E*TRADE to Enter Crypto World as Market Roiled by Major

Hey Reddit! I'm Brendan Wood, one of the founders of Passiv. We make it easy for you to invest with a model portfolio like CPP, CPM, or whatever you want. Ask Me Anything! I'll be answering questions today from 2pm-5pm EST.

Hey there, I’m Brendan Wood, one of the founders of Passiv.
Our mission is to help normal people manage their own investments and stop paying high MERs to banks. We do this with a web app that makes it easy to invest with a model portfolio in your own brokerage account. We don't hold your money, we don't give advice, and we don't charge absurd fees.
Passiv will help you follow a model portfolio for free by giving you the trade calculations, but you can pay to unlock more advanced features like:
Here's a demo that lets you try Passiv with a paper account, no email required!
Right now we only support Questrade accounts in Canada, but we'll be everywhere by the end of the year.
Backstory
I learned about couch potato investing from our saviour Dan Bortolotti right here on PFC. I had some mutual funds already, so I did some math and realized that not switching would be the single most expensive mistake of my life. So I opened a Questrade account in 2015 and got to work.
In 2016, I got tired of using spreadsheets to do couch potato investing. I found it hard to stay on top of investing new contributions and dividends across a few accounts, and as a software dev I just can't stand manual data entry. I almost moved to Wealthsimple, but figured I'd try one last shot.
I wrote a little Python script to connect to Questrade's API and do my contribution/rebalance calculations automatically (here's the source code). Pretty simple, but it was a breath of fresh air. I told some friends about it, they wanted to try it, so I turned it into a really crappy web app. It sort of snowballed from there into our official product launch right here on PFC two years ago. The feedback and support we got from that AMA is what's driven us to keep building ever since.
What's next?
Canada is a small market for inexpensive software like Passiv. We need to grow in order to keep doing this. Our strongest focus is launching support for more brokerages, especially in the USA and internationally. Stay tuned in October!
We are always building new features too. On our 6-month roadmap we have:
Conversation starters
One thing to keep in mind is that I’m not a financial adviser and so the usual disclaimer applies: anything I say should not be considered financial advice. That said, hit me with your questions and I’ll answer to the best of my knowledge.
submitted by mechengineer to PersonalFinanceCanada [link] [comments]

How-to & FAQ for holding Bitcoin and Ethereum in an RRSP/TFSA

A few months ago I came across a way to hold crypto in my RRSP/TFSA and have been answering questions about how to do that in comments, DM's, and Skype consults. I figured it would be helpful to put together one big comprehensive FAQ. Cryptocurrency is treated as a commodity by the CRA and you must pay capital gains taxes on any profits if held outside a TFSA. If bitcoin goes to $1m as some are predicting, the Canadian government is going to be taxing a huge windfall in capital gains taxes.
BACKGROUND
Bitcoin & other crypto cannot be held directly in a RRSP/TFSA, and there are no eligible ETF's in North America yet. However, the ETN COINXBT which trades on the Stockholm Stock Exchange in Sweden (Nasdaq Stockholm) is eligible.
ABOUT COINXBT
COINXBT holds bitcoin directly and its price per share is based on a 0.005 multiple of the current bitcoin price.
For example, if the current price of bitcoin is $10000USD, a share of COINXBT will be worth $50USD (ie: $493 Swedish Kroner)
Company's website and full prospectus at: https://xbtprovider.com/
Price quote / chart: https://www.bloomberg.com/quote/COINXBT:SS
HOW-TO TRADE
Only some Canadian brokerages allow you to trade on eligible international exchanges in your TFSA. Some do not.
Typically placing trades on international exchanges online is not an option and must be made over the phone broker-assisted at a much higher cost than typical North American securities.
CANADIAN BROKERS
I've called pretty much every brokerage to inquire if international securities can be held in a TFSA and what the fee is to transact. You may want to call yourself to see if policies have changed, but here's a summary:
Not available, or not available in RRSP/TFSA:
FAQ's
Are you sure it's legal? I'm quite sure it's illegal.
Who is your broker? CAD account?
How do I make a trade once I'm ready?
How do I calculate the number of shares to trade to max out my TFSA?
Market or Limit order?
When can I trade? Is it only possible to make the trade while the Swedish market is open and the TSX are open at the same time? Or can you place the order at any time of day?
Which number did you use to contact the brokerages?
What happens when there is a fork?
What about other cryptocurrencies?
How is the price of COINXBT determined?
Why not just buy GBTC?
Why can't I place a trade online myself?
Feedback
If you've managed to get crypto into your RRSP/TFSA in any other ways than listed above please do leave a comment and I'll update the post. Thanks!
submitted by Bastiat to BitcoinCA [link] [comments]

How should I report my online trading income? MUST WATCH Before Joining Questrade!! - YouTube How to Withdraw From Questrade - YouTube HOW TO USE A MARGIN ACCOUNT WITH QUESTRADE - YouTube Questrade  How to Place a Trade: Buying a Stock - YouTube

E*TRADE Financial Corp. is reportedly preparing to enter the cryptocurrency world with plans to allow customers to trade popular coins such as Bitcoin and Ethereum on its platform.The move would If you’re a beginner you can do live trading with a minimum currency lot size of 0.01 and lower margin requirements and because of this Questrade gets a Minimum Trade Score of 4/5. Tradable Assets You can trade on over 70 instruments via their FX & CFD platforms and this includes currency pairs, commodities and indices. The Basics of trade bitcoin questrade Social TradingcanadaIf you decide to trade products offered forex pip comparison by FXCM Australia Pty. If you’re looking to buy Bitcoin with Paypal (or a credit card) solely for trading purposes, please review the broker recommendations above.Their focus remains theHowever, suppose by this time the The only eligible ETN/ETF for a TFSA that tracks the price of Bitcoin is traded on the Stockholm Exchange and Questrade doesn't have access to the Swedish market only US and Canada. If you want to use that money to invest in Bitcoin you'll need to withdraw it from Questrade and either buy Bitcoin directly or open a brokerage account with a Questrade Wealth Management Inc. (QWM) and Questrade, Inc. are members of the Questrade Group of Companies. Questrade Group of Companies means Questrade Financial Group and its affiliates that provide deposit, investment, loan, securities, mortgages and other products or services.

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How should I report my online trading income?

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