Deposit Broker Comparison Chart? | Site suggestions | Discussion forum

I think their rates are too fluid to keep track of in a chart, i.e. a lot of work for Peter. They can and do change daily, and their best rates are often very short-lived, 2 or 3 days. The last few weeks at GICWealth and Monarch have been exceptional, not the norm.

I think that most of the GIC Agents and Deposit Brokers only serve their local communities as their operations aren't provincial or national.

Peter,
Since the major brokers show their rates on a table on their respective websites, could a script be built on the Forum that would refresh daily to consolidate and display the monitored rates on the Forum's own table?

Stephen

Peter said
This sounds like something that could start as a shared Google doc. I could coordinate an email thread if people are interested, in order to gather a list of people who should have edit permissions. Or if someone else wants to take the reigns on this, people could just PM them directly.  

Yeah, I agree, if we're to do anything here, all we need is a shared Google document, which could be linked from the "Resources" page and even as a footnote on the main "comparison chart" page.

Cheers,
Doug

Peter said

For sure it could be coded. However, that takes time and ongoing upkeep (and also forces all changes to go through one person), and thus I'd have to decide whether I'm willing to step up to that!  

Honestly, I don't think it makes sense for you to do this, especially as their rates are so fluid - much more so than the regular FIs that are on the charts already with possible exception of Motive..

As Stephen pointed out, they only occasionally have better rates than we can get elsewhere, and those rates often disappear in a few days. What is going on with them right now is exceptional, and I don't think it makes sense to change course on that account.

I've only bought one GIC from a broker in the last two years. I might be buying one now but don't immediately have a need for 3 to 5 yrs. If these rates hold a couple of months or more, I might buy, but I doubt they will.

Before a decision is made to put them on a chart, has anyone confirmed that any of them will serve the entire country?

As a test for proof of concept, why not just start a generic thread in the general forum for GIC brokers and the authors/participants could post their updates as they occur. If there is real interest in the subject, then the admin could consider further action. Meanwhile, all the work would fall on the participants. They might grow tired and give up on the idea, too.

Koogie said
........
May I suggest the addition of Scrivens as recently posted by a forum member ? They were unknown to me until that person posted about them......  

The person is pleased to provide the link to Scrivens in Ottawa:

https://www.scrivens.ca/investment-rates

Stephen

The GIC Broker chart is indeed a worthwhile addition to the Forum resources.

I suggest, that to make the broker information even more valuable, that the odd term offerings be added, either as a separate column or as a footnote, because in some cases these odd term offerings are even better than the standard term offerings.

For example, this week, GIC Wealth and Scrivens are both offering 18 months at 3.00% while Scrivens has an additional offering of 30 months at 3.05%.

I would additionally propose adding Scrivens' listings in the broker chart as they frequently have offerings that are different and sometimes better than GIC Wealth and Monarch.

Stephen