# RBC vs TD waterhouse, What broker account you use ?



## inverstmentmentjinja (Nov 25, 2013)

I was in origin with TD water house, it is good broker account but the problem mutual funds prices are little blurry , so I moved to RBC direct investing , which is free for mutual funds (un loaded ones )and no monthly fees when you have more than 15000 there , but it is seem the analysis capabilities are less than TD Waterhouse . 
now I am keeping both because I need the features of both services . 

What do you guys use to manage your investment?


----------



## Uranium101 (Nov 18, 2011)

I have experienced TDW, iTrade, RBC DI, and Questrade.
in the end, I moved everything to RBC DI.

Since Questrade is another animal, I will leave it out for comparison purpose. TDW and iTrade have many analytical tools, analyst reports, earnings estimate, and etc... However, they don't allow the holding of USD in registered accounts. And it's hard to pull off Norbert's gambit at TDW, and I don't think iTrade allow such function. With RBC DI, it's automatic. I don't read analyst reports anymore. I have enough knowledge to do my own analysis, and they have been good so far.
TDW is very expensive. Last time I bought 20k worth of USD stocks, I got dinged with $400+ ForEx. If I done the transaction with RBC DI, the fee incurred will be less than $20, huge difference.


----------



## inverstmentmentjinja (Nov 25, 2013)

@Uranium101: Good you have the same conclusion of mine , TDW seem to be more expensive on the long run and some fees are not clear how they are calculated , there was many side notes and exceptions in their fees document, and the customer support told me if I want to know exactly the fees of any mutual funds (beside the fees of the third party ) you have to call us because I cant reach it by their interface , which make buying mutual funds pain in as* job.


----------



## Uranium101 (Nov 18, 2011)

inverstmentmentjinja said:


> @Uranium101: Good you have the same conclusion of mine , TDW seem to be more expensive on the long run and some fees are not clear how they are calculated , there was many side notes and exceptions in their fees document, and the customer support told me if I want to know exactly the fees of any mutual funds (beside the fees of the third party ) you have to call us because I cant reach it by their interface , which make buying mutual funds pain in as* job.


I would steer clear of mutual funds. I believe 90% of the mutual funds out there are subpar of the S&P500 index.


----------



## OnlyMyOpinion (Sep 1, 2013)

*"TDW is very expensive. Last time I bought 20k worth of USD stocks, I got dinged with $400+ ForEx. If I done the transaction with RBC DI, the fee incurred will be less than $20, huge difference."*
RBC $20 versus TDW over $400? Sorry, don't believe your facts are correct.


----------



## Uranium101 (Nov 18, 2011)

OnlyMyOpinion said:


> *"TDW is very expensive. Last time I bought 20k worth of USD stocks, I got dinged with $400+ ForEx. If I done the transaction with RBC DI, the fee incurred will be less than $20, huge difference."*
> RBC $20 versus TDW over $400? Sorry, don't believe your facts are correct.


Sorry, it's typo, I meant to say $300+.
I believe TDW shows how much commission was charged for each transaction, this transparency is greatly appreciated. TDW charges 1.5% in ForEx for each transaction.
Need I to explain how did the $20 derived from RBC DI?


----------



## GoldStone (Mar 6, 2011)

Uranium101 said:


> However, they don't allow the holding of USD in registered accounts. And it's hard to pull off Norbert's gambit at TDW


The last part is not true. NG is very easy in the registered TDW accounts. You can instantly buy and sell an interlisted stock on two exchanges. No phone call is required. No different from RBC DI or BMO IL.

The only catch is, you have to register the account to enable currency auto-washing. This requires a one-time call before your first NG.


----------



## Uranium101 (Nov 18, 2011)

GoldStone said:


> The last part is not true. NG is very easy in the registered TDW accounts. You can instantly buy and sell an interlisted stock on two exchanges. No phone call is required. No different from RBC DI or BMO IL.
> 
> The only catch is, you have to register the account to enable currency auto-washing. This requires a one-time call before your first NG.


well, back then, there was no auto wash. You had to call everytine.
I belive BMO IL phased out their NG.


----------



## GoldStone (Mar 6, 2011)

Uranium101 said:


> I belive BMO IL phased out their NG.


Not true either. BMO IL is one of the best places to do NG. Both registered and unregistered accounts work great. You can buy and sell in an instant without calling anyone.


----------



## uptoolate (Oct 9, 2011)

I use both - TDDI for myself and kids and RBC for my Mom's accounts. I find TDDI adequate but not happy with the no USD RRSP accounts. At this point I am considering whether to take my children's accounts to RBC as they turn 18 as all of their RRSP holdings will be in USD and I don't see rewarding TD for their continued inability to provide USD RRSP capabilities. Huge embarrassment on a long promised product.


----------



## Electric (Jul 19, 2013)

Is there still a good reason to switch from TD to RBC, given that TD has implemented USD sub accounts?


----------



## larry81 (Nov 22, 2010)

I consolidated all my account at TD and i use TDDI for investing with multiples accounts.


----------

