Transferring from TFSA to Margin

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Dec 21st, 2019 12:04 pm

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Dec 20th, 2019 7:47 pm

sheepe [OP]: Deal Addict; Aug 22, 2008; 1291 posts; 65 upvotes; Toronto

Dec 20th, 2019 7:47 pm

Transferring from TFSA to Margin

I have a delisted stock in my TFSA account that has book value of ~$5000 on Questrade. I am wondering what my options are in terms of this loss?

If there are any ideas or options, please let me know.

Thanks

3 replies

Dec 20th, 2019 8:27 pm

johnnychi: Sr. Member; Jun 28, 2018; 857 posts; 593 upvotes; Toronto

Dec 20th, 2019 8:27 pm

You can ask Questrade to liquidate it. It's more relevant with non-reg account so you can capture the capital loss. However, it is possible you lose any possibility of recovering anything IF the stock ever re-lists in the future.

https://questrade-support.secure.force. ... securities

Fill out this form: http://media.questrade.com/downloads/ac ... 1576891446

Some investors like myself keep it as a reminder of being an idiot. Blue Scout Technologies SCT (Previously Catch The Wind CTW.S). Bought during the hype over renewables and wind power (2009). Their main product was a wind detector that allows a wind turbine to turn and catch the best wind to increase efficiency. Then everything fell apart. Lost maybe $2.8k, which was a helluva lot for me 10 years ago and still would be an ouch now. Though I did make a tiny bit of money off a wind farm stock getting bought out Canadian Hydro Developers KHD.

The Distracted Investor

Dividends through quality companies

Though I usually lose money with trades

+2

Dec 20th, 2019 8:46 pm

sheepe [OP]: Deal Addict; Aug 22, 2008; 1291 posts; 65 upvotes; Toronto

Dec 20th, 2019 8:46 pm

johnnychi wrote: ↑ You can ask Questrade to liquidate it. It's more relevant with non-reg account so you can capture the capital loss. However, it is possible you lose any possibility of recovering anything IF the stock ever re-lists in the future.

https://questrade-support.secure.force. ... securities

Fill out this form: http://media.questrade.com/downloads/ac ... 1576891446

Some investors like myself keep it as a reminder of being an idiot. Blue Scout Technologies SCT (Previously Catch The Wind CTW.S). Bought during the hype over renewables and wind power (2009). Their main product was a wind detector that allows a wind turbine to turn and catch the best wind to increase efficiency. Then everything fell apart. Lost maybe $2.8k, which was a helluva lot for me 10 years ago and still would be an ouch now. Though I did make a tiny bit of money off a wind farm stock getting bought out Canadian Hydro Developers KHD.

Thank you for the reply.

I understand in a non-reg account I can capture the capital loss. From what you're saying, it might be best for me to keep it since it's worthless at this point anyways, and hope that one day it'll be listed again?

As per keeping it to remind myself I'm an idiot - totally agree that it can be used for that purpose as well lol.

+1

Dec 21st, 2019 12:04 pm

georvu: Deal Fanatic; Feb 4, 2015; 6418 posts; 2815 upvotes; Canada, Eh!!

Dec 21st, 2019 12:04 pm

Have one like that as well... every so often I ask broker to remove... they agree... but it still shows up. Funny thing is that a few years ago it was removed [had not asked] but then came back!!

Like said above... good reminder of bad investment!!

.......
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.

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