How to duck a hidden fee charged by most online brokers. Plus, tips on using GICs effectively in your portfolio

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How to duck a hidden fee charged by most online brokers. Plus, tips on using GICs effectively in your portfolio
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Pay it, and then ask to be reimbursed by your new brokerage. It’s pretty standard right now for brokers to welcome new clients with an offer to cover $150 to $200 in transfer-out fees charged by their old firm. Some examples of these deals:Qtrade Direct Investing will reimburse transfer-out fees of as much as $150 if you bring $15,000 or more to the firm.

The TD Easy Trade app is offering to cover transfer fees of up to $150 if you bring $25,000 or more in assets.Sparx Trading Transfer-out fees are similarly buried in the commission and fee disclosures at most brokers. Many investors only find out about these costs when they transfer an account to another company and see a $150 debit in their statement.

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