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Gold in Your RRSP: Where to Open an Account

goldcoinsbarsforinvestorsBecause there are a plethora of advantages to counting gold among your investments and a multitude of options available to gain exposure to the price of gold, a review of the details is a vital part of choosing where to start. If you want to invest in physical bullion in a registered account, it must be stored in a approved vault. If perhaps you might want to take possession of the metal one day, Questrade is the only brokerage that will store your bullion. Fortunately, Questrade is very competitive overall. If you would like to hold gold certificates in a registered account, there are a handful of brokerages to choose from. ETFs, equity investments in gold companies and mutual funds that focus on gold are investments that are available through many discount brokerages.

The following table reviews the brokerage subsidiaries of Canada’s big banks and the major online discount brokers that service self-directed registered accounts and provide specific investment options linked to gold, gold certificates or gold bullion. The following accounts hold a large variety of securities including GICs, fixed income, equity, ETFs and mutual funds. They are included in this review because they service investments in gold bullion or certificates of ownership.

 logo_questrade_clearLBDB_logo_enscotiatd_waterhouse_logo5_1rbc-logo-2001-presentBank_of_Montreal 2 
RRSP account PageOpen Questrade RRSPOpen LBDB RRSPOpen Scotia Bank RRSPOpen TD RRSPOpen CIBC RRSPOpen RBC RRSPOpen BMO RRSP
Bullion
Bullion DealerQuestrade or one of many affiliate dealers (fees and products will vary) Cache Metals
Gold and Silver Certificates


Commission on Bullion or Certificate Trades
  • bullion: $19.95/trade
  • bullion: $25/trade
  • certificates: 0.25% of trade value (under $100,000) or 0.125% of trade value (over $100,000)
  • minimum: $39.95
  • gold certificate: $25 + $0.60/oz
  • silver certificates: $25 + $0.02/oz
  • certificates: $40 + 0.25% of trade value (under $20,000) or $40 + 0.125% of trade value ($20,000-$100,000) or $40 + 0.105% of trade value (over $100,000)
  • gold certificate: $28.95/trade + $1/oz
  • silver certificate: $28.95/trade + $0.10/oz
  • minimum commission is $43/trade
  • gold certificate: $35 + $1/oz
  • silver certificate: $35 + 0.10/oz
Storage or Safekeeping Fees
  • pooled storage: 0.25% of market value
  • segregated storage: 1.50% of market value
  • gold pooled storage: $0.10/month/oz
  • silver pooled storage: $0.01/month/oz
  • safekeeping gold certificate: $0.0003/oz/day (up to 2000oz)
  • $0.0002/oz/day (2000 oz -10,000 oz)
  • 0.0001/oz/day (over 10,000 oz)
  • safekeeping silver certificate: $0.05/50 oz/month
  • minimum annual fee: $5
  • safekeeping gold certificate: $0.01/month/oz
  • safekeeping silver certificate: $0.001/month/oz
  • safekeeping gold certificate: $0.001091/oz/year
  • safekeeping silver certificate: $0.00012/oz/year
  • no safekeeping fee
  • no safekeeping fee
Minimum Purchase
  • varies with dealer
  • gold: 10 oz
  • silver: 100 oz
  • gold certificate: 10 oz
  • silver certificate: 500 oz
  • gold certificate: 1 oz
  • silver certificate: 10 oz
  • gold certificate: 10 oz
  • silver certificate: 100 oz
  • gold certificate: 5 oz
  • silver certificate: 100 oz
  • gold certificate: 5 oz
  • silver certificate: 50 oz
U.S. funds
Annual Fee
  • None
  • $75
  • waived for accounts over $25,000
  • $100
  • waived for accounts over $25,000 or over 12
  • commissionable trades/year
  • $100
  • waived for accounts over $25,000
  • $100
  • waived for accounts over $25,000
  • $25/quarter
  • waived for accounts over $15,000
  • $100
  • waived for accounts over $25,000
Commission on basic online equity trade
  • $0.01/share
  • (minimum charge is $4.95 and maximum is $9.95)
  • $9.95
  • $24.99
  • $9.99 for accounts over $50,000 or after 30 trades/quarter
  • $4.99 after 150 trades/quarter
  • $9.99
  • $7 after 150 trades/quarter
  • $6.95
  • $9.95
  • $6.95 after 150 trades/quarter
  • $9.95
other fees
  • $19.95/quarter inactivity fee for accounts under $5000 if no trades are made
  • gold is spot price plus 5%
  • silver bars are sold with a $3/oz premium over spot price and silver coins sold at spot price plus $3.75
  • $25/quarter for low activity, waived if balance is over $25,000
  • $30/quarter for U.S. friendly RRSP
  • None
  • $25/quarter for low activity if balance is under $25k
  • $30/quarter for U.S. friendly RRSP
  • None
  • None
Option to Take Delivery of Physical Bullion
Full ReviewQuestrade ReviewLBDB ReviewFull Review Coming SoonFull Review Coming SoonFull Review Coming SoonFull Review Coming SoonFull Review Coming Soon
Visit WebsiteGo to QuestradeGo to LBDBGo to Scotia BankGo to TDGo to CIBCGo to RBCGo to BMO
Questrade Inc. (CNW Group/Questrade Inc.)LBDB_logo_en

Questrade and LBDB the only 2 options for Canadians

As you can see from the table above, Questrade and Laurentian Bank Discount Brokerage are the only 2 full service providers of physical bullion in an RRSP, TFSA and other retirement accounts. Other popular banks only offer certificates which aren’t always redeemable for the real metals. For Canadians that are seeking true diversification and protection against recession, inflation and unstable economic landscape, physical bullion is the way to go and Questrade seems to have the best offering at the moment. Not only does Questrade have the best pricing and lowest premiums, but they also allow you to purchase your coins and bars from a variety of different bullion dealers. LBDB only allows you to purchase from their partner: Caché Metals.

1 Comment on Gold in Your RRSP: Where to Open an Account

  1. Dedicated servers // July 31, 2017 at 7:02 am // Reply

    Furthermore, gold placed in RSP accounts through Laurentian Bank Securities is stored under the most stringent security measures in the vaults of Brinks Canada Limited, one of only 6 entities that are considered suitable to hold LBMA Gold delivery bars by IIROC.

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