Mark Jr. Posted March 3, 2020 Share Posted March 3, 2020 I've been having a hell of a time opening a TFSA (RBC) that operates the same way as my RRSPs (which allow options trading), it seems some banks don't allow this and constrain your investment options to mutual funds, etc. Is here anywhere I can open a TFSA that allows option trading? Link to comment Share on other sites More sharing options...
gokou3 Posted March 3, 2020 Share Posted March 3, 2020 BMO allows it, but it's the simplest strategies like long call or put, covered call, etc. No spreads, naked, etc. Link to comment Share on other sites More sharing options...
rb Posted March 3, 2020 Share Posted March 3, 2020 Questrade will let you do options in TFSA. Same rules as for RRSP. Not sure about IB. Link to comment Share on other sites More sharing options...
Mark Jr. Posted March 4, 2020 Author Share Posted March 4, 2020 Questrade will let you do options in TFSA. Same rules as for RRSP. Not sure about IB. Excellent, thank you. Link to comment Share on other sites More sharing options...
rukawa Posted March 5, 2020 Share Posted March 5, 2020 Questrade will let you do options in TFSA. Same rules as for RRSP. Not sure about IB. IB's website says TFSA Trading Permission No trading on margin - all purchases must be paid in full in respective currencies; No account debit allowed. If needed, currency trade could be executed between USD & CAD. Accounts are restricted to cash balances in CAD and USD. TFSA is allowed to trade the following qualified investments: Stocks listed on designated US and Canadian exchanges (excluding Venture-NEX segment and CSE single listed stocks) Long equity call options Long equity put options Short equity call options with a fully covered position (covered call) Long equity put options with a fully covered position (protective put). Long put/call options on indices. Warrants/Rights if the underlying asset acquired under the right to purchase is a qualified investment. U.S. Bonds. https://www.interactivebrokers.ca/en/index.php?f=13406&p=tfsa Link to comment Share on other sites More sharing options...
obtuse_investor Posted March 6, 2020 Share Posted March 6, 2020 TD allows it too. ••• I wish it didn’t. In May 2009, I bought small bit of Harley Davidson puts in my TFSA thinking it was a false rally since March. Rest of my portfolio was long. No leverage. The puts went to zero in 3 days with no capital losses to show for it. I recently calculated what that cash would have been worth today if it was invested long as rest of my portfolio. The answer: about $50k. Link to comment Share on other sites More sharing options...
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