Virtual Brokers
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Thread: Virtual Brokers

  1. #1
    Junior Member
    Join Date
    Jul 2016
    Posts
    23

    Virtual Brokers

    Hi guys I am looking for a new brokerage to setup my TFSA and RRSP accounts as well as my regular account and I am hoping to do the CCP couch potato ETF portfolio but to minimize fees. I saw an ad that https://www.virtualbrokers.com/platform-and-data-fees HAS NO COMMISSIONS. Is this too good to be true? Any one here has experience with these guys are there any hidden fees?

    Your thoughts on: XUU 30% / XEC 10% / XEF 15% / VSC 5%/ XIC 40%

  2. #2
    Senior Member
    Join Date
    May 2012
    Location
    Winnipeg, MB, Canada
    Posts
    224
    I had a VB account, but closed it. The GUI is not user-friendly. There are high FX fees. You cannot do Norbert's Gambit with VB. So I switched to Questrade. I would recommend Questrade. you can do almost everything online, including uploading documents, etc. there GUI is very good, and ETF buying is free. If you are doing couch potato, the difference in commissions wont be much at the end of the day, but you would get good service.

    If you are considering buying US ETFs, then you will need to consider saving on FX as high FX fees will kill your returns. all the best. let me know if you have any questions.

  3. #3
    Junior Member
    Join Date
    Jul 2016
    Posts
    23
    Thanks Amitdi, I have an account with cibc already but they have a $130 transfer fee...are there any promotions you're aware of withQT
    Your thoughts on: XUU 30% / XEC 10% / XEF 15% / VSC 5%/ XIC 40%

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  5. #4
    Junior Member
    Join Date
    Nov 2013
    Posts
    6
    Everyone's experience is different. I don't mind the GUI as it is, and they are working on a new one, I've looked through it but haven't explored it. I don't mind that you can't do Norbert's Gambit with them, but maybe some day I'll want to do that and will have to switch up. I do like the free ETF purchases, it's been working well for me these last 5 years. Money goes in every 2 weeks and I buy what lowest on my allocation, pretty easy. YMMV.

  6. #5
    Senior Member
    Join Date
    May 2012
    Location
    Winnipeg, MB, Canada
    Posts
    224
    Quote Originally Posted by mikeyrofl View Post
    Thanks Amitdi, I have an account with cibc already but they have a $130 transfer fee...are there any promotions you're aware of withQT
    wherever you open an account, check with them if they cover the transfer fee. they might want you to bring significant assets for them to cover.


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