Moving from Questrade to Interactive Brokers

Recently I noted in a post that I opened up a new Interactive Brokers account in order to trade options more economically. Here in Canada, we have always lagged our US cousins when it comes to competitive pricing. The volume simply isn’t there for most financial products to be competitive. As a result, we end up paying higher fees for most products and services.

Interactive Brokers (IB) has been on my radar for a while, but when I looked at it years ago, they did not offer tax sheltered accounts such as RRSP and TFSA. That has now changed, as IB offers both types of accounts. However, the minimum amount necessary for opening an account is still the same — a slightly steep US$10,000. If you do not have $10K lying around, but have the funds in other accounts at other brokers, you can transfer them in when opening an account — this is exactly what I did.

Based on some requests from readers, here is the process to open an IB account in Canada while moving funds from another broker (I show how to move from Questrade here, but other brokers will have the same steps).

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Understanding Health Savings Accounts

The following is a 3rd party contirbution
Even with insurance, the cost of healthcare in America can still feel like sustaining another injury, only this time it’s to your wallet. A new type of personal savings account, called a health savings account (HSA) can make it more affordable for certain individuals to pay for medical costs without ruining their budget or bank account. Learn how HSAs work as well as their advantages and disadvantages.


An HSA works much like any other personal savings account, but they’re only available to individuals who have a high-deductible health insurance plan. Even though these insured individuals have high deductibles, their monthly premiums are often low. If you like the idea of getting your up-front healthcare costs as low as possible, a high-deductible plan might be perfect for you. Generally, HSAs are a better fit for those who are near retirement and those in a financial position where they can save for future health care expenses.

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Tax Benefits of trading online in the United Kingdom

The following is a guest post by Justin Smith

Like most countries, traders in the United Kingdom pays various forms of taxes. However, there is a difference in how companies engaged in trade face a different tax as compared to a sole trader. When it comes to tax on profits, sole traders are required to pay class two and four National Insurance and income tax on their taxable business profits. Those in partnerships should pay the same for their share of the benefits. Companies, on the other hand, are required to pay corporation tax on their taxable profits. The companies then subject their employees to paying NICS and PAYE as a way of covering some of the charges incurred. Shareholders of the enterprise pay taxes for their dividends.

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How to Boost Creativity and Increase Productivity When Working on Your Side Hustle

The following is a guest post from Drew Cloud.

Drew Cloud is the founder of the Student Loan Report – a site dedicated to providing our nation’s latest student loan news. Check the site, found at, for new student loan related news, advice, and opinions from experts in the industry.

Have you ever just simply lost the creative juices you had flowing at one point? This is a common occurrence that happens for many people and if you do not know how to re-tap into your creative side, you may be left without a good idea or project.

Below, I will go over some ways to boost your creativity while you working on your side hustle. These should help you feel more motivated and get over that hump that interrupts the flow of things. These are some of the things that I have found to be the most effective when working on my new website, the Student Loan Report.

  1. Go for a Walk

If you feel like you are running into a road block, simply get up from your desk and go for a walk. You should take a stroll outside to get some fresh air and look at nature around you. This will help you clear your mind and increase your mood, allowing you to return to your desk with some new ideas in mind.

When you do go for a walk, try not to think too hard about what you were working on and let your ideas run freely. You will likely spark your curiosity in something and be able to get right back to your creative work.

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