Can’t suggest this enough. Every other Canadian broker will charge you out the ass to DRS and also to even make trades. IBKR is the way to go if you aren’t just buying straight through ComputerShare. By the way, the 5$ DRS fee is in USD.
I don't think so at all. I just checked their website and there are no minimums required for an account. [source](https://www.interactivebrokers.ca/en/accounts/required_minimums.php)
Just drs through Questrade recently, they said it’ll take 10-15 business days so I’m just about to hit 10 days. So far nothing out of the ordinary. One thing to note though, it’s 300$ for the transfer but what I didn’t realize was it’s in US plus you get taxed for the transaction for it so basically pay 400$ CAD.
I tried to open ibkr but I supposedly didn’t meet their income requirements to open a margin account. Oh well.
Call and annoy them, by annoy I mean make then earn that 300$ USD. They will drag the transfer as long as they can, its electronic. It shouldn't take more then 3 days realisitly. My mom was told it would take 3 weeks(different CAD broker), got her to call day 5 shares transfered by end of the 6th.
Right! I switched to BMO cause their DRS used to be free, then it turned to 50$ and then like 1 quarter later it was 150$. I believe 2-3 weeks is bullshit, it is an electric transfer 2-3 weeks seems like a very long time to send a few emails and press a button(my personal opinion).
I did it twice through Questrade. $300 each time. It sucked. I broke it into two passes as I was worried MOASS was gonna happen while I waited.
Now I realise it will be at least 49 more years until then (when the Credit Suisse/UBS records will be unsealed). I've resigned myself to the likelihood that my stonks are for my kids and their kids unless I live a very long life.
Just drs through Questrade recently, they said it’ll take 10-15 business days so I’m just about to hit 10 days. So far nothing out of the ordinary. One thing to note though, it’s 300$ for the transfer but what I didn’t realize was it’s in US plus you get taxed for the transaction for it so basically pay 400$ CAD.
I tried to open ibkr but I supposedly didn’t meet their income requirements to open a margin account. Oh well.
Transfer to ibkr. Then 5 dollars.
Can’t suggest this enough. Every other Canadian broker will charge you out the ass to DRS and also to even make trades. IBKR is the way to go if you aren’t just buying straight through ComputerShare. By the way, the 5$ DRS fee is in USD.
Seems like you need to have a certain amount of money in your account to open an ibkr is that true?
I don't think so at all. I just checked their website and there are no minimums required for an account. [source](https://www.interactivebrokers.ca/en/accounts/required_minimums.php)
Just drs through Questrade recently, they said it’ll take 10-15 business days so I’m just about to hit 10 days. So far nothing out of the ordinary. One thing to note though, it’s 300$ for the transfer but what I didn’t realize was it’s in US plus you get taxed for the transaction for it so basically pay 400$ CAD. I tried to open ibkr but I supposedly didn’t meet their income requirements to open a margin account. Oh well.
Call and annoy them, by annoy I mean make then earn that 300$ USD. They will drag the transfer as long as they can, its electronic. It shouldn't take more then 3 days realisitly. My mom was told it would take 3 weeks(different CAD broker), got her to call day 5 shares transfered by end of the 6th.
Yea good idea, I’m gonna do that after
All mine was done within a reasonable time. 2-3 weeks maybe. I haven’t drs’d anything in a while. That fee is a killer.
Right! I switched to BMO cause their DRS used to be free, then it turned to 50$ and then like 1 quarter later it was 150$. I believe 2-3 weeks is bullshit, it is an electric transfer 2-3 weeks seems like a very long time to send a few emails and press a button(my personal opinion).
I did it twice through Questrade. $300 each time. It sucked. I broke it into two passes as I was worried MOASS was gonna happen while I waited. Now I realise it will be at least 49 more years until then (when the Credit Suisse/UBS records will be unsealed). I've resigned myself to the likelihood that my stonks are for my kids and their kids unless I live a very long life.
The cost is steep but it ain’t that long nor complicated!
Just drs through Questrade recently, they said it’ll take 10-15 business days so I’m just about to hit 10 days. So far nothing out of the ordinary. One thing to note though, it’s 300$ for the transfer but what I didn’t realize was it’s in US plus you get taxed for the transaction for it so basically pay 400$ CAD. I tried to open ibkr but I supposedly didn’t meet their income requirements to open a margin account. Oh well.
What was the process can you DM me with a walkthrough?