Going forward, I will be using Moomoo to invest in my non-registered account to save on fees! 👇Use my referral link below for that $200 bonus plus rebates & 6% savings rate 👇 j.moomoo.com/CanadianTshirt
@@phillipsnell6880 I hate to be the bearer of bad news but that's just not true. Even with the $10 monthly subscription, Wealthsimple STILL charges you that 1.5% fee every time you convert between currencies. So unless you already have USD laying around, I don't recommend Wealthsimple for US investing. For Canadian investing, no problem at all! I break this down in greater detail in my recent video here on Wealthsimple and the cost of USD investing 😊 th-cam.com/video/Nadm0mcHE_Y/w-d-xo.html
@@raolivei oh no I still love Questrade but the competition is certainly heating up which is a good thing! I hope that all brokers continue to improve and offer new features that benefit investors like us!
You should always be skeptical with who you give your money to but that's why it's so important to only give your money to insured and regulated institutions. And even though the parent company is from Hong Kong, our money is only going into Moomoo Canada which is 100% Canadian and regulated (based in Toronto)
But I hear you, I always want to support Canadian born and bred companies. But in this new global economy, pretty much every major institution has international ties. Just look at Manulife in my example, Canadian company but half their money comes from their Asian subsidiaries
It's true, I've met the founder of Wealthsimple, he's a Toronto born Canadian 🇨🇦 But again, Wealthsimple is owned by Power Corps (their parent company) which also owns other banks and financial institutions across Europe and Asia. But I get where you're coming from 🙂
Really good breakdown on the MooMoo app, I've been using the app now for a few months, and more than happy to move from questrade! Platforms like questrade have to lower their fee's or they will continue to lose traders to other platforms like MooMoo and Webull now that Canada finally has other options, I have been waiting for Tastytrades myself now for about 3 yrs lol
Why pay fees? When you can go with National Bank Brokerage. No fees to buy ETFs or stocks and it's a Canadian company. For US exchange use DLR. You must have a good bonus for the referral?
@@CanadianTShirt Hey Adrian, another great video, thank you so much! I am super excited with this new platform - so much information so easily found! I am considering this platform, and will wait for your Questrade vs MooMoo comparison video (vs other brokers) before making my decision. Comparing brokers: Do you know that National Bank of Canada has a zero commission at any time, no minimum required?
You bet! There's so much I want to cover! I will also make an in depth review of National Brokers. They are the first bank to offer zero commissions but I'll go over their pricing model for everything else =)
Wondering on moomoo 1) can I do Norbert Gambit without needing to call in to journal the trade? 2) do you get an apy % on cash balance held in the account? 3) can I trade pre market open hours and after hours?
Great questions! #1 YES! You can use Norbert's Gambit on Moomoo as well, I didn't include that in this video. In this video, all of the conversion fees were using the INSTANT currency conversion, which is already super low. For me personally, I won't really need Norbert's Gambit except for much larger sums of money =)
#2 yes if you signup with my referral link, you get a 6% savings rate on whatever cash balance you hold. The savings interest gets paid out weekly, you will see this towards the end of my walkthrough in the Account History section =)
@@CanadianTShirt oh sorry I must have missed that part. Thanks for going over all my Q in so much detail. Appreciate your work and dedication to us Canadians! Will have to check out moomoo. Thx
But yes they have all the order types (I just did Market order in this video) and yes they do support options trading which is not something I personally do
A number of the app reviews seem to state that it takes a little more effort to get your money from them. Sometimes requires a live call. I’ll wait awhile before considering
You mean for withdrawing cash? I haven't made any cash withdrawals just yet so I can let you know but it will often depend on which bank you're withdrawing too and what type of account!
Withdrawing from a non-registered account is simple but withdrawing from an RRSP is much more complex since it's reported to the government, it's taxable and even faces withholding taxes!
Ouch... I've never done an RRSP withdrawal but my TFSA withdrawal was certainly much faster than that! Was it a simple cash withdraw or was it a transfer to another institution? Transfers always take longer than withdrawals
Hey I love Wealthsimple and I've been with them since the beginning (almost a decade now) but I only recommend them for Canadian investing. They are VERY expensive for US investing, so please keep that in mind and don't throw your money away out of blind loyalty. Use them for CAD but not for USD. Don't use a fork to eat soup 😉
The bonuses you mention seem to be for anyone signing up for an account on their website. Am I missing something? Is there a different bonus I'm getting by using your referral code?
I tried pushing for a higher dollar amount with my custom bonus but they wouldn't budge. However, I was able to secure a longer timeframe for my bonus!
Started following your great videos recently, going back to 4 years ago, particularly TFSA DRIP - so very well explained, its much appreciated. Now thats a sign up bonus. Research tools look outstanding. I dont know if I missed but if looking to convert to USD were the exchange rates the same for CAD to USD and vice versa between Moomoo and your comparable WealthSimple (and what about your favorite Questrade)? - often any institution charging less up front costs for conversion hides it in a worse exchange rate
Thank you for those kind words and I'm glad that my older videos are still providing value! 🙏 Yes you are absolutely correct to be skeptical on that, that's what I love to see! The video was already getting over 20 minutes long so I had to cut out some things but I have screen recordings of me actually converting CAD into USD with Moomoo (this is done instantly but you can also use Norbert's Gambit as well) and I triple checked that yes, the conversion fee is just 0.09% + $2 USD. There's no hidden fee, the exchange rate Moomoo uses, matches the true exchange rate 👍
I will be making a follow up video comparing the fees of Moomoo vs WS vs Questrade and other brokers. That video will be all math and numbers and I will include live calculations on the exchange rate so stay tuned for that! I love your question! 😁
@@CanadianTShirt Thanks for the replies, keep the videos coming, they are so valuable, we, like others no doubt, are learning so much from your open disclosure and comprehensive analysis
What about Option fees? I recently switched to Interactive Brokers that have similar low fees. I'm interested in selling credit spreads. Wealth Simple are know for higher fees and Questrade have higher costs and limitations with option trading sych automate closing positions which is a deal breaker. You just miss optimal closing which can be a massive ongoing cost.
I didn't cover options trading here, I only covered commissions for stocks and ETFs. Here is the Moomoo Canada pricing for Options, check it out =) www.moomoo.com/ca/pricing
Ah man I was waiting for the IBKR review! New investor and based on what I’ve read it’s also great for US investing. Quick question, would you consider it wise to open a TFSA and RRSP with IBKR as a Canadian.. this was my plan.
I am considering the same thing since it gives access to global markets, many-most of which are RRSP eligible, as far as I can tell from CRA information. The USA is the biggest market, but not the only one...
Currently available to residents of Ontario, Quebec, Nova Scotia, New Brunswick, Manitoba, British Columbia, Prince Edward Island, Saskatchewan, Alberta, Newfoundland and Labrador. People living in Territories cannot open the account. I live in the north and I was not able to open the account.
Just wanted to clarify something about your calculation of exchange fees for Wealthsimple. I might be wrong, but from what I heard if you have more than 100K CAD in Wealthsimple USD account is free and exchange fees to USD are waived. So, your calculation of selling your USD positions worth of 161K CAD probably should’ve been free of charge. But overall, great video! More players in Canadian market are definitely welcome!
Adrian addresses this point if you watched the full video. You still have to pay the conversion fee if you put CAD in the US account. The only benefit the USD accounts gives you is that when you sell a US stock/ETF, it doesn’t automatically convert it to CAD, allowing you to buy a different US stock/ETF without the need for another exchange. You still have to pay a 3% fee (1.5% for a two way CAD USD conversion) unless you can convert your CAD to USD somewhere else with a lower exchange fee.
That’s wrong. If you have more than 100k in wealthsimple they waive the $10 per month for holding US stocks and ETFs. You will still pay 1.5% conversion fees for converting from Canadian to US dollars and another 1.5% fee when you convert back back to Canadian. And this is regardless if you make money or not from that stock. I like WS but for Can stocks only.
Good morning, teacher, a question, can I use Moomoo to buy and sell shares as many times as I want? My idea is to open an account to take advantage of opportunities and make some profits. Thank you in advance. I will open an account soon with your link, as I told you a few days ago. I just want to be well informed.
These types of videos actually help so much. Thank you for making this type of content! Such a niche because not many on TH-cam are doing it for Canadians
Back then, almost all of the finance content online was US focused. With the exception of my friend, Brandon Beavis. I'm glad we're seeing more Canadian content out here to fill that need! 😊
Following up because I’ve read through the terms and it doesn’t say anywhere that the transfer can be CAD equivalent, but I’m assuming this is the case since all dollars in the terms are CAD. If anyone could confirm I’d appreciate it!
I'm expecting to hear this a lot in this video... while I always try to support Canadian born and made companies, at the end of the day, Moomoo Canada is a Canadian corporation and it is 100% regulated and protected. But again, it's your money and you should only put it somewhere you are comfortable with 😊
No you don't just receive $200 as free cash. You have to complete trades and then you will receive that $200 back as a rebate. For me, that $200 was paid out as 4 separate $50 coupons
I'm expecting to hear this a lot in this video... while I always try to support Canadian born and made companies, at the end of the day, Moomoo Canada is a Canadian corporation and it is 100% regulated and protected. But again, it's your money and you should only put it somewhere you are comfortable with 😊
For now they only support the TFSA, RRSP and non-registered accounts. I know that RESP and FHSA are on the way and I hope they're also working on the RDSP 😊
@@CanadianTShirt are you certain that FHSA is on the way? I asked them and they said that they are not thinking about offering FHSA accounts since their platform is based on IBKR.
@@bsca1956 But in the meantime, if you're planning on buying a house soon, don't waste that $8K of contribution room for 2024 waiting for Moomoo. You can open an FHSA with QT or WS for now =)
Please continue making these videos; they’re incredibly valuable. Like many others, we're gaining so much insight from your openness and thorough analysis. Thanks a lot!
How is it better than keeping TFSA(CAD investments) in Wealthsimple and RRSP (USD investments) in Questrade? In that strategy, there are no fees for WS and 5$/sale in QT... (ETF investing)
But yes for purely Canadian stocks, WS is the cheapest. For US stocks, they are easily the most expensive. For USD investments, it depends on the dollar amount. Small and instant conversions are cheaper with Moomoo and larger conversions are better with Norbert's Gambit on QT. A lot to discuss!
Nope never. You may deflect with stories that other companies having “Asian” ties and “International/ Global ties” but this company is pure Chinese. Gee - we outsource manufacturing to China to get cheaper goods for NA. How’s that working out ? This is a total sell out. Shameful. Rejoice in your “savings”.
I'm sorry you feel that way but we live in a global economy and as I've said in previous comments, Moomoo Canada is a Canadian corporation which is fully licensed and regulated. If you want to avoid anything to do with China, good luck buying any physical products
@@CanadianTShirtdude. You just proved my point. WE SOLD OUT TO CHINA !!! Perhaps you should get more informed as well. De Globalization is now a growing transition. Because most of the world is now understanding how selling out to China destroyed their economy. Hiding behind “ globalization “ is a cop out. But you do you. Still….. it’s a shameful sellout.
Canada second's largest import and export country is China, only behind the US. We need to be more open minded and be more present on the international scene, rather it is a good thing new companies are willing to come here. we are already one of the worse performing country in the OECD, our economic growths and forecasted growth been terrible.
I recently came across your channel and started working on my investment plans in Canada. You are one of the best mentor in Canada who make things simplified in terms of investments and stock markets. I am happy to share that with you valuable knowledge sharing, I started investing in stocks. Thank you so much!
Thank you for those kind words! I'm glad that you found me and congratulations on taking that big step and taking charge of your financial future! Keep it up! 🙌
What about commission free brokers like National Bank. I get that moomoo offers free stuff, but most of this you can get on seeking alpha for free too. Just curious on your thoughts?
Of course! But Wealthsimple is the more direct competitor due to the mobile app. But don't worry, I'll be making a whole video comparing the fees on Questrade vs Moomoo vs Wealthsimple in different scenarios
The math can get pretty complicated, especially when you throw in Norbert's Gambit and ECN fees, that's why I'm saving that for another video. Stay tuned! 😁
@@CanadianTShirt I agree! QT is just so horrible when it comes to market research... I hope moomoo speeds up all the lacking functionality such as drips and other registered accounts. I'll probably move everything by then. Thanks for the info!
@@CanadianTShirtCould you include IBKR in that comparison video ? I am also looking for the best platform to trade options. QT is ripping us off with their fees on options
You bet I will! There is a TON to discuss with IBKR since they probably have the most complex pricing model (but yes it is generally a great choice for options)
How much interest do you earn on excess cash balances? The 6% is only a cash rebate, correct? Interactive brokers gives you 6.38% interest on cash balances.
No whatever cash you hold in your Moomoo account is generating 6% interest for up to 60 days. You can see at the end of my walkthrough chapter, where I show the Account History, you can see those interest payments which are paid out every week 😊
Questrade is still my overall favourite, since they have more account types and features I care about but the competition is heating up! And that's a good thing for us!
As Moomoo introduces new account types and features, I can see them taking the top spot. And in the meantime, I hope Questrade steps up. I'll be making a head to head comparison video soon! 😊
How easy is it to transfer accounts in stocks to a new broker? I’m dreading the process to be honest. But it seems on it’s way to be way better than QT.
To be honest, I haven't done the transfer myself. Personally, I'm keeping my existing portfolio with Questrade but going forward, all of my new non-registered investments will be done with Moomoo so I'm just adding money, I'm not doing transfers just yet
outgoing wire transfer cost $20? so if i want to withdraw my money, i need to pay $20? why dont you compare this platform with interactive brokers canada? they have very low fees as well and no transfer fee.
@@evadeanu1 that's wrong. he is here to give honest comparisons. he said he will be comparing with national bank, even though he has no deals with them.
I think you always miss the mark on this type of advice. While the fees for momoo are lower for larger US trades. They are much lower on Wealth Simple for smaller trades. As an example if you buy $20 every paycheck of 5 different US stocks it’s much cheaper on WS.
No the moomoo team assured me that my referral bonus will be active for another month or two. In January, the referral bonus will change but my link will always give a better bonus than the public one 😊
I don't think there is a European version of Norbert's Gambit. The only one I know here in Canada is for CAD to USD. Converting to Euros would be much more expensive and complicated
Moomoo actually has super low commissions so they work for smaller trades. For purely CAD, WS is the cheapest since it's free but when it comes to US investments, they are by far the worst due to those conversion fees!
@@CanadianTShirt Hi Adrian. I followed your reference link and installed Moomoo for US investing. So far, I purchased 30 stocks of SoFi and I want to buy more of those but I hate the fact that it takes 2 days for my money to even show in Moomoo account. During your discussions with Moomoo management, have they given any indication on when we can expect the instant deposit feature to be available because right now I am losing on some good value stocks purely because of the delay in money transfer?
I've asked them many times, they can't make any definitive promises but I know that instant deposits are a top priority for them. I think the holdup is the regulatory issues with Interac
@@CanadianTShirtokay thank you for your response Adrian. Would appreciate if you can share here if you get to hear some tentative date from Moomoo on instant deposit feature. Until then, I will continue to proactively deposit money in advance and keep on US investing that way! Love your channel by the way! More power to you ! ❤
@9.02 u mention transfer stocks and cash. So is it possible to transfer say 100k (in kind)stocks (like TD.TO) from your your QT margin account to your Moo moo cash account and quality for the bonus?
Yes exactly! If you transfer (either in-kind or cash transfer) you would get BOTH of the bonuses! You would get the signup bonus PLUS the transfer bonus 😊
But I'm okay to pay a $1.50 commission to access all these research tools. Plus, I'm not paying any commission for the first 90 days with my referral link 😉
Can I still qualify for that transfer bonus when moving U.S. stocks from TFSA at questrade to TFSA at moomoo? and how much the transfer would cost in total?
Absolutely! That's what the transfer bonus is there for! Just make sure you also open a CASH account because the bonus will only be paid into a cash account. They don't want to affect your TFSA contribution room =)
If you do an in-kind transfer, you're not selling anything. But your bank and brokerage will likely charge you a transfer fee. Luckily Moomoo's transfer bonus will more than make up for this =)
Do i get the sign up bonus of $200 (for $2000 deposit) in TFSA? But im thinking to withdraw it in December as year end is approaching… thanks for letting me know
You MUST open a Cash account as well (even if you just put in $5 and the rest in your TFSA) None of the bonuses (cash coupons, rebates etc) will be paid out in a TFSA since it will affect your contribution room
You're not going to get $200 as cash (that you can just withdraw afterwards) it's going to be more like a rebate. So as long as you make actual trades, you will receive $200 in your cash account. But again you need to open a CASH account to receive this
So if you are a purely Canadian ETF investor, you can get bette value with WS or Questrade. But for stocks and especially for US investing, I am very impressed with their fees! =)
But in your case, if you put in $2K into each, no you will only receive $200 in total and it will be in your margin account. You won't get paid into your TFSA since it messes up the contribution limits
Is it a loophole that i can see the latest prices on trading view and can make a position for ex-long side as i already saw it on the trafing view and make profits? Can u please explain the delay and what it impacts ?
You don't get to buy it at an older price, unless of course you can find a seller willing to sell at that lower price but that's very unlikely, especially in a high volume market
Thank you Enid! And nope it's not too late! So the 6% savings interest is valid for 60 days once you sign up and the $2000 commission rebates is valid for 90 days after you sign up. The other cash and transfer bonuses are a one-time thing
So once you signup, take advantage of all that bonus money! That being said, don't wait too long since I don't know how long my referral bonus will remain active! I'll keep you posted if they give me any news there but it should be safe for a month or two so November should be fine =)
You are right I’m personally experienced 1.5 % conversion fee is huge like I experienced I sold my nvda shares 6k invested and earn 400cnd but conversion fee is 97cnd
Ouch... ya I wish more Canadians read the fine print and understood how much WS charges in conversion fees... it really adds up once your portfolio grows!
For Wealthsimple, if you are paying $10 a month for that USD Premium account or if you have $100K in assets, then you can hold USD in which case yes you can withdraw USD without selling (please avoid losing 1.5% in conversion fees when you sell... that's massive!)
I'm curious - with Moomoo, can I transfer investments in my TFSA into another TFSA account (you are allowed to do this as far as I am aware, just keep in mind the limits)? They are already held in US stocks and I don't want to sell, convert, etc.
Absolutely you can! You will do either a cash transfer or an in-kind transfer from wherever your TFSA is into your new Moomoo TFSA! And this will not affect your contribution room and it won't trigger any sells or conversions etc 😊
A deemed disposition only happens when you transfer from a registered account into a TFSA (or tax sheltered account) since you were supposed to pay taxes on your gains. I cover it in this video here, How to Transfer BETWEEN Accounts =) th-cam.com/video/WBqJaAFYcRQ/w-d-xo.html
All great info and I’m impressed but like another viewer asked , will the bonus for signing up cover the transfer fee from my other broker ?? Also is MOOMOO linked to the Chinese ?? Thanks 🙏
Absolutely! Most banks or brokerages will charge between $60 and $150 in transfer fees. Looking at Moomoo's transfer bonus, they offer between $200 and $2300 in transfer bonuses, depending on your amount!
So yes they more than make up for the transfer fee your broker will charge. And remember this transfer bonus COMBINES with the signup bonus if you use my referral link, I'll include it below 👇 j.moomoo.com/CanadianTshirt
But this corporation is owned by Futu, a holding company in Hong Kong. They just own the majority of the shares, they don't interfere with the Canadian corporation
So TD was the very first brokerage I invested with over a decade ago. I still have my account open there, it's where I hold my RioCan shares. But I'm not going to transfer that to Moomoo because I still want DRIPs
Going forward, I will keep my existing portfolio with Questrade but in my non-registered account, I will now be putting new money into Moomoo to benefit from these cheap US fees =)
Amazing referral bonuses! It was not clear to me, tho, if the $200 stock cash coupon can be used as cash (withdrawn), towards purchasing stocks or only to pay for their fees. 😊
My questions is not just related to this video, but all online brokerages you look at (WS, QT and now moomoo). Is it not cheaper to use brick and mortar banks for trading? Not sure if I am missing something but TD charges a $10 flat rate per trade on Canadian and US stocks, so as long as you are making larger purchases, TD would be cheaper, no?
I actually started with TD for investing a decade ago. Great platform but they are very expensive! $10 every time I buy or sell a stock or ETF? Way too much!
That's why I switched over to QT, they were literally half the price and no fees to buy ETFs! Now looking at Moomoo, literally a fraction of the cost of TD so the competition is getting much better! =)
Thanks for the video. I know there is still things missing for canada but do you what's best between questrade, IB and Momo for US investment in Canada (not Wealthsimple for sure)
That's an excellent question! There is no clear "best" it really depends on different scenarios for example, large trades are best with Norbert's Gambit. For smaller trades, you want lower commissions
@@CanadianTShirt Thanks yes totally I know this is hard to reply in general terms but I think this will be good to know wich is best for different use cases such as: long term us investment, traders with many trades, canadian stock investment etc.
Hi, I clicked your link and signed up it says it’s gonna take 1-3 business days to verify my information which is normal. I’m just wondering if I deposit 2000 after I get verified I still get the bonus of 200$😊
Yesss, I think you can only make deposit after they verify your info and finish opening account. Then the bonus will be issued to your app and you'd need to claim it.
Thanks Jen yes I believe that's the case. I'm not sure how much of a leeway they give you in terms of timing for the initial deposit. To be safe and ensure you get the full $200 bonus, I would make my initial deposit $2K, as soon as they allow you to
DRIP and e-transfer are key features. I don't care much about account types as long as TFSA and RRSP are available. FHSA is maybe a must, but not a strong must.
I know the registered accounts take time to get government approval. Even Wealthsimple still doesn't support the RESP after 5 years (for self directed investing) Hopefully Moomoo won't take that long! But I'm glad they have at least the TFSA and RRSP =)
Hello. i am a subscriber and regularly watch your videos. I have a TD Direct investing account and want to know if that is a right platform to invest on. I am naive in investing and trying to start but confused with too much of info on the web. Also I want to know that if I can use my current TFSA account in TD to invest in Questtrade or wealthsimple?
So TD Direct Investing was actually the FIRST platform I used over a decade ago! They are fantastic with great features and research tools but they are expensive....
They charge $10 commission fees for each trade, including ETFs.. Questrade is literally HALF the price and they charge no commissions for ETFs. That's why I quickly switched to Questrade about a decade ago. Moomoo is even cheaper with only $1.5 or $2 trades so at this point, I wouldn't recommend TD, especially for a beginner investor
And yes you can do an in-kind transfer from your TD TFSA into a Questrade TFSA (or Moomoo TFSA) The cool thing about an in-kind transfer is that you're not selling the stocks, you're just moving them! That's what I did when I moved over to Questrade. Check out my tutorial on how to TRANSFER here =) th-cam.com/video/Bf1zufNlQSk/w-d-xo.html
And the $200 signup bonus isn't a cash deposit. You still have to buy stocks or ETFs and then you will receive that $200 as a rebate. In my case, my $200 bonus was paid out in 4 separate $50 rebates
@@CanadianTShirtI have deposited $2000 and got two $50 cash rebate. It’s showing me that I can unfreeze it only after 90 days. Seems like there are lot of hidden clause inside this app.
Adrian, quick Q: why go with TFSA in QT when strategy is exclusively CAD investments to avoid US withholding, when Wealthsimple allows for all trades including CAD stocks for free?
Yes in terms of fees, WS is cheaper for CAD investing but it comes down to the features. Questrade just has way more functionality that I care about, especially on the desktop
Even something simple like being able to sort my columns and customize by Book value vs Market value, you don't get that with WS because they make it "too simple" So for me, it's a personal preference. There's a lot more to break down so stay tuned! =)
I was about to close my Disnat account due to an unexpected $100 annual fee and stop investing in my TFSA and RRSP... then your video came as a godsend!
Personally, I can't stand monthly fees or annual fees... I would rather pay a commission fee, I only pay when I actually use the service. That makes much more sense to me
Ok Im sold but is it possible to transfer my TFSA from RBC Direct Investing to Mooomoo? All my investments are in the US market so this makes sense for me.Also can I not use the link to open an account for my husband as well? When I click on the link a second time I get the" congratulations application submitted". instead of a new application with Canadian T-shirt again? Thanks
Absolutely! At the end of the walkthrough chapter, I show you where you can request transfers. You can do a cash transfer or an in-kind transfer where you would move your shares over from RBC into Moomoo without selling them! 😊
@@CanadianTShirt Also can I not use the link to open an account for my husband as well? When I click on the link a second time I get the" congratulations application submitted". instead of a new application with Canadian T-shirt again? Thanks
Oh I see! It's probably because the cookies are stored on your computer. Do you have a second computer for your husband? Or it would be best for him to click my link and signup through his phone 😊
You can do a cash transfer or an in-kind transfer (meaning you don't sell the stocks) Very easy to do but takes time to get processed from both parties
Yes all financial institutions in Canada will provide the relevant tax documents at the end of February or early March. That includes your T3, T5 and other forms =)
Here's an update while in the process of opening an account... The way you get cash reward is after maintaining the balance in the account for 90 days, then 4 cash coupons of $50 become available in your rewards. Very confusing! 0:000:00
Yes you won't receive a $200 cash deposit (that would be too easy sadly) you receive $200 in cash coupons. So you make the trades and then you'll receive that $200 back, kind of like a rebate
What’s enticing is the 6% promotional interest for those who want to park some cash (currently at 2.5% with EQB). However what will it will offer in the future. Can you elaborate please?
It's very enticing indeed! Especially as interest rates are being cut across the board. I fought hard to secure this juicy signup bonus for you guys (better than the public one) 😊
Just tried to open an individual account and as a US born person living in Canada it is not an option for me, just FYI for your viewers. Thanks for making all of your great content! Very helpful.
@@CanadianTShirt I tried that but geographic restrictions only allow for a Canadian account and then I'm locked out of that because of my country of birth. I spoke with their customer support and I guess it's a regulatory thing they're working on and hopefully changes soon.
Hi, I have all my US investing with RBC, shocked after i watched your videos how much banks charges for conversion. everything is hidden and we dont notice. I have a lot of us stocks for long term investment, i am now wondering if i transfer my portfolio over to once of the brokerage you recommend like questrade or moo moo, and i able to transfer my entire portfolio including US holding stock, at US currency, as well as the US currency i have with RBC holdings. Or will RBC get me to convert back to canadian for the stock and cash holdings 1st before i can transfer out my portfolio. Just hope i can avoid the second conversion rate when i sell and withdraw.
in the Moomoo Canada account, can you do what TD Bank or other CDN banks do? Etransfer? can I move $$ from Moomoo account back to my CDN TD account? Pay Canadian bills, credit cards, Enbridge, Bell, ect ect.
Thanks for the detailed walkthrough! More options for Canadian investors is always good to keep the established investing platforms on their toes. I'm glad you gave us the pros and cons for the app ... definitely something I'll consider to use in the future. :)
WOW! WOW! WOW! Adrian, how.long is that bonus offer valid for? I want to open and account but I want to accumulate the $ vs taking out of my Questrade...(unless you tell me it's as bad as Wealthsimple!! 😂)
They assured me that my current offer will be valid for at least 2 months after which, there may be a new offer. But they will always ensure that my viewers get a better offer than the public one 😊
@CanadianTShirt Ohhh OK! My plan is saving up the $2K without touching current investments, which is imminent, and go for the best deal but I'll keep the transfer bonus in mind.too. Thank you!!!
totally unrelated: a story on how the expansion and popularity of online brokerages has effected the stock market. Has it increased the P?E ratios on the various markets, for example?
Interesting question.... we have definitely seen a HUGE shift from majority institutional investors into more retail investors (every day people buying stocks by themselves) but crazy valuations and P/E's have always been around. Wall street "experts" tend to make just as emotional trades as an average joe. Just look at the dot com bubble 😉
hahaha I'm not allowed to disclose dollar amounts (seriously lol) but yes we negotiated a deal and I am being paid to make this video. But as always, these words are entirely my own and you know how selective I am when I choose who to endorse 😊
By the way, Moomoo does support Norbert's Gambit, I just didn't show it in this video here. For several thousand dollars, Moomoo's instant conversion is super cheap and you don't have to wait. MUCH cheaper than converting at a bank (watch out for their hidden fees!)
How come you never talked about TD Stock which was your favourite bank in Canada and now its facing all those penalities from US Can you make a video on that explaining how is Td affected by that.
I have talked about the TD issues for about a year now on my members-only videos, where I talk about holding or even buying TD stock as the story develops. And I have made many of these videos public and free so go back and take a look 😊
On the public channel, I don't love making news-based videos since they are only relevant for a few weeks. I prefer making evergreen videos that provide value for YEARS. That being said, I will definitely share my thoughts on TD stock the next time I make a stock analysis video on them =)
I hope so! When I first started investing a decade ago, Questrade was the ONLY one offering lower fees than the banks. Now the competition is heating up and that is a great thing for investors like us! 😁
I think you got me convinced, especially with the CAD -> USD conversion and the margin account. I will definitively use your affiliate link to get my account created.
I'm glad my tutorial was helpful Patrick! Yes that is what I'm doing going forward, I'll be using them for my non-registered account. I hope you max out that signup bonus! 😁
And I can see you're membership is now at 3 years and 11 months! That's INCREDIBLE buddy! Soon enough, you'll be at 4 years and a new colour! 😎 I can't thank you enough for sticking with me all these years 🙏
Hi. Thank you for this video. I opened TFSA acct. using your referral and just made $2000 deposit. I will open cash acct. as well. Will I get $200 bonus in my cash acct.? 6% interest on uninvested money in Both acct.?
Exactly! You will be earning 6% on your total cash balance across all accounts. And that interest will be paid out every week, but the payments will only go into your CASH account, so that it doesn't affect your TFSA room =)
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Going forward, I will be using Moomoo to invest in my non-registered account to save on fees!
👇Use my referral link below for that $200 bonus plus rebates & 6% savings rate 👇
j.moomoo.com/CanadianTshirt
Use $10 wealthsimple monthly subscription for a month which gives no exchange fees only conversion cost... then cancel it by end of the month.
no more questrade?
@@phillipsnell6880 I hate to be the bearer of bad news but that's just not true. Even with the $10 monthly subscription, Wealthsimple STILL charges you that 1.5% fee every time you convert between currencies. So unless you already have USD laying around, I don't recommend Wealthsimple for US investing. For Canadian investing, no problem at all! I break this down in greater detail in my recent video here on Wealthsimple and the cost of USD investing 😊
th-cam.com/video/Nadm0mcHE_Y/w-d-xo.html
@@raolivei oh no I still love Questrade but the competition is certainly heating up which is a good thing! I hope that all brokers continue to improve and offer new features that benefit investors like us!
@CanadianTshirt I have one question, why do you choose Moomoo for non registered but not registered account such as TFSA?
While I'm happy there's more competition entering the Canadian market, I would never put my money into a brokerage with ties to China.
You should always be skeptical with who you give your money to but that's why it's so important to only give your money to insured and regulated institutions. And even though the parent company is from Hong Kong, our money is only going into Moomoo Canada which is 100% Canadian and regulated (based in Toronto)
But I hear you, I always want to support Canadian born and bred companies. But in this new global economy, pretty much every major institution has international ties. Just look at Manulife in my example, Canadian company but half their money comes from their Asian subsidiaries
@@sparky0195 that was my turn off as well wealth is from Canada
It's true, I've met the founder of Wealthsimple, he's a Toronto born Canadian 🇨🇦 But again, Wealthsimple is owned by Power Corps (their parent company) which also owns other banks and financial institutions across Europe and Asia. But I get where you're coming from 🙂
Really good breakdown on the MooMoo app, I've been using the app now for a few months, and more than happy to move from questrade! Platforms like questrade have to lower their fee's or they will continue to lose traders to other platforms like MooMoo and Webull now that Canada finally has other options, I have been waiting for Tastytrades myself now for about 3 yrs lol
Why pay fees? When you can go with National Bank Brokerage. No fees to buy ETFs or stocks and it's a Canadian company. For US exchange use DLR. You must have a good bonus for the referral?
I'll be covering National Bank very soon, I'll be making an in depth review!
As well as a bunch of head to head comparisons, stay tuned!
@@CanadianTShirt hey there, will your comparison include orther brokerages like questrade? Also when can we expect the video :)
You bet it will! I'll be making a whole series of videos comparing the different brokerages!
These brokerage reviews take a ton of work to edit and film but you should see more of these reviews in the next several weeks =)
Make a video wealthsimple vs moomo vs questrade vs ibkr vs national bank direct brokerage❤️
You bet I will!
I will be doing a BUNCH more brokerage reviews and head to head comparisons! So much to discuss! =)
@@CanadianTShirt Hey Adrian, another great video, thank you so much! I am super excited with this new platform - so much information so easily found!
I am considering this platform, and will wait for your Questrade vs MooMoo comparison video (vs other brokers) before making my decision.
Comparing brokers: Do you know that National Bank of Canada has a zero commission at any time, no minimum required?
You bet! There's so much I want to cover! I will also make an in depth review of National Brokers. They are the first bank to offer zero commissions but I'll go over their pricing model for everything else =)
Momo doesn't compare to interactive brokers lol
Wondering on moomoo
1) can I do Norbert Gambit without needing to call in to journal the trade?
2) do you get an apy % on cash balance held in the account?
3) can I trade pre market open hours and after hours?
Great questions! #1 YES! You can use Norbert's Gambit on Moomoo as well, I didn't include that in this video. In this video, all of the conversion fees were using the INSTANT currency conversion, which is already super low. For me personally, I won't really need Norbert's Gambit except for much larger sums of money =)
#2 yes if you signup with my referral link, you get a 6% savings rate on whatever cash balance you hold. The savings interest gets paid out weekly, you will see this towards the end of my walkthrough in the Account History section =)
#3 yes you can trade pre-market and after hours on both Canadian and US markets =)
@@CanadianTShirt oh sorry I must have missed that part.
Thanks for going over all my Q in so much detail. Appreciate your work and dedication to us Canadians! Will have to check out moomoo. Thx
Happy to help and great questions! I like where your head is at! 😉
Hows it compared to Questrade? (I am lazy)
Does it have trailing stops, etc.... how about trading options? Multileg, conditional orders, etc?
I have so much filmed footage that didn't make it into the final video, it was already over 20 minutes long 😅
But yes they have all the order types (I just did Market order in this video) and yes they do support options trading which is not something I personally do
A number of the app reviews seem to state that it takes a little more effort to get your money from them. Sometimes requires a live call. I’ll wait awhile before considering
You mean for withdrawing cash? I haven't made any cash withdrawals just yet so I can let you know but it will often depend on which bank you're withdrawing too and what type of account!
Withdrawing from a non-registered account is simple but withdrawing from an RRSP is much more complex since it's reported to the government, it's taxable and even faces withholding taxes!
It sure takes long indeed! It took me 4 weeks (1 month) to withdraw funds from my TFSA and RRSP accounts from Questrade. This is very normal.
Ouch... I've never done an RRSP withdrawal but my TFSA withdrawal was certainly much faster than that! Was it a simple cash withdraw or was it a transfer to another institution? Transfers always take longer than withdrawals
Competition brings down prices the beauty of capitalism im with wealth simple and will stay with them WE THE NORTH
Hey I love Wealthsimple and I've been with them since the beginning (almost a decade now) but I only recommend them for Canadian investing. They are VERY expensive for US investing, so please keep that in mind and don't throw your money away out of blind loyalty. Use them for CAD but not for USD. Don't use a fork to eat soup 😉
But again, feel free to invest where or how you want! And hopefully this new competition will push Wealthsimple to lower their US fees... we'll see!
The bonuses you mention seem to be for anyone signing up for an account on their website. Am I missing something? Is there a different bonus I'm getting by using your referral code?
I tried pushing for a higher dollar amount with my custom bonus but they wouldn't budge. However, I was able to secure a longer timeframe for my bonus!
So you'll get those commission rebates for an extra 30 days with my link for example =)
@@CanadianTShirt Thanks! Signed up with your code and now just waiting the 3 business days for them to approve.
@@chrislevesque670 enjoy that bonus! 😎
Started following your great videos recently, going back to 4 years ago, particularly TFSA DRIP - so very well explained, its much appreciated. Now thats a sign up bonus. Research tools look outstanding. I dont know if I missed but if looking to convert to USD were the exchange rates the same for CAD to USD and vice versa between Moomoo and your comparable WealthSimple (and what about your favorite Questrade)? - often any institution charging less up front costs for conversion hides it in a worse exchange rate
Thank you for those kind words and I'm glad that my older videos are still providing value! 🙏 Yes you are absolutely correct to be skeptical on that, that's what I love to see! The video was already getting over 20 minutes long so I had to cut out some things but I have screen recordings of me actually converting CAD into USD with Moomoo (this is done instantly but you can also use Norbert's Gambit as well) and I triple checked that yes, the conversion fee is just 0.09% + $2 USD. There's no hidden fee, the exchange rate Moomoo uses, matches the true exchange rate 👍
I will be making a follow up video comparing the fees of Moomoo vs WS vs Questrade and other brokers. That video will be all math and numbers and I will include live calculations on the exchange rate so stay tuned for that! I love your question! 😁
@@CanadianTShirt Thanks for the replies, keep the videos coming, they are so valuable, we, like others no doubt, are learning so much from your open disclosure and comprehensive analysis
I appreciate those kind words! You guys are the reason I do what I do, 5 years later! 🙏
What about Option fees? I recently switched to Interactive Brokers that have similar low fees. I'm interested in selling credit spreads. Wealth Simple are know for higher fees and Questrade have higher costs and limitations with option trading sych automate closing positions which is a deal breaker. You just miss optimal closing which can be a massive ongoing cost.
I didn't cover options trading here, I only covered commissions for stocks and ETFs. Here is the Moomoo Canada pricing for Options, check it out =)
www.moomoo.com/ca/pricing
Ah man I was waiting for the IBKR review! New investor and based on what I’ve read it’s also great for US investing. Quick question, would you consider it wise to open a TFSA and RRSP with IBKR as a Canadian.. this was my plan.
I am considering the same thing since it gives access to global markets, many-most of which are RRSP eligible, as far as I can tell from CRA information. The USA is the biggest market, but not the only one...
@@roberttaylor3594do you know if it is TFSA eligible? Very new to this
Yes IBKR is a fantastic platform as well! Not great for beginners, it can be very complicated and intimidating but you get great value!
I'll break down all the pros and cons in an upcoming review! =)
Currently available to residents of Ontario, Quebec, Nova Scotia, New Brunswick, Manitoba, British Columbia, Prince Edward Island, Saskatchewan, Alberta, Newfoundland and Labrador.
People living in Territories cannot open the account. I live in the north and I was not able to open the account.
Ouch I am sorry to hear that... It's very frustrating with different provincial and regional restrictions...
Who are you currently investing with? I don't think I have too many viewers living in the territories so I would appreciate your insights! 😊
@@CanadianTShirt I have RRSP and TFSA with Questrade.
I'm the same. For me personally, I will keep my registered accounts with QT but going forward, my non-registered investing will be with Moomoo
Just wanted to clarify something about your calculation of exchange fees for Wealthsimple. I might be wrong, but from what I heard if you have more than 100K CAD in Wealthsimple USD account is free and exchange fees to USD are waived. So, your calculation of selling your USD positions worth of 161K CAD probably should’ve been free of charge. But overall, great video! More players in Canadian market are definitely welcome!
I wonder about this too.
Adrian addresses this point if you watched the full video. You still have to pay the conversion fee if you put CAD in the US account.
The only benefit the USD accounts gives you is that when you sell a US stock/ETF, it doesn’t automatically convert it to CAD, allowing you to buy a different US stock/ETF without the need for another exchange.
You still have to pay a 3% fee (1.5% for a two way CAD USD conversion) unless you can convert your CAD to USD somewhere else with a lower exchange fee.
only your fee of 10 a month is waived, you are still going to pay 1.5% conversion fee
@@Pantomime0709 Oh, I must’ve missed that part. Thanks a lot for explaining!
That’s wrong. If you have more than 100k in wealthsimple they waive the $10 per month for holding US stocks and ETFs. You will still pay 1.5% conversion fees for converting from Canadian to US dollars and another 1.5% fee when you convert back back to Canadian. And this is regardless if you make money or not from that stock. I like WS but for Can stocks only.
Good morning, teacher, a question, can I use Moomoo to buy and sell shares as many times as I want? My idea is to open an account to take advantage of opportunities and make some profits. Thank you in advance. I will open an account soon with your link, as I told you a few days ago. I just want to be well informed.
You absolutely can buy and sell as often as you want (I don't recommend active trading, I suggest buy and hold instead)
Just keep in mind that every time you buy or sell, you will be charged that commission fee: $1.50 or $2 so keep that in mind! =)
@@CanadianTShirt thanks You a lot
@@salut8598 glad I could help!
Don't bother, ibkr is still superior
I'll be making an in depth review of IBKR so stay tuned!
They are also great but there are many pros and cons to consider!
IBKR is a mess to navigate and complex just to put money in! Crappy UI. Plus I can’t deposit USD
These types of videos actually help so much. Thank you for making this type of content! Such a niche because not many on TH-cam are doing it for Canadians
Thank you for those kind words and you bet! That's literally why I created this TH-cam channel all those years ago!
Back then, almost all of the finance content online was US focused. With the exception of my friend, Brandon Beavis. I'm glad we're seeing more Canadian content out here to fill that need! 😊
Would you use this over IKBKR for US investing? I think IKBKR USD conversion is cheaper at spot price + $2.
I am also very impressed with IBKR. Their pricing model has changed drastically over the years and there's a lot to break down
Stay tuned for an in-depth review! =)
@@CanadianTShirt Looking forward to it.
You got it! 😊
how it is as compared to IBKR?
They are fairly comparable, there's pros and cons to each! I'll be making an in depth review soon! =)
For the extra $200 for the 10k transfer, could I transfer US dollars directly from questrade? In that case would it just need to be ~$7200 USD?
Following up because I’ve read through the terms and it doesn’t say anywhere that the transfer can be CAD equivalent, but I’m assuming this is the case since all dollars in the terms are CAD. If anyone could confirm I’d appreciate it!
Please make a video… Questrade VS MooMoo
You bet I will! I'll be making a bunch of head to head comparisons! =)
Hey I got a question
If I transfer from wealthsimple to moomoo will WS sell my US stocks?
If you do an in-kind transfer then no! You won't sell the shares, the shares themselves will just move to Moomoo =)
Interesting but I ain't putting my cash and personal infos in a chinese plateform
I'm expecting to hear this a lot in this video... while I always try to support Canadian born and made companies, at the end of the day, Moomoo Canada is a Canadian corporation and it is 100% regulated and protected. But again, it's your money and you should only put it somewhere you are comfortable with 😊
You literally get americans spy on you lol so brainwashed and propagandized bin the west
Hello, one question, to open an account as you explained, would it be $2000 CAN or USD? thanks in advance
In order to receive the $200 signup bonus? It would be $2000 CAD =)
@@CanadianTShirt Thank you very much once again for your help, and I will open the account through your link 👌🏼
I'm happy to help and enjoy that bonus! =)
@salut8598 was the 200cad bonus as cashback in your cash account? Or it was 200cad discounts on future stock transactions?. Thanks!
No you don't just receive $200 as free cash. You have to complete trades and then you will receive that $200 back as a rebate. For me, that $200 was paid out as 4 separate $50 coupons
not interested we are canadian we stay in canada
I'm expecting to hear this a lot in this video... while I always try to support Canadian born and made companies, at the end of the day, Moomoo Canada is a Canadian corporation and it is 100% regulated and protected. But again, it's your money and you should only put it somewhere you are comfortable with 😊
Even Wealthsimple is owned by Power Corps which owns banks and financial institutions across Europe and Asia. We live in a global economy now
Hey Adrian,
When we sell US stocks does Money stays in Us dollars or it get converted to CAD?
Nope you get to keep both currencies! Selling CAD stocks will stay in CAD cash. Selling US stocks will stay in USD =)
Does moomoo have rdsp?
Unfortunately no not yet... They are still new to Canada and it takes time to get approved for those tax registered accounts
For now they only support the TFSA, RRSP and non-registered accounts. I know that RESP and FHSA are on the way and I hope they're also working on the RDSP 😊
@@CanadianTShirt are you certain that FHSA is on the way? I asked them and they said that they are not thinking about offering FHSA accounts since their platform is based on IBKR.
@@bsca1956 oh that's what they told me! And I spoke to quite a few higher ups, I'll keep you posted!
@@bsca1956 But in the meantime, if you're planning on buying a house soon, don't waste that $8K of contribution room for 2024 waiting for Moomoo. You can open an FHSA with QT or WS for now =)
Please continue making these videos; they’re incredibly valuable. Like many others, we're gaining so much insight from your openness and thorough analysis. Thanks a lot!
You got it! I will be doing a TON more brokerage reviews so stay tuned! =)
Ur videos are like gem 💎
Thank you so much! I really appreciate that! 🙏
How is it better than keeping TFSA(CAD investments) in Wealthsimple and RRSP (USD investments) in Questrade? In that strategy, there are no fees for WS and 5$/sale in QT... (ETF investing)
I'll be making an indepth comparison video between all three brokerages and their fees in different scenarios so stay tuned!
But yes for purely Canadian stocks, WS is the cheapest. For US stocks, they are easily the most expensive. For USD investments, it depends on the dollar amount. Small and instant conversions are cheaper with Moomoo and larger conversions are better with Norbert's Gambit on QT. A lot to discuss!
Nope never. You may deflect with stories that other companies having “Asian” ties and “International/ Global ties” but this company is pure Chinese. Gee - we outsource manufacturing to China to get cheaper goods for NA. How’s that working out ? This is a total sell out. Shameful. Rejoice in your “savings”.
I'm sorry you feel that way but we live in a global economy and as I've said in previous comments, Moomoo Canada is a Canadian corporation which is fully licensed and regulated. If you want to avoid anything to do with China, good luck buying any physical products
And again at the end of the day, it's your money! So feel free to use that money however you feel comfortable! No one will force you to use Moomoo 🙂
@@CanadianTShirtdude. You just proved my point. WE SOLD OUT TO CHINA !!! Perhaps you should get more informed as well. De Globalization is now a growing transition. Because most of the world is now understanding how selling out to China destroyed their economy. Hiding behind “ globalization “ is a cop out. But you do you. Still….. it’s a shameful sellout.
Canada second's largest import and export country is China, only behind the US. We need to be more open minded and be more present on the international scene, rather it is a good thing new companies are willing to come here. we are already one of the worse performing country in the OECD, our economic growths and forecasted growth been terrible.
Dude, even the phone you’re using 15 hours a day is made in china. Relax.
I recently came across your channel and started working on my investment plans in Canada. You are one of the best mentor in Canada who make things simplified in terms of investments and stock markets. I am happy to share that with you valuable knowledge sharing, I started investing in stocks. Thank you so much!
Thank you for those kind words! I'm glad that you found me and congratulations on taking that big step and taking charge of your financial future! Keep it up! 🙌
Those transfer bonus's are enticing...
I know right?? I had to double check and triple check when I first spoke to them 😉
What about commission free brokers like National Bank. I get that moomoo offers free stuff, but most of this you can get on seeking alpha for free too. Just curious on your thoughts?
I will be making an in depth review of NBDB soon, stay tuned!
I'm very happy to see one of the big 6 banks pushing for free commission trades but of course there are fees elsewhere!
Picking wealthsimple to compare makes this new broker shine. Using questrade would have been a different story 🤣
Of course! But Wealthsimple is the more direct competitor due to the mobile app. But don't worry, I'll be making a whole video comparing the fees on Questrade vs Moomoo vs Wealthsimple in different scenarios
The math can get pretty complicated, especially when you throw in Norbert's Gambit and ECN fees, that's why I'm saving that for another video. Stay tuned! 😁
@@CanadianTShirt I agree! QT is just so horrible when it comes to market research... I hope moomoo speeds up all the lacking functionality such as drips and other registered accounts. I'll probably move everything by then. Thanks for the info!
@@CanadianTShirtCould you include IBKR in that comparison video ? I am also looking for the best platform to trade options. QT is ripping us off with their fees on options
You bet I will! There is a TON to discuss with IBKR since they probably have the most complex pricing model (but yes it is generally a great choice for options)
How much interest do you earn on excess cash balances? The 6% is only a cash rebate, correct? Interactive brokers gives you 6.38% interest on cash balances.
No whatever cash you hold in your Moomoo account is generating 6% interest for up to 60 days. You can see at the end of my walkthrough chapter, where I show the Account History, you can see those interest payments which are paid out every week 😊
Questrade: "Et Tu Brute" 😅
hahahaha that one made me laugh! 🤣
Questrade is still my overall favourite, since they have more account types and features I care about but the competition is heating up! And that's a good thing for us!
As Moomoo introduces new account types and features, I can see them taking the top spot. And in the meantime, I hope Questrade steps up. I'll be making a head to head comparison video soon! 😊
How easy is it to transfer accounts in stocks to a new broker? I’m dreading the process to be honest. But it seems on it’s way to be way better than QT.
To be honest, I haven't done the transfer myself. Personally, I'm keeping my existing portfolio with Questrade but going forward, all of my new non-registered investments will be done with Moomoo so I'm just adding money, I'm not doing transfers just yet
Wealthsimple is 0 % commission for Canadian tradin listed companies. Where did you get 1.49 commission fees
Wealthsimple is $0 commissions for Canadian stocks and ETFs. The $1.49 was Moomoo's commission fees
outgoing wire transfer cost $20? so if i want to withdraw my money, i need to pay $20?
why dont you compare this platform with interactive brokers canada? they have very low fees as well and no transfer fee.
Because he does not deal with IBKR. Why the sky is blue?
@@evadeanu1 that's wrong. he is here to give honest comparisons. he said he will be comparing with national bank, even though he has no deals with them.
I've never had to use wire transfers, those are always more expensive. Just regular bank transfers are the way to go
And yes I will be making an in depth review of IBKR, stay tuned! =)
I think you always miss the mark on this type of advice.
While the fees for momoo are lower for larger US trades. They are much lower on Wealth Simple for smaller trades. As an example if you buy $20 every paycheck of 5 different US stocks it’s much cheaper on WS.
Hi..is there a deadline to use your link to sign up?
No the moomoo team assured me that my referral bonus will be active for another month or two. In January, the referral bonus will change but my link will always give a better bonus than the public one 😊
As of now, the 6% savings interest is valid for 60 days after you signup and the commission rebates is 90 days after signup =)
Does this broker allows you to trade Future MES and MCL?
I believe so, I don't do options trading personally but I know that Moomoo is catering towards active options traders
Do they support the norbert Gambit
Is there a EURo etf to be able to apply the gambit ?
I don't think there is a European version of Norbert's Gambit. The only one I know here in Canada is for CAD to USD. Converting to Euros would be much more expensive and complicated
Plus I don't know many brokers that even let you hold Euro currency. It's usually just CAD and USD
How about DRIP and fractional share? Do they support?
Not yet but they're working on it!
I cover that and all their limitations and downsides at the end of the video, around 20:36 =)
If you dont plan to buy large number of stocks at once, but expensive stocks, the commission would be more as compared to WS or Questrade?
I will be making an in-depth comparison of all the fees for different scenarios between all three brokers so stay tuned!
Moomoo actually has super low commissions so they work for smaller trades. For purely CAD, WS is the cheapest since it's free but when it comes to US investments, they are by far the worst due to those conversion fees!
@@CanadianTShirt Hi Adrian. I followed your reference link and installed Moomoo for US investing. So far, I purchased 30 stocks of SoFi and I want to buy more of those but I hate the fact that it takes 2 days for my money to even show in Moomoo account. During your discussions with Moomoo management, have they given any indication on when we can expect the instant deposit feature to be available because right now I am losing on some good value stocks purely because of the delay in money transfer?
I've asked them many times, they can't make any definitive promises but I know that instant deposits are a top priority for them. I think the holdup is the regulatory issues with Interac
@@CanadianTShirtokay thank you for your response Adrian. Would appreciate if you can share here if you get to hear some tentative date from Moomoo on instant deposit feature. Until then, I will continue to proactively deposit money in advance and keep on US investing that way! Love your channel by the way! More power to you ! ❤
@9.02 u mention transfer stocks and cash. So is it possible to transfer say 100k (in kind)stocks (like TD.TO) from your your QT margin account to your Moo moo cash account and quality for the bonus?
Yes exactly! If you transfer (either in-kind or cash transfer) you would get BOTH of the bonuses! You would get the signup bonus PLUS the transfer bonus 😊
Why buy Canadian stocks here? WS is commission free right.
It's true Wealthsimple is commission free for Canadian stocks and ETFs
But I'm okay to pay a $1.50 commission to access all these research tools. Plus, I'm not paying any commission for the first 90 days with my referral link 😉
What are the fees for options trading? And do the trade rebates apply to options trades as well?
In this video, I only covered stocks and ETF commission fees!
They also support options trading, here are all their fees =)
www.moomoo.com/ca/pricing
Can I still qualify for that transfer bonus when moving U.S. stocks from TFSA at questrade to TFSA at moomoo? and how much the transfer would cost in total?
Absolutely! That's what the transfer bonus is there for! Just make sure you also open a CASH account because the bonus will only be paid into a cash account. They don't want to affect your TFSA contribution room =)
If you do an in-kind transfer, you're not selling anything. But your bank and brokerage will likely charge you a transfer fee. Luckily Moomoo's transfer bonus will more than make up for this =)
have you bought the stock FUTU? worth a look?
No I haven't and I haven't looked at the stock
When it comes to foreign stocks, I would rather hold an ETF anyway. Buying stocks on foreign exchanges is a hassle and expensive
Do i get the sign up bonus of $200 (for $2000 deposit) in TFSA? But im thinking to withdraw it in December as year end is approaching… thanks for letting me know
Or what does stock cash coupon exactly mean?😊
You MUST open a Cash account as well (even if you just put in $5 and the rest in your TFSA) None of the bonuses (cash coupons, rebates etc) will be paid out in a TFSA since it will affect your contribution room
You're not going to get $200 as cash (that you can just withdraw afterwards) it's going to be more like a rebate. So as long as you make actual trades, you will receive $200 in your cash account. But again you need to open a CASH account to receive this
Got it thanks for clarification!!
@@asliati8803 happy to help!
Do they charge commission on canadian ETF's? Isnt that free on questrade and wealthsimple
Yes that is one of their downsides. The commission fees I covered ($1.50 Canadian and $2 US) apply to both stocks and ETFs
So if you are a purely Canadian ETF investor, you can get bette value with WS or Questrade. But for stocks and especially for US investing, I am very impressed with their fees! =)
@@CanadianTShirt why r u not suggesting ibkr??btw love ur videos❤️
I do recommend IBKR! I just haven't made an in depth review just yet. But it's coming!
have a question for YOU ,if i open a TFSA and MARGIN account and put 2000.00 in each account do i get 200 in each account or only 200 for one account
You just need to put $2000 in total to get the max bonus! Remember that the cash bonus is only paid in the CASH account (not the TFSA)
But in your case, if you put in $2K into each, no you will only receive $200 in total and it will be in your margin account. You won't get paid into your TFSA since it messes up the contribution limits
Ok thanks for information, will start with margin account and see how it goes, if I like it I will transfer my tfsa to them in the future
That's a solid plan! I'm using Moomoo for my non-registered as well =)
Will they support trading options in the future? Thank you and all the best!
They do support trading options!
I didn't cover it in this video since I don't personally trade options but yes they absolutely do =)
Is it a loophole that i can see the latest prices on trading view and can make a position for ex-long side as i already saw it on the trafing view and make profits? Can u please explain the delay and what it impacts ?
Oh no no, whenever you place a trade, you are trading on the CURRENT, LIVE prices of the market
You don't get to buy it at an older price, unless of course you can find a seller willing to sell at that lower price but that's very unlikely, especially in a high volume market
Thank you Adrian. Is it too late in November to sign up for moomoo? Or when is the deadline for all those benefits if I sign up?
Thank you Enid! And nope it's not too late! So the 6% savings interest is valid for 60 days once you sign up and the $2000 commission rebates is valid for 90 days after you sign up. The other cash and transfer bonuses are a one-time thing
So once you signup, take advantage of all that bonus money! That being said, don't wait too long since I don't know how long my referral bonus will remain active! I'll keep you posted if they give me any news there but it should be safe for a month or two so November should be fine =)
Do they pay your transfer fee from another institution on top of the signup and transfer bonus?
I don't believe so. Most banks or brokerages will charge between $50 and $120 for transfers so the bonus will more than make up for it
How do you feel about XFN? Canadian finance sector ETF.
I'm not a huge fan... it has pretty high fees and only contains about 25 companies
I would rather get a broader ETF that contains everything in XFN for much smaller fees!
You are right I’m personally experienced 1.5 % conversion fee is huge like I experienced I sold my nvda shares 6k invested and earn 400cnd but conversion fee is 97cnd
Ouch... ya I wish more Canadians read the fine print and understood how much WS charges in conversion fees... it really adds up once your portfolio grows!
When u cash out can u just cash out in usd? Instead of converting it back to cad
In Moomoo? Yes you can withdraw CAD and USD so no conversion necessary!
For Wealthsimple, if you are paying $10 a month for that USD Premium account or if you have $100K in assets, then you can hold USD in which case yes you can withdraw USD without selling (please avoid losing 1.5% in conversion fees when you sell... that's massive!)
I'm curious - with Moomoo, can I transfer investments in my TFSA into another TFSA account (you are allowed to do this as far as I am aware, just keep in mind the limits)? They are already held in US stocks and I don't want to sell, convert, etc.
Absolutely you can! You will do either a cash transfer or an in-kind transfer from wherever your TFSA is into your new Moomoo TFSA! And this will not affect your contribution room and it won't trigger any sells or conversions etc 😊
@@CanadianTShirt thanks!
@@CanadianTShirt does this mean there is a deemed disposition at the time of transfer?
Not if you are doing an in-kind transfer! And not if you are transferring from a TFSA into another TFSA!
A deemed disposition only happens when you transfer from a registered account into a TFSA (or tax sheltered account) since you were supposed to pay taxes on your gains. I cover it in this video here, How to Transfer BETWEEN Accounts =)
th-cam.com/video/WBqJaAFYcRQ/w-d-xo.html
All great info and I’m impressed but like another viewer asked , will the bonus for signing up cover the transfer fee from my other broker ?? Also is MOOMOO linked to the Chinese ?? Thanks 🙏
Absolutely! Most banks or brokerages will charge between $60 and $150 in transfer fees. Looking at Moomoo's transfer bonus, they offer between $200 and $2300 in transfer bonuses, depending on your amount!
So yes they more than make up for the transfer fee your broker will charge. And remember this transfer bonus COMBINES with the signup bonus if you use my referral link, I'll include it below 👇
j.moomoo.com/CanadianTshirt
@ ok thanks. Is the MOOMOO brokerage associated with the Chinese in any way ??
Moomoo Canada is a Canadian corporation. It's based here in Toronto and totally regulated and insured by the Canadian government
But this corporation is owned by Futu, a holding company in Hong Kong. They just own the majority of the shares, they don't interfere with the Canadian corporation
so are you transferring everything from TD to Moomoo
So TD was the very first brokerage I invested with over a decade ago. I still have my account open there, it's where I hold my RioCan shares. But I'm not going to transfer that to Moomoo because I still want DRIPs
Going forward, I will keep my existing portfolio with Questrade but in my non-registered account, I will now be putting new money into Moomoo to benefit from these cheap US fees =)
Do they have option trading for Canadian residents?
Yes they do! I only covered the commission fees for stocks and ETFs but they also support options trading
I don't personally trade options but from what I see, the fees are competitive
Amazing referral bonuses! It was not clear to me, tho, if the $200 stock cash coupon can be used as cash (withdrawn), towards purchasing stocks or only to pay for their fees. 😊
I don't believe you can withdraw that $200 bonus as cash. You can use it to purchase stocks or ETFs =)
My questions is not just related to this video, but all online brokerages you look at (WS, QT and now moomoo). Is it not cheaper to use brick and mortar banks for trading? Not sure if I am missing something but TD charges a $10 flat rate per trade on Canadian and US stocks, so as long as you are making larger purchases, TD would be cheaper, no?
I pay $0.01 to buy ETF's, and $5 for stocks. Absolutely more expensive under TD or brick and mortar.
$10 per trade is cheaper that $1 per trade???
Work on your math buddy before you invest.
I actually started with TD for investing a decade ago. Great platform but they are very expensive! $10 every time I buy or sell a stock or ETF? Way too much!
That's why I switched over to QT, they were literally half the price and no fees to buy ETFs! Now looking at Moomoo, literally a fraction of the cost of TD so the competition is getting much better! =)
@@CanadianTShirt is it more to buy limit orders on Questrade or moomoo. or do you only use market price? please let me know
On their website they are showing $0 commissions for us stocks?? Is it counting the reabte??
That's not right... where are you seeing that? Are you sure you're looking at Moomoo Canada?
Here is the link to their pricing details =)
www.moomoo.com/ca/pricing
Thanks for the video. I know there is still things missing for canada but do you what's best between questrade, IB and Momo for US investment in Canada (not Wealthsimple for sure)
That's an excellent question! There is no clear "best" it really depends on different scenarios for example, large trades are best with Norbert's Gambit. For smaller trades, you want lower commissions
I'll be doing an in depth comparison on all the brokers across these different scenarios. Stay tuned! =)
@@CanadianTShirt Thanks yes totally I know this is hard to reply in general terms but I think this will be good to know wich is best for different use cases such as: long term us investment, traders with many trades, canadian stock investment etc.
You got it! I'll cover all of that! =)
Hi, I clicked your link and signed up it says it’s gonna take 1-3 business days to verify my information which is normal. I’m just wondering if I deposit 2000 after I get verified I still get the bonus of 200$😊
Yesss, I think you can only make deposit after they verify your info and finish opening account. Then the bonus will be issued to your app and you'd need to claim it.
@@Jenniferrrrrrrr-e8q thanks jen
Thanks Jen yes I believe that's the case. I'm not sure how much of a leeway they give you in terms of timing for the initial deposit. To be safe and ensure you get the full $200 bonus, I would make my initial deposit $2K, as soon as they allow you to
@@CanadianTShirt does it matter what account the 2k contribution is to? I did it to my TFSA
@@GentlemenOfSport that shouldn't matter but make sure you open a CASH account as well, even if you just put in $5
DRIP and e-transfer are key features. I don't care much about account types as long as TFSA and RRSP are available. FHSA is maybe a must, but not a strong must.
I'm with you there, I am very interested in the DRIP feature, hopefully they get that soon
I know the registered accounts take time to get government approval. Even Wealthsimple still doesn't support the RESP after 5 years (for self directed investing) Hopefully Moomoo won't take that long! But I'm glad they have at least the TFSA and RRSP =)
Trust me, it's coming soon.
Hi, I had already signed up with moomoo, would I be able to use your referral code still or no?
I don't think so. I believe my bonus is only for new clients
How long have you been with Moomoo?
@@CanadianTShirt I was just approved today, I watched your video but forgot to click the referral link.
@@talha682 contact support and see if you can apply my referral after the fact? Maybe 🙂
@@CanadianTShirt I'll do that! Thank you
Hello.
i am a subscriber and regularly watch your videos. I have a TD Direct investing account and want to know if that is a right platform to invest on. I am naive in investing and trying to start but confused with too much of info on the web.
Also I want to know that if I can use my current TFSA account in TD to invest in Questtrade or wealthsimple?
So TD Direct Investing was actually the FIRST platform I used over a decade ago! They are fantastic with great features and research tools but they are expensive....
They charge $10 commission fees for each trade, including ETFs.. Questrade is literally HALF the price and they charge no commissions for ETFs. That's why I quickly switched to Questrade about a decade ago. Moomoo is even cheaper with only $1.5 or $2 trades so at this point, I wouldn't recommend TD, especially for a beginner investor
And yes you can do an in-kind transfer from your TD TFSA into a Questrade TFSA (or Moomoo TFSA) The cool thing about an in-kind transfer is that you're not selling the stocks, you're just moving them! That's what I did when I moved over to Questrade. Check out my tutorial on how to TRANSFER here =)
th-cam.com/video/Bf1zufNlQSk/w-d-xo.html
How much time it takes once the 2000 dollar is deposited to get 200 dollar bonus? And the 6% interest is only for 2 months?
Yes the 6% savings interest is for 2 months. The commission rebates are for 90 days with my link =)
And the $200 signup bonus isn't a cash deposit. You still have to buy stocks or ETFs and then you will receive that $200 as a rebate. In my case, my $200 bonus was paid out in 4 separate $50 rebates
@@CanadianTShirtI have deposited $2000 and got two $50 cash rebate. It’s showing me that I can unfreeze it only after 90 days. Seems like there are lot of hidden clause inside this app.
Adrian, quick Q: why go with TFSA in QT when strategy is exclusively CAD investments to avoid US withholding, when Wealthsimple allows for all trades including CAD stocks for free?
Stay tuned for my head to head WS vs QT comparison (part 2) where I focus on the CAD side of investing!
Yes in terms of fees, WS is cheaper for CAD investing but it comes down to the features. Questrade just has way more functionality that I care about, especially on the desktop
Even something simple like being able to sort my columns and customize by Book value vs Market value, you don't get that with WS because they make it "too simple" So for me, it's a personal preference. There's a lot more to break down so stay tuned! =)
I was about to close my Disnat account due to an unexpected $100 annual fee and stop investing in my TFSA and RRSP... then your video came as a godsend!
Ouch... $100 annual fee? Was it because you were inactive? That's so frustrating
Personally, I can't stand monthly fees or annual fees... I would rather pay a commission fee, I only pay when I actually use the service. That makes much more sense to me
Ok Im sold but is it possible to transfer my TFSA from RBC Direct Investing to Mooomoo? All my investments are in the US market so this makes sense for me.Also can I not use the link to open an account for my husband as well? When I click on the link a second time I get the" congratulations application submitted". instead of a new application with Canadian T-shirt again? Thanks
Absolutely! At the end of the walkthrough chapter, I show you where you can request transfers. You can do a cash transfer or an in-kind transfer where you would move your shares over from RBC into Moomoo without selling them! 😊
@@CanadianTShirt Also can I not use the link to open an account for my husband as well? When I click on the link a second time I get the" congratulations application submitted". instead of a new application with Canadian T-shirt again? Thanks
Oh I see! It's probably because the cookies are stored on your computer. Do you have a second computer for your husband? Or it would be best for him to click my link and signup through his phone 😊
I think if you use the same device for two separate accounts, you might not get the bonus the second time
@@CanadianTShirt I will try on my desk top and let you know, appreciate your reply!
How easy is it to transfer from wealth simple to moomoo?
You can do a cash transfer or an in-kind transfer (meaning you don't sell the stocks) Very easy to do but takes time to get processed from both parties
How about our taxes documents ? Does Momoo provide them to us , like Wealthsimple does?
Yes all financial institutions in Canada will provide the relevant tax documents at the end of February or early March. That includes your T3, T5 and other forms =)
@@CanadianTShirt thanks for the info!
Happy to help! =)
Here's an update while in the process of opening an account... The way you get cash reward is after maintaining the balance in the account for 90 days, then 4 cash coupons of $50 become available in your rewards. Very confusing! 0:00 0:00
Yes you won't receive a $200 cash deposit (that would be too easy sadly) you receive $200 in cash coupons. So you make the trades and then you'll receive that $200 back, kind of like a rebate
Thanks for sharing your update! It will be helpful to new users! =)
What’s enticing is the 6% promotional interest for those who want to park some cash (currently at 2.5% with EQB). However what will it will offer in the future. Can you elaborate please?
It's very enticing indeed! Especially as interest rates are being cut across the board. I fought hard to secure this juicy signup bonus for you guys (better than the public one) 😊
If you click my referral link and scroll down, you'll see all the fineprint there:
j.moomoo.com/CanadianTshirt
But essentially the 6% interest will last for 60 days. After that, it depends on what Moomoo's saving rate is at that point
You the man. Thanks!
I do what I can! 🙌
Just tried to open an individual account and as a US born person living in Canada it is not an option for me, just FYI for your viewers. Thanks for making all of your great content! Very helpful.
Oh really? That's frustrating... so you are a US citizen living in Canada but not a Canadian citizen yet?
Hmmm perhaps you can open a Moomoo US account instead?
@@CanadianTShirt I tried that but geographic restrictions only allow for a Canadian account and then I'm locked out of that because of my country of birth. I spoke with their customer support and I guess it's a regulatory thing they're working on and hopefully changes soon.
That's very frustrating... I guess since they're new to Canada they are restricted when it comes to unusual residency statuses
Is there a referral code for moomoo?
You betcha! Here it is! =)
j.moomoo.com/CanadianTshirt
Can American citizens sign up? I'm having trouble with their drop down menu.
You are a US citizen living in Canada?
Sorry I don't have any experience with this and the Moomoo US app is totally separate from the Canadian one. I suggest contacting support! =)
@@CanadianTShirt thanks, yes, it seems that the Canadian platform doesn't accept U.S. Canadian dual citizens
Oh that is frustrating.... contact support and see what they can do for you
Isn't IBKR still better since they charge just flat $1 USD per trade as apposed to Moomo which still costs $1.99?
I'll be breaking down IBKR and their pricing model and pros and cons in a review soon! =)
But yes they are also a great option =)
@@CanadianTShirt Thank you, looking forward to it :)
@@rockykhanna7518 you got it!
Hi, I have all my US investing with RBC, shocked after i watched your videos how much banks charges for conversion. everything is hidden and we dont notice. I have a lot of us stocks for long term investment, i am now wondering if i transfer my portfolio over to once of the brokerage you recommend like questrade or moo moo, and i able to transfer my entire portfolio including US holding stock, at US currency, as well as the US currency i have with RBC holdings. Or will RBC get me to convert back to canadian for the stock and cash holdings 1st before i can transfer out my portfolio.
Just hope i can avoid the second conversion rate when i sell and withdraw.
in the Moomoo Canada account, can you do what TD Bank or other CDN banks do? Etransfer? can I move $$ from Moomoo account back to my CDN TD account? Pay Canadian bills, credit cards, Enbridge, Bell, ect ect.
Unfortunately not yet. As of now, the best way to fund your account is a bill payment which takes 1 business day for the money to arrive
They're still new to Canada so eventually they will support instant deposits and etransfers but not yet
Thanks for the detailed walkthrough! More options for Canadian investors is always good to keep the established investing platforms on their toes. I'm glad you gave us the pros and cons for the app ... definitely something I'll consider to use in the future. :)
You got it buddy! The competition is definitely heating up and that's a very good thing for us Canadian investors! 😊
WOW! WOW! WOW! Adrian, how.long is that bonus offer valid for? I want to open and account but I want to accumulate the $ vs taking out of my Questrade...(unless you tell me it's as bad as Wealthsimple!! 😂)
They assured me that my current offer will be valid for at least 2 months after which, there may be a new offer. But they will always ensure that my viewers get a better offer than the public one 😊
For now the 6% savings interest is active for 60 days after signup and the commission rebates are 90 days =)
You can either save up $2K to get that $200 signup bonus or maybe do a transfer, that way you ALSO get the transfer bonus 😊
@CanadianTShirt Ohhh OK! My plan is saving up the $2K without touching current investments, which is imminent, and go for the best deal but I'll keep the transfer bonus in mind.too. Thank you!!!
@@jijib7691 happy to help!
totally unrelated: a story on how the expansion and popularity of online brokerages has effected the stock market. Has it increased the P?E ratios on the various markets, for example?
Interesting question.... we have definitely seen a HUGE shift from majority institutional investors into more retail investors (every day people buying stocks by themselves) but crazy valuations and P/E's have always been around. Wall street "experts" tend to make just as emotional trades as an average joe. Just look at the dot com bubble 😉
How much is MooMoo paying you to push for them? Just kidding, love your content, Adrian. Much love from Quebec.
hahaha I'm not allowed to disclose dollar amounts (seriously lol) but yes we negotiated a deal and I am being paid to make this video. But as always, these words are entirely my own and you know how selective I am when I choose who to endorse 😊
Thanks for the support as always. Merci beaucoup! 😊
if I was buying a lot of US positions, I would convert to USD before I put it into the brokerage...and not at a bank, at one of the options online.
Yes I covered that in detail in my recent video on Norbert's Gambit and different ways to convert into USD =)
th-cam.com/video/Nadm0mcHE_Y/w-d-xo.html
By the way, Moomoo does support Norbert's Gambit, I just didn't show it in this video here. For several thousand dollars, Moomoo's instant conversion is super cheap and you don't have to wait. MUCH cheaper than converting at a bank (watch out for their hidden fees!)
How long do all your Moomoo referral bonus offers go for?
The 6% savings interest is 60 days and the $2000 commission rebate is 90 days
Then the cash bonus and transfer bonus are a one time thing =)
It's better to invest in a National bank brokerage with no fee and with free research tools
NBDB is another fantastic option! There's a lot to discuss with them so stay tuned for an in-depth review! =)
How come you never talked about TD Stock which was your favourite bank in Canada and now its facing all those penalities from US Can you make a video on that explaining how is Td affected by that.
I have talked about the TD issues for about a year now on my members-only videos, where I talk about holding or even buying TD stock as the story develops. And I have made many of these videos public and free so go back and take a look 😊
On the public channel, I don't love making news-based videos since they are only relevant for a few weeks. I prefer making evergreen videos that provide value for YEARS. That being said, I will definitely share my thoughts on TD stock the next time I make a stock analysis video on them =)
Thanks 🎉
Happy to help!
Happy to help! =)
Good this is available now. Hopefully other online brokerages do this to try to stay competitive.
I hope so! When I first started investing a decade ago, Questrade was the ONLY one offering lower fees than the banks. Now the competition is heating up and that is a great thing for investors like us! 😁
Are bonuses taxable?
Nope they are not considered taxable income so no worries =)
I would like to see a comparison of fees with Questrade please. Thanks for the great content!
You bet! That video is coming up! =)
It gets more complex with QT since it really depends on the dollar amounts!
I think you got me convinced, especially with the CAD -> USD conversion and the margin account. I will definitively use your affiliate link to get my account created.
I'm glad my tutorial was helpful Patrick! Yes that is what I'm doing going forward, I'll be using them for my non-registered account. I hope you max out that signup bonus! 😁
And I can see you're membership is now at 3 years and 11 months! That's INCREDIBLE buddy! Soon enough, you'll be at 4 years and a new colour! 😎 I can't thank you enough for sticking with me all these years 🙏
@@CanadianTShirt Pleasure is all mine, Adrian! Hope to see you in person soon (In a Blossom Meetup) 🙌🙌
I better see you in Montreal this year! 😉
Hi. Thank you for this video. I opened TFSA acct. using your referral and just made $2000 deposit. I will open cash acct. as well. Will I get $200 bonus in my cash acct.? 6% interest on uninvested money in Both acct.?
Exactly! You will be earning 6% on your total cash balance across all accounts. And that interest will be paid out every week, but the payments will only go into your CASH account, so that it doesn't affect your TFSA room =)
And yes your $200 cash bonus will be paid out into your CASH account as well in a few weeks
Wow . Fantastic one . Thx Adrian
I will start using this for currency exchange first, if I gain trust will start trading
That's a solid strategy! I'm glad you found this video helpful! 😊