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Email this1:48 pm
April 6, 2013
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I've never run into any limit at Scotia iTRADE pushing funds out of or pulling funds into my brokerage accounts.
I didn't see any limits mentioned on their iTRADE site.
2:00 am
November 25, 2019
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Similar to Scotia iTRADE and BMO Investor Line, do the brokerages of the other big Canadian Banks (RBC, TD, and CIBC) offer USD GICs? If so, could someone post their interest rates?
5:12 am
March 30, 2017
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dickyran333 said
Similar to Scotia iTRADE and BMO Investor Line, do the brokerages of the other big Canadian Banks (RBC, TD, and CIBC) offer USD GICs? If so, could someone post their interest rates?
CIBC dont, offer US banking yet no US GICs...
6:59 am
April 6, 2013
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The discount brokerages of the banks may not offer US$ GIC's. But, their full service brokerages (RBC Dominion Securities, CIBC Wood Gundy, and BMO Nesbitt Burns) may.
Keep in mind that the full service brokers won't be interested in small accounts, like $20,000. With the customary ¼% per year deposit brokerage commission, the broker and firm will split an insignificant US$50/year for US$20,000 of GIC's.
8:27 pm
April 11, 2020
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Norman1 said
Better US$ GIC rates are available through Scotia iTRADE and BMO InvestorLine:
US$ GIC Issuer 1 yr 2 yr 3 yr 4 yr 5 yr Tangerine Bank
(via Tangerine.ca)4.00% 3.85% 4.75% 4.15% 4.30% Bank of Nova Scotia
(via Scotia iTRADE)4.80% 4.90% 4.95% 5.00% 5.00% Bank of Montreal
(via BMO InvestorLine)4.85% 4.95% 5.00% 5.05% 5.10% Unlike for Canadian Dollar GIC's, Scotia iTRADE and BMO InvestorLine only offer US$ GIC's from one issuer, from their parent bank.
Norman1 said
Better US$ GIC rates are available through Scotia iTRADE and BMO InvestorLine:
US$ GIC Issuer 1 yr 2 yr 3 yr 4 yr 5 yr Tangerine Bank
(via Tangerine.ca)4.00% 3.85% 4.75% 4.15% 4.30% Bank of Nova Scotia
(via Scotia iTRADE)4.80% 4.90% 4.95% 5.00% 5.00% Bank of Montreal
(via BMO InvestorLine)4.85% 4.95% 5.00% 5.05% 5.10% Unlike for Canadian Dollar GIC's, Scotia iTRADE and BMO InvestorLine only offer US$ GIC's from one issuer, from their parent bank.
Hi Norman1,
do you have the recent rates on the BMO Ivnestorline and Scotia itrade USD GIC .
Thank you,
Fritz
8:47 pm
October 27, 2013
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You need to have accounts with those brokerages to buy USD GICs so not sure why knowing the rates should matter? However, rates at iTrade
1 - 4.8%
2 - 4.9%
3 - 4.75%
4/5 - 4.65%
7:40 pm
April 6, 2013
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This includes AltaRed's sample and the rates from my BMO InvestorLine account:
| US$ GIC Issuer | 1 yr | 2 yr | 3 yr | 4 yr | 5 yr |
| Tangerine Bank (via Tangerine.ca) |
4.00% | 3.85% | 4.75% | 4.15% | 4.30% |
| Bank of Nova Scotia (via Scotia iTRADE) |
4.80% | 4.90% | 4.75% | 4.65% | 4.65% |
| Bank of Montreal (via BMO InvestorLine) |
4.85% | 4.95% | 4.85% | 4.80% | 4.80% |
9:31 pm
April 11, 2020
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Thank you both!
5:33 pm
April 6, 2013
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Looks like longer term US$ GIC rates are going down as well:
| US$ GIC Issuer | 1 yr | 2 yr | 3 yr | 4 yr | 5 yr |
| Tangerine Bank (via Tangerine.ca) |
4.00% | 3.85% | 4.75% | 4.15% | 4.30% |
| Bank of Nova Scotia (via Scotia iTRADE) |
4.80% | 4.60% | 4.47% | 4.35% | 4.35% |
| Bank of Montreal (via BMO InvestorLine) |
4.85% | 4.70% | 4.60% | 4.50% | 4.50% |
| Bank of Montreal (via BMO personal banking) |
4.00% | 4.10% | 4.20% | 4.30% | 4.40% |
11:19 am
February 14, 2023
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I see US Tbills 6mo-1 year term @ ~5% which is better credit and liquid
8:52 am
April 6, 2013
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The US$ GIC rates are real and include any commissions. The 5% rate on US treasury bills is not because that rate does not include dealer markup and broker commissions.
Scotia iTRADE does not offer US treasury bills. BMO InvestorLine does and is offering 168-day US Treasury bills for 4.49% and 336-day ones 4.65%.
Don't assume liquidity of bonds, including treasury bills. There's no bond exchange. So, retail investors don't have access to a bond "market" as they do with stocks.
Bonds trade in blocks of $100,000 face value through various networks. If one has several $100,000 blocks of bonds to sell, the broker's bond desk may call around to get a competitive price. Otherwise, one is forced to settle for what the broker's bond desk is offering to buy the bonds for.
9:27 am
November 3, 2022
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Norman1 said
The US$ GIC rates are real and include any commissions. The 5% rate on US treasury bills is not because that rate does not include dealer markup and broker commissions.Scotia iTRADE does not offer US treasury bills. BMO InvestorLine does and is offering 168-day US Treasury bills for 4.49% and 336-day ones 4.65%.
Don't assume liquidity of bonds, including treasury bills. There's no bond exchange. So, retail investors don't have access to a bond "market" as they do with stocks.
Bonds trade in blocks of $100,000 face value through various networks. If one has several $100,000 blocks of bonds to sell, the broker's bond desk may call around to get a competitive price. Otherwise, one is forced to settle for what the broker's bond desk is offering to buy the bonds for.
Plus, if one believes the news, there is a chance that the US Treasury could stop paying off debt obligations some time this summer. I would not want to be holding US T bills if that were to happen!
10:09 am
February 14, 2023
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re Itrade allows US TBill trading, just need to call in.
IBKR commissions for US TBill purchases very reasonable. Min 1k trades.
The US Bond/Bill market one of the most robust liquid markets in the world, is it not?
10:17 am
October 27, 2013
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I think Norman1 was mostly referring to 'sells'. It is easy enough to buy, albeit with commission. Selling is where liquidity becomes a bigger problem.
It might be a service for members here to know your #50 post isn't an apples-to-apples comparison and some qualification of the fine print would be better disclosure.
11:07 am
March 30, 2017
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Norman1 said
Otherwise, one is forced to settle for what the broker's bond desk is offering to buy the bonds for.
+1
Advice to anyone who wants to invest in corporate bonds, only buy IF you plan to hold it to MATURITY. Treat its liquidity as a non redeemable GIC so you wont have nasty surprise.
11:08 am
March 30, 2017
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kesa said
The US Bond/Bill market one of the most robust liquid markets in the world, is it not?
To dealers, YES, to reg Joe like u or me, NO
11:03 am
February 14, 2023
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kesa said
I see US Tbills 6mo-1 year term @ ~5% which is better credit and liquid
executed today, buy aug 31/23 US TBills @5.09%, which I will hold
7:17 am
June 10, 2022
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Hey gang (everyone on this thread),
I'm a little late to this party (discussion) but I am grateful for all your dialogue recorded here. It has been enlightening to read about some of the various high(er) interest USD GIC options. I have two related follow-up questions:
1. Has anyone found a way/place to hold high interest USD GICs in a TFSA? I just looked at a few including Tangerine, and do not think it is an available option.
2. Re: Did anyone here who noticed the favourable rate on 1 year USD GICs at SBI Canada pull the trigger and open one? If so, have you been happy with your decision or any residual regrets?
8:32 am
November 25, 2019
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I opened a couple of 1-year USD GICs at SBI Canada and don't have any regrets. I don't have their chequing and savings accounts though and as such no experience with their online banking. But I guess that should be just fine too.
9:31 am
November 25, 2019
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I don't think any Canadian bank offers USD TFSA GICs. You have to go through a brokerage house such as Scotia iTRADE and BMO InvestorLine.
Another option is to open a TFSA account at IBKR. You earn a decent interest rate, currently 4.58%, if your balance is at least USD 100K. Balances less than USD 100K earn a proportional rate with no interest paid if the balance is below USD 10K.
https://www.interactivebrokers.ca/en/accounts/fees/pricing-interest-rates.php
Just treat it as a USD TFSA savings account. You can add funds anytime (provided you have TFSA contribution room) and withdraw anytime (but then you can't reinvest in the same calendar year). However, I understand that it would be very uncommon to have over USD 100K in an TFSA unless the person has capital gains through stocks or MFs
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