Because 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.
|RRSP account Page||Open Questrade RRSP||Open LBDB RRSP||Open Scotia Bank RRSP||Open TD RRSP||Open CIBC RRSP||Open RBC RRSP||Open BMO RRSP|
|Bullion Dealer||Questrade or one of many affiliate dealers (fees and products will vary)||Cache Metals|
|Gold and Silver Certificates|
|Commission on Bullion or Certificate Trades|
|Storage or Safekeeping Fees|
|Commission on basic online equity trade|
|Option to Take Delivery of Physical Bullion|
|Full Review||Questrade Review||LBDB Review||Full Review Coming Soon||Full Review Coming Soon||Full Review Coming Soon||Full Review Coming Soon||Full Review Coming Soon|
|Visit Website||Go to Questrade||Go to LBDB||Go to Scotia Bank||Go to TD||Go to CIBC||Go to RBC||Go to BMO|
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.
Copyright 2015 Gold RRSP - Helping Canadians invest in physical bullion for retirement