Quote:
Originally Posted by I-Hate-Hulse
So I set up one of these at Waterhouse (vs just a TD account) as I figure in a few years time I could use this account for stocks, bonds and what not. The Waterhouse account gives me access to these types of equities, whereas the plain jane TFSA at a Bank is pretty much just high interest savings.
However, FYI to all - Waterhouse has some stiff transaction fees:
Partial Withdrawal - (1st partial in a year is free, this is for subsequent ones): $25
Termination / Transfer Fee: $125
Partial Transfer Fee: $25
Swap Fee: $45
Brutal fees IMHO, I need to do some research here into what precisely is the swap fee.... I'm hoping they get enough flak they changes these fees.
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I feel there should be no fees to set up an account. When you trade stocks, yes, but not for the account itself. Most institutions don't charge for this.