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Monday, September 13, 2021

I am now (almost) in business with National Bank Direct Brokerage and that's fun fun fun!

Desjardins Online Brokerage is now following National Bank Direct Brokerage lead by offering free trading to their clients. However, between Desjardins Online Brokerage and National Bank Direct Brokerage, I definitively prefer National Bank Direct Brokerage. National Bank is a professional bank, while Desjardins is a big shit show bank. I have to say, I feel at ease with National Bank Direct Brokerage. I want to deal with a brokerage service that knows what they are doing and I get that with National Bank Direct Brokerage.

So far, National Bank didn't disappoint me: opening an account with their brokerage service had been super quick! I proceed with the opening on September 9, and the following day, on September 10, I was receiving an email saying that my broker account with National Bank Direct Brokerage had been opened and that I could access it. I have to say, I already had a small investment with the National Bank, which is the NBI Income Fund that I hold inside my RRSP portfolio. It may have helped to speed up the process. I wasn't able to access my new broker account with the National Bank right away.

To resolve my problem, I call National Bank Direct Brokerage technical support. I was able to reach someone almost immediately. My access problem got resolved quickly and following what I asked to be transferred to a broker because I had a few questions. I had received an alert from Equifax, saying that someone had verified my credit, and I wanted to know if National Bank Direct Brokerage had to check my credit. The answer to that question was yes. For a margin account, they do verify your credit. Following what, I asked if my as is transferred was under progress, and if on their end it was an as is transferred that had been requested - just to make sure - and yes, everything was asked for an as is move. As for the transfer from my old broker to National Bank Direct Brokerage, I need to give them a few more days before it gets done. It should be complete by Thursday.

I had linked my chequing account to my broker account with National Bank Direct Brokerage. When I was talking to one of their brokers earlier today, I was told to send a cheque specimen to their email, which I did. If things continue to run smoothly between me and National Bank Direct Brokerage, I may open a chequing account with National Bank, and a credit card, and oh, a credit line too, please. One thing about me, I like to collect credit lines, credits cards, but best of all, I like to collect stocks.

I really hope that by now, you understand that especially like to collect stocks. And best thing being, since I won't be charged any commissions fees for selling or buying stocks with National Bank Direct Brokerage, you bet that I am going to enjoy it and trade trade trade!

Actually, National Bank Direct Brokerage, is about to see me glow into a DIVIDEND QUEEN

Got to take your fun where you can.


Ben Graham said...

If you are a dividend investor, why are you interested in trading so much? Thanks.

Sunny said...

Its just me being excited.

I actually do trade from time to time. You can read the posts of this year, I wrote about it. For this year, I mostly trade funds associated with crypto. In my TFSA, I currently have, among other:
Bitcoin Fund The Class A units (QBTC)
Purpose Bitcoin ETF CAD ETF non-currency hedged units (BTCC.B)
3iQ CoinShares Ether ETF (ETHQ)

Those are funds that I am looking forward to trade.

I am mostly a dividend investor and I invest for the long run, but I do a bit of trading here and there from time to time.


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