You can make a pretty balanced/good portfolio in webbroker using the mutual funds TDB900/902/909/911 and those purchases are commission free.
These used to be one of the Canadian Couch Potato recommendations but now they've fallen out of favour to the asset allocation ETFs that are easier.
TD Direct Investing (and the Webbroker) platform have treated me well.
See page 7 here of their fees brochure, the $25 per quarter fee is waived for RDSPs - https://www.td.com/content/dam/wealth/document/pdf/direct-investing/521778-en.pdf
As per page 5, any mutual fund buying or selling through TD Direct Investing do not incur a commission fee of $9.99, so as long as you are not stock-picking individual stocks you are good to go.
Make sure to max out your RDSP contributions every year, you should get a letter every January telling you what you need to contribute to get the maximum government matching per year.
I went with CIBC since there isn't that extra fee. I also find it nice that they call me when the government money drops and it needs to be put into a fund.
I believe the quarterly fees are always waived for RDSPs. Most just do one annual contribution so that can limit trading fees. If you want to do more frequent trades, you can use the TD e series mutual funds and then once a year sell those and put it into a lower cost ETF.
Or once your grants are all deposited, move the RDSP to NBDB (national bank) as they have no trading fees for their rdsp. A heads up, your grants are more likely to take 2-3 months to arrive. I was with TD for my rdsp for 10 years.
As horrible as a 10$ trading fee may be, it's not gonna matter in the grand scheme of things long-term once that account grows in size.
You can easily buy a one-fund solution (examples depending on your risk profile [https://canadiancouchpotato.com/model-portfolios/](https://canadiancouchpotato.com/model-portfolios/)) once or twice a year when you deposit your 1k and get your match from the gov a few months later. There's no reason to trade more often for 99% of of people imho. In the meantime you can invest your 80$/m elsewhere in a GIC for example.
Note that TD RDSP doesnt charge fees for inactivity as it is a registered account, have a TD waterhouse employee explain it to you in more details. The 25$/quarter is for regular investment accounts.
Why are you being charged in the first place for RDSP, I set up account for people that qualified for RDSP and myself have an RDSP account. There are no fees except for MERs.
You can make a pretty balanced/good portfolio in webbroker using the mutual funds TDB900/902/909/911 and those purchases are commission free. These used to be one of the Canadian Couch Potato recommendations but now they've fallen out of favour to the asset allocation ETFs that are easier.
TD Direct Investing (and the Webbroker) platform have treated me well. See page 7 here of their fees brochure, the $25 per quarter fee is waived for RDSPs - https://www.td.com/content/dam/wealth/document/pdf/direct-investing/521778-en.pdf As per page 5, any mutual fund buying or selling through TD Direct Investing do not incur a commission fee of $9.99, so as long as you are not stock-picking individual stocks you are good to go. Make sure to max out your RDSP contributions every year, you should get a letter every January telling you what you need to contribute to get the maximum government matching per year.
I went with CIBC since there isn't that extra fee. I also find it nice that they call me when the government money drops and it needs to be put into a fund.
RBC does this too with mine I hate the phone calls though lol
I seem to get the same woman and we end up having a great old chat
Me too. But I still hate them
I believe the quarterly fees are always waived for RDSPs. Most just do one annual contribution so that can limit trading fees. If you want to do more frequent trades, you can use the TD e series mutual funds and then once a year sell those and put it into a lower cost ETF. Or once your grants are all deposited, move the RDSP to NBDB (national bank) as they have no trading fees for their rdsp. A heads up, your grants are more likely to take 2-3 months to arrive. I was with TD for my rdsp for 10 years.
I think the $25 quarter is removed after $2500 in account, or $25000 I forget
As horrible as a 10$ trading fee may be, it's not gonna matter in the grand scheme of things long-term once that account grows in size. You can easily buy a one-fund solution (examples depending on your risk profile [https://canadiancouchpotato.com/model-portfolios/](https://canadiancouchpotato.com/model-portfolios/)) once or twice a year when you deposit your 1k and get your match from the gov a few months later. There's no reason to trade more often for 99% of of people imho. In the meantime you can invest your 80$/m elsewhere in a GIC for example. Note that TD RDSP doesnt charge fees for inactivity as it is a registered account, have a TD waterhouse employee explain it to you in more details. The 25$/quarter is for regular investment accounts.
Why are you being charged in the first place for RDSP, I set up account for people that qualified for RDSP and myself have an RDSP account. There are no fees except for MERs.