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A Comparison of Questrade’s Affiliate Bullion Dealers

Questrade is the only Canadian brokerage that acts as a custodian and dealer of physical gold and silver. They even service these hard  investments in several registered accounts. Questrade acts as a bullion dealer so you can either trade physical gold and silver directly with them and they trade with Kitco Metals or choose one of their affiliate dealers who will trade gold and silver with funds in your brokerage account.

As of 2005, gold and silver coins and bars that meet specific criteria are considered ‘financial instruments’ by Revenue Canada and therefore are qualifying assets for your RRSP and TFSA. Gold must be 99.5% pure and silver must be 99.9% pure. Metals must also be stored at one of seven approved storage facilities in Canada.

Setting up an account with Questrade is simple and can be done online with as little as $1000. You will need your social security number and your bank and employment information. There are no fees to open or transfer your account and they will even cover your old bank’s transfer fees up to $150 when you move at least $25,000 from another brokerage. Questrade makes it easy to regularly fund your account with pre-authorized cash contributions, automatic deposits and dividend reinvestment plans.

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Pricing, Premiums and CommissionsQuestrade commission ($19.95/trade) included in premiumQuestrade commission ($19.95/trade) included in premium plus $20/trade for trades over $2000$19.95/trade, trade directly with QuestradeQuestrade commission ($19.95/trade) included in premiumQuestrade commission ($19.95/trade) included in premiumQuestrade commission ($19.95/trade) included in premiumQuestrade commission ($19.95/trade) included in premium plus 1% of value of trade
Pooled StorageNoNoRoyal Canadian Mint: 0.25% of market value NoNoNoNo
Segregated StorageBrinks CanadaIDS Canada: 1% of market value per yearIDS Canada: 1.50% of market value per yearBrinks, Ontario: 1% of market value per yearIDS Canada: minimum monthly charge of $25, additional charges will varyIDS Canada: 1.25% of market value per yearIDS Canada: 0.8% per year
Delivery OptionYesYesYes: $30 for each 500 oz or $100,000 bullionYesYesYesYes
Internet TradingNoNoNoNoYesNoNo
Minimum Unit of Gold1/4 oz1 oz1 oz1 oz1 oz1 oz1/2
Minimum Unit of Silver10 oz10 oz25 oz1 oz1 oz10 oz1 oz
Minimum Order$1000 minimum purchase$1000 minimum purchase$1000 to open Questrade Account$1000 to open Questrade Account$10,000 minimum purchase$1000 to open Questrade AccountBrokerage account minimum balance is $5000
Other Features and FeesInsurance fees: $4 per $1,000 of gold and $7.50 per $1,000 of silver Offer favourable rate to exchange U.S. and Canadian dollars. Insurance fees: $4 per $1,000 of gold and $7.50 per $1,000 of silver
Full ReviewGo to Silver Gold Bull ReviewGo to Sprott Money ReviewGo to Kitco Metals ReviewGo to Canadian Bullion Services ReviewGo to Dillon Gage ReviewGo to Guildhall Wealth ReviewGo to Worldwide Precious Metals Review
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