Investing

New To Stocks need some help

  • Last Updated:
  • Feb 13th, 2014 10:16 pm
[OP]
Newbie
Feb 6, 2013
1 posts

New To Stocks need some help

Hi I am brand new to stocks

I was wondering how to buy stocks
what is the cheapest option

I bank with rbc
would it be best on fees just to set it up from them?

Thanks
6 replies
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Jan 28, 2012
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lostsoulz wrote:
Feb 12th, 2014 10:41 am
Hi I am brand new to stocks

I was wondering how to buy stocks
what is the cheapest option

I bank with rbc
would it be best on fees just to set it up from them?

Thanks
RBC recently went down to $9.99 per trade which isn't bad, and TD and other banks are following them now.

You can get cheaper ($5) by going to questrade or virtual brokers.
If you don't need a TFSA or RRSP account interactive brokers is even cheaper ($1)


It really depends on how you want to trade. If you think you will try to trade a lot you should probably go with a cheaper option. If you plan to just buy and hold a few stocks then it really doesn't matter.


Since I'm assuming you are relatively new, you probably would be better off investing in ETF's until you have a lot of money. If that's the case you can buy ETF's for free at questrade or virtual brokers. Makes it a lot easier to build up a portfolio because you can buy even 1 share at a time if you want.
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Feb 6, 2014
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St. Johns
Would you advise of opening a TFSA and using those funds towards ETF's?
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RyanS219 wrote:
Feb 12th, 2014 2:10 pm
Would you advise of opening a TFSA and using those funds towards ETF's?
Yes if you don't have any accounts right now a TFSA is a good place to start (or an RRSP, depends on how much money you make, what your retirement plans are, etc).

It really depends on the type of trading you want to do and what your timeframe is for the money though.
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St. Johns
Well I have an RRSP that is relatively small that will be used for HBP in the near future. I plan on opening a TFSA for long-term growth (30+ years) for retirement but I am just starting out with this account and would like to build it up.

My ideal investment would be a passive approach with steady growth (ie. index)
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RyanS219 wrote:
Feb 12th, 2014 2:46 pm
Well I have an RRSP that is relatively small that will be used for HBP in the near future. I plan on opening a TFSA for long-term growth (30+ years) for retirement but I am just starting out with this account and would like to build it up.

My ideal investment would be a passive approach with steady growth (ie. index)
Then yes, TFSA is a great place to start and indexing is probably the best way to go as well. Read the couch potato if you haven't already.

If you want to go with ETF's rather than mutual funds it's probably best to go with a broker that gives you comission free purchases so that you can build up your account over time.

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