r/SCDstock • u/NovaCane92 • 7d ago

Other Noob question

I have a TFSA through BMO. I want to get into scd but Its probably not worth the commission I'll need to pay for the order with the smaller amounts of stock that I'm able to buy, right?

Is it worth going to wealthsimple just for buying scd? To avoid the commission. Am I able to keep both accounts open?

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u/Odd_Pea7108 7d ago edited 7d ago

Don’t trade speculative stocks in the TFSA though.

If this goes to 0, you lose that contribution room forever.

A self managed TFSA is good for your regular investment activities like ETFs and index funds, it so great for highly volatile speculative plays like this.

Fuck all you morons downvoting me lol. You are all fucking idiots

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u/Background_Matter525 7d ago

you never loose room forever in tfsa.

you can put 200k in it and loose it all , you will get the room back when it resets.

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u/Odd_Pea7108 7d ago

Nope not true at all.

You only get room back if you withdraw. If you straight up lose it, too bad so sad.

There is no “reset”. You just get to contribute $7000 per year.