Zero commission stock trading Canada — my goal is to be commission-free in 2022. Here is how I plan to avoid commission fees next year. I am not a licensed investment advisor and this post is not investment advice. This article may contain affiliate links.
I originally planned to keep my investment fees lower than 0.25% in 2022.
However, after having some more time to think about it, my new goal is to be commission-free in 2022.
I want to prove that it’s possible to invest for free for an entire year.
In contrast, if you invested in a mutual fund or with an advisor, you could pay up to 2% annually in fees.
In this article, I will show you my zero commission stock trading Canada plan for 2022, and declare my goal to be commission-free in 2022.
Let’s dive in.
Zero Commission Stock Trading Canada — My Goal To Be Commission Free In 2022
My zero commission stock trading Canada plan for 2022 is fairly simple.
It just involves sticking to a straight forward plan with two brokers.
Here are the two ways I will meet my goal to be commission-free in 2022:
Trade At Wealthsimple
To avoid commission fees in 2022, the bulk of my trades will happen in my zero-commission Wealthsimple account.
I sincerely enjoy using the Wealthsimple app. The only downside is there is limited research and information on stocks. Otherwise, I love Wealthsimple.
All of my Canadian dividend stocks will be purchased in my Wealthsimple account, which will allow me to remain commission-free.
Use Rewards Points To Get Free Trades
The second part of my strategy to remain commission-free in 2022 is to use credit card reward points to get free trades.
I have been utilizing this feature for a while now at RBC Direct Investing, although I did cave and pay commission fees in 2021 a few times.
But not in 2022. Next year I will make sure not to trade unless I can get a free trade with credit card points.
To get a free trade, I need around 1500 reward points. So, I get a free trade every two months or so.
I won’t be able to buy as frequently now. I will have to let cash build up for a few months before trading.
In turn, I hope it will lead to larger investments and better opportunities to take advantage of dips.
Zero Commission Stock Trading Canada — Final Thoughts
In addition to Wealthsimple, another broker that offers zero commission trading in Canada is National Bank.
I haven’t used National Bank’s brokerage yet, so I can’t speak on it. But I am certainly a fan of National bank after their recent dividend income raise.
There is a chance I will transfer one of my TFSAs in kind to another broker this year. If I don’t contribute it to my Wealthsimple account, National Bank would be at the top of my list.
In summary, my goal is to keep my investment fees at zero in 2022.
This will involve keeping the bulk of my trades at Wealthsimple and using credit card points to get free trades at another broker.
Consequently, I will be able to invest more money and generate higher returns in 2022, because fees won’t be picking away at my portfolio like vultures.
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I am not a licensed investment or tax adviser. All opinions are my own. This post may contain advertisements by Monumetric. This post may also contain internal links, affiliate links to BizBudding, Amazon, Bluehost, and Questrade, links to trusted external sites, and links to RTC social media accounts.
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