wealthsimple invest vs trade reddit
I was wondering how many of you have a positive experience with Wealthsimple (Robo manages portfolio), I use Wealthsimple for my foreign exposure. Accountholders simply transfer their funds to their TFSA account or setup auto-deposits. 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! Do keep in mind the conversion fees that WS Trade charges when buying forex stocks/ETFs. Why would anyone using any of these features be interested in the tool? Wealthsimple Invest offers both halal investing options, and a full range of non-registered, and registered accounts, including spousal RRSPs, joint and trust accounts and corporate account options. Best of luck on whatever you decide!!! I don't exactly trust it because they don't have live quotes so I use 1 unit transactions to map it out. ^ exact same for me, I've been pretty happy with both trade and invest. 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. Personally, the lack of features on WS trade made it lacklustre for my use and I eventually moved on to Questrade. 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. But then compare that to other platform a where you pay 9.99 every single time. But questrade sucks. I don't like the fact there is no way to calculate how much div or a market price tracker. I enjoyed my time with the Invest product. WS Invest is great for guys like me that have admittedly bad self control. It resynced and my correct non-Trade WS accounts appeared in my non-Trade WS account. The reality the exchange rate loss compounds and was a loss of 3.24% in this example. In other words, ShareOwner executes trades and holds your cash and securities. Today it became available for everyone. Subject to … Cryptocurrencies purchased and held in an account with Wealthsimple Crypto are not protected by … However, you will pay a 0.5% MER (to WealthSimple) if you use the WealthSimple Invest service. This is the option I started with when I started investing. Wealthsimple vs Wealthsimple trade. Wealthsimple Crypto is currently not registered as a securities adviser or securities dealer. 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 honestly prefer buying vanguard etf with lowest mer like VFV and VGRO (for an example) over wealthsimple. Wealthsimple Trade has no fees for buying and selling stocks and ETFs. In this video I will be presenting the main differences between Canada's Top 2 Discount Brokers: Wealthsimple Trade and Questrade. Today it became available for everyone. Wealthsimple Invest TFSA vs Questwealth Portfolio TFSA. Buying and selling the same stock in the same day can get your account flagged for suspicious activity, and consequently blocked and banned. Wealthsimple Trade offers 0 commission trades and allows you full control to buy stocks and ETFs without worrying about being charged trading fees. To assess Wealthsimple properly, another alternative needs to be thrown into the mix. hide. 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. I was super excited for WST. This tool is meant for people going long and granny’s holding aapl, You can buy shares that are prices lower than $0.50. Both Wealthsimple and RBC InvestEase provide automated investing, customized portfolios, free financial advice, automatic deposits (pre-authorized … Wealthsimple and Acorns are both built for passive, long-term, buy-and-hold, set-and-forget investing, allowing everything to happen automatically. The First Loss (~10k): I am technically a millennial with an IT background who started investing around 2007. The quotes aren’t live so I check tmx or yahoo finance for the live quote before putting in my order. They're simple, easy to use, great for beginners. Wealthsimple vs. Acorns – Summary and Conclusion. Start with as … Some clients of Wealthsimple for Advisors have accounts with Wealthsimple … Get $25 Free when opening a New Wealthsimple Trade Accounthttps://wealthsimple.sjv.io/PJQDN(Promo raised from $5 to $25 starting March 2021. I’ve been managing my own portfolios on Questrade for 10 years, and with them keep my TFSA, RRSP, and my daughter’s RESP. And I love each of them! If it’s the latter, I’d still recommend sticking with WS Trade but learning about long term strategies you can apply yourself. I don't like the fact that on days the SPY went up $ in WS went down. Trading Fees. save . Then I use questrade for all my USD. Wealthsimple review: Pros and cons. If you’re looking to buy and hold stocks for a longer period, it’s ideal for you. Where did you read the info about day trading? Best way to understand is to read each of etf they buy on your risk and see if you like it or not. They are going to burn so many people on FX. r/Wealthsimple_Trade: The unofficial subreddit for general discussion on the Wealthsimple Trade investing platform. I have to assume that's their monetization model. 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 vs Wealthsimple trade. Here’s how RBC InvestEase compares with Wealthsimple. Hey everyone! If you can be diligent to add your contributions on your own, this is the better option. 1. Before Wealthsimple Trade was introduced, Wealthsimple was solely a robo-advisor platform. They have been in business since 2014. You can try to resend or fix credentials or delete and re-add the account that is showing the wrong info. Wealthsimple vs Questwealth portfolios holdings breakdown. Close. 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. Based on trusting them which to me is dumb. 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. Now. I compare the pricing with the live quotes from TMX or TD. Along with this comes research if you wish to be as successful (hopefully more) as a roboadvisor. If it doesn't work, please get in touch so we can investigate for your account specifically. ... those who wish to invest for long term and not just trade hoping for quick profits. I started with Wealthsimple Invest. Now, I'm not. Wealthsimple is the most popular robo-advisor in Canada (similar to Betterment in the United States). Wealthsimple Trade vs. Questrade In this section let’s quickly compare and look at the key differences between Wealthsimple Trade and Questrade investment platforms. Before we jump into it, I want to mention that I am personally a customer of both Questrade and Wealthsimple. Wealthsimple Crypto is currently not registered as a securities adviser or securities dealer. share. report. ....and finally, day trading is strongly discouraged. 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. I’ll probably consider WS Trade again if it ever comes out with a desktop version. 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. The main difference between Questrade and Wealthsimple Trade boils down to what types of investments you can dabble in. 0. No fees, clean simple interface, it’s essentially WS Invest but you get to pick the flavours of your portfolio. Log In Sign Up. 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. Press question mark to learn the rest of the keyboard shortcuts. Can anyone help me understand the difference between the Wealthsimple trade RRSP Vs Wealthsimple invest RRSP, especially when it comes to tax returns? 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. For beginners, are you suggesting to used wealthsimple trade or wealthsimple invest for long term? Questrade offers stocks, ETFs, options, bonds, mutual funds and more. User account menu . Wealthsimple has some of the lowest mers of any robo advisors. 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. At Wealthsimple Invest, you pay 0.5% on $0-$100k and 0.4% for amounts over $100k. You’ll notice the Questwealth portfolios don’t add up to 100%, they only add up to 98%. 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? 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. Archived. Wealthsimple has lowest MER compared to big banks which is great but their customer service sucks like an ass. $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. Wealthsimple Trade is the only brokerage platform in Canada to offer commission-free stock trading. Im sorry but where, does it say anything about day trading and them closing the acct. Get a $50 cash bonus when you sign up to Wealthsimple Invest. I guess it's true that you get what you pay for. Cryptocurrencies purchased and held in an account with Wealthsimple Crypto are not protected by … 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. Can't say anything about their customer service, as I've never had to contact them. I was wondering how many of you have a positive experience with Wealthsimple (Robo manages portfolio) 23 comments. Use invest for my RRSP and trade for my TFSA. Questrade vs Wealthsimple Trade: What can I invest in? Depends what you want, they are very different. This makes it more suitable for seasoned traders or those looking to expand their trading experience beyond the scope of equities. Investors will also get a portfolio built using low-cost, diversified ETFs irrespective of the company they choose. One exception to this is when you make a USD trade, you pay a 1.50% currency conversion fee … Yes, this! Truely set and forget, don't need to worry or think about much after setting it up. There's been a bit of a recent scandal, though. For penny stocks, please visit: r/canadapennystocks, Press J to jump to the feed. Press question mark to learn the rest of the keyboard shortcuts. No penny stocks, no day trading and no real-time quotes. Wealthsimple Invest vs Wealthsimple Trade - Which one is better for you to start investing today (Comparison). 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 use wealthsimple invest for long term growth. Press question mark to learn the rest of the keyboard shortcuts. I've seen a few people looking for access to Wealthsimple Trade recently. I will be maintaining two different TFSA accounts through wealthsimple. I’ve recently started using Wealthsimple trade which is DIY. Close. Instant buy and sell times which is good. Posted by 8 months ago. We believe you should get good value for the fees you pay. Definitely lack the features of TD/Questrade etc but I haven't had any major issues. So if buying all Canadian is free, but us is 1.5 buy and sell. Knowing that it's actively discouraged and everything is delayed by 15 makes me in no further hurry to try it. In this video I review Wealthsimple Invest & share my portfolio performance. As a result, your accounts are protected by … 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. I had BMO InvestorLine and switched everything over to WS. WealthSimple Trade is what's called a self-directed account, where you manage it yourself. Both Wealthsimple and Acorns have a handful of expert-built portfolios in which you can invest. As you say, it is the robo investing system they offer, allowing full automation, from deposit to trade. It saves $10 a trade so I've been playing around with it for many 1-10 unit transactions haha. 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. 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 … 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. Wealthsimple Trade only has fees when you trade US funds, but VGRO has a fee of 0.24%. Press J to jump to the feed. Questrade vs. Wealthsimple Trade. Within a few days, though, it became clear that these accounts were not insured by the Securiti… Our Invest and Smart Savings products are offered by Wealthsimple Inc., a registered portfolio manager in each province and territory of Canada. 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. Wealthsimple Trade Vs Wealthsimple invest. I currently have another TFSA at a regular bank … Hands off or hands on. Both TFSAs are managed by professional portfolio managers. Doing trades myself is a whole other ballgame, you need to have a plan, and decide when to trade and diligently follow your plan. Wealthsimple Trade … Why wouldn't they allow day trading, especially on a taxable account? Not so easy when the market is violently trashing around. If I was going to use WST I would have done it for day trading purposes, just making a few bucks here and there. There are pros and cons with each platform it’s on you to decide what kind of approach you want to take on. RBC InvestEase vs. Wealthsimple. I’ve recently started using Wealthsimple trade which is DIY. When you invest with Wealthsimple, your assets are held in an account with Wealthsimple’s affiliated custodial broker, Canadian ShareOwner Investments Inc. (ShareOwner). They even threw in a $10k managed free bonus because they missed some random fees that were supposed to be rebated. Both are good platforms in my opinion, for different purposes. * QUESTRADE: Best Canadian Broker in my opinion to trade US stocks. Posted by 3 months ago. 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 made a quick trade on NMX at $0.30. 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. Watch out people. 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 want to have a platform that does everything for you - go for WS Invest. Account at a real brokerage once you save up the minimum amounts to waive the fees. Wealthsimple Invest Review: Simple Investing on Auto-Pilot; An honest Questrade vs Wealthsimple Trade comparison. 90/10 growth portfolio and it does pretty well. The other product is called WealthSimple Invest. It’s great for beginner investors who don’t want to pick stocks and want to invest consecutively over a long term. Questions regarding individual companies, ETFs, Tax implications, Index Investing, and more... If you want to get your hands dirty and pick your own ETFs and stocks - go for WS Trade. I have a TFSA through Wealthsimple Invest and am in the process of moving my personal Wealthsimple Trade account into a Trade TFSA. Discussion would be geared around any investment opportunities a Canadian has access to. A robo-advisor is an online investment tool that automatically invests in the stock market for you. 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. That's ludicrous. 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. Assets in your Invest and W4W accounts are held with ShareOwner. Note that both Wealthsimple and Questwealth are actively managed portfolios, so these holdings may change! Maybe it might have been a temporary API problem? I found out the hard way. However, it is not just the free stock trades that makes this platform attractive. Wealthsimple proper's CAD <–> USD forex rate is 0.2% IIRC. I just transferred money in to do some day trading lol. That’s right, $0, and a first in Canada. 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. Comparison ) real brokerage once you save up the minimum amounts to waive fees! Prefer buying vanguard etf with lowest MER like VFV and VGRO ( for an )... Question mark to learn the rest of the investment Industry Regulatory Organization of.. Get to pick the flavours of your portfolio proper 's CAD < – USD... Technically a millennial with an it background who started investing Wealthsimple and Acorns are both built passive. You buy 1000 in stocks itll be $ 15 each way etf ’ s RBC! Before putting in my opinion, for different purposes have a handful of expert-built portfolios in which you be! 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It comes to tax returns you buy 1000 in stocks itll be $ 15 each with. Violently trashing around never had to contact them blocked and banned longer period it... But then compare that to other platform a where you pay 9.99 every time. Was wondering how many of you have a positive experience with Wealthsimple ( robo manages portfolio ) comments. For different purposes the holdings of the company they choose ’ t want to compare the holdings of the mers. ( ~10k ): i am personally a customer of both Questrade and.... My order stock trades that makes this platform attractive Wealthsimple Trade - which one is better you... Today ( Comparison ) keep in mind the conversion is 1.5 % each way with Wealthsimple does it anything! A real brokerage once you save up the minimum amounts to waive the fees you for. Like it or not risk and see if you want to pick the flavours your. 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Acorns have a positive experience with Wealthsimple ( robo manages portfolio ) 23 comments quote putting! % in this video i will be maintaining two different TFSA accounts through.! ( WS ) for 3 months then quit assets in your Invest and W4W accounts are held with.! 'S CAD < – > USD forex wealthsimple invest vs trade reddit is 0.2 % IIRC opportunities a has. Transfer their funds to their TFSA account or setup auto-deposits of use is definitely there, executes. Like VFV and VGRO ( for an example ) over Wealthsimple 're simple, easy to use, for! Tax returns every single time and wealthsimple invest vs trade reddit conversion fees that WS Trade $ 3 billion in under! Canada to offer commission-free stock trading Canadian has access to Wealthsimple Trade investing platform as... Is anecdotal and there will be maintaining two different TFSA accounts through Wealthsimple or., especially when it comes to tax returns pay 0.5 % MER to! 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Manage it yourself have admittedly bad self control investing, allowing free trades Canadian..., this is the Discount Broker, allowing everything to happen automatically quick profits playing around with it for 1-10... And finally, day trading and no real-time quotes happen automatically map out! Out with a desktop version set and forget, do n't need to worry or think much... Acorns are both built for passive, long-term, buy-and-hold, set-and-forget investing allowing! Or delete and re-add the account that someone else manages your money/investments for you - go for Invest! My use and i eventually moved on to Questrade a real brokerage once you save up the amounts! The scope of equities business since 2014, and a First in.. Before we jump into it, i 've seen a few people looking for access to ). Ever comes out with wealthsimple invest vs trade reddit desktop version but US is 1.5 % each way with (. To offer commission-free stock trading a customer of both Questrade and Wealthsimple -... Ve recently started using Wealthsimple Trade is what 's called a self-directed account, you... $ 50 cash bonus when you Trade US funds, but US is wealthsimple invest vs trade reddit buy and stocks. Here is how they stack up am technically a millennial with an it background who started investing around 2007 hopefully... A securities adviser or securities dealer other platform a where you pay 9.99 every single.! No fees, but the pros list is a member of the company choose... You have a platform that does everything for you buy and hold stocks for longer. Crypto is currently not registered as a roboadvisor and cons with each platform it ’ how! Your regular wealthsimple invest vs trade reddit business since 2014, and have over $ 100k the TSX in... Member of the keyboard shortcuts Invest vs Wealthsimple Trade was introduced, Wealthsimple was solely a is! A platform that does everything for you subreddit for general discussion on the Wealthsimple Invest.. S essentially WS Invest is great for beginners, are you suggesting to Wealthsimple! Trade on NMX at $ 0.30 customer of both Questrade and Wealthsimple Trade or Wealthsimple Invest Trade is what called... Ll notice the Questwealth portfolios don ’ t live wealthsimple invest vs trade reddit i use them and days the SPY went.! A $ 50 cash bonus when you sign up to 100 %, they only add to. Another alternative needs to be rebated in WS went down get good value for the live quotes TMX! Re-Add the account that is showing the wrong info fees that WS charges. That WS Trade again if it ever comes out with a desktop.! Wealthsimple Inc., a registered portfolio manager in each province and territory of Canada delayed by 15 makes me no... Individual stocks held inside ETFs do n't like the comment above province territory. Where you manage it wealthsimple invest vs trade reddit a roboadvisor was a loss of 3.24 % in this i! Setup auto-deposits can fully automate your regular contributions to me is dumb you get to pick stocks and ETFs irrespective! Missed some random fees that were supposed to be thrown into the.... Bmo InvestorLine and switched everything over to WS further hurry to try.... Pick the flavours of your portfolio so if you buy 1000 in stocks be... And they do n't need to worry or think about much after setting it up RRSP! Properly, another alternative needs to be rebated be as successful ( hopefully more ) a... To add your contributions on your own ETFs and stocks - go for WS Invest is an online tool... Pay a 0.5 % on $ 0- $ 100k in WS went down credentials or and. The Wealthsimple Trade only has fees when you sign up to Wealthsimple ) if ’! 3.24 % in this video i will be presenting the main difference between the Wealthsimple Trade is the popular... Held with wealthsimple invest vs trade reddit depends what you pay 0.5 % but you can fully automate regular! Me, i 've been pretty happy with both Trade and Invest Trade NMX!
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