Where do you park your cash in your brokerage account?

[Jabb]

zero fees for buying or redeeming, no lock, CDIC insured, it is like a savings account.. actually better than Ally where you get your money after 4 business days ... one day to buy ; two days to sell .. can not be bought directly from TD Waterhouse account.. you need to call them for the first buy transaction ... When I need the cash I leave $1 in MIPxxx so I do not need to call them again.

No, trading commissions don't apply to mutual funds. Some mutual funds do incur transaction fees when sold with a discount broker, but not any of these saving account funds.

How would I go about doing this on Questrade?

[shapeshifter]

I bought the mip710 at TDW and confirmed there are no fees..bought it online
every discount broker has their own list that they offer.Td doesnt offer the "BTB100 is 1.30%" for example but RBC does

here are some other funds
TD Waterhouse offers the following fund families for sale.
No Transaction Fee
TD Mutual Funds - Investor Series (TDB)
TD Managed Assets Program (TD MAP)
TD e-Series Funds
plus . . .

Accumulus Funds (ACC)
Acuity Funds Limited (Clean Environment Funds) (CEM)
Aegon Fund Management (IMaxx Funds) (AFM)
AGF Management (AGF)
AIC Group of Funds (AIC)
AIM Funds Management (AIM)
Bank of Montreal Funds (BMO)
Brandes Investment Partners (BIP)
Caldwell Investment Management (CWF)
Capital International Funds (CIF)
CI Mutual Funds (CIG)
CIBC Securities (CIB)
Clarington Capital Management (CCM)
Counsel Mutual Funds (CGF)
Dynamic Mutual Funds (DYN)
Elliott and Page Funds (EPL)
Enervest Funds (ENV)
Ethical Funds (EFI)
Evolution Mutual Funds (EVO)
Excel Fund Management (EXL)
Fidelity Investments (FID)
Franklin Templeton Mutual Funds (TML)
Front Street Capital Funds (TCM)
Goodwood Capital Funds (GWD)
Guardian Mutual Funds (GGF)
Halcyon Fund Mgmt (Hirsch Asset Management) (HIR)
Industrial Alliance (AIL)
ING Mutual Funds (III)
Logix Asset Management (LGX)
Mackenzie Financial (MFC)
Mavrix Fund Management (MAV)
Meritas (SRI)
Middlefield Funds (MID)
National Bank Mutual Funds (NBC)
Northwest Mutual Funds (NWT)
Putnam Investments (PUT)
R Group of Funds (BLC Rothschild) (IRI)
RBC Advisor Funds
Redwood Funds
Renaissance Funds (Atlas) (ATL)
Rockwater Asset Mgmt (Disciplined Leadership Funds) (DLF)
Royal Mutual Funds (RBF)
Sentry Select Funds (NCE)
Sprott Asset Management (SPR)
Standard Life Mutual Funds (SLM)
Talvest Fund Management (TAL)

[SustainablePF]

How would I go about doing this on Questrade?

I'd like to know this too.

[ilusa]

Im with td waterhouse i have been purchasing, while iv been waiting for the market to settle over the next few weeks

Dundee Investment Savings Account 1.20 DYN500

I havent purchased this before, but i was wondering how long it takes to gain access to my $ once selling this, is it like a normal MF, where if i place a sell order this morning, i will only gain access to it tomorrow?

Or will i have access to right away like a stock sale?

[SustainablePF]

How would I go about doing this on Questrade?

http://forums.redflagdeals.com/quest...here-770747/2/

looks like QT doesn't have a vehicle like some of the other brokerages. The down side of the cheapest trades available.

In this thread it does mention you have 3 days to get your money to questrade to settle the trade

[Thalo]

Im with td waterhouse i have been purchasing, while iv been waiting for the market to settle over the next few weeks

Dundee Investment Savings Account 1.20 DYN500

I havent purchased this before, but i was wondering how long it takes to gain access to my $ once selling this, is it like a normal MF, where if i place a sell order this morning, i will only gain access to it tomorrow?

Or will i have access to right away like a stock sale?

In most cases you don't get access to money from mutual fund sales the next day. It's 3 business days settlement for equity funds. HISA funds are 1 bd settlement though, so yes in this case if you do the sale in time before the close (3PM EST) you will have access the next day.

Something to be wary of with settlement dates where these funds are concerned: You can always go from HISA fund to stock or equity fund at the same time as the stock/fund purchase takes 3 days to settle, but going the other way around (selling stock/equity fund and then going to the HISA), if you purchase the transactions at the same time you'll end up putting your account into a deficit for 2 business days because of the difference in settlement times.

[ilusa]

Alright thanks for the reply!!!!

Im holding some $ in this lousy 1.2% hoping my fund takes a lil dive over the next few weeks... Damn thing just keeps shooting up... O well

[SavingMentor]

http://forums.redflagdeals.com/quest...here-770747/2/

looks like QT doesn't have a vehicle like some of the other brokerages. The down side of the cheapest trades available.

In this thread it does mention you have 3 days to get your money to questrade to settle the trade

Post #30 in that thread seems to suggest that it might e possible to buy mutual funds that are akin to high interest savings account for $9.99 per trade and that the commission might even be waivable. Unfortunately, nobody chimed in to confirm that. I'm with QT for my RRSP as well and would really like somewhere to park my cash. I might try buying mutual funds sometime just to see.

[hash76]

Can we buy TD e-Series through Questrade?

+1?

[ACC-Major]

so for these savings account funds, we can buy, then sell, and then buy stocks on the same day?

[Thalo]

so for these savings account funds, we can buy, then sell, and then buy stocks on the same day?

Yes. Brokerages should also consider them "near cash", so that in a SDRSP (where generally you need to have cash available in order to purchase something) it'll allow you to purchase a stock before actually liquidating the savings fund. Because the savings fund is T+1 and stocks/equity mutual funds are T+3 you can wait until T+2 before actually liquidating the savings fund, getting 2 extra days of interest.

I think I mentioned it already, beware of doing this the other way around (selling stock, buying savings fund), as the stock takes T+3. If you buy the savings fund right away you're putting your account into deficit for 2 business days and will incur overdraft interest.

[ACC-Major]

Yes. Brokerages should also consider them "near cash", so that in a SDRSP (where generally you need to have cash available in order to purchase something) it'll allow you to purchase a stock before actually liquidating the savings fund. Because the savings fund is T+1 and stocks/equity mutual funds are T+3 you can wait until T+2 before actually liquidating the savings fund, getting 2 extra days of interest.

I think I mentioned it already, beware of doing this the other way around (selling stock, buying savings fund), as the stock takes T+3. If you buy the savings fund right away you're putting your account into deficit for 2 business days and will incur overdraft interest.

Thanks for the reply, very informative.

Just wondering, if I held these savings funds, then I go about buying some stocks, do I have to put in a sell order for savings funds? or they will automatically liquidate for me? I am using TDW.

[bobaroo]

Thanks for the reply, very informative.

Just wondering, if I held these savings funds, then I go about buying some stocks, do I have to put in a sell order for savings funds? or they will automatically liquidate for me? I am using TDW.

You would have to sell them yourself... auto-liquidate doesn't make sense because you may be holding more than 1 fund, and TDW would have no way of knowing which one you want to sell.

[tsatsa]

I am right to say, in a RSP account if there are cash sitting there. I must first sell my MIP510 before I can put in a buy order on a stock.

[Rhubarbe]

Can we buy TD e-Series through Questrade?

I think so but you'll have to pay 9.95$ per trade to buy mutual funds as usual with questrade.

A quick lookup in myQuestrade shows that : TD Canadian Index - e (MER % 0.31) is available

I think it is a TD' e-Series fund