Accounts we offer
Open an account that’s best suited to your specific investing needs, or open multiple accounts to broaden your strategy. Whatever you choose, rest assured our low commissions and fees allow you to make the most out of your investment opportunities.
Take advantage of dual currency (USD/CAD) for all accounts!
Keep both U.S. and Canadian dollars in any registered account, and trade in either market without forced currency conversions. The best part is, your U.S. and Canadian currency can easily be managed through one account.
Efficiency and flexibility are key at Virtual Brokers. Our All-in-One Account allows you to trade stocks, options and exchange-traded debentures on margin, and also take short positions, all in one account!
Our margin facility provides you with the option of purchasing eligible securities without necessarily having the funds for the full cost of the investment. This buying power is based on the cumulative loan value of the investments in the account, which in turn is based on each investment's value and quality. It is important to remember that there is a risk associated with purchasing or shorting securities on margin, as fluctuation in market value of securities could lead to losses in excess of the capital invested.
Short privilege allows you to ‘sell’ securities that you do not own. The premise behind this strategy is that you anticipate a decrease in the price of a stock and want to profit by selling the stock short and then buying it back at a later date, at a lower price. This feature is not intended for novice investors, as adverse price movements could lead to theoretically unlimited loss.
Tax-Free Savings Account
The Tax-Free Savings Account (TFSA) is a registered savings account that enables you to earn investment income tax-free, subject to certain conditions and limitations. A US TFSA comes with all the tax advantages of a regular TFSA, but is denominated in US currency. This feature allows you to trade US securities without worrying about fees from forced foreign currency conversions.
Registered Retirement Savings Plan
A Registered Retirement Savings Plan (RRSP) is a registered account that is intended for tax-advantaged savings for retirement. A US RRSP comes with all the tax advantages of a regular RRSP, but is denominated in US currency. This feature allows you to trade US securities without worrying about fees from forced foreign currency conversions.
Registered Education Savings Plan
A Registered Education Savings Plan (RESP) is a registered tax-advantaged savings account for a child’s post-secondary education. Not only will the Government of Canada match up to 20% of your annual contributions, but you can also use it as a vehicle to invest in stocks, bonds, mutual funds, ETFs, and other products.
Registered Retirement Income Fund
A RRIF account allows you to roll over investments from an RRSP, as an RRSP cannot be kept after the age of 71. No contributions can be made to RRIF, and a minimum annual withdrawal, based on age, is required each year. The payments made to you from your RRIF are taxable, but investment gains in a RRIF are tax-deferred until they are withdrawn.
Locked-in RRSP (LIRA)
A LIRA account is designed to hold accumulated pension benefits from a former employer, as government regulations do not permit you to convert your pension into cash. The investments are “locked in,” meaning that unlike a regular RRSP, they cannot be cashed out until a specified retirement age. Another important distinction between regular RRSPs and LIRAs is that once funds have been transferred from a company pension plan to a LIRA, further contributions cannot be made.
Registered Life Income Fund (LIF)
A LIF account is a form of RRIF to which you may transfer your locked-in retirement funds from a LIRA or a registered pension plan, if permitted by the pension legislation governing the locked-in funds. A LIF provides the pension plan member with the flexibility to defer the purchase of a life annuity until the end of the year, or the year in which they turn 80.
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