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.
Pricing, Premiums and Commissions: | Pooled Storage: | Segregated Storage: | Delivery Option: | Internet Trading: | Minimum Unit of Gold: | Minimum Unit of Silver: | Minimum Order: | Other Features and Fees: | Full Review: | Visit Website: | |
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Questrade commission ($19.95/trade) included in premium | No | Brinks Canada | Yes | No | 1/4 oz | 10 oz | $1000 minimum purchase | SilverGoldBull has gold and silvers bars on special all the time, at very low premiums over spot. At the time of writing this review, the Valcambi gold bar was at only 4.5% above spot. | Go to Silver Gold Bull Review | https://silvergoldbull.ca | |
Questrade commission ($19.95/trade) included in premium | No | IDS Canada: 1.25% of market value per year | Yes | No | 1 oz | 10 oz | $1000 to open Questrade Account | Go to Guildhall Wealth Review | https://guildhallwealth.com | ||
Questrade commission ($19.95/trade) included in premium plus $20/trade for trades over $2000 | No | IDS Canada: 1% of market value per year | Yes | No | 1 oz | 10 oz | $1000 minimum purchase | Go to Sprott Money Review | https://www.sprottmoney.com | ||
$19.95/trade, trade directly with Questrade | Royal Canadian Mint: 0.25% of market value | IDS Canada: 1.50% of market value per year | Yes: $30 for each 500 oz or $100,000 bullion | No | 1 oz | 25 oz | $1000 to open Questrade Account | Insurance fees: $4 per $1,000 of gold and $7.50 per $1,000 of silver | Go to Kitco Metals Review | https://kitco.com | |
Questrade commission ($19.95/trade) included in premium | No | Brinks, Ontario: 1% of market value per year | Yes | No | 1 oz | 1 oz | $1000 to open Questrade Account | Offer favourable rate to exchange U.S. and Canadian dollars. | Go to Canadian Bullion Services Review | https://canadianbullion.ca | |
Questrade commission ($19.95/trade) included in premium | No | IDS Canada: minimum monthly charge of $25, additional charges will vary | Yes | Yes | 1 oz | 1 oz | $10,000 minimum purchase | Go to Dillon Gage Review | https://dillongage.com | ||
Questrade commission ($19.95/trade) included in premium plus 1% of value of trade | No | IDS Canada: 0.8% per year | Yes | No | 1/2 | 1 oz | Brokerage account minimum balance is $5000 | Insurance fees: $4 per $1,000 of gold and $7.50 per $1,000 of silver | Go to Worldwide Precious Metals Review | https://wwpmc.com |
Copyright 2023 Gold RRSP - Helping Canadians invest in physical bullion for retirement
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