Would you recommend using Passiv to put money into your Questrade RRSP and TFSA?
Asked 4 years ago
I already have money automatically going into my Questrade RRSP and TFSA monthly, However, I just found out that I can use the Passiv software to automate my trading. Is there anyone here who does this?
Andia Rispah Igobwa
Tuesday, August 03, 2021
Passiv invests in "dynamic low-cost ETFs with minimal tracking error." Passiv prioritizes minimizing the day-to-day fluctuations and risks of my portfolio.
It automatically withdraws money each month regularly to avoid late charges or penalties for cashing out early. It also allows for commissions as small as $1 per trade!
If you already have money automatically going into your Questrade RRSP and TFSA monthly, all you need to do is sign up through their website and choose how much money to contribute each month.
Andrew Moran
Tuesday, August 10, 2021
Yes, this would be a great idea for investors who do not possess enough time to keep monitoring their investments.
Passive is fine for your Questrade RRSP and TFSA since it is constantly monitoring your portfolio (allocations and dividends, for example), simple rebalancing, and one-click trading.
Automating your trading is also a great mechanism to prevent yourself from being too emotional over your investments, which can be challenging to do when you're manually buying and selling stocks.
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