Questrade: Tax Free Trading Account. Why don't other brokers in Canada have these?
I noticed Questrade has a Tax Free Trading Account.
Is this too good to be true? Why do other brokers not have a "Tax Free Trading Account" where your gains are not taxed and where you can contribute up to 00 per year?
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Actually, the majority of Canadian banks/brokerages do have these. American or foreign companies might not.
What they're offering is really just a Tax Free Savings Account with fairly low fees and a few bells and whistles. TD Waterhouse also offers a TFSA as part of its Discount Brokerage service (i.e. direct trading). There's actually a long list of TFSA Brokerage Accounts here.
The only real difference I see is that Questrade has made up their own acronym to represent the same set of services and features that are offered by almost every other Canadian brokerage firm. In other words, it's marketing.
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