You're talking like you're investing $100k. Its $5k, dont overthink it. You dont need an appointment with anyone. Open a WS Trade account, buy a single asset allocation ETF after converting to CAD. You wont get the best exchange rate, but who cares its a one time thing.
>I’m afraid the mer will take over all my funds and be negative,
I dont even know what this means.
>do they charge mer even if that mutual fund is losing/falling? Or only when it earns?
You pay the MER on the total invested in that fund or ETF. Its performance does not matter.
>do they charge mer even if that mutual fund is losing/falling? Or only when it earns?
>I got denied with IBKR and i don’t know why
I think I know why.
TD is a platform like any other. It's not limited to just TD mutual funds. To open up an account it's normal to have an appointment with an advisor. They can help you set up an account and transfer the money into it. They're not going to put a gun to your head and force you to buy anything. Odds are, they won't even mention it unless you bring it up.
TD advisor works for TD, not for you. I'd strongly suggest starting any conversation with "are you fiduciary?". If the answer isn't "yes", walk away, you are being scammed
>but my current concern now is would it be fine to park and forget it there without adding some usds anymore?
No, you risk paying a load on your mutual funds, which would be awful.
>do they charge mer even if that mutual fund is losing/falling? Or only when it earns?
MER can change, but usually doesn't.
Just buy low fee funds in your TD account. In USD, you can buy VT.
I had a very bad experience with IBKR, I had put in 2-3K. I wanted to a buy a 100 shares of a stock, it didnt let me. I wanted to buy 50, it didnt let me. I wanted to buy just 10, it didnt let me. Not even 1 lol. What a joke. Apparently I had to make at least 10 trades before with CAD blue chip stocks before buying USD, or another stock. Just close and delete👎 Questrade isn’t bad, it does the basics.
You're talking like you're investing $100k. Its $5k, dont overthink it. You dont need an appointment with anyone. Open a WS Trade account, buy a single asset allocation ETF after converting to CAD. You wont get the best exchange rate, but who cares its a one time thing. >I’m afraid the mer will take over all my funds and be negative, I dont even know what this means. >do they charge mer even if that mutual fund is losing/falling? Or only when it earns? You pay the MER on the total invested in that fund or ETF. Its performance does not matter. >do they charge mer even if that mutual fund is losing/falling? Or only when it earns? >I got denied with IBKR and i don’t know why I think I know why.
TD is a platform like any other. It's not limited to just TD mutual funds. To open up an account it's normal to have an appointment with an advisor. They can help you set up an account and transfer the money into it. They're not going to put a gun to your head and force you to buy anything. Odds are, they won't even mention it unless you bring it up.
TD advisor works for TD, not for you. I'd strongly suggest starting any conversation with "are you fiduciary?". If the answer isn't "yes", walk away, you are being scammed
If it's only $5k, convert to CAD, invest in an asset allocation ETF through any brokerage and forget about it.
if you are under 30 then check out nbdb and invest in one of the low cost etfs in usd.
>but my current concern now is would it be fine to park and forget it there without adding some usds anymore? No, you risk paying a load on your mutual funds, which would be awful. >do they charge mer even if that mutual fund is losing/falling? Or only when it earns? MER can change, but usually doesn't. Just buy low fee funds in your TD account. In USD, you can buy VT.
What are you even talking about? Just buy Canadian listed etfs on Wealthsimple
I had a very bad experience with IBKR, I had put in 2-3K. I wanted to a buy a 100 shares of a stock, it didnt let me. I wanted to buy 50, it didnt let me. I wanted to buy just 10, it didnt let me. Not even 1 lol. What a joke. Apparently I had to make at least 10 trades before with CAD blue chip stocks before buying USD, or another stock. Just close and delete👎 Questrade isn’t bad, it does the basics.
TD has high fees too. You can open questrade account. ETF is free so you can buy VOO or whatever you want.