Wealthsimple Trade for iOS and Android

Question for you ... how would you know that it's "secure" ? I would never assume this whenever I'm asked to share authentication credentials with a third-party.

That seems strange if there's no other way to fund the account. i thought it would just be set up like a bill payment from your bank account or something. I also wouldn't feel that comfortable giving my login. But it could be just for the Beta and the real app will have another way.

Just curious what place in line you were?, I'm 719th and hoping to get the email soon.

Sorry, i have no idea how to know what number i was in line.

HyperTech wrote: ↑ Sorry, i have no idea how to know what number i was in line.

I just checked on the website and it seems like it's updating as people sign up so I'm 400 something now, so it doesn't matter anyway. But I'm just excited to be able to buy with no commission.

Hope u get ur account soon.

Anyway, i understand its free, but can't find anywhere their inactivity fees if there is any.

And, since i started "investing" on 1st November, i am now minus 150-200$. And this is not counting all my transactions fees of 5$ +ecn for each transaction i have done...looks like, free or not, i am not really good at trading, i am hesiting to subscribe to realtime market data because of my poor performance.

HyperTech wrote: ↑ Hope u get ur account soon.

Anyway, i understand its free, but can't find anywhere their inactivity fees if there is any.

And, since i started "investing" on 1st November, i am now minus 150-200$. And this is not counting all my transactions fees of 5$ +ecn for each transaction i have done...looks like, free or not, i am not really good at trading, i am hesiting to subscribe to realtime market data because of my poor performance.

https://tradehelp.wealthsimple.com/hc/e ... ple-Trade-

$0 inactivity fee

Thank you so much for the link.

Seems like a lot of securties are not available on wealth simple trade. Most of the RBC ETFs are not there, Invesco ETFs are not there. A lot of the ishares are not there. But suprisingly VGRO is available.

bnc doesnt charge for etf transaction (buy and sell) over 100 shares.

questrade doesnt charge for buying etf, but cost 5-10$ for selling.

what i find very expensive is to withdraw money from the account, 125$ to remove everything and 75$ for a partial withdraw.

once the money inside wealthsimple, its expensive to remove it.

HyperTech wrote: ↑ bnc doesnt charge for etf transaction (buy and sell) over 100 shares.

questrade doesnt charge for buying etf, but cost 5-10$ for selling.

what i find very expensive is to withdraw money from the account, 125$ to remove everything and 75$ for a partial withdraw.

once the money inside wealthsimple, its expensive to remove it.

Deposits & Withdrawals via Bank Transfer (EFT) $0

Transfer out fees are a bit different.

i am not sure to understand the difference....

HyperTech wrote: ↑ i am not sure to understand the difference....

You can sell your stocks and transfer your money to a bank of your choice via Bank Transfer without any commission.
When you do "transfer out" your account to another financial institution, that transfers your whole account as is (with stocks and ETF that it holds).

ohhhh, okay. i c. thank you very much for the explanation.

So after reading their FAQ:

• No real time quotes (15 min delay on everything)
• All trades settle in CAD (No US side to a cash account/mandatory 1.5% spread on buys and subsequent sells)
• No DRIP
• $20 paper statement fee!
• $50 to submit reorg instructions
• No pre market or after hours trading
• No Investment Representatives to take trades
• Only stocks with average daily volume of 50,000+ and minimum price of $0.50 can be traded
• No mutual funds, options, GICs, Bonds, etc

....and finally, day trading is strongly discouraged. Buying and selling the same stock in the same day can get your account flagged for suspicious activity, and consequently blocked and banned.

Can I remove my name from the waiting list? Man, I’ll gladly pay $9.99 to trade elsewhere.

I had high hopes, this is a joke!

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.

You cannot trade the same stock in the same day? Silly.

really?? thats really annoying and limit our trading activities.

I got tired of moving down on the waiting list, signed up for questrade.
If they pick up the pace will reconsider.

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.