hide. The main difference between Wealthsimple Trade and other online brokers—aside from the fact that it’s free—is that it’s only available as a mobile app.

})(); Your email address will not be published. If RH comes to Canada that will be a complete game changer. You can follow her on Twitter at, Subscribe to our newsletter and get our updates straight to your inbox, Copyright © 2020 Greedyrates.ca. Wealthsimple Invest offers a digital investment service that includes: On the other hand, if you’d rather be hands-on and prefer to assemble your portfolio yourself using stocks and ETFs, Wealthsimple Trade offers a solution. IF so -- whats it like? The delay in money transfers - the fact you cannot fund from another WS account is annoying.

We have no plans to receive payment for the orders that are submitted on Wealthsimple Trade.

Overview of all the Canadian apartment REITs, How to check your credit score for free in Canada, You only want to trade in Canadian dollars, You aren’t bothered by the minimal customer support, You’re happy trading exclusively on your mobile phone.

This community-run subreddit is for general discussion on the …

Choose an account type – TFSA or non-registered account. Can I buy Vanguard ETF funds? You can do a general stock search via the search engine and start trading with just a few taps on your mobile. What kind of market data do they provide (real-time or delayed quotes)? Posted by 1 year ago. Though I understood that I had to use my phone to use the Wealthsimple Trade app, I assumed I could at least see a basic overview of my Wealthsimple Trade account via my regular Wealthsimple account online.

New comments cannot be posted and votes cannot be cast, More posts from the Wealthsimple_Trade community, Continue browsing in r/Wealthsimple_Trade. Also, you will need to ensure you are not over-trading and can keep your nerves steady when the financial markets suffer a setback.

Because they operate as separate entities, even if you’re already a client of Wealthsimple, you’ll still have to create a Wealthsimple Trade account on your mobile. The ROI of your CPP contributions: is CPP worth it? Gone are the days when investment for most average Canadians was limited to high MER mutual funds, expensive online trading platforms and paying a huge commission to a bank or financial manager. There is no in-depth information about a stock, no analysis tools and no way to set automatic buy or sell trades. My only con is that it takes a while to find the account.

Wealthsimple Trade offers access to trade only U.S. and Canada-listed stocks and ETFs. I’ve been looking for the best broker my friend in Canada can use to trade stock shares and options as well. It takes time, practice, skill, and research. There is just the industry-standard $35 NSF fee, and a 1.5% currency conversion fee. Questrade is the most popular online discount brokerage platform in Canada. Transferring money in seems to take a long time on WealthSimple Trade. Questrade offers a self-directed investor a lot more in investing tools, charts, market analysis, and numbers to play around with. Users can also make an unlimited number of trades, all for the low price of $0. What Credit Card Should You Have at Your Income Level?

Save my name, email, and website in this browser for the next time I comment. For this reason alone, it’s worth giving them serious consideration when choosing a brokerage. Wealthsimple trade? For the vast majority of people, Questrade is still the best option on the market. Conclusion: who should open a Wealthsimple Trade account? @David: Best to call Wealthsimple to confirm the account transfers. I placed 2 orders this morning at 11:00 AM and they are still pending, is this normal … Opening an account with Wealthsimple Trade is surprisingly easy. But don't expect much. Wealthsimple Trade only supports market orders and limit orders. Wealthsimple Trade is the Canadian answer to the popular Robinhood app in the United States. What kind of securities can be traded with Wealthsimple Trade?

On Monday, May 25, when i logged into my account to check on my position and to verify that the change was applied my position was show as N/A. If they follow in Robinhood's footsteps, I'm sure it will come in the next year or so! Press question mark to learn the rest of the keyboard shortcuts, https://tradehelp.wealthsimple.com/hc/en-ca/community/topics/360000587874-Feature-Requests. (function() { Wealthsimple Trade does not offer margin accounts. Enoch Omololu is a personal finance blogger and a veterinarian. Furthermore, if a stock is cross-listed you will only be able to trade the Canadian-listed version. Log in sign up. Your email address will not be published. What happened? listeners: [],

Learn more about Questrade in this Questrade review. Wealthsimple Trade is a bare bones, easy-to-use platform. What accounts does Wealthsimple Trade offer? @Nnamdi: You are welcome. Wealthsimple Trade uses the same encryption technology as other online banks and brokerages. Would you pay a conversion fee since some of the equities are us equities? Solid selection of stocks and ETFs from Canadian and U.S. exchanges, Accounts are protected up to $1,000,000 by the Canadian Investor Protection Fund, No minimum amount needed to start trading. I transferred $2k on April 26th at 10 am and it won’t be available to me in my WS account until 9 am on the 30th.

Im new to using WealthSimple Trade and i have a few question. Traditional brokerages, like Questrade, have another advantage in that you can use a technique called Norbert’s Gambit to avoid currency conversion fees. At the moment, Wealthsimple Trade offers cash accounts, RRSPs and TFSAs.

This is something that investors don’t usually consider, but in some cases can result in a brokerage with $5 commissions being cheaper than a ‘free’ alternative. Advertisers are not responsible for the contents of this site including any editorials or reviews that may appear on this site. In addition to their investment and online brokerage service, Wealthsimple also offers a high-interest savings account. The main difference between Wealthsimple Trade and other online brokers—aside from the fact that it’s free—is that it’s only available as a mobile app.

Posted by Enoch Omololu | Updated Sep 26, 2020. Every day is a good day to cut down your investment fees. This community-run subreddit is for general discussion on the Wealthsimple Trade mobile trading platform. @Jacques: Yes, you can purchase VGRO on Wealthsimple Trade.

This perk, combined with having no minimum deposit requirements, means that it’s really easy to give the platform a try.

The only thing this app has going is free commissions and even that is questionable. Every day is a good day to cut down your investment fees. There are several other important restrictions to consider when you invest with Wealthsimple Trade.

Has anyone used wealthsimple trade yet? For more information on investing in the US with Canadian ETFs, check out this article.

That being said, Wealthsimple is no less secure than your online banking portal since they deal in people’s money and investments, similar to your bank.

{ Globally-diversified portfolios customized to meet your needs. All other providers will have absolutely no use with $10 fees and WS just isn’t complete. This is especially true for investors who want to take a chance picking individual stocks.

I want to no when u sign up they ask for ur social ins number there is no reason for that. Stock NBEV: Questrade shows 5.12$, Wealth shows 5.30$ both viewed at the same moment! You can circumvent this by getting up to date prices on a website like BNN. Here's some of the biggest ones for me. There is no commission so technically that keeps true to their word, and if you stick to trading in the TSX then yeah - Wealthsimple is free and a decent platform for long hold and swing trade positions (I don't recommend for day trading) BUT.... if you are trading in any of the U.S markets - this is where they get you if you don't read the fine print.

With that being said, Wealthsimple Trade has limitations that make it impractical to use for many investors. Download the app (it’s available for iPhone and Android). (RRSP is fine, I guess). Alexander Osipovich, The Wall Street Journal.

This is the only unofficial guide that I am aware of: https://github.com/MarkGalloway/wealthsimple-trade/blob/master/API.md, New comments cannot be posted and votes cannot be cast, More posts from the Wealthsimple_Trade community, Continue browsing in r/Wealthsimple_Trade. window.mc4wp = window.mc4wp || { Found your answer below. Complete Guide To Robo-Advisors in Canada, Wealthsimple Crypto: Buy Bitcoin in Canada, Wealthsimple Black and Wealthsimple Generation Review, Best Automatic Financial Apps To Build Wealth, EQ Bank vs. Tangerine Bank: Choosing Your Online Bank, How To Buy Stocks in Canada: A Complete Guide To Investing in Stocks, VEQT Review: Vanguard All-Equity ETF Portfolio, Questrade Offer Code: $50 in Free Trades or $10,000 Managed Free, Ontario Child Benefit: Your Guide to Ontario’s Child Benefit Programs, Simplii Financial Review: Online Banking Made Easy. Yes, they have 3 business days money hold policy. Do they allow trading of options (even non-margin e.g. If you are comfortable with managing your own investment portfolio, Wealthsimple Trade offers an opportunity to save on fees and maximize your returns. https://github.com/MarkGalloway/wealthsimple-trade/blob/master/API.md. The popularity of fin-tech firms like Wealthsimple is mostly due to their significantly lower management fees (compared to traditional mutual funds) and hassle-free investment offerings. @Alton: You are welcome. It takes FOREVER for money to be available to trade once you initiate a deposit and the stock availability is fairly poor being limited to NYSE, tax and some nadsq.

In fact, many brokerages charge over 2% to convert currencies. Pretty stupid they replied to my comment on insta saying they had no immediate plans for options. Press J to jump to the feed. Has anyone used wealthsimple trade yet? There’s one thing you can say about Wealthsimple Trade: it looks amazing. Wealthsimple trade? Your deposits are CIPF insured up to $1M, which is the industry standard. @Joyce: They are members of CIPF which means that your investments are protected up to $1 million should the financial institution become insolvent. Every day is a good day to cut down your investment fees.