Wealthsimple

MuscleBeard

Well-known member
Trusted Member
A few of my friends have started investing with the Wealthsimple app. Anyone have experience actually making some money from it? I just downloaded it, thinking of just putting <500 on it to start and see. Always a little careful with these financial apps so I figured I'd ask here.
 
I'm using Questrade and Interactive broker at the moment.
Currently thinking about opening a WS account to replace my swing/hold trading account with QT to reduce my fees, heard good things about and some people i trade with are using it too.
Will only keep QT for OTC
 
I'm using Questrade and Interactive broker at the moment.
Currently thinking about opening a WS account to replace my swing/hold trading account with QT to reduce my fees, heard good things about and some people i trade with are using it too.
Will only keep QT for OTC
You won't regret it I still have my quest trade but thinking of switching vet completely to wealth simple the fees that wealthsimple has in place is hard to beat
 
You won't regret it I still have my quest trade but thinking of switching vet completely to wealth simple the fees that wealthsimple has in place is hard to beat
If you don't do OTC trading, Questrade don't offer anything else better than IB and WS imo.

What kind of trading do you do?
 
Questrade here. I've had problems with slow execution for Daytrading with TD and IB so I stay away. WS also is less optimal for what I do.
 
All done with that boys, I am retired. If these things were available back in the day when I monitored individual and indexed funds closely, I would be Into the lowest fee apps that gave me the most options and info in real time (selling if a stock drops a certain percentage, info on stocks that have consistently beat the market etc,). Good luck boys, invest until you make enough money you can comfortably live on then do the things you love to do ... whether it is work, go back to school, learn to play the piano ... whatever
 
For Canadian stocks and ETF’s I use WealthsimpleTrade and options and US stocks I use Questrade. Personally I like WST the best but it’s limited but hoping in the future they expand their platform to make the playing field level.
That's the only crappy thing about wealthsimple does not have all the otc stocks that show potential
 
For Canadian stocks and ETF’s I use WealthsimpleTrade and options and US stocks I use Questrade. Personally I like WST the best but it’s limited but hoping in the future they expand their platform to make the playing field level.
This right here!
The spread you pay on wealthsimple for currency conversions is insane! What most people don't realize is that you also pay this crazy spread when you sell your position as well, and that's typically when it will hurt the most because your investment has grown significantly (hopefully). The $4.99-$9.99 commission on trades that most other platforms will look much better at those times.

Wealthsimple for Canadian stocks in registered funds.
Questrade for everything else.
 
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