I just mailed my E*Trade application this morning. I applied for their cash optimizer account, a CDN and US trading account and an self-directed RSP account. There is a $100 transfer free from Clearsight but E*Trade will pay that. E*Trade hypes their “Conceirge Transfer Server” but it’s nothing special. In fact besides paying for the transfer fee (for accounts of $25,000 or greater) it really does nothing above and beyond what any other firm would do (like what Clearsight did when I transfered from TD).
As much as I hate to say this, I am looking forward to making some trades. The reason is that I have been pilling away cash into my RRSP for the last while and haven’t bought anything. Time to start reorganizing my portfolio. I won’t be selling and ETFs, that’s for sure (I only have one, XIC) but I’m not afraid to get rid of mutual funds at no expense and switch to some ETFs.
Is the cash optimizer account suitable for use as a high interest savings account. I’m in the market for real estate and need a place to park the downpayment. Do you know whether there’d be any fees if I withdrew it all in a few months time?
Thanks.