Transferring from one brokerage to another
Been reading many posts detailing delays and other issues.
I have suggested they transfer to one of the brokerages I use but do not have experience transferring to them as just simply opened accounts.
For lack of better wording this person can be be demanding and nit picky so looking for best of the worst when it comes to transfers.
Features wanted in transfer process
* Online only account opening
* Transfer online without any paperwork [Qtrade seems to suggest they offer this after opening account (e transfer accounts) but really have no experience/knowledge of this]
* If need to send in account opening forms and/or transfer forms then preferably thru secure upload and not snail mail or regular email
* Quick transfers to/from linked bank accounts [think this tends to lean towards bank brokerages?]
* Secure chat or messaging would be nice to have
* No account admin fees [minimum account value conditions ok]
* Reimburse transfer fees for every account and not just one reimbursement for all of transfers
* Average commission schedule [not many transactions as more hold and buy so don't mind up $10 buy/sell commissions]
* Average customer service [seems good customer service is lacking these days]
Think will suggest that stick with the following brokerages:
IB, iTrade, HSBC are not to be considered.
Appreciate any suggestions or comments/feedback on how bad or well your transfers went.
July 13, 2017 to October 25, 2018: BOC raised rates 5 times and MCAP raised its prime rate next day each time.
2020: BOC dropped rates 3 times and MCAP waited and waited to drop its prime rate to include all 3 drops.