100 units? That is quite a lot - considering the $200 or so that goes into RESPs, then the GoC grant that goes in after... where I can buy one share with QT and incur no fee.
100 units of many of the best ETFs will be north of $2k. Say your TFSA has $50k invested, with stuff yielding 3% = $1500 a year, $375 a quarter. Assuming you don't have a synthetic DRIP on (or don't want it on)... that's not enough.
Or am I missing something? If you have enough with Questrade that $2k chunks... you should be looking at Interactive Brokers, IMHO.
Good points.
Using your scenario, small amounts are better invested into Questrade. Its the withdrawals that are better at National Bank. To go between the two is free, National Bank will cover the transfer cost (up to $135). So keep buying at Questrade, switch to National for withdrawals.
If you do a large lump sum ($2500+$500) at the start of the year they are equivalent (assuming $3000 buys 100+ shares). However, I think you could sell 100 shares and then buy 120, but that sounds like a PITA.
If you hold cash, currently, they are equivalent. If interest rates rise (needs to be over 5%, currently at 3.20%) then National will pay interest on cash. This sounds promising for the future, its meaningless currently.
If you are located in
Saskatchewan or B.C., National is better as they accept SAGES grants and BCTESG (provincial programs). Alberta and Quebec grants are accepted at both Questrade and National.
You can also have accounts at both, transferring the money at some point. In B.C. keep the large purchased amount at National and then make small monthly purchases at Questrade. Then Move everything over to National for withdrawals later on (when the child enters school).