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Greatest FHSAs in Canada: The place to get the brand new first dwelling financial savings account

Steadily requested questions on FHSAs

The place you’ll be able to open an FHSA proper now

Few establishments presently supply an FHSA; nonetheless, the listing is predicted to develop within the coming months. The MoneySense editorial staff will replace this web page as extra accounts develop into obtainable, so you’ll be able to simply discover the very best FHSA on your wants. 


On April 1, 2023, Questrade grew to become the primary firm to supply an FHSA. Prospects can spend money on the FHSA via a Questrade self-directed account or via Questwealth Portfolios, its robo-advisor platform. You possibly can open a Questrade or Questwealth FHSA at no cost, and there’s no minimal deposit required; nonetheless, in an effort to open the account, prospects will need to have at the least $250 invested with Questrade or $1,000 invested with Questwealth Portfolios.

Good to notice: MoneySense named Questwealth Portfolios the greatest robo-advisor for frugal traders in 2023.


RBC started providing an FHSA via RBC Direct Investing (its on-line brokerage) and RBC InvestEase (its robo-advisor platform) on April 20, 2023. You can too open the account via RBC on-line banking, on the financial institution’s cellular app, or by talking with a monetary advisor at a department. There’s no minimal stability required to open an FHSA.

With RBC InvestEase—MoneySense’s 2023 decide for the very best robo-advisor for traders who like issues easy—funds are mechanically invested as soon as the account stability reaches $100. Prospects are charged an annual administration payment of 0.5% on the funding stability, plus relevant gross sales tax and a administration expense ratio on exchange-traded funds (ETFs).

With RBC Direct Investing, there aren’t any FHSA upkeep charges. Prospects can presently spend money on shares, choices, bonds, ETFs and GICs, and the financial institution is aiming so as to add mutual funds to the listing within the close to future. Account holders are charged $9.95 in fee charges for buying and selling shares and ETFs.

Nationwide Financial institution of Canada

Nationwide Financial institution of Canada launched its FHSA on April 17, 2023. There’s no minimal deposit or minimal stability required to be open an FHSA with the financial institution. Nonetheless, prospects are required to make an appointment with a Nationwide Financial institution advisor—a step that’s not presently required at Questrade and RBC.


Constancy Investments started providing an FHSA on April 19, 2023. Traders can maintain mutual funds and ETFs within the account, however availability of the account is dependant on third-parties.

“Constancy presently supplies eligible traders entry to the FHSA via monetary advisors who supply client-name accounts and eligible on-line buying and selling platforms,” wrote Chris Pepper, vice chairman of company affairs at Constancy, in an electronic mail. “We count on extra middleman monetary establishments (sellers, and so forth.) to supply these merchandise within the coming weeks and months.”



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