📈📚 Join The Investing Academy ➤ bit.ly/theinvestingacademy Wealthsimple Trade (Get 2 FREE Stocks) ➤ bit.ly/3v1FBQt Questrade (Get $50 Commission-Free Trades) ➤ bit.ly/3OhrRrK HAPPY NEW YEAR!!! Which brokerage do you prefer in 2023? Leave your comments down below :)

@danieldengL4R

Жыл бұрын

Hi Brandon, TD has an app-based trading called 'TD Easy Trade' & they give their clients 50 commission-free trades per year! I wanted to trade more than 50. Some of the same equities that I traded on TD Easy Trade seems to be missing on Wealthsimple as I sometimes get the following feedback message: "This security is not eligible for settlement through the clearing system in Canada." That will limit my commission-free choices in Canada to the NBDB & Desjardins Disnat. Can you do a comparison video on NBDB & Disnat as to which is cheaper in terms of non-commission fees? Thank you very much in advance!

@mastertrader3491

Ай бұрын

What about comparing these 2 with the newer ones Moomoo and Passiv etc.

@stiven-journey

Ай бұрын

Time for an up date

I left Questrade last year as I’d had enough of their appalling service. The last straw was it was near impossible to withdraw money from my accounts. They made it as painful as possible. It took more than a year to try and get funds from an RESP. In the end we gave up and left Questrade entirely to get access to these funds for my kids higher education costs. Glad to share my experience with anyone to help them avoid a whole lot of stress.

@samridhikotnala789

Жыл бұрын

Hey Jason, I would like to know more on your experience please.

@JAYWRLDWIDE

Жыл бұрын

So do you use wealthsimple now?

@g1984AF

10 ай бұрын

Wow, I was about to open a RESP for my son

@bhavdeeprehal8827

5 ай бұрын

Good to know about RESPs. Quest trade is still better for USD and US stocks though - Don’t have to have everything with one platform !

@uncovidvaxxforthestrongand3582

3 ай бұрын

did you get your money?

Earlier last year ,you and your father were showing and comparing the holdings on Questrade and Wealthsimple .May be its about time to have a look at those portfolios as 2022 came to a close.

Good update. I like both platforms and they each have their own advantage. I would LOVE if Questrade would lose their commission fees.

Re- support, with W.S. I have booked telephone appointments with advisors a few times to discuss issues, etc.

Maybe something to consider in your next assessment. Is how easy or hard are the brokers to deal with in cases of death to the individual and how easy or hard is the process to transfer asset to a living spouse in case of death of the holder of the broker account.

Thanks so much for breaking down this comparison. It is exactly what I was looking for this morning.

Using Questrade overall like the format. Somewhat challenging to begin in navigation. Being new to investing all those additional features for the experienced investors are not likely to be used. Calling them with questions is useful and have had an overall good experience. The main issue is the fees. If you make a mistake with overlapping etfs you can not simply sell them off because of the $4.95 fee. Anitially I had thought the etfs were free in and out and I lost aprox $4.00 the dividends i received saved me $1.00 I have another etf to sell and will need to hold for a year so that the dividends will atleast cover the fee going out, or that it rises high enough to sell, and hope to make something or brake even. so you need to be certain when you make any purchases. also depending how many shares you own a particular stock they could charge up to $10 going out. that is a real bite into profits. For now I will stick with them and maybe due to customers leaving they will make some changes to bring customers back. I dont know... they better do something or Wealthsimple will leave them behind.

Thankyou for letting me know about wealthsimple plus. I've lost thousands in conversion fees already buying and selling tesla stock and if I had known about this sooner I would have saved a lot. This will probably pay 10x over in a month.

Thanks for this timely update!

I love WS trade. Great for an investor, and I use an app more than Desktop. So easy to use. I felt QT wanted way too much information for opening an TFSA and with data breaches happening everywhere, this is important to me.

@uncovidvaxxforthestrongand3582

3 ай бұрын

do you make money?

@WiseOwl_1408

Ай бұрын

? U gay bro ?

@RyH10

Ай бұрын

Lmao, it's wild that my comment bothered you that much, that this is how you spend your long weekend. Be better.

WS does have RESP's, Spousal RRSP, etc. They are just under the Managed accounts not DIY. WS also does the "Cash" account. Which gives you 1% cash back into your stock account.

@sasesinghan3543

Жыл бұрын

And managed LIRA as well.

@codcaptainswag

Жыл бұрын

Exactly! It’s one of the biggest knocks he has but they’ve had it for a while!

@fpsrogers8033

Жыл бұрын

The things not talked about is the controlled spread wealthsimple has... if the stock is selling at $1 wealthsimple will sell you at $.90 it's stupid

Iv called wealthsimple once with a concern. And i was answered by a helpful person. So people do anwser the phones.

I use weathsimple, but its getting frustrating that they dont have half the US funds I want, as well as preferred shares. I will most likely make the switch to National Bank

Thank you for making this video. Amazing content and very easy to understand.

Good day Brandon - What about comparing these 2 with the newer ones Moomoo and Passiv etc.

With Qestrade you will be charged ECN, ATS or Odd-lot orders fees. If you buy/sell a limited number of ETF shares this would be negligible but could add up pretty quickly for larger orders.

Happy new year. With wealth Simple trade you can chat online for support. I did it last week and the wait time was very minimal. Between TD easy trade is another broker. Did u miss it ?

Hi Brandon- Just a note- Wealthsimple does have a chat feature. I have used it and it was very helpful and resolved my questions quite quickly.

thanks for the great video! helped a lot :)

I ditched Questrade for Wealthsimple and it was the best move I've made this year.

hey man, you can actually open and trade with an account on Questrade with a minimum of $250. you will just need to talk to an agent for them to manually activate your account. $1000 minimum for AUTOMATIC activation. i learned this when first opening my RRSP, i transferred $300 and the agent was able to activate my account manually and within 2 business days i was able to buy/sell.

I left Quest for Wealthsimple and I'm much happier with the experience and customer service.

Very cool breakdown for a beginner!!!

I should of went with wealth simple... the quest trade fees are killing me. a 500$ transaction costs me 1% right off the get-go, and another 1% on my way out. for someone adjusting their portfolio on a weekly basis... its getting expensive! thanks again for the great video! love everything you're putting out.

@Konstantin19877

Жыл бұрын

Do you mean if I want to withdraw 10000k they will charge 1%?

@momo35444

Жыл бұрын

@@Konstantin19877 max 10$ at 100 shares traded. but for small transactions, its 5$ min

@speedyfeint

Жыл бұрын

that's exactly why i pulled everything from qt and moved to ws.

@atoaster2070

5 ай бұрын

I mean, it's still better than what TD charges. They charge $10 per trade (buying and selling), even if it's just a few hundred dollars. It's not so bad if you're a passive investor, or if you only trade more than $1000 at a time, but if you're an active investor, it can really eat into your savings.

The day Wealthsimple will allow investors to hold USDs (not drop fees, but be able to hold actual USDs and withdraw USDs to a US bank account), I will seriously consider switching. Right now, my biggest frustration with Questrade is the fact that I can't do fractional trading. It sucks when you wanna buy ETFs like VOO that cost like US$350 for one share. But I like being able to keep actual US dollars and being paid dividends in USDs. The commission fee when you sell, well, it sucks but it's a detail to me. It's only a game changer if you're day trading, but when I buy, I hold for a very long time.

@kellyevans9682

7 ай бұрын

Just saw your comment, not sure if you knew but they do have this now. I believe you pay a monthly fee for it but if you hold more than 100k on the platform, it is free.

@veeo987

7 ай бұрын

@@kellyevans9682 Yes I learned about this recently. I made the switch to Wealthsimple officially.

This wasn't quite clear to me in your video regarding the Wealthsimple Plus option - I pulled this info off the WS website: With a Plus account, you’ll only pay a 1.5% foreign-exchange fee once when you convert CAD to USD to fund your account - not each time you trade a U.S. stock.

@simplelife2967

Жыл бұрын

That is correct. So technically it is not commission free. It is still 1.5% to fund the USD account. Same price as with the basic account, If you but a stock and hold it long term. There will be additional 1.5% when you sell your position though.

National Bank, zero commissions and can have Canadian and USA $ accounts. Options at $1.25 with no ticket charge (min $6). Moved from TD and it is much better as one can scale in to a position at no cost. For US accounts, Tastyworks say they will be in Canada in the first half of the year. But that might be wishful thinking.

@mr.financial

Жыл бұрын

I haven't tried national banks platform. I only have read about it. How does the interface compare to other big brokerages like TD direct investing or rbc direct investing?

@jessehamlin3420

Жыл бұрын

@@mr.financial interface is just fine, main thing is no commissions with all the bells and whistles of questrade and wealthsimple

@tc5991

Жыл бұрын

@@mr.financial Basic platform works fine. They have a traders platform Market -Q but found it less than stable for day trading etc. But if you are a position trader or swing trader the basic platform works just fine. Interactive Brokers is probably the best for active traders for stocks, futures and options. When Tastyworks arrives it will be the leader for US stocks, futures and crypto, etc

Could you do a video on how to invest in a corporate account - what type of funds or stocks would be good to invest.

New to this but one important point to me is it seems WealthSimple does not allow RRIF accounts whereas I believe Questrade does.

Happy New Year Thanks for the information Brandon to transfer MF from a bank to questrade... What are Questrades Fees for mutual funds ...thank you

Good video. Is there a way to download activities/transactions in Wealthsimple ?

this is a very good one. Moved from US an year ago finding everything expensive as most of the brokerages are commission free there. Immeadiately signed up for the wealthsimple plus.

@leswhynin913

Жыл бұрын

In part this is because payment for order flow is illegal on Canadian exchanges. In the States brokerages were making money by giving you worse bid ask action

@Viva-07

Жыл бұрын

I am in the same boat..moving to Canada from U S.. how is wealthsimple plus..could you please share hiw is it so far...

From my limited knowledge, I understand that if you are trading lots of securities in $US on WS, the commission fee (1.5%) is a killer. Another KZread video on this topic recommends less than 10,000 use WS, more than 10,000 use Questrade.

@danielionanov5620

Жыл бұрын

If you have a bank with USD you can transfer it to Ws as long as you pay 10$ subscription a month which can be worth it

Very late comment regarding lack of drip in WS. It doesent really matter for WS since it allows fractional invesment.

Hello Brandon. You mentioned that there is no RESP option on wealth simple, there actually is. Not sure if it's a new feature..

@speedyfeint

Жыл бұрын

you are talking about wealthsimple invest... this video is about wealthsimple trade.

Love the video, Brandon. Would love to hear your thoughts on TD EasyTrade (have you used it)? I know you use Direct Invest. I started with EasyTrade last summer and it’s been great. 50 free trades a year (which is basically all I need). The real limiter is only access to TD ETFs (which are commission free) - which I felt was worth the loss. It’s been a game changer for me knowing I’m not losing lots on fees and can buy a few shares here and there.

@susanwheeler-hall

Жыл бұрын

Interesting would like to learn more about easytrade - thanks for posting about it Josh

Hi Brandon, Will there be another video from the series "Complete guide to online Brokers in Canada" for 2023 where to talk about TD, National Bank as well

@The_Cat5

4 ай бұрын

Theres also Interactive Brokers too

You can e-transfer for instant deposit

I use both but when it comes with commission and fees I go with wealth simple and simple.

Does WS and QT provide us a financial advisor ?

WS is pretty easy to use. Compare that to IB it's like Apple vs Linux

I continue to believe there is no such thing as free. Wealth Simple is not in business to not make money, which means we are going to pay for the services somewhere. When I pay $7 elsewhere I know what my cost is. When I trade for “free” I do not . Is it buried in bid/ask spreads? In other words if I’m on TD & buy a stock with a $10.00 bid & $10.01 Ask will I see exactly the same spread on WS or will the ask be $10.02 with WS picking up the $.01 ? If not then exactly where am I paying more? I am assuming there is not some new economy of scale where they get to lose money on every transaction but make it up in volume.

@silvercharm

4 ай бұрын

Have you read wealth simples literature ? They do have a range of services, some of which are not free. So they do earn revenue and providing a few free services makes perfect sense.

HI brandon, nice video but was't there suppose to have a honorable mention at the end ?

@beaviswealth

Жыл бұрын

Thanks Bobby… it totally slipped my mind by the end of the video… it would be National Bank!!! 🙌🏼

@bobbobby4930

Жыл бұрын

@@beaviswealth thanks for taking the time to respond, I am curently whit national bank and I Wonder if someday you could do a review abouth it because I never heard people talk abouth national bank as a brocker and while it's free to buy or sell any cdn or us stock I don't understand why it's not more popular. Is there any reason I don't understand because I never try any other ???

come on wealthsimple!!! hurry up with options trading!! i can't wait any longer!!

Hi! Is it possible to invest in index funds via wealthsimple?

Really informative videos 👍 In your opinion which is better to invest long term in USD ETF, Wealthsimple or Questrade?

Wait a minute, how do you activate options trading on wealthsimple?

Good video. I only consider fees as selling point if a person wants to be a "trader". For the investor fees really don't matter, the benefits on the platform for research and options ( for sellers of premium)and DRIP is what at the top of the list. Questrade and Wealthsimple have many issues with trade execution and best price fills. Not really an issue for investors but traders look at tick prices. Questrade looks like there is still issues from when I left them back in 2013

@greggary7217

Жыл бұрын

Absolutely agree with this. Research is king for investors. An extra few $ is basically meaningless . Even for traders tho it seems obvious to me that free is never free. I’d expect to see the noted fill price issues, bid-ask spread issues etc. even as a trader I’d rather know what I’m actually paying than have it buried.

@bhavdeeprehal8827

5 ай бұрын

Bingo. Quest trade is better for USD as well. Fortunately we have options for both platforms - we don’t need to be tied to one or the other.

National bank brokerage is best. 0 commissions on buy sell.

@oldfatcrabxx

Жыл бұрын

how about disnat?

Thanks for this informative video on these 2 trading platforms your a credit to our country ..WE THE NORTH

@beaviswealth

Жыл бұрын

WE THE NORTH 💪🏻💪🏻

Do you have a video that tells one how to transfer funds from a Bank brokerage into well simple or any other self managing platform without incurring any costs

Brandon thank you very much for all the Info, One Question is possible to open more than 1 TFSA account in Wealth simple, and How ??

@ElazarEhrentreu-zc2hz

Жыл бұрын

Yes, you can open as many TFSAs as you want. Just be careful about not going over your contribution room. Each TFSA you have in your name will count towards your single contribution room as determined by the CRA

Informative video. My question is, I literally buy 1 share/mnth of QYLD in my tfsa. Would you say the plus is worth it, considering I am not investing close to the $4k/yr in US ETF's or stocks?

Please do a video with the momoo app. Now in 🇨🇦

Can i pre-order IPO fron Questrade, THANKSS

at around 15:00 you mentioned you dont get the grant in RESP in quest. but i have been getting the 20% grant. cann you explain which one we dont get ?

@pattiteeuwen7433

Жыл бұрын

I get the grant as well. I think he may have made an error in stating that the grant is not given in the Questrade platform.

I have a wealthsimple account and I do have RESP account and a LIRA

@speedyfeint

Жыл бұрын

you are talking about wealthsimple invest... this video is about wealthsimple trade.

I acually left Questrade and went back to Wealthsimple. The issue with QT was that their exchange fees is more expensive than WS. Last time it was 2% for exchange + commission for me for QT. Not worth it.

@ryanvemulapalli

5 ай бұрын

You can use Norbert's Gambit technique with questrade and pay virtually nothing for CAD to USD, and vice versa. You also can hold and transfer in and out I'm us dollars

@Emanuel_R

5 ай бұрын

@@ryanvemulapalli That was sooo old. I use National Bank now with $0 commission.

I completely agree, wealthsimple is great, I would LOVE to see the DRIP feature!

@trenthogan4212

10 ай бұрын

It has DRIP now

Can u share more information about the option trading on Wealthsimple? I have not seen anything else about this beta feature and I would really like to do options on Wealthsimple.

@jasminepeterson4847

Жыл бұрын

I did see it on their twitter after

Hi Can you let me know which Canadian Banks offer Students to start off a trading account with no fee - No Commission - Highly appreciated

I do strictly options trading so I can only use Questrade but then the commissions are so so high! This year alone the commissions + fees paid was equal 25% of my profits :(

@codcaptainswag

Жыл бұрын

Try emailing WS and asking to join the options BETA!

@robertop4665

Жыл бұрын

Interactive Brokers is a better broker for options. The fees are significantly lower

Questrade is still #1 for me. Love that I can have all my accounts in one platform, USD accounts and the ability to DRIP.

Hi Brandon……..Wealthsimple also has Spousal RRSP, RESP, LIRA, Business Invest and save, crypto and joint save accounts

@VibhavAgrawal28

Жыл бұрын

All these are currently in INVEST (managed platform) and not DIY as the premise of this channel :)

What about Interactive brokers?

@BigGroupHug

Жыл бұрын

IBKR is better than Questrade for options (call & puts) and currency conversions on a cost per transaction basis. Questrade allows your TFSA to count towards your Margin account valuation while IBKR does not. IBKR also doesn't have certain products for sale like Mutual Funds or GICs or CFDs. If you care about those. Wealthsimple is better than Questrade for basic TFSA transactions but you're Buy/Sells aren't always directly direct to market. But if the market volume on the stock is strong, then it doesn't matter. Also, you keep the most money on Wealthsimple if you trade dollar and penny stocks on the TSX-V IBKR will let you buy US Bonds and Stock Warrants in your TFSA and trading on foreign markets in the RRSP is easy.

Wealthsimple Invest does support LIRA and RESP accounts btw

what about residency requirements on Wealthsimple and how does this compare to something like Interactive brokers?

@matthewbushey5103

Жыл бұрын

I would like to know the answer to this too.

@brainybananaproduction

11 ай бұрын

You have to be a Canadian resident for tax purpose.

Hey team, if ETFs are “free” on QT and Stocks are “free” on WS, should I split my TFSA between the two? Buy ETFs in QT and individual stocks in WS? I’m a low income investor so if that saves me money it feels like a good idea?

@abhinavjha5856

Жыл бұрын

+1

Have you done a video on dividends? I can't figure out how they work - do I have to buy a minimum amount of stock from a company to qualify for a dividend? Do some stocks give dividends and not others, and if so how do I find this information out?

@VibhavAgrawal28

Жыл бұрын

If a company grants dividend, you will get even if you hold 1 share (if i am not wrong, WS grants you dividend even for factionals). So, i would say, it might be more around if dividend was granted for stock you are holding

@beaviswealth

Жыл бұрын

I’ve done tons! Search dividends on my channel 👍🏻

@susanwheeler-hall

Жыл бұрын

This also explained well in Brandon's Online course

I found out very quickly that the customer service with Questtrade was atrocious. The fees are bad but the extremely poor service was the nail in the coffin. I pulled out of their service quickly and moved to WS where every customer service interaction I've had with them thus far has been above and beyond stellar. WS isnt perfect but I'd pull every cent out of the stock market before I'd ever go back to Questtrade and give them more money.

@speedyfeint

Жыл бұрын

i've never tried qt customer service but i still pulled everything out and moved to ws... why pay $5 free per trade (selling) when you can do it for free? btw i only buy tsx listed etf's.

Sir how to register in Wealthsimple stock broker as an international trader or investor?

What about vanguard Canada?

No foreign exchange fees: IBKR. No subscription fees and super low options commissions. Interface is definitely the least user friendly however.

@Ritikkapoor2204

Жыл бұрын

I use for Day trading, wealthsimple for investing

@monmantong2003

Жыл бұрын

I have questrade and just opened an account in the IBKR too, as it has more choices, like you can buy thr US treasury bonds by yourself, and the exchange fee to other currency is low too

@djayjp

Жыл бұрын

@@monmantong2003 That's pretty cool. Definitely useful at these rates (and much better than a Treasury ETF that just continuously cycles its holdings).

I wish Questrade would drop their commission fee

Does Wealthsimple have inactivity fees?

I think this video need an update. Wealthsimple chat is amazing now .

Blossom will be the best broker by the end of 2023 🔥

Questrade does not ever say, 'is it ok we charge you $ for your trade/transaction'. It's not very transparent.

but I forced to liquidate all my funds from WS just because i left Canada and reside in south asia,, they said i can not hold securities with them, absurd. but Quetrade welcomed me.

Thought you said there was going to be an honourable mention about another platform

@beaviswealth

Жыл бұрын

I totally forget about it and the video got too long..! National Bank!!!

How many times can I day trade a week on Wealthsimple?

This is misleading. You don't mention that everytime you buy and sell a US stock you lose %1.5. Meaning if you buy, sell and then buy you paid %1.5 three times!!!! Questade doesn't do that. It hold your money in USD. I'd much rather pay $5 fee than %1.5 of my money everytime I make a move.

Fractional trades is such a W

I don’t like the subscription-based, I’d prefer a per-transaction fee. Open up the USD for all please.

My big thing is I have to be able to access my investment accounts from USA. Apparently USA doesn't allow us to see our account on major canadian banks or wealth simple. So looks like questtrade is a no brainer for me. Moving to USA soon

This video sounds like an ad for WealthSimple. Especially when there is no mention of the 0.5% investment fee that they charge. It’s not a free brokerage.

WS now offer dividend reinvestment

What is the other commission free trading account in Canada? Were you paid for this commercial?

What are your thoughts on TD brokerage?

@grahamatkinson9591

Жыл бұрын

I like the free 50 trades

But can you write/sell options on stocks you own on Wealthsimple though...?

@voo5000

Жыл бұрын

No, then they would have to change the name from "simple'' lol

@speedyfeint

Жыл бұрын

@@voo5000 actually they are testing the beta version of options trading on wealthsimple.. many are already using it.

I left Questrade for Wealthsimple. I pay the $10 bucks a month for no fee usd and usd dollars in my accounts. Rrsp is mostly usd so nice not having to exchange every time.

@Po101080

Жыл бұрын

May I ask if wealthsimple lets you hold USD in the account? Or is everything still just converted back to CAD? Thanks!

@arshS27

Жыл бұрын

Go with IBKr , cheaper than this to have Us stocks there

@ryanreid5859

Жыл бұрын

@@arshS27 not a fan of the software or the look. 10 bucks is a small price to pay for being comfortable on a platform. I also don't need all the other options. I make maybe 4 to 6 transactions a month.

@ryanreid5859

Жыл бұрын

@Po101080 yes with the plus version or subscription you are able to hold and get paid USD dividends with no conversion fees. Get paid in USD. Keep it in USD

@Po101080

Жыл бұрын

@@ryanreid5859 Awesome, thank you for the info!

They have added FHSA

Well simple has no candlesticks and orders take forever to go through so you cannot day trade. You also cannot set stop losses or price points. where is our good one for Canadians?

Can someone under the age of 18 open an account of any of these apps?

I signed up with Questrade but it constantly seizes up. I shutdown my computer and walked away lol

Wealth Simple has live chat during trading hours

No candlestick charts, the basic and most important thing while trading in any of the canadian platforms

@kellyevans9682

7 ай бұрын

If you are a long term investor it’s easy to just access charting through a 3rd party.

If i got 500k in a tfsa lets say one day with a 80/20 questwealth portfolio amd i want to withdrawl it, since some of that portfolio is in usd, how much is that gonna cost lol?

What’s the second commission free platform?

@codcaptainswag

Жыл бұрын

Yeah LOL I was waiting for it 😂

@speedyfeint

Жыл бұрын

he forgot but it's national bank's platform.. also known as nbdb..