This community-run subreddit is for general discussion on the Wealthsimple Trade trading platform. The Showdown: Questrade & Questwealth vs Wealthsimple Invest & Wealthsimple Trade Up until last year, investors looking to cut their investment fees to a minimum could choose to go with Questrade if they wanted an online discount brokerage and Wealthsimple … We'll be in touch soon. I'm pretty relieved that the consensus seems to be that it will be converted before being transferred. Click Upload. Questrade charges $4.95 minimum per trade … Wealthsimple Trade vs. Questrade. Questrade estimates 10 days for the whole thing to happen. It recently launched a beta version of Wealthsimple Trade as a new service that competes with Questrade… do you hold ETF shares directly or do you hold shares in their overall fund). Full transfer = all stock positions and all cash (the account is closed), otherwise partial. If the account that you are transferring out of and into can both hold USD, then ordinarily the USD would not be converted to CAD (at least that has been my experience). But, I didn’t have to wait to get my money from Wealthsimple before I could send funds to Questrade. questrade-knowledgebase. That’s right, $0, and a first in Canada. Questrade had been around for many years now – It is a developed and a mature trading platform. Starting October 1, 2019, you can transfer any account to Questrade from another financial institution, regardless of the balance, and get your transfer fees rebated (maximum rebate $150/account). Questwealth Portfolios is a service provided by Questrade Wealth Management Inc. Wealthsimple’s investing service is well known as a robo-advisor (building an ETF portfolio and rebalancing it for you). Questrade offers an additional $10 million in private insurance to its clients. Both platforms use ETFs to make transfers pretty seamless. I want it converted to CAD in my case because I intend on following the CCP model ETF portfolio on Questrade, so if it wasn't converted I'd have to do it myself anyway. Currently, the only way to move funds into your Wealthsimple Trade account is through the Electronic Funds Transfer (EFT) method and through institutional transfers. Close ... Wealthsimple Trade: commission-free stock trading for Canadians. 3. Questrade… What’s more, Questrade’s commissions and management fees … For me, everything was sold off and transferred in CAD cash. The Wealthsimple growth portfolio holds VTI, IEFA, and IEMG which all trade in US dollars. Buy and sell Bitcoin and Ethereum instantly with Wealthsimple. Questrade transfer. Questrade vs Wealthsimple Trade. Qtrade is one of the top discount brokerage platforms in Canada. TD Direct Investing and BMO InvestorLine, and independent brokerages such as Questrade, Wealthsimple Trade… Looks like you're using new Reddit on an old browser. These platforms are offered by big banks e.g. I'm pretty sure Wealthsimple sells everything and turns it into CAD before its transferred over. The quick answer is: only buy as much as you’re willing to loose. They sold all my shares and converted at appx. You should probably ask Wealthsimple, or make the request on your transfer forms. Wealthsimple Trade is quickly establishing itself as a serious contender to Questrade. I asked that everything be converted to cash and then moved to Questrade. Edit: Can confirm, now, that it all transferred over in Canadian dollars, with no extra actions on my part other than the initial "in cash" transfer request. It took 22 days (16 business days) before it showed up on Questrade. When you trade … Do you want Wealthsimple to transfer over the USD, or to convert it to CAD first? You’ll have access to more markets and securities (Wealthsimple trade … Our most common taxable account for the extra money you want to invest after maxing out your RRSP and TFSA. Starting October 1, 2019, you can transfer any account to Questrade from another financial institution, regardless of the balance, and get your transfer … Questrade vs. Wealthsimple Trade. Complete all fields. A transfer can include multiple stock and currency positions. Hello everyone! Wealthsimple Trade: commission-free stock trading for Canadians. New comments cannot be posted and votes cannot be cast, More posts from the Wealthsimple_Trade community, Continue browsing in r/Wealthsimple_Trade. We also wrote a full Questrade … One exception to this is when you make a USD trade, you pay a 1.50% currency conversion fee. This community-run subreddit is for general discussion on the Wealthsimple Trade mobile trading … I have a few stocks that I might be selling (or buying more) in the short term. You also have the option to move everything in kind. Wealthsimple Trade has no fees for buying and selling stocks and ETFs. Navigate to your Profile by clicking the icon in the top left corner. I’m doing this right now. 📈📚 FREE Training Crash Course + Join Our Investing Academy https://bit.ly/theinvestingacademy Today we'll compare Questrade to Wealthsimple! Select "Transfer an account". Regardless of which option you go with, there are no fees for opening or closing an account, and no transfer fees. While this is likely to change in the future, at present Questrade trumps Wealthsimple Trade just on account offerings alone. But what do you mean by "I didn’t have to wait to get my money from Wealthsimple before I could send funds to Questrade", you mean I could transfer cash from my bank account to trade on Questrade? It also offers an Online Security Guarantee which means that you get 100% reimbursement for any unauthorized transactions in your account that result in losses to you. 2 comments. For Document type, select Rebate. It took 22 days (16 business days) before it showed up on Questrade. Waiting for the funds to hit my Questrade account. I'm honestly not sure how WS structures what you own (e.g. I was wondering how long will the transfer take, and for how long won't I be able to trade? Questrade vs Wealthsimple Trade. Questrade … Wealthsimple Trade is a bit less complicated since it limits its investment types to stocks and ETFs. It currently supports grabbing orders, cancelling orders, placing orders (limit buys and sells), and gathering data about your WealthSimple Account. Check out the Norbert Gambit strategy. You need only to connect your Wealthsimple or Questrade investment account to your bank account and initiate the transfer. Log in or … Questrade provides a full suite of account types, Wealthsimple Trade offers only one. We'll reimburse any administrative transfer … Here are the comparisons for Questrade vs Wealthsimple. The recent addition of support for TFSA and RRSP accounts on Wealthsimple Trade and API login are quickly growing Trade… The Wealthsimple growth portfolio holds VTI, IEFA, and IEMG which all trade in US dollars. 1. Sign up to trade here. I did this recently. … We've received your inquiry and are working on getting it to the right expert on our Client Success … I considered moving my self-directed investing accounts from TD Direct to Questrade before ultimately switching to Wealthsimple Trade. QUESTRADE PROS: Very economical commissions– $4.95 per trade, you really can’t beat that! If someone is transferring their Wealthsimple TFSA 'in cash' to Questrade, can they end up with any USD in Questrade? But to answer your question, yes, Questrade allows you to transfer in kind assuming that whatever WS holds for you is funds you can also purchase through them. report. Edit: Can confirm, now, that it all transferred over in Canadian dollars, with no extra actions on my part other than the initial "in cash" transfer request. This is a good question. You would just tell Questrade to transfer … This is one of the major reasons why Questrade … Click “Funding”. This makes it fairly easy to execute trades and manage your portfolio. Log in to your Questrade account. Press question mark to learn the rest of the keyboard shortcuts. Figure out how much Bitcoin to buy. In this Questrade vs. Wealthsimple comparison, Wealth Rocket takes a close look at two of Canada's best wealth management platforms. Questwealth Portfolios is the newest entrant to the robo-advising industry in Canada. Max is $9.95 per trade (if you are buying high volume) It’s Free to Buy ETFs– This helps reduce the investing fees substantially and makes it comparable to investing in TD index e-series. Hi, I was wondering if it’s possible to do an in-kind transfer from wealthsimple trade to Questrade? 1.3287 which, appears to be slightly higher than the BoC rate from the date the sale happened. Thanks so much for getting in touch. Questrade vs Wealthsimple Trade… 1. 1. 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. This is what you want to do to have the best conversion rate. I don't remember if Questrade … save. It also allows Wealthsimple to charge zero commissions for all of its trade types. Press question mark to learn the rest of the keyboard shortcuts. EFTs are where you link a chequing … It will take some time. However, they are 'new' only in the sense that Questwealth is the new name by which the robo-advisor, Portfolio IQ, is now being referred to. Wealthsimple Trade … 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. I switched over, took almost 2 weeks before I could place a trade on Questrade. Pros Of Questrade vs. Wealthsimple Trade. So I wrote one in the past few days, and I think it is ready for use by others. Wealthsimple is quickly climbing the ladder in Stockchase’s Questrade vs Wealthsimple Trade comparison and quickly establishing itself as a serious contender to Questrade. Hi! Using this wrapper, you can build software to automate investments in your WealthSimple Trade … Probably options too, didn't try. Go to ACCOUNT MANAGEMENT and then click Upload Documents. Questrade API and the App Hub – Quickly Export Transactions to Google Sheets. 2. WS charges 0.2% for currency conversion, which is fairly reasonable. Questrade is the most popular Canadian online brokerage, an independent company recommended by thousands of online reviews and real users.. We selected it as the Best of All Canadian Brokerages in Stockchase’s Questrade vs Others comparison of all Canadian brokerages. While Wealthsimple Trade … Ok thanks! You can do the Options Trading . Follow the prompts to fill out details associated with the account at your … 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. Fee is charged once per transfer. share. Trade Crypto Cash Tax Log in Thanks! Self-directed investors in Canada have access to a number of online brokerage accounts they can use to buy and sell stocks, ETFs, options, and other investment securities. I’m 4 days in so far. Transfer an investment account to Wealthsimple and we'll put your money to work in a smart, low-fee, passive portfolio. 100% Upvoted. Questrade charges 1.0% (I think), so OP is definitely better off having WS do the conversion, unless they plan to perform Norbit's Gambit with the US funds once they hit Questrade. Trading Fees. Transfer from Wealthsimple Trade. Also note that even if you have a Wealthsimple TFSA already opened from your Wealthsimple Investing account, you’ll need to open another TFSA account specifically for Wealthsimple Trade. How to Fund your Questrade By WealthHack Posted on January 17, 2019 In Blog , Investing Tagged bill payments , cibc , how to fund , questrade , questrade funding Leave a comment Questrade … hide.