Both Wealthsimple and RBC InvestEase provide automated investing, customized portfolios, free financial advice, automatic deposits (pre-authorized … Definitely lack the features of TD/Questrade etc but I haven't had any major issues. So if you buy 1000 in stocks itll be $15 each way. I’ve recently started using Wealthsimple trade which is DIY. They're simple, easy to use, great for beginners. Discussion would be geared around any investment opportunities a Canadian has access to. If you want to get your hands dirty and pick your own ETFs and stocks - go for WS Trade. We have already extensively looked at the Wealthsimple Trade platform so let us first start with Questrade and how does it compare to the features of Wealthsimple Trade. No referral or Not so easy when the market is violently trashing around. Wealthsimple is the most popular robo-advisor in Canada (similar to Betterment in the United States). Can't say anything about their customer service, as I've never had to contact them. RBC InvestEase vs. Wealthsimple. Today it became available for everyone. The quotes aren’t live so I check tmx or yahoo finance for the live quote before putting in my order. Wealthsimple Trade … Trading Fees. To assess Wealthsimple properly, another alternative needs to be thrown into the mix. Where did you read the info about day trading? ... those who wish to invest for long term and not just trade hoping for quick profits. We believe you should get good value for the fees you pay. Doing trades myself is a whole other ballgame, you need to have a plan, and decide when to trade and diligently follow your plan. I have no complaints, the money went up and all I had to do was deposit it. It resynced and my correct non-Trade WS accounts appeared in my non-Trade WS account. hide. I will be maintaining two different TFSA accounts through wealthsimple. I've seen a few people looking for access to Wealthsimple Trade recently. Archived. If you’re looking to buy and hold stocks for a longer period, it’s ideal for you. If it doesn't work, please get in touch so we can investigate for your account specifically. If you want to have a platform that does everything for you - go for WS Invest. However, it is not just the free stock trades that makes this platform attractive. A robo-advisor is an online investment tool that automatically invests in the stock market for you. Posted by 8 months ago. When you invest with Wealthsimple, your assets are held in an account with Wealthsimple’s affiliated custodial broker, Canadian ShareOwner Investments Inc. (ShareOwner). Investors will also get a portfolio built using low-cost, diversified ETFs irrespective of the company they choose. In this video I review Wealthsimple Invest & share my portfolio performance. I don't like the fact there is no way to calculate how much div or a market price tracker. That's ludicrous. Wealthsimple proper's CAD <–> USD forex rate is 0.2% IIRC. Then I use questrade for all my USD. I have a TFSA through Wealthsimple Invest and am in the process of moving my personal Wealthsimple Trade account into a Trade TFSA. I honestly prefer buying vanguard etf with lowest mer like VFV and VGRO (for an example) over wealthsimple. One exception to this is when you make a USD trade, you pay a 1.50% currency conversion fee … Before we jump into it, I want to mention that I am personally a customer of both Questrade and Wealthsimple. report. This way you only convert the currency one time. I compare the pricing with the live quotes from TMX or TD. Both are good platforms in my opinion, for different purposes. Wealthsimple Invest TFSA vs Questwealth Portfolio TFSA. How does this compare to other brokers out there? The individual stocks held inside ETFs don't have fees. The reality the exchange rate loss compounds and was a loss of 3.24% in this example. I’ve recently started using Wealthsimple trade which is DIY. 1. However, you will pay a 0.5% MER (to WealthSimple) if you use the WealthSimple Invest service. WS Trade is not a full service discount broker, so do consider what features are missing and you may or may not want down the road. I tried out wealthsimple trade for about two weeks but as mentioned in other posts I got frustrated with the 15 min delays, and my orders not being executed when there was high volume. Within a few days, though, it became clear that these accounts were not insured by the Securiti… Wealthsimple Invest vs Wealthsimple Trade - Which one is better for you to start investing today (Comparison). I had BMO InvestorLine and switched everything over to WS. Wealthsimple Crypto is made available through the Wealthsimple Trade app, but is offered by Wealthsimple Digital Assets Inc., a virtual currency dealer money services business authorized by FINTRAC. Wealthsimple has lowest MER compared to big banks which is great but their customer service sucks like an ass. Wealthsimple Crypto is currently not registered as a securities adviser or securities dealer. Wealthsimple Trade offers 0 commission trades and allows you full control to buy stocks and ETFs without worrying about being charged trading fees. share. I would have expected a gain of $100 can but ended up with $67.24 so that is why I said the loss was higher. After my two week stint with WS trade I’ve decided to move all of my funds to invest as I just want to put in my monthly funds and not think about them for the time being. Subject to … Depends what you want, they are very different. Best of luck on whatever you decide!!! You’ll notice the Questwealth portfolios don’t add up to 100%, they only add up to 98%. Close. Why wouldn't they allow day trading, especially on a taxable account? The First Loss (~10k): I am technically a millennial with an IT background who started investing around 2007. If I was going to use WST I would have done it for day trading purposes, just making a few bucks here and there. Press question mark to learn the rest of the keyboard shortcuts. I made a quick trade on NMX at $0.30. ^ exact same for me, I've been pretty happy with both trade and invest. I use wealth trade but I wonder why it take a good 5-10 seconds for a buy order to be completed where as TD is less than a second. Wealthsimple vs Wealthsimple trade. If it’s the latter, I’d still recommend sticking with WS Trade but learning about long term strategies you can apply yourself. At Wealthsimple Invest, you pay 0.5% on $0-$100k and 0.4% for amounts over $100k. Wealthsimple Invest has a fee of 0.5% but you can fully automate your regular contributions. Watch out people. Knowing that it's actively discouraged and everything is delayed by 15 makes me in no further hurry to try it. As a result, your accounts are protected by … Wealthsimple review: Pros and cons. Wealthsimple and Acorns are both built for passive, long-term, buy-and-hold, set-and-forget investing, allowing everything to happen automatically. Hands off or hands on. You can try to resend or fix credentials or delete and re-add the account that is showing the wrong info. If you want to compare the holdings of the Wealthsimple vs Questwealth portfolios directly, here is how they stack up. This is the option I started with when I started investing. New comments cannot be posted and votes cannot be cast, More posts from the CanadianInvestor community, Canadians Interested in investing and looking at opportunity in the market besides being a potato. For beginners, are you suggesting to used wealthsimple trade or wealthsimple invest for long term? It saves $10 a trade so I've been playing around with it for many 1-10 unit transactions haha. Do keep in mind the conversion fees that WS Trade charges when buying forex stocks/ETFs. 1. I've seen a few people looking for access to Wealthsimple Trade recently. We've been in business since 2014, and have over $3 billion in assets under management. You get to choose the risk level, and they do everything else. This makes it more suitable for seasoned traders or those looking to expand their trading experience beyond the scope of equities. Edited currency fee 5% to 3% - however say you buy $1000 of cdn into us you get $985 USD and your stock goes up 10% = gain of $98.50 this is a total of $1083.50 USD converted back to cdn with 1.5% fee = $1067.24 cdn. --> START HERE … Our Trade and Save products are offered by Canadian ShareOwner Investments Inc. (ShareOwner), a registered investment dealer in each province and territory of Canada. Some clients of Wealthsimple for Advisors have accounts with Wealthsimple … Wealthsimple vs Questwealth portfolios holdings breakdown. Assets in your Invest and W4W accounts are held with ShareOwner. Now, I'm not. Our Invest and Smart Savings products are offered by Wealthsimple Inc., a registered portfolio manager in each province and territory of Canada. * QUESTRADE: Best Canadian Broker in my opinion to trade US stocks. I don't suggest doing any US trading with wealth trade due to 3% loss on currency fees, but open a US denominated TFSA, RRSP, Cash, etc. You don’t need any investment knowledge, all you need to do is deposit money into your account and Wealthsimple will invest it on your behalf, based on your risk tolerance and financial goals. I guess it's true that you get what you pay for. I use Wealthsimple trade to hand pick stocks and ETF’s from the TSX. Wealthsimple Trade has no fees for buying and selling stocks and ETFs. Im sorry but where, does it say anything about day trading and them closing the acct. I used wealth simple (WS) for 3 months then quit. They are going to burn so many people on FX. Get a $50 cash bonus when you sign up to Wealthsimple Invest. WS Invest is great for guys like me that have admittedly bad self control. That’s right, $0, and a first in Canada. I’ll probably consider WS Trade again if it ever comes out with a desktop version. Along with this comes research if you wish to be as successful (hopefully more) as a roboadvisor. Cryptocurrencies purchased and held in an account with Wealthsimple Crypto are not protected by … But questrade sucks. Log In Sign Up. We allow you to put your money in a managed portfolio (Wealthsimple Invest), do self-directed trading (Wealthsimple Trade) or put your money in a high-interest hybrid savings/chequing account (Wealthsimple Cash). Wealthsimple Trade Vs Wealthsimple invest. Instant buy and sell times which is good. Press question mark to learn the rest of the keyboard shortcuts. Questrade offers stocks, ETFs, options, bonds, mutual funds and more. r/Wealthsimple_Trade: The unofficial subreddit for general discussion on the Wealthsimple Trade investing platform. I enjoyed my time with the Invest product. I started with Wealthsimple Invest. No penny stocks, no day trading and no real-time quotes. Hey everyone! I was wondering how many of you have a positive experience with Wealthsimple (Robo manages portfolio) 23 comments. Questions regarding individual companies, ETFs, Tax implications, Index Investing, and more... When you sign-up using our exclusive Wealthsimple Trade referral link, you get a $35 cash bonus after depositing and trading just $100 in stocks. Just my counter point on customer service - they’ve been pretty solid and responsive in the year and a half I’ve been using WS invest. Close. 1. Can anyone help me understand the difference between the Wealthsimple trade RRSP Vs Wealthsimple invest RRSP, especially when it comes to tax returns? The main difference between Questrade and Wealthsimple Trade boils down to what types of investments you can dabble in. They even threw in a $10k managed free bonus because they missed some random fees that were supposed to be rebated. Does the contribution tracker on Wealthsimple Invest also take into consideration the contributions you make in the Trade app when calculating your contribution room or do I need to track … Wealthsimple Invest Review: Simple Investing on Auto-Pilot; An honest Questrade vs Wealthsimple Trade comparison. Watch out they charge a 1.5% forex fee for every trade if you are buying foreign stocks since they don't have USD accounts. $50 to submit reorg instructions No pre market or after hours trading No Investment Representatives to take trades Only stocks with average daily volume of 50,000+ and minimum price of $0.50 can be traded No mutual funds, options, GICs, Bonds, etc. This tool is meant for people going long and granny’s holding aapl, You can buy shares that are prices lower than $0.50. Get $25 Free when opening a New Wealthsimple Trade Accounthttps://wealthsimple.sjv.io/PJQDN(Promo raised from $5 to $25 starting March 2021. Here’s how RBC InvestEase compares with Wealthsimple. So if buying all Canadian is free, but us is 1.5 buy and sell. Wealthsimple Crypto is made available through the Wealthsimple Trade app, but is offered by Wealthsimple Digital Assets Inc., a virtual currency dealer money services business authorized by FINTRAC. I’ve been managing my own portfolios on Questrade for 10 years, and with them keep my TFSA, RRSP, and my daughter’s RESP. Best way to understand is to read each of etf they buy on your risk and see if you like it or not. In your situation I don’t believe there’s any benefit of moving to WS Invest unless you’re either struggling with your investment strategy OR you’re bored of monitoring it and you want to just set and forget it. In this video I will be presenting the main differences between Canada's Top 2 Discount Brokers: Wealthsimple Trade and Questrade. Wealthsimple vs. Acorns – Summary and Conclusion. 90/10 growth portfolio and it does pretty well. Personally, the lack of features on WS trade made it lacklustre for my use and I eventually moved on to Questrade. Wealthsimple has some of the lowest mers of any robo advisors. No fees, clean simple interface, it’s essentially WS Invest but you get to pick the flavours of your portfolio. In contrast, Wealthsimple (known as Wealthsimple Invest ) allows you to grow your money based on your goals and risk appetite with the help of an experienced portfolio manager who has control over your investments. 0. I don't like the fact that on days the SPY went up $ in WS went down. In other words, ShareOwner executes trades and holds your cash and securities. Use invest for my RRSP and trade for my TFSA. Press question mark to learn the rest of the keyboard shortcuts. You might as well stick with your $5-$10 per trade fee with one of the big guys, And no trading inside TFSAs which is a bummer. Both Wealthsimple and Acorns have a handful of expert-built portfolios in which you can invest. Cryptocurrencies purchased and held in an account with Wealthsimple Crypto are not protected by … Note that both Wealthsimple and Questwealth are actively managed portfolios, so these holdings may change! Wealthsimple Trade only has fees when you trade US funds, but VGRO has a fee of 0.24%. No real time quotes (15 min delay on everything) All trades settle in CAD (No US side to a cash account/mandatory 1.5% spread on buys and subsequent sells) No DRIP $20 paper statement fee! But then compare that to other platform a where you pay 9.99 every single time. Why would anyone using any of these features be interested in the tool? save . Hey guys, I have a personal investment account with Wealthsimple, and want to make it into a TFSA. There are pros and cons with each platform it’s on you to decide what kind of approach you want to take on. Buying and selling the same stock in the same day can get your account flagged for suspicious activity, and consequently blocked and banned. Posted by 3 months ago. Questrade vs. Wealthsimple Trade. As you say, it is the robo investing system they offer, allowing full automation, from deposit to trade. I found out the hard way. Now. ....and finally, day trading is strongly discouraged. And the conversion is 1.5% each way with wealthsimple not 5% like the comment above. The main con is fees, but the pros list is a lot more expansive. Before Wealthsimple Trade was introduced, Wealthsimple was solely a robo-advisor platform. There's been a bit of a recent scandal, though. The other product is called WealthSimple Invest. Today it became available for everyone. Accountholders simply transfer their funds to their TFSA account or setup auto-deposits. User account menu . Of course this is anecdotal and there will be losses along with gains, but the ease of use is definitely there. WealthSimple Invest is an account that someone else manages your money/investments for you. Wealthsimple Trade is the only brokerage platform in Canada to offer commission-free stock trading. They have been in business since 2014. I just transferred money in to do some day trading lol. While most people would rather pay us a very small fee to manage their investments for them on our Invest platform, we've heard from a lot of clients that they like tinkering with some of their investments and rebalancing them on their own (and have the time and expertise to do so)- and this is where Wealthsimple Trade fits in. If you have great self control you can get the same or similar results elsewhere, but taking out yourself as a variable is important for some. I use wealthsimple invest for long term growth. Questrade vs Wealthsimple Trade: What can I invest in? Wealthsimple Trade is offered by Canadian ShareOwner Investments Inc. ... Wealthsimple Invest and W4W are offered by Wealthsimple Inc., a registered portfolio manager in each province and territory of Canada. Based on trusting them which to me is dumb. Wealthsimple vs Wealthsimple trade. I was wondering how many of you have a positive experience with Wealthsimple (Robo manages portfolio), I use Wealthsimple for my foreign exposure. So if I buy a stock and it goes up but starts tanking you can't sell if it's up 1.25% and have to wait until its -1.5% to sell? Wealthsimple Trade vs. Questrade In this section let’s quickly compare and look at the key differences between Wealthsimple Trade and Questrade investment platforms. Wealthsimple Crypto is currently not registered as a securities adviser or securities dealer. ShareOwner is a member of the Investment Industry Regulatory Organization of Canada. Lol I use them and days the SPY went up my portfolios that held SPY went up. I’ve blown way too much earlier in my career when I’ve chased the next big thing and ended up buying high and selling low. Both TFSAs are managed by professional portfolio managers. WealthSimple Trade is what's called a self-directed account, where you manage it yourself. Once I had learned more about the market and had an idea of what I wanted to do with it, I moved on to Wealthsimple Trade. I currently have another TFSA at a regular bank … New comments cannot be posted and votes cannot be cast, More posts from the PersonalFinanceCanada community, Continue browsing in r/PersonalFinanceCanada, Press J to jump to the feed. In late 2018, Robinhood announced that it would begin offering checking and savings accounts with a 3% interest rate, significantly higher than the national average. Yes, this! For penny stocks, please visit: r/canadapennystocks, Press J to jump to the feed. Press J to jump to the feed. Start with as … It’s a good little mix, about 75% goes to invest and 25% goes to trade. If you can be diligent to add your contributions on your own, this is the better option. WealthSimple Invest Trade is the discount broker, allowing free trades for Canadian listed securities. 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