Any tricks on lowering brokerages costs at TD? $29/trade is too high!

[studolf]

Just found out TD charges $29 per trade for ETFs. Any way to lower this cost? I myself would go with an online broker, but I'm helping someone setup a portfolio in an RDSP account; so far TD's the only bank offering self directed RDSPs.

I do have the option of going with the e-series funds for free, but I'd rather use ETFs to add additional asset classes; such as REITs and emerging markets.

[boipinoi604]

The last time I have talked to them, they said the trading cost is reduced if the account has a household asset of 50k+ with TD Waterhouse.

[Stryker]

The last time I have talked to them, they said the trading cost is reduced if the account has a household asset of 50k+ with TD Waterhouse.

That's what I see as well on page 1 of TD Waterhouse's Commission Schedule. (http://www.tdwaterhouse.ca/document/PDF/apply/forms/tdw-apply-forms-521778-pdf.pdf)

$50,000*+ Household Assets $9.99

*Clients with combined household assets greater than $50,000 but less than $100,000 must also elect to have their household accounts registered for TD Waterhouse eServices – electronic account statements, trade confirmations and tax documents.

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In the MoneySense Guide To The Perfect Portfolio, Dan Bortolotti mentions on page 71:

Choose ETF's if:

- your account is at least $30,000 to $50,000

-your brokerage charges a commission of no more than $10 per trade

[FiNaL WaR]

change to virtual brokers or interactive brokers.

1$ per trade

you'll thank me later

[studolf]

change to virtual brokers or interactive brokers.

1$ per trade

you'll thank me later

Yes I myself would go with an online broker, but I'm opening an RDSP account for someone, and online brokers don't offer these yet.

He only has around 20k, so he will not qualify for the 50k exemption for low fees. If it's gone cost him $29/trade, then what do you guys think of all-in-one ETFs like the ishares XGR or the Horizons HAA? That way, only one ETF purchase is required, and he can keep contributing every year. Once the ETF is purchased, future contributions are free right?

[cmackie]

You could try e-series funds instead of ETFs while your balance is below 30-50k and there are no commissions (watch the early redemption fees though).

[Mark77]

change to virtual brokers or interactive brokers.

1$ per trade

you'll thank me later

Its not only $1/trade, but IB doesn't rip you off on forex, and they have a platform that is light years ahead of any of the Canadian brokers in terms of access to world markets.

[S5]

Its not only $1/trade, but IB doesn't rip you off on forex, and they have a platform that is light years ahead of any of the Canadian brokers in terms of access to world markets.

They don't do registered accounts, this thread is about setting up a RDSP.