Questrade is overall more fully featured. The site may not work properly if you don't, If you do not update your browser, we suggest you visit, Press J to jump to the feed. The platform backs up its system multiple times a day, seven days a week. Wealthsimple is very slow at buying and selling so it's great for trading in the long run, but they have very few stocks to trade from and you can't use Norberts Gambit. Just finished a transfer from questrade to wealthsimple trade. In other words, it’s experience versus the startup mentality. personal non-registered accounts, RRSP, and TFSAs. Winner: Questwealth – you can’t beat their rock bottom fee structure. If you are going to do the same as me and have some cash in your TFSA, it's a good time to withdraw the cash before the end of December, so you can re-invest it in your WT TFSA after Jan 1st 2020. We're committed to protecting your account with the highest standards of security available. And it seems that WT is growing much faster. Also I opened an acct with questrade and moved some money in now what am I looking for charges moving out? I will slowly add to these positions over time, but don't feel obligated to invest 1k per stock to save on fees. 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. With Questrade, I would make sure to buy at least $1000 worth of a stock, to keep my commissions at half a percent or less, but this didn't allow me to buy as many stocks as I wanted. Having used a bunch of different brokerage interfaces over the years I can confidently say I prefer Questrade over Wealthsimple. Let’s get the trading fees discussion out of the way right off the top. But which one is … After ranking Qtrade ahead of Questrade in our updated best Canadian discount brokers for 2021 article, we had a number of readers ask for more explanation on the Qtrade vs Questrade comparison criterion, and why Qtrade had supplanted Questrade as our #1 most recommended Canadian brokerage. But the emergence of Wealthsimple Trade threatens to usurp Questrade’s crown. Questrade also offers trading in RESPs, LIRA, LIF, RRIF, corporate investment, and margin accounts. Questrade is another popular Canadian discount brokerage that lets users buy and sell stocks and ETFs. Fee-conscious investors will most closely compare Wealthsimple Trade with Questrade – the king of low-cost DIY investing and our top choice for the best online brokerage in Canada. With Questrade, you can also buy ETFs for free. Pin. I'm just thinking about buying and holding, maybe rearrange the fund once every year, so I can't think of anything fancy for now. Wealthsimple Trade is only better than Questrade if you are only buying and selling TSX listed ETFs. I draw the line after asset location. Questrade is better if you're going to be actively trading. If you do nobert's gambit it's flat $4.95 at Questrade. Mobile Trading App 9.8/10. The app js great too. But is one of them have better additional values? Questradehas long reigned supreme as the best discount brokerage in Canada for investors who want to save on commissions and fees. Read below to find out how they stack up against each other. Is there a restriction to stock exchanges like OTC or anything? You are essentially paying 1.5% of total amount in commission each time buying and selling. save hide report. We added a Wealthsimple vs Questrade section in this post because it’s a question that comes up quite often. Wealthsimple's management fee is 0.5%, you still pay the underlying ETF fees on top of that. Wealthsimple Trade No-fee CAD trades. New comments cannot be posted and votes cannot be cast, More posts from the PersonalFinanceCanada community, Continue browsing in r/PersonalFinanceCanada, Looks like you're using new Reddit on an old browser. Thus use questrade for buying american stocks and etfs. If you want an extremely simple "throw money at it, let it do its thing, and don't touch it" kind of program, then it absolutely works. You have to pay to sell from what I understand, but I think it's 5$ per sell or something, so if you sell 1000$ you're still only paying the one 5$ fee. Close. Wealthsimple and Questrade are both geared toward individuals interested in taking an active role in managing their investing and trading, but they differ in their features and benefits. So my intuition is telling me to go with WT. In its current state, the idea that I’d use a phone platform missing basic brokerage features for the next twenty years is just not possible. The exchange rate fee 1.5% is less than Questrade 2% and paying the fee again when selling isn't that big of a deal if you hold on to them for a long time. You get what you pay for. These limitations are a big deal to some people and not a problem to others. 4. I do not need to sell to rebalance and I just buy the ETF that is dragging my allocation out of whack. 8. If you’re planning to mainly buy ETFs then you don’t save much in commissions because you should rarely be selling. She's currently paying 2.25% on an actively managed low risk portfolio (55% bonds). Pretty simple, what’s better? Questrade is better if you're going to be actively trading. Asset location is one aspect. Questrade vs Wealthsimple Trade: What account types can I open? ibkr vs questrade reddit. wealthsimple vs questwealth reddit. Thanks, I think in terms of ROI, not much. Looks like Wealthsimple Trade is a lot more limited in what you can buy, charges a 1.5% currency conversion, but is also basically fee free for buying stocks where Questrade isn't, and doens't have a minimum investment or inactivity fee. Wealthsimple Trade or Questrade according to Reddit? I have a feeling OP is referring to Wealthsimple Trade and not the Wealthsimple roboadvisor. Free etf buys but still gotta pay to sell. Wealthsimple vs. Questrade (Pros & Cons) When comparing Wealthsimple to Questrade you can see it as the hot new band versus the established classic rock act. Wealthsimple is the perfect option for her. We consider Wealthsimple Trade is a great complement to Questrade but not a replacement. Wealthsimple vs. Questrade (Questwealth Portfolios) Questrade has been around for a long time. Using a brokerage also let's you do more complex maneuvers and micromanage your portfolio. Questrade is an online trading platform for investing in world markets. Posted on December 16, 2020 by December 16, 2020 by With the purpose of long-term investment (over 20 years), which platform do you think is better? You can also do tax loss harvesting. Qtrade vs Wealthsimple Trade: Fees. In this section let’s quickly compare and look at the key differences between Wealthsimple Trade and Questrade investment platforms. Questwealth Portfolios is a service provided by Questrade Wealth Management Inc. 1 The 0.38% represents a Questwealth Balanced Portfolio and is inclusive of the management fees charged directly … Can I do better than this? Active fund managers have somewhere around 1.5-2% fees, but Wealthsimple has 0.5%+MER, which averages to 0.7% ish for a normal portfolio, or 1.1 ish for a halal/socially responsible portfolio. For $1,000 worth ETF it's $15. Also, a mention for Interactive Brokers, which is closer to Questrade than Wealthsimple Trade, however deserves recognition as it is also becoming popular with Canadians. I will keep both for now, but any new investments are going into WT because of the free commissions. Wealthsimple Crypto is currently not registered as a securities adviser or securities dealer. Questrade is better if you plan to US stocks or ETFs. but if the 1.5% is less than $5, it's fine right? Thanks. Lower perforamnce of questwealth seems to be due to their smaller investment in Canadian stocks, but some people say that helps cutting some of the taxes. Questwealth vs Wealthsimple vs Modern Advisor. It seems to be easier to navigate and have no trading fees. No real time quotes are available. Questrade has none of these limitations. Questrade charges commissions for its trades while Wealthsimple Trade offers all of its trades for free. (Which they didn't hide. I was planning on using them for etf purchasing but seeing as wealthsimple is free to buy and sell etf and stock why wouldn’t you use them?!?! Once purchased, assets are immediately available to sell, and when an asset is sold, the proceeds are available to use right away. We use cookies on our websites for a number of purposes, including analytics and performance, functionality and advertising. The biggest benefit of WT is that I can now diversify way more. I saved $135 in fees. Wealthsimple Trade vs. Questrade for $10,000 $150. In that respect Wealthsimple is simpler, automated, and less expensive, so that makes it better. wealthsimple trade is better for buying and selling canadian stocks/etfs. if you are buying US listed stocks or ETFs never use Wealthsimple Trade. The commission on selling is negligible for anyone with more than 25k probably. Number of limitations: there are no USD accounts powerful once you know the how 's wealthsimple trade vs questrade reddit operating n... Us stock wave that fee by allowing investor to buy USD ETFs?! But the emergence of Wealthsimple Trade it 's flat $ 4.95 at.! 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