Thank you Peter! That really means a lot to me! I put a lot of effort into explaining these seemingly intimidating topics in an accessible way and I'm happy to hear that it's working! =)
Just finished binging all your videos up till now. You have been an enormous help since I'm beginning my investment journey. All your videos have been so informative, easy to understand and follow. Thank you!
Wow! Thank you so much Andy! I really appreciate that, you just made my day! I'm happy to hear that my videos have been helpful and are binge-worthy! Happy holidays! 😁
I opened my Questrade account today!!! Yay!!! Hopefully you got referral bonus from Questrade! I'll be transferring all my RBC TFSA to Questrade as soon as the Questrade gets my minimum fund!! Can't wait to start trading!! Thank you Adrian!!
Thanks buddy! Absolutely! This is by far the most rewarding and fulfilling job I've ever done. Answering questions and responding to you guys is my favourite thing about this whole TH-cam gig =)
This is a big time help, just filed for the 150$ rebate charge from TD. Fellow investors , make sure you get the referral bonus when using Canadian in a T-Shirt referral link when you sign up on Questrade, for some reason mine didn't work when I signed up through the link.
I'm happy to hear that the steps in this video were helpful! There was a glitch with referrals this past weekend, they've fixed it and now I have a new referral code: CANADIANTSHIRT so if you use my referral link, you should see it popup when you open a new account =)
Just want to take a moment to let you know you have great content, and I purposely searched for this video so I can use your referral code. Please keep up the great work.
Hi David, I read your comment and wonder if you already done of transferring shares as kind ? Today, after watching this video I did transfer all my shares in kind and I want to get them in Questrade platporm with US as they were in wealthsimple, but still have the chance to cancel. Please, let me know if you were happy with this transaction or you recommend me to cancel it . I appreciate your answer.
Where have you been all this time bruthaaa, lol. I’ve come across your channel by chance, and VERY glad I did. Wow. Such smooth explanations, textbook style, love it! Look forward to seeing your subscriber rate flourish over the coming weeks plus! Would be lovely to see some videos on your stock recommendations!? Stay Blessed!
Wow! Thanks buddy! I really appreciate that and I'm happy you found me! 🙏 I'm way ahead of you man! I've got a WHOLE playlist of my favourite Canadian and US Stocks and ETFs which I recommend and I personally invest in. Check it out! =) th-cam.com/play/PLj8bU3AuW2qFD4sCsCxXdaAADlyiP8bqB.html
That's what I love to hear!!! Way to go buddy! I'm really happy to hear that you're getting into investing and taking charge of your financial future at such a young age! I WISH I started when I was 18! 🔥
The wrong way, been there done that, had to waste my time waiting for my contribution room to come back the year after!!! :( You are a great teacher, I'm sure new investors will thank you, a lot
I'm glad you're excited man but please don't go crazy with penny stocks.... if you want to gamble around with a bit of money that you are prepared to lose, then go for it! But please don't risk serious money with penny stocks.... You are more likely to lose money than win big, the majority of your portfolio should be in secured and established companies =)
Thank you very much..... Everything i was ever told about stocks and trading was wrong..... I can't even imagine over that last 20yrs how much my bank has charged me for my investments.... i feel used....
I know the feeling all too well and it is incredibly frustrating!!! The "old wisdom" for the past 50 years was that investing is too complicated, you should just blindly trust the banks with your money through mutual funds where they are essentially stealing from you with huge management fees! Thankfully, there are more options now to easily invest on your own to avoid this unnecessary fees! =)
A Canadian in a t-shirt! Watched and liked, thanks Adrian! Thanks so much for getting me started on this dividend stock road!! My dividend stocks are AQN, BMO, BNS, CPX, ENB, FTS, KL, MIC, NPI, POW, PPL, RY, T, TD, XEI, AP.UN, GRT.UN, REI.UN, SRU.UN, ABBV, ET, PFE, QYLD, SPYD, BEP, BIP. Also sold most of my growth stocks to buy a large position in MMEDF when it jumped to $0.70 USD/share, but I still have VERY & NIO. Please keep doing videos on high quality dividend stocks as I'm eventually going to scale down part of my MMEDF position after they get listed to the Nasdaq. Great new camera quality! Cheers!
Great video once again Adrian! I know that account transfers do not affect contribution room, but I wanted to ask a specific question to clarify this small detail. When the the transfer fee gets charged, and then rebated some time later, does that affect the contribution room? Thanks
Another question. I know you do not recommend purchasing US stocks from my TFSA on questrade. If I had found your videos sooner I wouldn’t have done that haha. But since I have, will the 15% tax come off directly when I sell my stock? Thanks! New favourite channel.
You got it! The 15% US Withholding tax ONLY applies to US Dividends! And that tax is applied immediately so you don't have to file a tax return to the IRS or anything. It's just that you'll only receive 85% of the dividend you were supposed to receive
so wheres questrades interest in all of this, paying upto 150$ for every transfer could grow to quite a bit of cash they put out for each customer, how do they gain this back?
You're right it can cost them up to $150 upfront but they're counting on the fact that they will keep a customer for life! Even with low commission fees of $5 a trade... over the years they will definitely make much more than $150 from each customer, depending on how much they trade =)
Question: If I wanted to transfer my entire savings TFSA account over; I request the entire exact amount, lets say example $1234.21. Where is the bank going to deduct the fees? Does that mean less will be transferred to Questrade in the end, or they will deduct it in my other accounts in the bank?
If you're doing a cash transfer, the bank will just take away whatever their transfer fee. Again this depends on your bank / broker. Then you upload your statement showing how much they charged you and Questrade will reimburse you that amount =)
Liked. Commented. Subscribed. Opened Questrade account. Thanks for the offer code! I have been wanting to do this for some time, but had many questions. Your videos are fantastic. Keep 'em coming! Cheers.
I'm happy to hear it! It took me a long time to figure out the proper settings with this camera (I'm such a newb when it comes to filming and lighting etc) but I think it looks much sharper! The video file was massive though 😅
Another informative segment -Thank you Adrian....It's spooky you just released this.... I'm in the process of doing this exact thing moving investments from a traditional banking institution to my recently acquired Questrade account....Thanks again your timing couldn't have been better.
Hey Adrian, I did an "In-kind transfer" from Sunlife and when I went to my account it was all in cash and not invested into the funds I had before. Does this mean they couldn't get the same funds as before and I now just default as a withdraw? Let me know, thanks!
Most likely that was the case. I'm guessing you were holding mutual funds at Sunlife? If so, then those mutual funds cannot be held within Questrade and thus they cashed out and did a cash transfer. But this is NOT a withdrawal! This is just a cash transfer so now you have a big pile of cash to buy stocks and ETFs with =)
Absolutely! I have a whole video on the benefit of DRIPs and how to setup a DRIP with Questrade: th-cam.com/video/ouyXwaTOfhU/w-d-xo.html The great thing is that with Questrade you can set up a DRIP for EVERY stock and ETF, even if the stock itself suspended their DRIP program! =)
You got it Wes! Your TFSA and RRSP are being WASTED with a pitiful 1% savings account... I cover this in much greater detail in my TFSA mistakes video here =) th-cam.com/video/s4cBibLATOU/w-d-xo.html
Thank you Gazelle! The 4K camera really makes a huge difference! I'm considering re-filming some of my older videos (including my Canadian Tax videos) I think it will help those videos last the test of time, plus I can offer a few updates bits of info =)
A series of your videos led me here and all of them have been so helpful! My husband currently has TFSA room in Questrade, as well as stocks with a separate bank, which are not in the TFSA, so we are working out how to transfer them to his TFSA without selling and re-buying based on your information and advice. Thanks, Adrian! Have a Happy New Year!
Yes, almost three years now! My best investment! I have learned so much from your videos. I like rewatching them, too, like the Norbert's Gambit one. I can never remember how to do it when I go to invest so I always need a refresher haha @@CanadianTShirt
Great video! I didn't realize it was so simple to transfer from TD to Questrade. Ive been putting it off and will try it now. Thanks Adrian (your video on RESP explained was awesome too)
I'm happy to help! Make sure you follow the steps in this video and it won't cost you anything! I transferred cash and stocks from TD Direct Investing years ago so I can tell you first hand that it works very smoothly! And thank you for becoming a member! =)
Great post! ...wow, Questrade is really building incentive for people to switch over. Wish it existed when I first started mucking around with stocks. Thanks Adrian!
You got it buddy! And the great thing is that every year, Questrade makes it even better! About a year ago, they would only reimburse transfer fees if you moved at least $15K but now they removed that minimum balance. Sure it might cost them some money in the short term but it will definitely encourage more everyday Canadians to join =)
Very thorough. You are amazing, Adrian! I will dig more if I can transfer my kids RESP Mutual funds from TD as In-kind. If not, I guess the only option is to liquidate and do cash transfer to Questrade RESP
You got it buddy! Usually bank mutual funds like TD can't be held outside of the bank so it's unlikely that TD funds can be held within Questrade. If that's the case then an in-kind transfer won't work and it will just be a cash transfer instead, that's what I did =)
Wow, i thought I did not need to watch this since I have transferred a few investments from a few institutions, WRONG.... it's a refresher and for my next transfer, from Tangerine to my Questrade account, they might charge a fee and if so, I'll know how to get that back.... THANKS AGAIN, Canadian in a tee....and Happy Holidays, from another Canadian but, in a sweater...it's the Winter of our discontent....NO TRAVEL this December so, no Hot beautiful Naples, Flordia weather to bask in.
I'm happy to hear that you found my video informative, even though you've already been through this process before! I hope you make the most of your winter in a sweater! =)
New subscriber here. Glad I found your channel. Every point you make is crisp and to the point. The text on the left side of the videos is really helpful too.
@@CanadianTShirt Quick question regarding Taxable accounts with in-kind transfers. Will Questrade keep the same cost base when moving the stock over? Lets say a stock originally had a cost base of $1,000 but current market value is $800. Will QT show the original cost and current market value, or show a new cost base of $800 (the market value when moved). Thanks again.
Man, where have you been? I thought you were doing youtube full time ...I hope all is well. Good to see you back! Start pumping content, maybe also get into light stock analysis, maybe niche into a sector (as a series) until you feel you have a strong handle on the sector as whole. Maybe try to invite guests, and have a discussion, that would be amazing (CEOs, or Stock Analysts, etc). These are just ideas for the channel, take easy Adrian! I'm a very early subscriber and watched all your content!
I'm a pretty big holder with Qtrade currently. As per recent. The reviews from google reviews on Qtrade made me question Qtrade as a non trustworthy broker. Now I'm planning on allocating all of my securities to Quest Trade.
I've heard mixed things about Qtrade, they're definitely cheaper than the bigger banks but still more expensive than Questrade and they offer a worse service....
@@tm4s426 you mean will your bank account be linked to Questrade? I think that would depend on your financial institution but if it isn't automatically linked, you would just request a new link whenever you need to withdraw money etc
@@tm4s426 yes Qtrade will charge you a transfer fee for EACH account (the TFSA and RRSP) but the good news is that Questrade will also reimburse you the transfer fee for both accounts up to $150 each ($300 total)
I have a WHOLE video on RRSP withdrawals so check it out! th-cam.com/video/gcYlQl6hF6w/w-d-xo.html You will be taxed on any withdrawals you make from your RRSP so you should only be withdrawing from your RRSP when you're retired and in a lower tax bracket! =)
Thanks Adam! I really appreciate that! Ya this thing is a beast and it took me soooo long to get the settings right but I think I have it figured out. Plus the video file now is massive 😅
I'm glad this video was helpful! In the case of Tangerine, in-kind transfers wouldn't be possible anyway (at least it wasn't for me when I transferred my Tangerine Mutual Funds) so cash transfer would be the way to go =)
Saw your videos just the perfect time for me since i am planning to make my finances more organize this year...very helpful content. I will follow your advice. This made me subscribed to your channel.👍
Thanks for this Adrian. I didn’t need to do this specific maneuver, but suspected I’d likely find a great nugget or two and sure enough you delivered; transfers between TFSA and RRSP within Questrade. Can’t wait for this one! Have a rough estimate of when to expect it? Thanks for all you do for us newbies.
I'm happy to hear that Roberto! I probably won't be able to get to that video until the end of January since I have a bunch of other topics lined up but while you're waiting here is the super short version: Go to Requests -> Transfer Investments or Transfer Funds and you can move cash or stocks between your accounts. Note that these will count as contributions and withdrawals so make sure you have the room! =)
Hi :) glad that I found you! Now I’m watching your videos like Netflix & chill 😂 I have a question though, when registering for the first time (oh yess I’ll use your reference) and want to transfer in-kind stocks from another institution, does the minimum amount of a $1,000 is still a requirement when opening or if my transfer request will be sufficient? Of course it will be more than $1,000. Hope my question makes sense. Thanks
I'm glad you found my channel and I hope you find my videos binge-worth! 😁 If you want your account to be activated automatically, you'll need a $1000 cash deposit. But you can contact Questrade support through their chat and they can manually activate your new account for you! Especially since you will be transferring more than $1000 worth of stocks, they will definitely activate it no problem =)
Great video Adrian! Your tips and advices are so helpful for us who are new to investments. Just a quick question though, is it possible to transfer GIC redeemable account from a bank to Questrade? I've been thinking of opening an account in Questrade. Thanks!
I've never tried it but I think it would be possible! You CAN buy and hold GICs within Questrade so I believe that a GIC transfer would work. Unless of course, it can only be held within the bank itself...
Hi Adrian, I've learned so much from your content. Thank you! I have a (probably dumb) question about Questrade RRSP. Is the "individual RSP" the same thing as an RRSP?? Trying not to make a mistake transferring my RRSP "in kind" from big bank to questrade...
Don't worry Christina this is a common questions but they are the SAME THING! It's just a name change! In early 2020, a lot of the big banks renamed the RRSP to the RSP account to make it easier but it's still the exact same thing. I talk about this in my RRSP Explained videos =) th-cam.com/video/gcYlQl6hF6w/w-d-xo.html
Hi Adrian...thank you so much for such wonderful investment tips! As you mentioned in this video at 11:28...I want to transfer some funds from my TFSA in Questrade to RRSP in Questrade, how will that impact my TFSA room and what are the implications. You mentioned you will make a separate video to explain a transfer within registered accounts in Questrade, so if you can share the link of that video as I was unable to find it. Thanx...Looking forward to your reply?
You can definitely transfer stocks and funds between your TFSA and RRSP. Click on the top right tab: Requests and select Transfer Investments. Note that this will count as a TFSA withdrawal and an RRSP contribution so make sure you have available room =)
@@CanadianTShirt I do have room in RRSP although I was confused if the TFSA withdrawal will become available following year with the additional $6,000 under TFSA? Thnx in Advance!
great video. 2 questions here. 1. if i have invested multral funds in my TD tfsa and rrsp accounts, how can i move those cash to questrade? especially without hurting the tfsa contribute room for 2021? 2. if i trade frequently how does questrade track my realized income? will CRA charge me on every time i have realized income by selling stocks?
Since you hold Mutual funds, you will likely have to sell those as cash and perform a cash transfer to Questrade. Unless you are selling those mutual funds at a loss, you won't be losing any contribution room since you are doing a transfer not a withdrawal!
In a TFSA or RRSP, there are no capital gains taxes but remember you CANNOT day trade in those tax-sheltered accounts. They are designed for long term, buy and hold investing =)
It is a good video. I went from CIBC to Qestrade and then to Wealth simple though. You are right that the banks are ripping us off. The only thing which is better for me in Qestrade than in Wealth simple is the ability to buy Bonds.
You got that right! WealthSimple Trade is a great option for Canadian investments but make sure you do NOT buy US stocks or ETFs with WealthSimple. Those currency conversion fees will cost you hundreds or thousands of dollars, far more than the $5 commission you'll pay with Questrade! =)
Hey hey*, has anyone here attempted to transfer an entire RRSP from Manulife to QT? Manulife diversifies where your money is invested so I'm wondering how clean that process is. Wanted to see if anyone here has done this before I attempt. Oh - and thanks for the video, Adrian!! 🙌
My pleasure Katie and yes it definitely can be done! My brother was able to transfer his Manulife RRSP employer account to Questrade using the steps in this video! In his case, he requested a cash transfer since those Manulife mutual funds could not be held outside of Manulife. Once that cash arrived in his Questrade RRSP account, he just bought whatever stocks and ETFs he wanted. I hope that helps! =)
That's an interesting question! I would ask that to the support team but when you are transferring shares to Questrade, you specify a whole number of shares to transfer since they don't handle fractional shares. The remaining fractions would remain in WS, you could either keep those or sell them as cash and then do a cash transfer =)
Sure! That's a great idea! I am a long term investor so I do not sell stocks very often, I'd rather hold them for 5+ years. But the bottom line is that if you no longer believe in the future of a company, or if you truly believe that this money could grow even greater in another investment, then that's when you should sell. But don't focus too much on the short term performance, play the long game! =)
You would ignore the short term gains and just put money into stocks and etfs and forget about how the market fluctuates? I mean I could but that would kinda feel blindly investing when there are some opportunity of positives or negatives. However much less stressful
You got it! I will be making more videos for WealthSimple but when it comes to transfers and different account types, they are far more limited than Questrade. You get what you pay for lol
Adrian you are a legend. Thank you so much for this video it seemed to come at a perfect time. I've watched the majority of your videos, learnt so much. Given me so much confidence to start investing in my future. The question I had and posted on a seperste video was about how to fund my TFSA, if my TFSA in RBC direct investing is currently maxed out. And you definitely answered it! My one question now, is since I am maxed out. And I haven't gone through the process of funding the TFSA through Q, how would I be able to fund it? I went through this process but since the account hasn't been approved yet, I can't make this transfer from RBC to Questrade. Since its December. Would it be best just to withdraw 2000 CAD or so, wait till January, and then fund the account. And then once it's been funded and approved, I can go through with the transfer from RBC after Janurary? Thank you so much Adrian, you're helping so many people I'm ever so grateful!
Thank you Wyatt! I really appreciate that man! 🙏 I would contact Questrade and tell them that you intent to transfer from RBC to Questrade, I'm sure that they will be able to manually approve your account without the initial $1000 transfer, especially if you are transferring more than $1000 over from RBC =)
Well with Manulife you can only hold mutual funds and most mutual funds will not be able to transfer to Questrade. Again this depends on the financial institution itself but when it comes to mutual funds, most likely you will have to cash out and request a cash transfer =)
Check out How to OPEN a QUESTRADE Account | Step by Step Walkthrough 👇
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And be sure to check out my QUESTRADE GUIDE 👇
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As well as my CANADIAN TAX GUIDE 👇
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And learn EVERYTHING about investing with my MILLENNIAL INVESTING GUIDE 👇
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Hey Adrian, what if your RRSP has GIC's at the other institution? Can we transfer now or need to wait until the maturity date?
Thanks for help
Nobody explain things better than you in YT. Thanks!
Thank you Peter! That really means a lot to me! I put a lot of effort into explaining these seemingly intimidating topics in an accessible way and I'm happy to hear that it's working! =)
Just finished binging all your videos up till now. You have been an enormous help since I'm beginning my investment journey. All your videos have been so informative, easy to understand and follow. Thank you!
Wow! Thank you so much Andy! I really appreciate that, you just made my day! I'm happy to hear that my videos have been helpful and are binge-worthy! Happy holidays! 😁
I opened my Questrade account today!!! Yay!!! Hopefully you got referral bonus from Questrade! I'll be transferring all my RBC TFSA to Questrade as soon as the Questrade gets my minimum fund!! Can't wait to start trading!! Thank you Adrian!!
Woohoo! Way to go Big Tuna! That's what I LOVE to hear! 😁
Man thank you so much! Such a huge help! My wife and I have been putting lessons learned from your videos into action.
That's what I love to hear!!! I'm so happy that my videos have been helpful to both of you and I hope you guys enjoy watching my videos together! =)
Bro. Thank you is all i can say, must feel nice affecting so many people financially in a positive way
Thanks buddy! Absolutely! This is by far the most rewarding and fulfilling job I've ever done. Answering questions and responding to you guys is my favourite thing about this whole TH-cam gig =)
You sure do know the ins and outs of Questrade! Great work!
I'm a huge fan of their platform and I know it can be confusing for beginners so I do my best to make it less intimidating! =)
Hahaha, I literally just plagiarized your message to Customer Chat to ask for journaling. This vid couldn't come at a better time! Thank you.
haha I don't think I've ever been plagiarized before.... I'm honoured! 😆
I'm glad this video was helpful and I hope it saved you some money! =)
This is a big time help, just filed for the 150$ rebate charge from TD.
Fellow investors , make sure you get the referral bonus when using Canadian in a T-Shirt referral link when you sign up on Questrade, for some reason mine didn't work when I signed up through the link.
I'm happy to hear that the steps in this video were helpful! There was a glitch with referrals this past weekend, they've fixed it and now I have a new referral code: CANADIANTSHIRT so if you use my referral link, you should see it popup when you open a new account =)
I was looking for transfer to questrade and here comes your video. Thank you. 1st to view n comment. :)
Perfect timing! I hope you find it helpful! =)
You sir, are the goat. I wanted to make this transfer and was almost going to sell in order to transfer. Saved me a good chunk of change!!
Woohoo! Way to go Vince! That's what I LOVE to hear! I'm glad you found me at the right time! 😁
Your videos are amazing. I keep playing them when I need to refresh my memory on how to do something. Thank you so.much!
Thank you Gino! I really appreciate those kind words and I'm so happy that you keep coming back to them for a refresher! 🙏
Just want to take a moment to let you know you have great content, and I purposely searched for this video so I can use your referral code. Please keep up the great work.
Wow! Thank you so much for that kind comment, it really does mean a lot to me! 🙏
And thank you for using my referral code! I hope you enjoy investing with Questrade, best of luck! 😁
Clearly explained and perfect timing as I am planning to transfer some shares between brokers. Now I can do it with more confidence. Thanks Adrian!
Thanks David and that's what I love to hear! 😁
Hi David, I read your comment and wonder if you already done of transferring shares as kind ? Today, after watching this video I did transfer all my shares in kind and I want to get them in Questrade platporm with US as they were in wealthsimple, but still have the chance to cancel. Please, let me know if you were happy with this transaction or you recommend me to cancel it . I appreciate your answer.
Thanks a lot! Your contents really helped the Canadians. Glad I saw this video before transferring from TD to Questrade.
Thanks Jackeline! I'm happy to help! =)
Where have you been all this time bruthaaa, lol. I’ve come across your channel by chance, and VERY glad I did. Wow. Such smooth explanations, textbook style, love it!
Look forward to seeing your subscriber rate flourish over the coming weeks plus! Would be lovely to see some videos on your stock recommendations!?
Stay Blessed!
Wow! Thanks buddy! I really appreciate that and I'm happy you found me! 🙏
I'm way ahead of you man! I've got a WHOLE playlist of my favourite Canadian and US Stocks and ETFs which I recommend and I personally invest in. Check it out! =)
th-cam.com/play/PLj8bU3AuW2qFD4sCsCxXdaAADlyiP8bqB.html
How come this dude has only 62k followers....let show some support guys...
haha thanks Sukhi! I appreciate the support man and thank you for spreading the word! 🙏
Just turned 18 and opened an account! Love your channel!
That's what I love to hear!!! Way to go buddy! I'm really happy to hear that you're getting into investing and taking charge of your financial future at such a young age! I WISH I started when I was 18! 🔥
The wrong way, been there done that, had to waste my time waiting for my contribution room to come back the year after!!! :( You are a great teacher, I'm sure new investors will thank you, a lot
Oh man.... I'm sorry you had to go through that but now you know! And thank you for those kind words as well, I'm glad my videos are helpful! =)
Just opened an account with your referral. Now just waiting for my funds to clear so I can start making bazillions of dollars from penny stocks!
I'm glad you're excited man but please don't go crazy with penny stocks.... if you want to gamble around with a bit of money that you are prepared to lose, then go for it! But please don't risk serious money with penny stocks.... You are more likely to lose money than win big, the majority of your portfolio should be in secured and established companies =)
@@CanadianTShirt So no overnight millionaire biopic for me? Apple and Amazon it is, then!
Thanks bro. this is what i've been waiting for:-)
Thanks Michael! I hope it was worth the wait! 😁
You should just go to Questrade Website. You will spent less time for it.
Thank you very much..... Everything i was ever told about stocks and trading was wrong..... I can't even imagine over that last 20yrs how much my bank has charged me for my investments.... i feel used....
I know the feeling all too well and it is incredibly frustrating!!! The "old wisdom" for the past 50 years was that investing is too complicated, you should just blindly trust the banks with your money through mutual funds where they are essentially stealing from you with huge management fees! Thankfully, there are more options now to easily invest on your own to avoid this unnecessary fees! =)
There's an old joke in the finance world: "My mutual funds put two kids through university. Not my kids! But my fund manager's kids!"
Welcome back!!
Thanks Mav! I hope the video was worth the wait! 😁
@@CanadianTShirt definitely 👍
A Canadian in a t-shirt! Watched and liked, thanks Adrian! Thanks so much for getting me started on this dividend stock road!! My dividend stocks are AQN, BMO, BNS, CPX, ENB, FTS, KL, MIC, NPI, POW, PPL, RY, T, TD, XEI, AP.UN, GRT.UN, REI.UN, SRU.UN, ABBV, ET, PFE, QYLD, SPYD, BEP, BIP. Also sold most of my growth stocks to buy a large position in MMEDF when it jumped to $0.70 USD/share, but I still have VERY & NIO. Please keep doing videos on high quality dividend stocks as I'm eventually going to scale down part of my MMEDF position after they get listed to the Nasdaq. Great new camera quality! Cheers!
Thank you Jason! I really appreciate your support as always man and I'm loving your portfolio so far! Way to go buddy! =)
Great video once again Adrian!
I know that account transfers do not affect contribution room, but I wanted to ask a specific question to clarify this small detail. When the the transfer fee gets charged, and then rebated some time later, does that affect the contribution room? Thanks
Nope! This should not affect your contribution room since you are not making the contribution! Questrade is giving you this money as a bonus =)
So useful videos , im now moving in kind transfer from my bank to questrade . Thank you and God bless .
Thanks Sheila! I'm so glad to hear that this video was helpful! It will take about 2-3 weeks for the transfer but it will be worth it! =)
Another question. I know you do not recommend purchasing US stocks from my TFSA on questrade. If I had found your videos sooner I wouldn’t have done that haha. But since I have, will the 15% tax come off directly when I sell my stock? Thanks! New favourite channel.
Or is the 15% from the IRS only off dividends?
You got it! The 15% US Withholding tax ONLY applies to US Dividends! And that tax is applied immediately so you don't have to file a tax return to the IRS or anything. It's just that you'll only receive 85% of the dividend you were supposed to receive
Found your vid by accident. Very useful. Thank you.
Accident or not, I'm glad you found me and that you found it helpful! Welcome to the channel! 😁
Man that 4K camera though!!
It looks so sharp! The video file was massive though! It took me hours to export and upload 😅
Thanks buddy. Now I can move all my stocks and cash to Questrade.
Way to go bud! I'm glad you found this tutorial helpful! =)
so wheres questrades interest in all of this, paying upto 150$ for every transfer could grow to quite a bit of cash they put out for each customer, how do they gain this back?
You're right it can cost them up to $150 upfront but they're counting on the fact that they will keep a customer for life! Even with low commission fees of $5 a trade... over the years they will definitely make much more than $150 from each customer, depending on how much they trade =)
You're doing the work man. Thank you so much for helping beginners like me. Truly appreciative
I'm happy to hear that my videos have been helpful and I hope you are enjoying Questrade! =)
Question: If I wanted to transfer my entire savings TFSA account over; I request the entire exact amount, lets say example $1234.21. Where is the bank going to deduct the fees? Does that mean less will be transferred to Questrade in the end, or they will deduct it in my other accounts in the bank?
If you're doing a cash transfer, the bank will just take away whatever their transfer fee. Again this depends on your bank / broker. Then you upload your statement showing how much they charged you and Questrade will reimburse you that amount =)
@@CanadianTShirt Will the amount reimbursed in my TFSA account affect my contribution room?
Liked. Commented. Subscribed. Opened Questrade account. Thanks for the offer code!
I have been wanting to do this for some time, but had many questions. Your videos are fantastic. Keep 'em coming!
Cheers.
Thank you Andrew! I really appreciate that and I'm glad I was able to help you get started! 😁
I notice the new camera quality
I'm happy to hear it! It took me a long time to figure out the proper settings with this camera (I'm such a newb when it comes to filming and lighting etc) but I think it looks much sharper! The video file was massive though 😅
Another informative segment -Thank you Adrian....It's spooky you just released this.... I'm in the process of doing this exact thing moving investments from a traditional banking institution to my recently acquired Questrade account....Thanks again your timing couldn't have been better.
Wow!!! It was clearly meant to be! I'm happy to hear that it was helpful and I hope you enjoy your Questrade account! =)
@@CanadianTShirt I hope you got your "small referral bonus".... I used your code when I signed up....Thanks again.
Hey Adrian, I did an "In-kind transfer" from Sunlife and when I went to my account it was all in cash and not invested into the funds I had before. Does this mean they couldn't get the same funds as before and I now just default as a withdraw?
Let me know, thanks!
Most likely that was the case. I'm guessing you were holding mutual funds at Sunlife? If so, then those mutual funds cannot be held within Questrade and thus they cashed out and did a cash transfer. But this is NOT a withdrawal! This is just a cash transfer so now you have a big pile of cash to buy stocks and ETFs with =)
hi adrian, does this affect my contribution room if it got converted to cash? planning to move my tfsa from TD.
@@vibrantsiblings5678 nope! Because it's a transfer not a contribution! It's money that's moving from one TFSA account into another =)
@@CanadianTShirt thank you!
Thank you for your videos, I learned a lot on how to use Questrade. You're better than their Customer Service. :)
Thanks Bebs! One of the best compliments I ever got on my channel was from a Questrade Customer service agent who said I was spot on 😁
Does Questrade offer a DRIP program?
Absolutely! I have a whole video on the benefit of DRIPs and how to setup a DRIP with Questrade:
th-cam.com/video/ouyXwaTOfhU/w-d-xo.html
The great thing is that with Questrade you can set up a DRIP for EVERY stock and ETF, even if the stock itself suspended their DRIP program! =)
This is simply fantastic, no more 1% interest saving account haha
You got it Wes! Your TFSA and RRSP are being WASTED with a pitiful 1% savings account... I cover this in much greater detail in my TFSA mistakes video here =)
th-cam.com/video/s4cBibLATOU/w-d-xo.html
@@CanadianTShirt too funny I literally had that video loaded and ready to watch next. Then the rspp vid is coming after that, is my plan, you da man
@@weslaycock466 I love it! Great minds think alike 😉
👍👍👍
Thanks buddy! I hope you find it helpful! =)
I'm watched all your video.. you are doing great job.
The video quality is soooo good in this video compared to your Canadian tax guide series!! Love it. Thank you again Adrian extremely helpful.
Thank you Gazelle! The 4K camera really makes a huge difference! I'm considering re-filming some of my older videos (including my Canadian Tax videos) I think it will help those videos last the test of time, plus I can offer a few updates bits of info =)
You are so patient explaining thingsssss
I'm happy to hear that! I try my best to make my videos as accessible to beginners! =)
Great video! Im literally using your videos to learn everything i can about banks, stocks, credit, etc...hope you keep the material coming!
Thanks Kaylani, as always! You got it! I hope you continue to find my content helpful! =)
A series of your videos led me here and all of them have been so helpful! My husband currently has TFSA room in Questrade, as well as stocks with a separate bank, which are not in the TFSA, so we are working out how to transfer them to his TFSA without selling and re-buying based on your information and advice. Thanks, Adrian! Have a Happy New Year!
I'm so happy my videos led you to here and I'm glad that you found this video so helpful! Best of luck you two and happy new year! 😁
Also thank you so much for supporting my channel as a member! It's been almost 3 years! That's amazing! 🙏
And check out the latest Members-Only video I just released yesterday =)
Yes, almost three years now! My best investment! I have learned so much from your videos. I like rewatching them, too, like the Norbert's Gambit one. I can never remember how to do it when I go to invest so I always need a refresher haha @@CanadianTShirt
@kourts34 that's what I'm here for! 😊
Great video! I didn't realize it was so simple to transfer from TD to Questrade. Ive been putting it off and will try it now. Thanks Adrian (your video on RESP explained was awesome too)
I'm happy to help! Make sure you follow the steps in this video and it won't cost you anything! I transferred cash and stocks from TD Direct Investing years ago so I can tell you first hand that it works very smoothly! And thank you for becoming a member! =)
This video is gold! thanks so much
Thank you! That's what I LOVE to hear! 😁
Great post! ...wow, Questrade is really building incentive for people to switch over. Wish it existed when I first started mucking around with stocks. Thanks Adrian!
You got it buddy! And the great thing is that every year, Questrade makes it even better! About a year ago, they would only reimburse transfer fees if you moved at least $15K but now they removed that minimum balance. Sure it might cost them some money in the short term but it will definitely encourage more everyday Canadians to join =)
You are an inspiration and cool guy. Take care
Very thorough. You are amazing, Adrian!
I will dig more if I can transfer my kids RESP Mutual funds from TD as In-kind. If not, I guess the only option is to liquidate and do cash transfer to Questrade RESP
You got it buddy! Usually bank mutual funds like TD can't be held outside of the bank so it's unlikely that TD funds can be held within Questrade. If that's the case then an in-kind transfer won't work and it will just be a cash transfer instead, that's what I did =)
Thanks! I'm
Planning to move my stocks to questrade from wealth simple!
Thanks Serene! I'm glad this video was helpful! =)
Wow, i thought I did not need to watch this since I have transferred a few investments from a few institutions, WRONG.... it's a refresher and for my next transfer, from Tangerine to my Questrade account, they might charge a fee and if so, I'll know how to get that back.... THANKS AGAIN, Canadian in a tee....and Happy Holidays, from another Canadian but, in a sweater...it's the Winter of our discontent....NO TRAVEL this December so, no Hot beautiful Naples, Flordia weather to bask in.
I'm happy to hear that you found my video informative, even though you've already been through this process before! I hope you make the most of your winter in a sweater! =)
Thanks man, you explain things so concisely and simply, it’s helped me a lot getting started in investing
Thank buddy! I'm glad to hear my videos are helpful! Happy new year! =)
New subscriber here. Glad I found your channel. Every point you make is crisp and to the point. The text on the left side of the videos is really helpful too.
Thanks buddy! I really appreciate that and I'm glad that you find my presentation style helpful. Welcome to the channel! 😁
Awesome, exactly what I was looking for. Very thorough. Thank you.
I'm glad you found it helpful! =)
@@CanadianTShirt Quick question regarding Taxable accounts with in-kind transfers. Will Questrade keep the same cost base when moving the stock over? Lets say a stock originally had a cost base of $1,000 but current market value is $800. Will QT show the original cost and current market value, or show a new cost base of $800 (the market value when moved). Thanks again.
Thank you Adrian!!! very very helpful info, thank you for taking the time to put this info here!💪⚡⚡⚡
It's my pleasure Dan! Thanks for those kind words and I'm glad you found this video valuable! =)
Adrian! You are a national treasure! That is all.
Wow! Thank you Nick! That's so kind of you to say! 🙏
I've never been called a national treasure before.... I gotta be on the lookout for Nicholas Cage now! 😆
This is so thorough and clear. Thank you so much!! Keep up the great work!
Thanks buddy! I'm happy to hear that this video was helpful! =)
Very useful information. Thanks alot
Thanks Jaismeen! Happy new year! =)
Ty so much for these videos 🙏🏻
It's my pleasure! I'm glad you find them so helpful! =)
Man, where have you been? I thought you were doing youtube full time ...I hope all is well. Good to see you back! Start pumping content, maybe also get into light stock analysis, maybe niche into a sector (as a series) until you feel you have a strong handle on the sector as whole. Maybe try to invite guests, and have a discussion, that would be amazing (CEOs, or Stock Analysts, etc). These are just ideas for the channel, take easy Adrian! I'm a very early subscriber and watched all your content!
Thank you. It was really helpfull.
You're welcome! I'm glad to hear you found it useful! =)
Love watching your videos Adrian! Looking forward to your RRSP Part III video to come out soon. Espicially on the Home Buyers’ Plan.
Thank you Scott! I'm happy to hear that my videos have been helpful! =)
Excellent video!
Once I move my rrsp to QT I can then invest that in let’s say Canoe Eit and receive dividends on my investment
So helpful thank you again. 👏🏿
You got it buddy! Thanks for checking it out once again =)
@@CanadianTShirt my pleasure
Appreciate the thorough walkthrough.
Wow! Thank you so much! This is my very first Super Thank! 🙏
I'm a pretty big holder with Qtrade currently. As per recent. The reviews from google reviews on Qtrade made me question Qtrade as a non trustworthy broker. Now I'm planning on allocating all of my securities to Quest Trade.
I've heard mixed things about Qtrade, they're definitely cheaper than the bigger banks but still more expensive than Questrade and they offer a worse service....
@@CanadianTShirt When I transfer everything over, will my financial institution be linked already. to transfer funds etc?
@@tm4s426 you mean will your bank account be linked to Questrade? I think that would depend on your financial institution but if it isn't automatically linked, you would just request a new link whenever you need to withdraw money etc
Since i have an RRSP and TFSA which are two separate accounts. If i transfer each account, closing each would mean a separate fee for each?
@@tm4s426 yes Qtrade will charge you a transfer fee for EACH account (the TFSA and RRSP) but the good news is that Questrade will also reimburse you the transfer fee for both accounts up to $150 each ($300 total)
Great video! I'm glad I saw this before I did my transfer!
Thanks Godfrey! That's what I love to hear! =)
great info! thank you!
I'm happy to hear that! Thank you for watching! =)
Hi Adrian, thank you for your videos. They are really helpful. Cheers.
Thank you Jose! I'm happy to hear you are finding these videos helpful! =)
this video really helped. thanks man !
i'll be using your referral.
Beautiful! I'm happy to hear that you found this video helpful and thank you for supporting me! Enjoy that $50 referral bonus! =)
This is brilliant video , thaaaanks
Thank you! I'm happy to hear this video was helpful! =)
Thanks so much for helping me how to do it, you did a very good job 🙏
Thanks Hayley! I'm glad you found this video helpful! 😁
Great video!!!!Good to see u again!!!!!! I always learn something with u!!!!Thanks for sharing!!!!
You got it buddy! Thanks for watching and leaving a kind comment every time! 🙏
How to withdraw your gains from RRSP account on Questrade? I just wondering if you got specific video on that? Please and Thank you!👍👍👍
I have a WHOLE video on RRSP withdrawals so check it out!
th-cam.com/video/gcYlQl6hF6w/w-d-xo.html
You will be taxed on any withdrawals you make from your RRSP so you should only be withdrawing from your RRSP when you're retired and in a lower tax bracket! =)
Great content as always, and the new camera looks great, keep up the great work
Thanks Adam! I really appreciate that! Ya this thing is a beast and it took me soooo long to get the settings right but I think I have it figured out. Plus the video file now is massive 😅
@@CanadianTShirt With Great power comes great responsibilities 😁
Excellent! Thanks for the walkthrough, very helpful!
Thank you James! I'm happy to hear it was helpful! =)
Great job as always Adrian!
Thanks Devin! I'm glad you found it helpful! =)
Just transferred my Tangerine TFSA to questrade. Thanks Adrian! Funny thing All in-kind option didn't show up, only all in cash
I'm glad this video was helpful! In the case of Tangerine, in-kind transfers wouldn't be possible anyway (at least it wasn't for me when I transferred my Tangerine Mutual Funds) so cash transfer would be the way to go =)
Saw your videos just the perfect time for me since i am planning to make my finances more organize this year...very helpful content. I will follow your advice. This made me subscribed to your channel.👍
Thank you very much for this! We wish you a happy holiday season!
I'm happy to hear that this video was helpful! Happy Holidays to you as well! 😁
Thanks for this Adrian. I didn’t need to do this specific maneuver, but suspected I’d likely find a great nugget or two and sure enough you delivered; transfers between TFSA and RRSP within Questrade. Can’t wait for this one! Have a rough estimate of when to expect it? Thanks for all you do for us newbies.
I'm happy to hear that Roberto! I probably won't be able to get to that video until the end of January since I have a bunch of other topics lined up but while you're waiting here is the super short version:
Go to Requests -> Transfer Investments or Transfer Funds and you can move cash or stocks between your accounts. Note that these will count as contributions and withdrawals so make sure you have the room! =)
@@CanadianTShirt this is fantastic! Thanks for the short version man. I’m sure I have the room as I’ve never contributed but will check. Cheers.
Thanks Adrian !
My pleasure Deb! I'm glad you found it helpful! =)
Great video!
Thank you! I'm glad you found it helpful! =)
great video! finally i requested my account transfer. thank you!
Way to go buddy! Happy investing! =)
Great tutorial Adrian! Just in time to transfer a mutual fund to QT!
Perfect timing Elsa! I'm glad I could help! =)
Hi :) glad that I found you! Now I’m watching your videos like Netflix & chill 😂
I have a question though, when registering for the first time (oh yess I’ll use your reference) and want to transfer in-kind stocks from another institution, does the minimum amount of a $1,000 is still a requirement when opening or if my transfer request will be sufficient? Of course it will be more than $1,000. Hope my question makes sense.
Thanks
I'm glad you found my channel and I hope you find my videos binge-worth! 😁
If you want your account to be activated automatically, you'll need a $1000 cash deposit. But you can contact Questrade support through their chat and they can manually activate your new account for you! Especially since you will be transferring more than $1000 worth of stocks, they will definitely activate it no problem =)
Thanks dude super helpful. Appreciate all the videos!
Thanks buddy! I'm glad to hear my videos are helpful! =)
@@CanadianTShirt Also in process of transferring over, used your code ;) - Thanks again pal
Great video Adrian! Your tips and advices are so helpful for us who are new to investments. Just a quick question though, is it possible to transfer GIC redeemable account from a bank to Questrade? I've been thinking of opening an account in Questrade. Thanks!
I've never tried it but I think it would be possible! You CAN buy and hold GICs within Questrade so I believe that a GIC transfer would work. Unless of course, it can only be held within the bank itself...
But give it a shot and let me know! =)
Hi Adrian, I've learned so much from your content. Thank you! I have a (probably dumb) question about Questrade RRSP. Is the "individual RSP" the same thing as an RRSP?? Trying not to make a mistake transferring my RRSP "in kind" from big bank to questrade...
Don't worry Christina this is a common questions but they are the SAME THING! It's just a name change! In early 2020, a lot of the big banks renamed the RRSP to the RSP account to make it easier but it's still the exact same thing. I talk about this in my RRSP Explained videos =)
th-cam.com/video/gcYlQl6hF6w/w-d-xo.html
Hi Adrian...thank you so much for such wonderful investment tips! As you mentioned in this video at 11:28...I want to transfer some funds from my TFSA in Questrade to RRSP in Questrade, how will that impact my TFSA room and what are the implications. You mentioned you will make a separate video to explain a transfer within registered accounts in Questrade, so if you can share the link of that video as I was unable to find it. Thanx...Looking forward to your reply?
You can definitely transfer stocks and funds between your TFSA and RRSP. Click on the top right tab: Requests and select Transfer Investments. Note that this will count as a TFSA withdrawal and an RRSP contribution so make sure you have available room =)
@@CanadianTShirt I do have room in RRSP although I was confused if the TFSA withdrawal will become available following year with the additional $6,000 under TFSA? Thnx in Advance!
great video. 2 questions here. 1. if i have invested multral funds in my TD tfsa and rrsp accounts, how can i move those cash to questrade? especially without hurting the tfsa contribute room for 2021? 2. if i trade frequently how does questrade track my realized income? will CRA charge me on every time i have realized income by selling stocks?
Since you hold Mutual funds, you will likely have to sell those as cash and perform a cash transfer to Questrade. Unless you are selling those mutual funds at a loss, you won't be losing any contribution room since you are doing a transfer not a withdrawal!
In a TFSA or RRSP, there are no capital gains taxes but remember you CANNOT day trade in those tax-sheltered accounts. They are designed for long term, buy and hold investing =)
It is a good video. I went from CIBC to Qestrade and then to Wealth simple though. You are right that the banks are ripping us off. The only thing which is better for me in Qestrade than in Wealth simple is the ability to buy Bonds.
You got that right! WealthSimple Trade is a great option for Canadian investments but make sure you do NOT buy US stocks or ETFs with WealthSimple. Those currency conversion fees will cost you hundreds or thousands of dollars, far more than the $5 commission you'll pay with Questrade! =)
Hey hey*, has anyone here attempted to transfer an entire RRSP from Manulife to QT? Manulife diversifies where your money is invested so I'm wondering how clean that process is. Wanted to see if anyone here has done this before I attempt.
Oh - and thanks for the video, Adrian!! 🙌
My pleasure Katie and yes it definitely can be done! My brother was able to transfer his Manulife RRSP employer account to Questrade using the steps in this video! In his case, he requested a cash transfer since those Manulife mutual funds could not be held outside of Manulife. Once that cash arrived in his Questrade RRSP account, he just bought whatever stocks and ETFs he wanted. I hope that helps! =)
Thanks for the info. What happens if you have partial shares in WS, which Questrade doesn't do? If you covered that, I missed it.
That's an interesting question! I would ask that to the support team but when you are transferring shares to Questrade, you specify a whole number of shares to transfer since they don't handle fractional shares. The remaining fractions would remain in WS, you could either keep those or sell them as cash and then do a cash transfer =)
You should make a video about when to sell stocks and re-buy stocks as a young investor?
Sure! That's a great idea! I am a long term investor so I do not sell stocks very often, I'd rather hold them for 5+ years. But the bottom line is that if you no longer believe in the future of a company, or if you truly believe that this money could grow even greater in another investment, then that's when you should sell. But don't focus too much on the short term performance, play the long game! =)
You would ignore the short term gains and just put money into stocks and etfs and forget about how the market fluctuates? I mean I could but that would kinda feel blindly investing when there are some opportunity of positives or negatives. However much less stressful
PLEASE DO THE SAME VIDEO FOR WEALTHSIMPLE!!!!
You got it! I will be making more videos for WealthSimple but when it comes to transfers and different account types, they are far more limited than Questrade. You get what you pay for lol
Thank you! This will be super useful!
Thank you Alvin! I'm happy to hear that! =)
Adrian you are a legend. Thank you so much for this video it seemed to come at a perfect time. I've watched the majority of your videos, learnt so much. Given me so much confidence to start investing in my future.
The question I had and posted on a seperste video was about how to fund my TFSA, if my TFSA in RBC direct investing is currently maxed out. And you definitely answered it!
My one question now, is since I am maxed out. And I haven't gone through the process of funding the TFSA through Q, how would I be able to fund it? I went through this process but since the account hasn't been approved yet, I can't make this transfer from RBC to Questrade.
Since its December. Would it be best just to withdraw 2000 CAD or so, wait till January, and then fund the account. And then once it's been funded and approved, I can go through with the transfer from RBC after Janurary?
Thank you so much Adrian, you're helping so many people I'm ever so grateful!
Thank you Wyatt! I really appreciate that man! 🙏
I would contact Questrade and tell them that you intent to transfer from RBC to Questrade, I'm sure that they will be able to manually approve your account without the initial $1000 transfer, especially if you are transferring more than $1000 over from RBC =)
Well that's great Manulife will only allow in cash transfer of an RRSP to quest trade
Well with Manulife you can only hold mutual funds and most mutual funds will not be able to transfer to Questrade. Again this depends on the financial institution itself but when it comes to mutual funds, most likely you will have to cash out and request a cash transfer =)