Investing

Wealthsimple Trade for iOS and Android

  • Last Updated:
  • Jan 10th, 2019 4:39 pm
[OP]
Deal Addict
User avatar
Dec 4, 2007
2795 posts
629 upvotes
Quebec
why? i find this thing perfect for noob with not much money to learn and start investing. its definetly not for expenrienced trader with a good amount of money.

1st november, i opened a questrade account. had a promotion that paid 88$ in comission (ecn and other fees not included) but have only 60 days to "spend" it.

because i had less than 5k value in the account, it would cost me 25$ quarter inactivities fees, so i have the choice to put more money in or sell everything at loss (at that time)

any, sure wealth simple trade is not for everyone, but i am really happy to have a no minimum quarterly fees, no tradings commisions fees.

of course, its missing lots of investment products, but i guess, thats the price to pay for a no fees investing broker app.
Sr. Member
Apr 14, 2017
561 posts
187 upvotes
DT Calgary
You cannot trade the same stock in the same day? Silly.
[OP]
Deal Addict
User avatar
Dec 4, 2007
2795 posts
629 upvotes
Quebec
really?? thats really annoying and limit our trading activities.
Newbie
Mar 21, 2018
77 posts
13 upvotes
I got tired of moving down on the waiting list, signed up for questrade.
If they pick up the pace will reconsider.
[OP]
Deal Addict
User avatar
Dec 4, 2007
2795 posts
629 upvotes
Quebec
your not missing much, this apps have very limited feature and, according to another user, you cant buy and sell the same stock during the day.
[OP]
Deal Addict
User avatar
Dec 4, 2007
2795 posts
629 upvotes
Quebec
finally made my first trade with the app, it allowed me to buy and sell the same stock during the day, dont know what the other guy is saying.
Sr. Member
Apr 9, 2012
570 posts
152 upvotes
Markham
HyperTech wrote:
Jan 8th, 2019 10:00 am
finally made my first trade with the app, it allowed me to buy and sell the same stock during the day, dont know what the other guy is saying.
They are saying that you can potentially be flagged and blocked from trading again. That's what the poster said.
Sr. Member
Apr 9, 2012
570 posts
152 upvotes
Markham
I dont understand why people would complain about ZERO cost trading. You can easily split your trading into one with WealthSimple and other one with Interactive Brokers. Trade ETFs for free or some long term holds while short term trades using IB.
Newbie
Sep 21, 2017
89 posts
35 upvotes
Vancouver
The app does have some limited features but can't really complain about no trading costs. It just seems a novelty to be able to say okay I'm gonna buy like 1 share of TD or whatever without the fees. I started with $100 for fun, gained a couple dollars. Once they offer Registered accounts it will be better tho so you don't have to keep track of every buy and sell.
I don't like the 15 minute delay but I can use other sites to get up to the minute info.

Also I had like $0.45 left and tried to buy something and it seems like it works but then gets cancelled so I guess they really don't want people trading literal penny stocks, hence the $0.50 minimum. Overall I 'll probably just use it for fun money or something.
Jr. Member
Apr 19, 2017
158 posts
86 upvotes
Can someone please provide screenshots.
Thanks.
Jr. Member
Jun 18, 2018
109 posts
39 upvotes
Behind by around 150 people...

Do they only offer non-registered?
Can you purchase US stocks and how does the currency exchange work?

I was hoping to open a TFSA and buy some CDN stocks but curious about the above
Jr. Member
Jun 14, 2016
137 posts
32 upvotes
Calgary
Electrah wrote:
Jan 10th, 2019 4:02 pm
Behind by around 150 people...

Do they only offer non-registered?
Can you purchase US stocks and how does the currency exchange work?

I was hoping to open a TFSA and buy some CDN stocks but curious about the above
From reading the FAQ, they're only offering non-registered accounts at the moment. Registered accounts are in the works.

You can purchase US stocks, they'll charge exchange +1.5%. They hope to offer USD accounts in the future.

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