Help with Wealthsimple

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Feb 23rd, 2021 1:11 pm

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Feb 22nd, 2021 4:44 pm

wantboost1 [OP]: Sr. Member; May 27, 2013; 628 posts; 59 upvotes

Feb 22nd, 2021 4:44 pm

Help with Wealthsimple

Their customer service is busy so I figured I would ask her .

I haven't transfered funds yet . But how does it work I was invest in tsx and nyse does it get fund out of same account. Cad /usd?

5 replies

Feb 22nd, 2021 10:06 pm

Electrah: Deal Addict; Jun 18, 2018; 1684 posts; 1127 upvotes; Toronto

Feb 22nd, 2021 10:06 pm

Are you transferring to WS or out of WS? If you are transferring funds out of WS, you need to reach out to the institution you're transferring to.

You instruct the institution you want to transfer in-kind, which means they don't sell the stock and just transfer the shares.

Feb 22nd, 2021 10:52 pm

wantboost1 [OP]: Sr. Member; May 27, 2013; 628 posts; 59 upvotes

Feb 22nd, 2021 10:52 pm

Transferring to ws . So I can buy stocks in tsx and nyse

Feb 22nd, 2021 10:56 pm

masalma: Deal Addict; Apr 8, 2006; 1112 posts; 268 upvotes

Feb 22nd, 2021 10:56 pm

You can buy with Canadian dollars
When purchasing US stocks you are charged 1.5% fee in addition to the current exchange rate.

Feb 23rd, 2021 11:26 am

reps001: Deal Addict; Jan 6, 2015; 1517 posts; 716 upvotes

Feb 23rd, 2021 11:26 am

No good on US stocks unless you feel your stocks can cover FX fee.
No US account this year at least, even they say they intend to add, but no timeline.
Transfer waiting time depends, it cost me 40 days since I hold some warrants and smallcap which WS does not support.

Feb 23rd, 2021 1:11 pm

Rockdaddy22: Deal Addict; Nov 26, 2011; 3423 posts; 867 upvotes

Feb 23rd, 2021 1:11 pm

You should specify Wealthsimple Trade and not just Wealthsimple

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