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Zero Commissions for Stocks, ETF's & Options?
November 23, 2019
4:30 pm
AltaRed
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I would expect TD to re-deploy that capital in the US to increase its footprint in some way. Growth opportunities are too few and too small in Canada while the US has lots of room to run. TD has spent a lot of time/energy establishing that footprint and I don't see them wanting to diminish their presence.

Besides, buybacks at current stock price may not be accretive.

November 24, 2019
11:27 am
Dean
Selkirk Mountains, British Columbia
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.
. . . However ⬇

Back in the late 90's when most were paying ~ $30/trade, brokerages in the States started lowering their commissions to ~ $10/trade. And all the Pundits of 'The Great White North' said that could Never Happen here in Canada ... but it Did❗

Maybe we should revisit this thread again in two or three years, and see what's what. sf-cool

Adiós,
Selkirk (a.k.a. Dean)

sf-cool " Live Long And Prosper " sf-cool

November 24, 2019
11:51 am
Doug
British Columbia, Canada
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Yeah, I kind of disagree with @AltaRed here. The standard "safe" answer would be to expect TDCT to deploy $10 billion USD plus in U.S. retail and commercial banking, but their Banknorth, Commerce Bancorp, and South Financial acquisitions, as well as small tuck-in acquisitions, have solidified their presence on the U.S. eastern seaboard from Florida to Maine. Could they still do more tuck-in acquisitions? Sure, but nothing to the size of $10 billion USD. They could expand to the U.S. western seaboard, but the obvious Columbia Bank and Umpqua Bank targets have seen their valuations run up. Likewise, I would've thought KeyCorp would've been a natural acquisition target in 2008-09, when valuations were cheap, and they could've been a U.S. national player.

I think they might be plotting a counter-move to Schwab, possibly by making a superior bid for the rest of TD Ameritrade they don't already own or, alternatively, a bid for Schwab itself. An all-stock merger of equals between TD and Charles Schwab Corp. could be an interesting deal.

Alternatively, they might end up buying E-TRADE Financial Corp. because I can't see them wanting to give up all that AUA in the TD U.S. Wealth segment. 🙁

Cheers,
Doug

November 26, 2019
6:16 pm
Bud
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Zero commission haha they get u on the bid ask

GIC King

November 26, 2019
7:48 pm
Briguy
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Doug said

Exactly, Loonie. It's great, if you're the sort of person that deals with Wealthsimple for one or more wealth-based products (Trade, Invest, and/or Save). However, I'm leaning towards, beginning in 2021, moving to TurboTax Online for free.

I suspect TurboTax has lost many clients to SimpleTax, StudioTax, and the like, so they - and possibly even Ufile which has likely seen even greater customer defections - will just make their software free.

Personally, I wish we had the Norway model whereby the CRA presents us with our tax owing, and we pay whatever is owing (or they refund whatever is owed to us). sf-cool

Cheers,
Doug  

Turbotax online free version won't optimize between family members or search for credits and deductions for you. People who don't want to pay might as well just use Studio Tax or Simple Tax which at least tries to do that for you. In your case since you aren't married, don't own rental real estate and aren't self employed it doesn't really matter what you use since it's so straight forward.

November 29, 2019
11:22 am
maxb
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Wealth Simple is a "very simple" site.. Not anything like the big banks....

By default, all trades go thru as MKT unless you change it. They don't supply the bid/ask !

You have to have Cash on hand to execute a buy.. Can't have margin.

Also, don't see anything yet on where to keep cash between trades (TD offers MoneyMarket).

Only a phone app as of right now..

I use it, but simply to trade some lower volume stocks, etc. I use TDWebroker to get all the information before I execute the trade.

November 29, 2019
7:38 pm
Yatti420
Canada
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I do like studiotax.. Just not for the people who don't like clunky list type applications 😉

Wealthsimple trade is suppose to be a no-fee "zero comission"... They make their money somewhere lol.. sf-cool

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