GIC Brokers | Page 2 | GIC discussions | Discussion forum

Please consider registering
guest

sp_LogInOut Log In sp_Registration Register

Register | Lost password?
Advanced Search

— Forum Scope —




— Match —





— Forum Options —





Minimum search word length is 3 characters - maximum search word length is 84 characters

No permission to create posts
sp_Feed Topic RSS sp_TopicIcon
June 24, 2023
10:20 am
gicjunkie
Ontario
Member
Members
Forum Posts: 655
Member Since:
November 7, 2014
sp_UserOfflineSmall Offline

fat_dog said

and a fool and his money are soon parted

right or wrong is determined by the market place and how much money you
make . and they let any one be a member regardless of success or failure of the person
no assets requirement no income requirement . so you could be getting the experiences of unsuccessful people .  

Sounds like, for whatever reasons, you don't like/trust brokers. My advice to you is, don't use them.

For those of us who have successfully used deposit brokers, we will continue to do so until we have reason not to. From my perspective, I have often used a broker, a member of the Registered Deposit Brokers Association, not some guy in a raincoat on the corner, to take advantage of higher GIC rates in Canada. I also am careful to invest within the insurance limits of banks in Canada (CDIC) and varoius credit unions, whose funding is insured in different manners depending on the province in which they operate. This works for me and numerous other contributors to this site.

Just because some brokers' rates are shown on this site, it doesn't mean they are endorsed by this site. This is just part of the information process herein. As we have all seen, for whatever reason, some financial institutions give better rates through brokers than they do directly to investors. (Something to do with costs of acquiring customers?) Again, my investment is with the FI, not the broker.

We are all just passing along our experiences and opinions here. The rates shown in the charts are for informational purposes only. I personally don't suspect a "hidden agenda." I have happily admitted to being wrong in the past (on occasion).

June 25, 2023
6:48 pm
fat_dog
Member
Banned
Forum Posts: 38
Member Since:
June 6, 2023
sp_UserOfflineSmall Offline

if they are endorsed by the site is a legal question and up to a judge . Not all broker in Canada are displayed . The one that are are selected by the site owner . That is an endorsement !
Perhaps endorsing fraud ? With the financial ramification of doing so .

The hidden agenda is how the site is making money who is paying the site and for what ? If you are not paying for some thing on the internet you are the product . I am not paying for the site who is the site selling me too ? How about transparency

as for other experiences . That dose not replace due diligent . And knowing the question to ask .

Like who regulates the G.I.C broker

what those regulation are

how they are enforced

how the G.I.C broker makes money

and how the client will make money

are basic for question . And those answer will determine if the broker is right for . The person asking the question so what if some one on a board had a nice experience . If it is even true

One thing I have noticed here as that people do not use the legal rout to communicate with government tax department . Bank or investment firms . Mostly I see some one complaining when they should be looking for the over site body . Why is that ? I am an investor and use these methods all the time to get the things I want like Iroc bank ombudsmen , and others

June 25, 2023
7:25 pm
Peter
Admin
Forum Posts: 1413
Member Since:
May 15, 2007
sp_UserOfflineSmall Offline

If anybody is interested in the history of how certain GIC brokers ended up listed on the GIC chart (https://www.highinterestsavings.ca/gic-rates/), this thread is a useful one: https://www.highinterestsavings.ca/forum/site-suggestions/deposit-broker-comparison-chart/.

There are ads in the sidebar and header of the site, and the cash back website (https://cashback.highinterestsavings.ca/) is trying to provide deals while also making money, but I must make very clear that nobody can pay to get listed on any of the charts or the promo page on the site. (Some financial institutions have inquired about getting on those pages, but that is a line I will not cross -- there are plenty of other sites out there if you want to see a sponsored list of financial institutions.)

As always, happy to take suggestions on any changes to the GIC chart (or other pages) in that thread or a new one in the Site Suggestions forum (https://www.highinterestsavings.ca/forum/site-suggestions/).

June 26, 2023
10:20 am
fat_dog
Member
Banned
Forum Posts: 38
Member Since:
June 6, 2023
sp_UserOfflineSmall Offline

I see peter . It is a legitimate to asked if people pay to get on the chart when you say FI have offered to do so . And it took a lot just to get you to say that . How dose the site make money for you ? So any biases can be taken into account .

If they do not pay to get on the list and you take suggestion . But you make the final decision . Then they are endorsed by you . And you alone are responsible for the content of the list
that is endorsed

As to G.I.C. Brokers no one on her has asked the few basic question I posed about them
here ?

You see one post were some say hay that was good for me . And dump hundred of thousand of dollars at one ?

Do real investors do that ?

June 26, 2023
11:42 am
Nehpets
Ontario
Member
Members
Forum Posts: 985
Member Since:
December 20, 2016
sp_UserOfflineSmall Offline

This discussion thread has fostered more conspiracy theories than I have ever seen on this Forum.

June 26, 2023
11:42 am
hwyc
GTA
Member
Members
Forum Posts: 1188
Member Since:
September 30, 2017
sp_UserOfflineSmall Offline

I think Peter answered your questions. I spent years following the site's content. I am satisfied and believe in his response. ... I hope you won't start calling me names.

... p.s. I also believe Peter's using real first name, not an alias like us.

... Oh OK, I am almost out of time with this post. But then perhaps he is not required to answer each and every questions. BTW, I find it difficult to follow your text, found words not in context. Do you realize all that?

June 26, 2023
12:01 pm
fat_dog
Member
Banned
Forum Posts: 38
Member Since:
June 6, 2023
sp_UserOfflineSmall Offline

No he has not how dose he make money from this site ?

The question I would ask of the site .. are the same basic question I would ask of a GIC a broker

I any investor would ask and should ask .

Have you ever seen an add on the site for company that are not on the chart ?
Theses are question all investor ask . Have been investing all my life and have these question all my life as other investors do .

June 26, 2023
12:58 pm
Wrayzor
GTA
Member
Members
Forum Posts: 78
Member Since:
March 14, 2023
sp_UserOfflineSmall Offline

The answer to making money is in Peter's post - advertising. The ad I'm seeing right now is for SafeDeposit - not on any list or chart. So there's your answer to "Have you ever seen an add (sic) on the site for company that are (sic) not on the chart ?".

Do you ask the same questions of every website you visit? It must get tedious if you do. Although it must be blast on Reddit when you ask to see the books.

Some of your due diligence questions have validity but IMO they're misdirected here. You are mis-reading the room if you think people who provide positive contributions to the forum don't do their own due diligence. Coming here for other people's experiences is part of due diligence. Yes, it's often opinion. And people can weigh the validity without questioning every piece of input.

Your thinly veiled accusation of fraud seems to violate rule 1a - "No childish name calling, or disrespect against anyone, including the moderators & admins." I can't think of what could be more disrespectful directed at someone providing a valuable resource that the vast majority of us appreciate.

June 26, 2023
3:58 pm
Loonie
Member
Members
Forum Posts: 9290
Member Since:
October 21, 2013
sp_UserOfflineSmall Offline

Most people come to this site to learn and contribute.

Occasionally someone new comes along and has the primary goal of disruption and promoting conspiracy theories.

Peter owns this site and is solely responsible for it, using his own best judgment. He seems to have a generous spirit but he doesn't need to put up with anyone whose goals are contrary to those of the forum.

June 27, 2023
10:00 am
fat_dog
Member
Banned
Forum Posts: 38
Member Since:
June 6, 2023
sp_UserOfflineSmall Offline

Call in to question were I got the link to the place from . how are they making their money what are their objectives ? that is why I ask about this place . how much of it is truth ? ( real )

Their is no up side to me in this . but it is hard to watch the site going on time after time speaking miss truth . I was a new investor once 30 years or so a go .
and this is a trap I could have fallen into .

and still no transparency into the site how it makes it money , and what influxes that has over the content of the site

June 27, 2023
4:36 pm
Peter
Admin
Forum Posts: 1413
Member Since:
May 15, 2007
sp_UserOfflineSmall Offline

One of the main goals of this site (and the original goal in fact!) is to provide a forum so that people can share their experiences with each other. This thread is a great example per LK's original post.

My previous post explained how this site attempts to make money, and how that does not influence the content of the listings, including the listing of GIC brokers on https://www.highinterestsavings.ca/gic-rates/. What I don't understand is what exactly was not answered in fat_dog's questions about this website. If there are any new questions about this website, please create a new thread so as not to distract from the purpose of this one.

June 27, 2023
5:05 pm
savemoresaveoften
Member
Members
Forum Posts: 2925
Member Since:
March 30, 2017
sp_UserOfflineSmall Offline

@fat_dog

If it is me running this site, I will simply say this to you ‘you are using this site for free, feel free not to use it, how the site makes money or not or how is none of your business’. Your questions and suspicions are way beyond a ‘I am here to learn’ and offensive.

June 27, 2023
11:37 pm
Loonie
Member
Members
Forum Posts: 9290
Member Since:
October 21, 2013
sp_UserOfflineSmall Offline

It's now been a week since LK's initial inquiry, so there has been time for responses. Also, there are other related threads with lots of info.

The thread has been derailed by repeated efforts at promoting conspiracy theories and refusals to listen.

I think it's time to close the thread, at the very least.

No permission to create posts

Please write your comments in the forum.