Should I open a TFSA account or a personal account for ETF Trading?

Asked 5 years ago

Hi, I am new to Wealth Simple and need some directions. For ETF trading, should I open a TFSA account or a personal trading account? TIA!

Etf trading Tax-free savings account (tfsa)Personal trading account

Osasere Okunloye

Monday, June 28, 2021

For ETF trading, you should open a TFSA account if you plan on holding the stock long term.TFSA is better for low-income earners and those that will like to hold their stock for the long term. You don't need to pay tax for TFSA account, meaning you can grow income over a period of time.