. The problem with that is, eventually people will conclude BNS may be a better option if they are willing to give these rates, and start looking at their Investment platform to switch to. That is smart marketing in the banking industry, IMO, where it is tough to get major new customers.

The main accomplishment of almost all organized protests is to
annoy people who are not in them.

August 24, 2023
4:09 pm
AltaRed
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I have my doubts anyone with a current DIY discount brokerage account would switch to iTrade just for the F series DYN ISAs. 15bp (DYN6004 over DYN6000) is not nearly enough for a brokerage account holder to switch for that specific reason. It may be worth it to access the Cash ETFs as well which pay even higher, but MMFs (money market mutual funds) are highly competitive right now too and many (most?) can be bought through a variety of discount brokerages.

August 26, 2023
7:19 am
fsabbagh
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deleted

August 26, 2023
7:51 am
Norman1
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HigherRate1 said

RBC DI disappoint me because I think they do not even allow their own clients trade the RBF F series. I assume if one can not even buy them in RBC DI, one can not buy anywhere else. …

RBC Investment Savings Account, Series F (RBF2011) seems to available through Scotia iTRADE. The FundSERV symbol is recognized and one can proceed all the way to the confirmation of the buy order.

Some dealers are not willing to accept orders for free. If the Series F offering is not available at RBC Direct Investing, then that just means RBC Direct Investing is not willing to handle the order without receiving a ¼% per annum trailer. That ¼% per annum trailer would be paid to RBC Direct Investing when one holds the Series A offering.

August 26, 2023
8:29 am
anita555
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what is the rate on this f series RBF2011

August 26, 2023
9:59 am
Norman1
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The Series F Canadian Dollar RBC brokerage ISA's are currently paying 4.8%:

RBC Brokerage ISA Interest Rates
CAD USD
Series A 4.550% 4.900%
Series F 4.800% 5.150%
Corporate Series A 4.550% 4.900%
Corporate Series F 4.650% 5.000%
Notice Period Series A 4.600% 5.000%
Notice Period Series F 4.700% 5.100%
August 26, 2023
10:02 am
anita555
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thanks

August 26, 2023
10:38 am
TINAisOver
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AltaRed said
I have my doubts anyone with a current DIY discount brokerage account would switch to iTrade just for the F series DYN ISAs. 15bp (DYN6004 over DYN6000) is not nearly enough for a brokerage account holder to switch for that specific reason. It may be worth it to access the Cash ETFs as well which pay even higher, but MMFs (money market mutual funds) are highly competitive right now too and many (most?) can be bought through a variety of discount brokerages.  

I agree with " I have my doubts anyone with a current DIY discount brokerage account would switch to iTrade just for the F series DYN ISAs." , AltRed. My scenario is I'm already there. My mission is to replace Itrade because of the new crappy trading platform. What's holding back is the DYN series F's , the self directing GIC section and the crappy app. , Trade pro, still has a few strong points, the Level2 module , which I'm not incurring any fees for its use.
In my opinion, I wouldn't buy the cash / money market ETFs since you have to pay $5 or $10 a trade. Not enough profit margin in it. Unless one intends to hold the ETF for a long periods of time it will accumulate dividends. But in that case I would hold ISA instead or a GIC. This why I have a NBDB account for no fee trades. The down side to NBDB is GIC's. Although you can buy GIC's there , its not online, not even a GIC rate sheet. It's old school. I have call ask for quotes activate over the phone. You can also accomplish this over their internal email system. This is an unnecessary annoyance and inconvenience.

TINA

Trader first, Saver second

August 26, 2023
10:54 am
Norman1
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Scotia iTRADE is also useful for small orders of fixed income securities that mature within a few months.

We found earlier that Scotia iTRADE has been quietly waiving commissions on buy orders for bonds and treasury bills that both are for $25,000 or less face value and are for items that mature in 89 days or less.

August 26, 2023
11:45 am
anita555
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Norman1 said

HigherRate1 said

RBC DI disappoint me because I think they do not even allow their own clients trade the RBF F series. I assume if one can not even buy them in RBC DI, one can not buy anywhere else. …

RBC Investment Savings Account, Series F (RBF2011) seems to available through Scotia iTRADE. The FundSERV symbol is recognized and one can proceed all the way to the confirmation of the buy order.

Some dealers are not willing to accept orders for free. If the Series F offering is not available at RBC Direct Investing, then that just means RBC Direct Investing is not willing to handle the order without receiving a ¼% per annum trailer. That ¼% per annum trailer would be paid to RBC Direct Investing when one holds the Series A offering.  

I tried to find RBF2011 in itrade, but when i entered in RBF, all it suggested was RBF2010 series A

August 26, 2023
11:54 am
Norman1
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Scotia iTRADE's mutual fund search has been broken for a long time.

Just enter the RBF2011 symbol and tab to the next field. The quote box should be updated with the description "RBC Investment Savings Account Series F (RBC)":

RBF2011.png

Are you sure you don't want to order Bank of Nova Scotia Canadian Dollar brokerage ISA, Series F (DYN6004) instead? It is currently paying 5.00%.

August 26, 2023
12:02 pm
anita555
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Thanks Norman1,
I followed what you just mentioned and it worked.
Where can you see what the current rate is for example rbf2011, in itrade.

August 26, 2023
12:08 pm
Norman1
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I've not been able to find the current yield of brokerage ISA's within Scotia iTRADE.

I usually have to visit the site of the issuer of the brokerage ISA. The links for all the sampled ones, but the BMO one, are in the chart.

If one is with Scotia iTRADE, one also has access to the Series F offerings of the Scotiabank Canadian Dollar brokerage ISA's that are currently paying 5.0%.

August 27, 2023
2:23 pm
kesa
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QTrade commentary:

Not only does Qtrade allow for Series F HISA purchase, the fixed income selection is quite extensive as well!

August 28, 2023
4:23 pm
TINAisOver
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Norman1 said
Scotia iTRADE is also useful for small orders of fixed income securities that mature within a few months.

We found earlier that Scotia iTRADE has been quietly waiving commissions on buy orders for bonds and treasury bills that both are for $25,000 or less face value and are for items that mature in 89 days or less.  

Thanks for the tip Norman1 . I will test this quiet policy out. I find their $24.99 minimum, $250 maximum too much and decided to go elsewhere for bonds.

Ironically , I was on the phone with NBDB to clarify bond pricing. As I was going through a test trial bond purchase, I was stunned by the nominal bond purchasing fee it was showing. I asked the NBDB rep is this correct? That's all it's going cost me? He replied yes. followed by "I think its a bug , it should be more". I ended not buying bonds because between HISA ETFs and ISA's they were the same return or better.

Trader first, Saver second

August 28, 2023
8:18 pm
AltaRed
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Bond pricing seems to be pretty opaque. While in some cases, the commission rate might look good, the bid/ask spread may not be. Remember that one is buying or selling into the dealer's inventory (not the open market) and they can price it as they see fit. IOW, do not rely on commission rate alone. I no longer buy bonds.

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