Tag Archives: quotes

Why You Should Group Your BMO InvestorLine Accounts Under a Single User ID

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If every account you have at InvestorLine has over $500,000 in it, this article doesn’t apply to you. On the other hand, if you have that much money at InvestorLine, why do you even need to read articles on my website? You could stimulate the economy by paying someone else read them for you. For the rest of us, here’s why you should group your BMO InvestorLine accounts under a single User ID.

Like a late night talk show, I’ll list the reasons you should group your accounts in order from least important to most likely to make you nod your head in agreement:

Reason Five: Grouping InvestorLine Accounts Can Help You Manage Your Passwords

While for maximum security you should have a unique sign in password and trading password for each of your InvestorLine accounts, you may find it difficult to remember all of those alphanumeric strings without using string theory. It’s nice to only have to remember one password if  all you want to do is check your portfolios, not change them.

When you sign in using your User ID, you can look at your holdings for each account linked to the id. You can only look at the holdings in one account at a time, however.  You decide which account to look at by clicking on a drop-down list of the linked accounts.

Reason Four: Grouping InvestorLine Accounts Can Save You Time

One Id. One password. Access to all of your account information. Quick. Fast. Simple. Easy.

Reason Three: Grouping InvestorLine Accounts Can Get Your Deeper Kowtows

Why would this one surprise anyone? If you have over $250,000 in your User ID-linked accounts, you can get “exclusive access to a dedicated service team.”

Well, at least between 8 and 8, weekdays, Eastern Time.

I guess that shows Westerners how prejudiced InvestorLine can be. Frankly, it’s a bit bizarre given how many millionaires live west of Ontario.

Reason Two: Grouping InvestorLine Accounts Can Gain You More Information

This one will take a LOT of money.

But, if you can amass a group of accounts with over $250,000 in them, you qualify for Real Time Quotes and Level II Quotes.

From what I’ve been able to find out so far (I don’t qualify for the 5 Star program) it appears these quotes include some information on who is buying or selling and how many lots they are offering or seeking.

One article I read listed about 6 ways large dealers can conceal what they are doing or even deliberately enter buy and sell orders to trick the market. So if information is power, make sure you know who’s got the true data and what they plan to do with that wattage.

If you can combine over $500 000 in accounts, you can also get the Market Streamer and some additional reports and research information.

According to the short summary on the InvestorLine website, the research on offer is “access to BMO Capital Markets research on only the top 60 TSX stocks.”

Perhaps they figure if you already have $500,000 in assets you already know what you want to buy?

The Market Streamer is a tool to “track a virtual portfolio throughout the day.” You can see an image of it on the InvestorLine website. The data should be real-time.

Reason One: Grouping InvestorLine Accounts Under One User ID Can Save You Money

It used to be you needed to group accounts to achieve $50 000 in assets so that you could qualify for $9.95 trades. As of February 2014, though, all accounts of any size now qualify for $9.95 trades. So this incentive is no longer relevant.

Being honest, the $9.95 trades was the best advantage most of us could hope to achieve by grouping only our personal accounts. Getting to $50 000 was quite do-able. I’m not so sure about that $500 000 stuff, unless I get my Mom to shift all her GICs and CSBs to an InvestorLine account. : )

However, if you can get your grouped assets to $250,000, you also get

  • reduced margin rates on non-registered accounts
  • discounts on agent trading costs for some types of assisted transactions
  • reduced annual fees for accounts such as small RRSPs

And if you get up to $500 000, you get

  • even further reduced margin rates
  • even more discounted agent trading costs, and
  • some lower administrative fees for non-trade transactions

(Frankly, I think most people find the Market Streamer described in Reason Two as the only real perk at this level.)

I Guess I Want a User ID; What Now?

So have I convinced you to set up a User ID for your InvestorLine accounts? If so, you can tune in for the next exciting article: How Do I Group InvestorLine Accounts Under One User ID and Whose Accounts Can I Group?

The problem is I haven’t written it yet because I’m still trying to find out the rules about whose accounts can be grouped. After all, maybe I *could* get Mom to move those GICs and CSBs. A girl can dream!

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How to Check the Current Real Time Price for Shares or ETFs at RBC Direct Investing

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UPDATE: This article is historical, from 2013. I no longer invest with RBC Direct Investing.

When I signed up for a RRSP account at RBC Direct Investing I was rewarded with 25 “free” trades. That’s not enough for me to suddenly morph into a day trader, but it may be enough to make me want to try some dollar cost averaging on a “buy the entire index” ETF. (Especially since I expect to add some new money to this account over the next few months as we save it. Some analysts have concluded dollar cost averaging does not have an advantage over investing a whole chunk at once—but it might if you are adding to your savings over time. I’m not sure if their analysis is correct or not. ) Before I buy any shares or ETFs at RBC Direct Investing, however, I want to know what the current real time price is.

To Check the Price for Shares in a RBC Direct Investing Account

  1. Sign in to your RBC Direct Investing account.
  2. Go to RBC Direct Investing at http://rbcdirectinvesting.com/
  3. If Direct Investing is shown in the drop down list of Online Services, click on the Sign In button.
  4. To sign in to your account/s:
    1. In the Client Card Number: field, type your card number.
    2. In the Password: field, type your account password.
    3. Click on the Sign in button.

How NOT To Get the Real Time Quote

  1. From the tabs listed across the top of the screen, click on the Trade tab.
  2. In the small Quotes & Research box on the right side of the screen, in the Enter Symbol or Name field, type the ticker symbol for the stock or ETF you are interested in.
    For example, for the Bank of Nova Scotia (to see how much it has dropped so far today; I own some so you know it will therefore plummet often) I typed: BNS
  3. Select which country you are checking the price in by clicking to select the radio button beside the Canadian flag or the American flag.
  4. Click on the Get Quote button.

Rats. This is the 20-minute delayed quote. It does provide all the research and charts for review, however.

OK, starting again to get the Real Time quote.

To Really Get the Real Time Quote

  1. Click on the Trade tab.
  2. In the large Place Order block, in the Symbol: field type the ticker symbol for the stock or ETF you are interested in.
  3. From the Market: drop-down list, select Cdn or US.
  4. Click on the Show Quote button.
  5. The real time information is displayed in a narrow bar above the top of the Place Order block.
    The information provided includes:

    • The name of the company. That’s important to check so you don’t accidentally buy shares of a Tweeter Home Electronics TWTRQ instead of Twitter TWTR.
    • The date and time in hours and minutes of the quote.
    • The Last Price.
    • The Change to the nearest cent.
    • The Bid/ Size.
    • The Ask/Size.
    • The High.
    • The Low.
    • The Volume.

The Size of the Bid and Ask appears to be the number of lots at that price. Excuse me for a minute while I check on BMO InvestorLine. Yes, it is.

You have to click on the Refresh Quote button each time you want to see the current price. For an actively traded stock like BNS, the price can change several times a minute.

To Check the Real Time Price of an ETF

Next I checked the price for an ETF. From the Canadian Couch Potato’s Global Couch Potato model portfolio, I decided to look up the BMO S&P TSX Capped Composite ETF, ZCN.

  1. So, in the Symbol: field, I typed: ZCN
  2. From the Market: drop-down list, I selected: Cdn
  3. I clicked on the Show Quote button.
  4. Up popped the line listing the current price (17.89) and the fact it’s up 0.08 today. (I always buy high and sell low, consequently losing thousands of dollars, so this is no surprise to me.)
  5. If you’re done, click on the Sign Out button.
  6. For increased security, clear your browser cache and close your browser session.

That’s it. It’s that easy to check the real time prices for stocks and ETFs.

Does a Regular RBC Direct Investing Account Provide Streaming Quotes?

No. With a regular RBC Direct Investing account like mine you cannot get streaming quotes that automatically change to show you the most current price for a stock or ETF.

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How do you check real time stock prices? Do you even look at the current price before you place an order? Have you seen any Snowy Owls this winter? Please share your views with a comment.