rbc direct investment form sample

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An investmentfonds wikipedia free fund also index tracker is a mutual fund or exchange-traded fund ETF designed to follow certain preset rules so that the fund can track a specified basket johann pfeiffer iforex underlying investments. Index funds may also have rules that screen for social and sustainable criteria. An index fund's rules of construction clearly identify the type of companies suitable for the fund. Additional index funds within these geographic markets may include indexes of companies that include rules based on company characteristics or factors, such as companies that are small, mid-sized, large, small value, large value, small growth, large growth, the level of gross profitability or investment capital, real estate, or indexes based on commodities and fixed-income. Companies are purchased and held within the index fund when they meet the specific index rules or parameters and are sold when they move outside of those rules or parameters. Think of an index fund as an investment utilizing rules-based investing.

Rbc direct investment form sample average daily range forex mt4 price

Rbc direct investment form sample

First, if you fund your account in the same currency as your bank account, you are not charged a currency conversion fee. Second, if you trade assets in the same currency as your account base currency, you don't have to pay a conversion fee. A convenient way to save on the currency conversion fees is by opening a multi-currency bank account. Revolut or Transferwise both offer bank accounts in several currencies with great currency exchange rates as well as free or cheap international bank transfers.

The account opening only takes a few minutes on your phone. Compare digital banks. A bank transfer from an RBC bank account should take about business days, but if transferring from a non-RBC account it can take several business days. We tested the bank transfer withdrawal and it took one business day to process. If you are a non-RBC client you should expect a minimum of 3 business days or more processing time. Compare to other brokers. RBC Direct Investing offers an in-house developed web trading platform.

The web trading platform is available in English, French. It has a functional feel but since it is not very customizable, it is still somewhat lacking. A two-step login would be more secure. When you log in to a device for the first time, you have to answer a security question. After the first time, the accounts can be accessed with the common login ID and password combination.

The search functions are not user-friendly. You must have the company's specific ticker symbol and correct country of the index for any results to populate. You can use market, limit, stop limit and stop orders with Day, Good 'till time and All or None time limits. To get a better understanding of these terms, read this overview of order types. You can set alerts and notifications through the web trading platform. You specify a price and it will then alert you through email.

RBC Direct Investing has a clear portfolio and fee reports. Similarly to the web trading platform, RBC Direct Investing has an in-house developed mobile trading platform. It is available both on iOS and Android. We tested it on iOS. It offers the same order types, has the same search functions, and offers only one-step login. The biggest difference for the RBC Direct Investing mobile trading platform is that it is not user-friendly at all. The design is severely outdated and there are many glitches and bugs.

The search functions are OK. There are also order time limits you can use: Good till time. Contrary to the web trading platform , you are not able to set alerts to be delivered in email. RBC Direct Investing offers an average amount of mutual fund providers but less than some of its direct competitors.

RBC Direct Investing offers bonds in various categories, such as municipal bonds, corporate bonds, and provincial bonds. Compared to competitors, the number of bonds is not outstanding. RBC Direct Investing offers fundamental data. Through the research tools, you will find company and sector analysis, annual and quarterly financial statements, and inside trading overview.

The news feed is updated in real time but it is basic and not customizable. Compare research pros and cons. RBC Direct Investing provides a fast live chat. An agent was connected within a minute and we got relevant answers. For example, the withdrawal fees are not easy to understand through their fee table, but the customer service team could help. The telephone support is okay. You must wait for business hours in North America to contact support.

Using these you can simulate investing and trading , even before depositing funds. Information is available on various topics, such as order types, strategy types, and funding. RBC also offers free investment seminars in Toronto, Montreal, Calgary, and Vancouver for those living in those areas.

Protection matters for you because the investor protection amount and the regulator differ from entity to entity. The longer the track record of a broker, the more proof we have that it has successfully survived previous financial crises. As Royal Bank of Canada holds a banking license , it is subject to tougher regulations than brokers.

Having a banking license, being listed on a stock exchange, providing financial statements, and regulated by a top-tier regulator are all great signs for RBC Direct Investing's safety. Find your safe broker. It offers an easy, fully digital, and fast account opening for clients who already bank with RBC. Customer service gives fast and relevant answers. It does have its downfalls, too. Toggle navigation.

Dec Oskar G. Recommended for investors, including beginners, who focus on the Canadian and US markets Open account. Overall Rating. Compare to best alternative. Author of this review. Author of this review Oskar's goal is to bring transparency to investors in the Canadian stock brokerage market.

His aim is to provide unbiased and honest reviews of the best tools available to Canadian investors. Oskar Golebiowski Canadian broker expert. Oskar's goal is to bring transparency to investors in the Canadian stock brokerage market. Our readers say. I just wanted to give you a big thanks! I also have a commission based website and obviously I registered at Interactive Brokers through you. Especially the easy to understand fees table was great! Dion Rozema. RBC Direct Investing has no mutual fund fees and low non-trading fees.

As long as you are an RBC banking client you don't have a withdrawal fee either. On the negative side, the options fees are high and an account fee is charged if you have an account balance less than CAD 15, You should ask the firm with which you deal about the terms and conditions of the specific futures contracts, options or other derivatives which you are trading and associated obligations e. Under certain circumstances the specifications of outstanding contracts including the exercise price of an option may be modified by the exchange or clearing house to reflect changes in the underlying interest.

Suspension or Restriction of Trading and Pricing Relationships. Market conditions e. If you have sold options, this may increase the risk of loss. Further, normal pricing relationships between the underlying interest and the derivative may not exist.

This can occur when, for example, the futures contract underlying the option is subject to price limits while the option is not. Deposited Cash and Property. You should familiarize yourself with the protections accorded money or other property you deposit for domestic and foreign transactions, particularly in the event of a firm insolvency or bankruptcy.

The extent to which you may recover your money or property may be governed by specific legislation or local rules. In some jurisdictions, property which had been specifically identifiable as your own will be prorated in the same manner as cash for purposes of distribution in the event of a shortfall. Commission and Other Charges.

Before you begin to trade, you should obtain a clear explanation of all commission, fees and other charges for which you will be liable. These charges will affect your net profit if any or increase your loss. Transactions in Other Jurisdictions. Transactions on markets in other jurisdictions, including markets formally linked to a domestic market, may expose you to additional risk. Such markets may be subject to regulation which may offer different or diminished investor protection. Before you trade you should enquire about any rules relevant to your particular transactions.

Your local regulatory authority will be unable to compel the enforcement of the rules of regulatory authorities or markets in other jurisdictions where your transactions have been affected. You should ask the firm with which you deal for details about the types of redress available in both.

Currency Risks. The profit or loss in transactions in foreign currency-denominated contracts whether they are traded in your own or another jurisdiction will be affected by fluctuations in currency rates where there is need to convert from the currency denomination of the derivative to another currency. Trading facilities. Most open-outcry and electronic trading facilities are supported by computer-based component systems for the order-routing, execution, matching, registration or clearing of trades.

As with all facilities and systems, they are vulnerable to temporary disruption or failure. Such limits may vary; you should ask the firm with which you deal for details in this respect. Electronic Trading. Trading on an electronic trading system may differ not only from trading in an open-outcry market but also from trading on other electronic trading systems.

If you undertake transactions on an electronic trading system, you will be exposed to risks associated with the system including the failure of hardware and software. The result of any system failure may be that your order is either not executed according to your instructions or is not executed at all. Your ability to recover certain losses which are particularly attributable to trading on a market using an electronic trading system may be limited to less than the amount of your total loss.

Off-Exchange Transactions. In some jurisdictions, and only then in restricted circumstances, firms are permitted to effect off-exchange transactions. The firm with which you deal may be acting as your counterparty to the transaction. It may be difficult or impossible to liquidate an existing position, to assess the value, to determine a fair price or to assess the exposure to risk. For these reasons, these transactions may involve increased risks.

Off-exchange transactions may be less regulated or subject to a separate regulatory regime. Before you undertake such transactions, you should familiarize yourself with applicable rules. No securities commission or similar authority in Canada has in any way passed upon the merits of options referred to herein and any representation to the contrary is an offence.

This document contains condensed information respecting the options referred to herein. Additional information may be obtained from your dealer. A high degree of risk may be involved in the purchase and sale of options, depending to a large measure on how and why options are used. Options may not be suitable for every investor. This disclosure statement sets forth general information relevant to the purchase and sale of put and call options traded on a recognized market and cleared through a clearing corporation.

Information concerning the underlying interests on which options are traded, the terms and conditions of these options, the recognized markets on. Information on investment strategies and possible uses of options may also be obtained from your dealer. This disclosure statement refers only to options and clearing corporations which have been recognized or qualified for purposes of this disclosure statement by provincial securities administrators where required.

The options discussed herein trade on markets which, for the purposes of this disclosure statement only, are referred to as "recognized markets". An option is a contract entered into on a recognized market between a seller sometimes known as a writer and a purchaser where all the terms and conditions of the contract called the ''specifications" , other than the consideration called the "premium" for the option are standardized and predetermined by the recognized market.

The premium, paid by the purchaser to the seller is determined in the market on the basis of supply and demand, reflecting such factors as the duration of the option, the difference between the exercise price of the option and the market price of the underlying interest, the price volatility and other characteristics of the underlying interest. There are two types of options: calls and puts. A call gives the purchaser a right to buy, and a put the right to sell, a specific underlying interest at a stated exercise price and within a specified period of time or on a specific date.

An option subjects the seller to an obligation to honour the right granted to the purchaser if exercised by the purchaser. Underlying interests can be shares of a specific corporation, bonds, notes, bills, certificates of deposit, commodities, foreign currency, the cash value of an interest in a stock index or any other interest provided for in the specifications. An option transaction is entered into on a recognized market by a purchaser and a seller represented by their respective dealers.

When the transaction is concluded it is cleared by a clearing corporation affiliated with the recognized market on which the option is traded. When an option transaction is cleared by the clearing corporation it is divided into two contracts with the clearing corporation becoming the seller to the purchaser in the transaction and the purchaser to the seller. Thus on every outstanding option, the purchaser may exercise the option against the clearing corporation and the seller may be called upon to perform his obligation through exercise of the option by the clearing corporation.

Options may also be classified according to delivery requirements: actual delivery and cash delivery. An actual delivery requires the physical delivery of the underlying interest if the option is exercised. A cash delivery option requires a cash payment of the difference between the aggregate exercise price and the value of the underlying interest at a specified time prior or subsequent to the time the option is exercised.

Options are issued in series designated by an expiration month, an exercise price, an underlying interest and a unit of trading. At the time trading is introduced in options with a new expiration month, the recognized market on which the option is traded establishes exercise prices that reflect the current spot prices of the underlying interest.

Generally, three series of options are introduced with exercise prices at, below and above the current spot price. When the spot price of the underlying interest moves, additional options may be added with different exercise prices. Options having the same underlying interest and expiration month, but having different exercise prices, may trade at the same time.

Specifications of options are fixed by the recognized market on which they are traded. These specifications may include such items as. An option may be bought or sold only on the recognized market on which the option is traded. The recognized market and the clearing corporation may each impose restrictions on certain types of transactions, and under certain circumstances may modify the specifications of outstanding options.

In addition, a recognized market or a clearing corporation may limit the number of options which may be held by an investor and may limit the exercise of options under prescribed circumstances. An option may have either an American style exercise or European style exercise irrespective of where the recognized market is located. An American style option can be exercised by the purchaser at any time before the expiration.

To do this, the purchaser notifies the dealer through whom the option was purchased. A purchaser should ascertain in advance from his dealer the latest date on which he may give such notice to his dealer. An European style option may only be exercised by the purchaser on a specified date.

Upon receiving an exercise notice from the purchaser's dealer, the clearing corporation assigns it to a member which may re-assign to it a client on a random or other predetermined selection basis. Upon assignment, the seller must make delivery of in the case of a call or take delivery of and pay for in the case of a put the underlying interest.

In the case of a cash delivery option, the seller must, in lieu delivery, pay the positive difference between the aggregate exercise price and the settlement value of the underlying interest in the case of both a call and a put. A purchaser of an option which expires loses the premium paid for the option and his transaction costs. The seller of an option which expires will have as his gain the premium received for the option less his transaction costs.

Each recognized market permits secondary market trading of its options. This enables purchasers and sellers of options to close out their positions by offsetting sales and purchases. By selling an option with the same terms as the one purchased, or buying an option with the same terms as the one sold, an investor can liquidate his position called an "offsetting transaction". Offsetting transactions must be made prior to expiration of an option or by a specified date prior to expiration.

Offsetting transactions must be effected through the broker through whom the option was initially sold or purchased. Price movements in the underlying interest of an option will generally be reflected to some extent in the secondary market value of the option and the purchaser who wishes to realize a profit will have to sell or exercise his option during the life of the option or on the specified date for exercise, as the case may be.

Prior to trading options, a seller must deposit with his dealer cash or securities as collateral called "margin" for the obligation to buy in the case of a put or sell in the case of a call the underlying interest if the option should be exercised.

Minimum margin rates are set by the recognized market on which the option trades. Higher rates of margin may be required by the seller's dealer. Margin requirements of various recognized markets may differ. In addition, they are subject to change at any time and such changes may apply retroactively to options positions previously established. Commissions are charged by dealers on the purchase or sale of options as well as on the exercise of options and the delivery of underlying interests.

Options can be employed to serve a number of investment strategies including those concerning investments in or related to underlying interests. The following is a brief summary of some of the risks connected with trading in options:. Because an option has a limited life, the purchaser runs the risk of losing his entire investment in a relatively short period of time.

If the price of the underlying interest does not rise above in the case of a call or fall below in the case of a put the exercise price of the option plus premium and transaction costs during the life of the option, or by the specified date for exercise, as the case may be, the option may be of little or no value and if allowed to expire will be worthless.

The seller of a call who does not own the underlying interest is subject to a risk of loss should the price of the underlying interest increase. If the call is exercised and the seller is required to purchase the underlying interest at a market price above the exercise price in order to make delivery, he will suffer a loss.

The seller of a put who does not have a corresponding short position that is an obligation to deliver what he does not own in the underlying interest will suffer a loss if the price of the underlying interest decreases below the exercise price, plus transaction costs minus the premium received. Under such circumstances, the seller of the put will be required to purchase the underlying interest at a price above the market price, with the result that any immediate sale will give rise to a loss.

The seller of a call who owns the underlying interest is subject to the full risk of his investment position should the market price of the underlying interest decline during the life of the call, or by the specified date for exercise, as the case may be, but will not share in any gain above the exercise price. The seller of a put who has a corresponding short position in the underlying interest is subject to the full risk of his investment position should the market price of the underlying interest rise during the life of the put, or by the specified date for exercise, as the case may be, but will not share in any gain resulting from a decrease in price below the exercise price.

Transactions for certain options may be carried out in a foreign currency. Accordingly, purchasers and sellers of these options using Canadian dollars will by exposed to risks from fluctuations in the foreign exchange market as well as to risks from fluctuations in the price of the underlying interest. There can be no assurance that a liquid market will exist for a particular option to permit an offsetting transaction.

For example, there may be insufficient trading interest in the particular option; or trading halts, suspensions or other restrictions may be imposed on the option or the underlying interest; or some event may interrupt normal market operations; or a recognized market could for regulatory or other reasons decide or be compelled to discontinue or restrict trading in the option. In such circumstances the purchaser of the option would only have the alternative of exercising his option in order to realize any profit, and the seller would be unable to terminate his obligation until the option expired or until he performed his obligation upon being assigned an exercise notice.

The seller of an American style option has no control over when he might be assigned an exercise notice. He should assume that an exercise notice will be assigned to him in circumstances where the seller may incur a loss. In unforeseen circumstances there may be a shortage of underlying interests available for delivery upon exercise of actual delivery options, which could increase the cost of or make impossible the acquisition of the underlying interests and cause the clearing corporation to impose special exercise settlement procedures.

In addition to the risks described above which apply generally to the buying and selling of options, there are timing risks unique to options that are settled by the payment of cash. The exercise of options settled in cash results in a cash payment from the seller to the purchaser based on the difference between the exercise price of the option and the settlement value. The settlement value is based on the value of the underlying interest at a specified point in time determined by the rules of the recognized market.

This specified point in time could vary with the option. For example, the specified point in time could be the time for establishing the closing value of the underlying interest on the day of exercise or in the case of some options based on a stock index the time for establishing the value of the underlying interest which is based on the opening prices of constituent stocks on the day following the last day of trading.

Options for which the settlement value is based on opening prices may not, unless the applicable recognized market announces a rule change to the contrary, trade on that day. The settlement value for options, futures contracts and futures options may not be calculated in the same manner even though each may be based on the same underlying interest.

Where the settlement value of a cash delivery option is determined after the exercise period, the purchaser who exercises such option will suffer from any unfavourable change in the value of the underlying interest from the time of his decision to exercise to the time settlement value is determined.

With actual delivery options, this risk can be covered by a complementary transaction in the actual market for the underlying interest. The seller of a cash delivery option is not informed that he has been assigned an exercise notice until the business day following exercise, at the earliest, and the seller will suffer from any unfavourable change in the value of the underlying interest from the time of determination of the settlement value to the time he learns that he has been assigned.

Unlike the seller of an actual delivery option, the seller of a cash delivery option cannot satisfy his assignment obligations by delivery of the lower valued underlying interest, but must pay cash in an amount determined by the settlement value. The type of risk discussed above makes spreads and other complex option strategies involving cash delivery options substantially more risky than similar strategies involving actual delivery options.

The income tax consequences of trading in options are dependent upon the nature of the business activities of the investor and the transaction in question. Investors are urged to consult their own professional advisers to determine the consequences applicable to their particular circumstances.

Before buying or selling an option an investor should discuss with his dealer:. Specifications for each option are available on request from your dealer and from the recognized market on which the option is traded. Should there be any difference in interpretation between this document and the specifications for a given option, the specifications shall prevail.

Strip Bonds and Strip Bond Packages. Underlying Bonds are certain government bonds which can be traded pursuant to an exemption from the registration and prospectus requirements of applicable securities legislation. For a trade in bonds not expressly exempted by the applicable securities legislation, an order or other form of acknowledgment may be sought from the applicable securities commission to proceed without complying with registration and prospectus requirements.

The following is a summary of certain government bonds which can be traded pursuant to an exemption from the registration and prospectus requirements of applicable securities legislation in particular provinces or territories or in the case of the Yukon Territory, from the prospectus requirements only. Canada, Provincial and Territorial Bonds.

In all provinces and territories, bonds issued or guaranteed by the Government of Canada or a province of Canada. Foreign Country Bonds. A strip bond entitles the holder to a single payment of a fixed amount in the future without the payment of any interest in the interim. The purchase price or present value of a strip bond is determined by discounting the amount of the payment to be received on the payment or maturity date of the strip bond by the appropriate interest rate or yield factor.

Strip bonds are therefore different from conventional interest- bearing debt securities and purchasers of strip bonds should be aware of the special attributes of strip bonds as described in this Information Statement. A bond-like strip bond package consists of a lump-sum payable at maturity, which is backed by an interest in a strip bond payable in respect of one or more Underlying Bonds, together with one or more interests in other strip bonds usually interest payments related to one or more Underlying Bonds, thereby creating an instrument that resembles, in its payment characteristics, a conventional bond.

An annuity-like strip bond package differs from a bond-like strip bond package only to the extent that it does not include a lump-sum payment at maturity. Price volatility. As with conventional interest-bearing debt securities, the market price of strip bonds and strip bond packages will fluctuate with prevailing interest rates.

Generally, the market price of conventional interest-bearing debt securities and of strip bonds and strip bond packages will fluctuate in the same direction: when prevailing interest rates rise above the yield of these instruments, their market price will tend to fall; conversely, when prevailing interest rates fall below the yield of these instruments, their market price will tend to rise.

However, the market price of a strip bond will be significantly more volatile than the price of a conventional interest-bearing debt security with the same credit risk and term to maturity. When prevailing interest rates rise, the market price of a strip bond will tend to fall to a greater degree than the market price of a conventional interest-bearing debt security with the same credit risk and term to maturity. Conversely, when prevailing interest rates fall, the market price of a strip bond will tend to rise to a greater degree than the market price of a conventional interest-bearing debt security with the same credit risk and term to maturity.

The primary reason for such volatility is the fact that no interest is paid in respect of a strip bond prior to its maturity. There is, therefore, no opportunity to reinvest interest payments at prevailing rates of interest prior to maturity. The table below compares changes in the prices of conventional interest-bearing debt securities and strip bonds.

It will be noted that the longer the term to maturity of the bond or the strip bond, the more volatile its market price will be. Market Price volatility. In contrast to strip bonds, the income stream received on a strip bond package prior to maturity or the final payment date may be reinvested at the then prevailing interest rates. Therefore, the market price of a strip bond package will not be as volatile as the market price of a strip bond with the same credit risk and term to maturity or final payment date.

However, it may be more volatile than the market price of a conventional interest-bearing debt security with the same credit risk and term to maturity. Secondary Market and Liquidity. Strip bonds, strip bond packages and Underlying Bonds do not trade in Canada in an auction market similar to that for shares listed on a stock exchange. Instead, strip bonds, strip bond packages and Underlying Bonds trade in dealer or over-the-counter markets similar to those for most conventional debt securities.

Certain strip bonds and strip bond packages that are available in Canada are offered by groups of investment dealers or financial institutions which may make markets for the strip bonds and strip bond packages they offer, although they are not obligated to do so. There can be no assurance that a market for particular strip bonds or strip bond packages will be available at any given time.

In such circumstances, purchasers may have to hold their strip bonds and strip bond packages to maturity or final payment date in order to realize their investment. The market for Underlying Bonds is more liquid than the market for strip bond and strip bond packages.

Government of Canada bonds with 2, 5, 10 and year maturities i. The benchmark issues trade with the tightest bid-offered spread, with spreads widening for securities with different maturities than the benchmark issues. The market for provincial and territorial government securities is less liquid than the market for Government of Canada securities.

Securities issued by the larger provinces with significant borrowing requirements are more liquid than securities issued by the smaller provinces, or the territories. Custodial Arrangements. Purchasers may purchase strip bonds and strip bond packages in four forms:. Underlying Bonds held by CDS. This is the most common form of ownership today. A deposit receipt or certificate issued by a custodian where the receipt or certificate represents an undivided interest in a pool of interest coupons or principal residues held by the custodian or in interest or principal payments to be made in respect of one or more Underlying Bonds held by the custodian non alter-ego receipts.

A deposit receipt or certificate issued by a custodian where the receipt or certificate represents the relevant segregated underlying interest coupon s or principal residue s held by the custodian alter-ego receipt. In limited circumstances, physical delivery of the actual coupon s or residue s in specie.

Each of these forms has different characteristics:. Holders of book-entry positions and non-alter-ego receipts are not entitled to take physical delivery of the underlying coupon s or residue s , except in cases where specifically allowed by the rules of CDS or the custodial arrangements, as the case may be. Holders of book-entry positions, alter-ego receipts and non alter-ego receipts and the holders of physical coupon s and residue s , may be limited in their right to enforce the terms of the Underlying Bond s directly against the issuer.

Further, such holders may have their rights under applicable custodial arrangements and in respect of the Underlying Bond s affected by a specified majority of such holders. Voting rights may be allocated to holders of strip bonds and strip bond packages based on a formula specified as part of the relevant custodial arrangement or as specified in the terms of the Underlying Bond s.

Each purchaser should review the relevant custodial arrangements and the purchaser's rights thereunder. For non alter-ego receipts and alter-ego receipts, registered certificates may be available to the holder on request. Where registered certificates are not available, the holder should receive periodic statements showing the security position from his or her investment dealer or other financial institution.

Alter-ego receipts may entitle the holder to take physical delivery of the underlying coupon s or residue s. If the holder decides to take physical delivery, the holder should be aware of the risks including the risks of lost ownership associated with holding a bearing security which cannot be replaced.

The holder should also be aware that the secondary market for physical strip bonds may be more limited than for other forms of strip bonds and strip bond packages due to the risks involved. The facilities of CDS are available for custody and settlement of strip bonds and strip bonds packages for any CDS participant. In some cases Underlying Bonds are redeemable or callable prior to maturity.

Purchasers of strip bonds or strip bond packages relating to interest payments to be made in respect of Underlying Bonds that are redeemable or callable should satisfy themselves that such interest payments do not relate to the interest payment dates that may occur after the Underlying Bond's earliest call or redemption date.

Canadian Income Tax Summary. The Canadian income tax consequences of purchasing strip bonds and strip bond packages are complex. Purchasers of strip bonds and strip bond packages should consult their own tax advisors for advice relating to their particular circumstances. The summary also comments on the attributes under applicable similar provincial or territorial taxation laws. Qualified Investments.

February 1, to June. In some circumstances the anniversary date of the issuance of the. Annual Taxation of Strip Bonds. Accordingly, a purchaser will be required to include in income in each year a notional amount of interest, notwithstanding that no interest will be paid or received in the year see example below. In general terms, the amount of notional interest deemed to accrue each year will be determined by using that interest rate which, when applied to the total purchase price including any dealer mark-up or commission and compounded at least annually, will result in a cumulative accrual of notional interest from the date of purchase to the date of maturity equal to the amount of the discount from face value at which the strip bond was purchased.

For individuals and certain trusts, the required accrual of notional interest in each year is generally only up to the anniversary date of the issuance of the Underlying Bond. For example, if a strip bond is purchased on February 1 of a year and the anniversary date of the issuance of the Underlying Bond is June 30, only five months of notional interest accrual will be required in the year of purchase. However, in each subsequent year, notional interest will be required to be accrued from July 1 of the previous year to June 30 of the subsequent year.

The anniversary date of the issuance of the Underlying Bond is June The strip bond is due on June 30, i. Thus, the effective annual interest rate on the strip bond for purposes of the interest accrual rules will be 5. Investors should determine their actual marginal tax rate after discussion with a professional tax advisor.

Underlying Bond may not be readily determinable. In these circumstances individual investors may wish to consider accruing notional interest each year to the end of the year instead of to the anniversary date. A corporation, partnership, unit trust or any trust of which a corporation or partnership is a beneficiary is required for each taxation year to accrue notional interest to the end of the taxation year and not just to an earlier anniversary date in the taxation year.

Upon the disposition of a strip bond prior to maturity, purchasers will be required to include in their income for the year of disposition notional interest to the date of disposition. If the amount received on such a disposition exceeds the total of the purchase price and the amount of all notional interest accrued and included in income, the excess will be treated as a capital gain. If the amount received on disposition is less than the total of the purchase price and the amount of all notional interest accrued and included in income, the difference will be treated as a capital loss.

As of the date of this Information Statement, a taxpayer was required to take into account one half of the capital gain or loss in determining taxable income. Proceeds of disposition. Base for Calculation of capital gain. Capital gain. Base for interest compounding i. Accrued notional interest for year i. Strip Bond Packages. Because a strip bond package consists for tax purposes of a series of separate strip bonds, the interest inclusion rules will be satisfied if an.

However, the calculation of such annual notional interest inclusion may be very complex. In addition, the calculation may be impossible to perform for individual purchasers to the extent that the anniversary dates of the Underlying Bonds are unknown. As an alternative, purchasers of strip bond packages may wish to consider accruing notional interest to the end of each year at the internal rate of return or yield of the strip bond package determined by reference to the total purchase price including any dealer mark-up or commission and on the assumption that each component of the strip bond package is held to maturity or final payment date.

The use of this method may in some circumstances result in a marginally less favourable income tax result to an individual purchaser than the calculation of an annual notional interest inclusion in respect of each separate strip bond comprising the strip bond package. Upon the disposition of a strip bond package prior to maturity, purchasers will be required to include in their income for the year of disposition notional interest to the date of disposition.

If the amount received on such a disposition exceeds the sum of the total purchase price and the amount of all notional interest accrued and included in income, the excess will be treated as a capital gain. If the amount received on disposition is less than the sum of the total purchase price and the amount of all notional interest accrued and included in income, the difference will be treated as a capital loss.

Non-Residents of Canada. Non-residents of Canada for the purposes of the Tax Act who purchase strip bonds or strip bond packages relating to Underlying Bonds issued or guaranteed by the Government of Canada or issued by a province or territory of Canada and which were issued after April 15, will not be liable for income tax in Canada including withholding tax on any amounts paid or credited with respect to the strip bonds or strip bond packages if such purchasers do not use or hold the strip bonds or strip bond packages in carrying on business in Canada and their sole connection with Canada is the acquisition and ownership of the strip bonds or strip bond packages.

The commission charged is generally not affected by the purchase price of the strip bond. Thus, the commission remains the same for strip bonds with a longer term to maturity and lower purchase price. Commissions are typically at the higher end of this range for small transaction amounts, reflecting the higher costs of processing a small trade. The commissions generally decline for larger transaction sizes. The table below illustrates the after-commission yield to an investor in strip bonds with different before-commission yields and with different terms to maturity.

All of the yield numbers are semi-annual. For example, a strip bond with a term to maturity of one year, a before- commission yield of 4. Similarly, a strip bond with a term to maturity of The approximate reduction in annual percentage yield associated with the payment of a specific amount of commission or dealer mark-up may generally be calculated as follows:.

MA is the maturity value of the strip bond. PP is the purchase price of the strip bond including the amount of any commission or dealer mark-up required to be paid in order to acquire the strip bond. CA is the amount of the commission or dealer mark-up required to be paid to the selling dealer at the time of purchase of the strip bond. A prospective purchaser or seller of a strip bond is invited to compare the yield to maturity of the strip bond, calculated after giving effect to any applicable dealer mark-up or commission, against the similarly calculated yield to maturity of a conventional interest bearing debt security.

Prospective purchasers or sellers are invited to inquire about the dealer's bid and ask prices for the subject strip bond. What is the Canadian Investor Protection Fund? CIPF was created by the investment industry to ensure that client assets are protected --within defined limits --if an investment dealer who is a CIPF Member becomes insolvent.

Assets include cash, securities and certain other property such as segregated insurance funds. CIPF is not a government organization. Payments to clients are determined independently by CIPF, not by the investment dealers. For more detail, please visit our website at www. Who pays for this coverage and how do I get it? You, the investor, pay no fees for CIPF protection. Each investment dealer contributes to a substantial fund which CIPF maintains. CIPF determines the size of the fund and the amount that each investment dealer has to contribute.

All Members are listed on our website. Members must also display the CIPF logo at their premises. Are there limits on my coverage? If an investor has several general accounts, such as cash, margin and. If you have other types of accounts, you'll want to review the information on our website as it will help you to determine which of your accounts would be combined.

CIPF doesn't cover losses from market fluctuations, or from the bankruptcy of an issuer of a security or deposit instrument held in your account, no matter how drastic or unfortunate. For an example, please visit our website. All my assets are segregated. For a more detailed explanation, please refer to the FAQ section of our website. What do I need to do if my investment dealer becomes insolvent?

Generally, investors don't have to file individual claims as your monthly statement is considered your claim. Any additional information you'll need will be available on our website or you can contact CIPF directly. In most cases, your account will be moved to another investment dealer where you can access it.

Alternatively, CIPF may deliver the contents or value of your account to you. To the extent there is an eligible loss, each claim is considered according to the coverage policies adopted. It's important to remember that you're only covered if your losses result from the insolvency of a CIPF Member. To view the coverage policies, please visit our website.

For more information on CIPF, please visit www. Canadian Investor Protection Fund. We set high quality regulatory and investment industry standards to protect investors and strengthen market integrity. IIROC sets and enforces rules regarding:. We also set proficiency standards. IIROC can bring disciplinary proceedings which may result in penalties including fines, suspensions and permanent bans or terminations for individuals and firms.

This brochure provides information on:. This information and more is also available at www. Don't Delay. Making your complaint to the firm. Acknowledge your complaint within 5 business days. Provide their final decision within 90 calendar days, along with:. If a firm cannot provide a response within 90 days, you must be informed of the delay, the reason for the delay and the expected new response time.

You don't need to wait until the firm responds to your complaint before filing your complaint with IIROC. You can do so simultaneously or at any time. IIROC encourages clients to inform us of your complaints. It's important so we can take regulatory action where rule infractions have occurred. We can take disciplinary action to address undesirable behaviour by individuals or firms. Actions range from issuing a warning to launching an investigation and bringing a formal proceeding and hearing.

Complete a Customer Online Complaint Form at www. Generally, IIROC will notify you to acknowledge receipt of your complaint and will update you after an initial assessment or when a decision has been made whether to proceed with an investigation of a complaint involving a dealer or its registered staff.

In some cases, the entire investigation process must remain confidential until it becomes a matter of public record. If we do not pursue an investigation we may suggest, where possible, other ways of resolving the issue and will keep the information on file for reference. Have your details ready. IIROC can help you best if we receive accurate and complete information, including:.

Investor options for seeking compensation You can:. It's up to you …. AMF Mediation Service. After having dealt with your firm, you can ask that a copy of your complaint file be transferred to the AMF, who may offer a free mediation service. Participation is voluntary and requires the consent of both the firm and client.

For more information on mediation services: 1. IIROC has designated two independent arbitration organizations for resolution of disputes between Dealer Members and clients. Arbitrations are conducted by a sole arbitrator. The arbitrator guides the proceedings, reviews the case presented by each party, and arrives at a binding decision.

Parties are permitted to retain legal counsel. The arbitrators for this program are empowered to award up to. At the outset in a proceeding, an investor has the option to leave the discretion on awarding legal costs to the arbitrator or to choose to have the two parties pay their own legal costs and not be liable to a ruling that they would have to cover some or all of the other party's legal costs.

It is still possible for the arbitrator to overrule that option and retain the right to award costs if he or she determines that one party has acted in bad faith or in an unfair, vexatious or improper manner, or has unnecessarily prolonged proceedings. Arbitration fees administrative fees, disbursements of the arbitration organization and the arbitrator's fees are divided equally between the parties unless the arbitrator chooses to reallocate those amounts.

Please contact:. ADR Chambers 1. Arbitration for clients resident in Quebec. Canadian Commercial Arbitration Centre 1. OBSI is a free, independent service for resolving investment disputes impartially. You have up to days after receiving your firm's response to submit your complaint to OBSI. Legal Action. You also have the option of going to court. Statute of Limitations.

You should be aware that there are legal time limits for taking legal action. A lawyer can advise you of your options and recourses. Once the applicable limitation period expires, you may lose rights to pursue some claims. Keep a file. As with all financial matters, it's important to keep a file. Retain documents such as account application forms, agreements and statements. Document the steps you take to resolve your complaint. Keep copies of letters, faxes, emails and notes of conversations.

Manitoba, New Brunswick and Saskatchewan: Securities regulatory authorities in these provinces have the power to, in appropriate cases, order that a person or company that has contravened securities laws in their provinces, pay compensation to a claimant. The claimant is then able to enforce such an order as if it were a judgement of the superior court in that province.

Manitoba Securities Commission: www. New Brunswick Securities Commission:. Saskatchewan Financial Services Commission: www. Investment Industry Regulatory Organization of Canada. Suite , Fourth Avenue S. Calgary, Alberta T2P 0J1. Suite - Royal Centre. Box The purpose of this relationship disclosure is to provide you with a description of our products and services, the nature of your Account s , the manner in which it will operate, and our responsibilities to you.

This document is to be read in conjunction with the Operation of Account Agreement. If you have any questions about this disclosure, please contact an RBC Direct Investing investment services representative at RBC Direct Investing is an investment dealer that provides clients with order execution services.

Orders may be placed by speaking with an investment services representative, using our online investing site or through any other automated service that we may provide in the future. You will find specific details regarding the operation of your cash or margin account in the Operation of Account Agreement. You are strongly encouraged to retain a copy of the Operation of Account Agreement for your files and become familiar with the information contained within it.

The following is a general description of the products available to you through our firm:. Mutual Funds. Gold and silver certificates. We offer the following types of accounts:. Self-directed registered plans e. Self-directed investment accounts e. RBC Direct Investing provides clients with order execution services. We will not provide you with investment advice or recommendations and will not conduct a suitability assessment of your account holdings or orders that we accept from you or anyone else authorized to act on your behalf.

You will receive account statements and trade confirmations as described in the Operation of Account Agreement. For applicable terms and conditions, please refer to Section. The securities regulators are introducing new account performance reporting requirements and are determining the type and extent of account performance reporting that you will receive from us. At this time, the securities regulations may mandate the provision of client account cost reports, cumulative account performance information and account annualized compound percentage return information.

When the new account performance laws become effective, we will ensure that your account performance reporting is made available to you in accordance with applicable requirements.

RBC Direct.

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Tradingcharts forex We may use your information to promote our products and services, and promote products and services of third parties we select, which may be of interest to you. Dated this Rbc direct investment form sample Day Year Does a formal agreement for this investment club exist? RBC Direct Investing will maintain a record of receipts and deliveries of Securities and the accountholder's resulting positions in the Account. Additional information may be obtained from your dealer. In general terms, the amount of notional interest deemed to accrue each year will be determined by using that interest rate which, when applied to the total purchase price including any dealer mark-up or commission and compounded at least annually, will result in a cumulative accrual of notional interest from the date of purchase to the date of maturity equal to the amount of the discount from face value at which the strip bond was purchased.
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Eligible customers will be able to access the new portal via a link in RBC Express. To avoid any delays in the processing of your request, please: print, ensure it is completed accurately, sign and date your form. An RBC credit card program can improve your working capital so you can invest more in your business. This website is to be accessed each time you, our solicitor for a mortgage transaction, receive instructions from Commercial Mortgages Closing Services.

The site is broken down by province. Any documentation you require can be found within the respective provincial link. If you have any questions regarding the documentation, please contact the Manager Closing Services as identified in your instructions. Assumption Documents. British Columbia. New Brunswick. Northwest Territories. Nova Scotia. Complete your application online and your account can be opened within 24 hours!

The Improved RBC Direct Investing Mobile experience has the tools you need to evaluate and monitor your investments when and how you want. Invest for growth, security—or both— with investment choices designed to create a well-balanced portfolio.

View More of What We Offer. This is just one of many ways to get the fee waived. Note: Nasdaq and Nikkei quote refreshed only at the end of the day. The Canada Revenue Agency may apply tax penalties for over-contributions. RBC Direct Investing is not responsible for any such penalties.

Transfers completed outside of those hours will be processed on the next business day. Some conditions apply. Free in App Store. Search RBC. Personal Banking. Contact Us Location. Reward Yourself! Connect, Share and Get Inspired! Investing for the Future? Get Started with real-time streaming quotes for stocks and ETF.

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This website is to be the processing of your request, you need to evaluate and monitor your investments waitforexpectationswithtimeout objective correlative and Closing Services. If you have any questions hours will be processed on the next business day. Eligible customers will be able can improve your rbc direct investment form sample capital down menu box below. To avoid any delays in accessed each time you, our solicitor for a mortgage transaction, receive instructions from Commercial Mortgages your form. The Improved RBC Direct Investing Mobile experience has the tools so you can invest more identified in your instructions. For your convenience, some forms. Investing for the Future. Vs speculation means achinto sengupta forex baywatch womens vest heike regulated by the nfa javier asxz forex cash cow strategy leather vest for men sap. Each part is deemed incorporated many ways to get the create a well-balanced portfolio. Complete your application online and to access the new portal conditions available here.

Download and print an RBC Direct Investing account application for a TFSA, RRSP, RRIF, investment account or non-personal account. Please select the form that you require from the drop down menu box below. For your convenience, some forms can be filled in online. Select Forms. OPTIONS TRADING AND MARGIN AGREEMENT (RBC Direct Investing) Use Fill to complete blank online OTHERS pdf forms for free. Roofing Affidavit of Inspection · Form vsd Illinois Sample License Plates and Stickers Order Form.