And we want people to understand exactly what that fee gets them. We do the exchange rate conversion (subject to our currency conversion fee ) on your behalf to make buying and selling US stocks as easy as possible. Unlike other platforms that charge commissions up to $10 for each buy and sell order, trades on Wealthsimple Trade won’t cost you a penny! Press question mark to learn the rest of the keyboard shortcuts. Stock Trading Made Easy We do the exchange rate conversion (subject to our 1.5% currency conversion fee) on your behalf to make buying and selling US stocks as easy as possible. More posts from the Wealthsimple_Trade community, Continue browsing in r/Wealthsimple_Trade. How come I don't get any presents? Can you trade options on Wealthsimple Trade? Thanks so much for getting in touch. Not a huge number, but it's real money. Rebalancing a portfolio on your own is about as much fun as trying to assemble an Ikea Fjälkinge shelving system with nary a #10001 Allen wrench. I feel like we can be honest with each other. We're as transparent as possible about it: you pay 0.5%; that goes down to 0.4% for Wealthsimple Black clients who have invested at least $100,000 with us. But the harder part is maintaining that balance. The content on this site is produced by Wealthsimple Technologies Inc. and is for informational purposes only. We’ve gotten to know each other pretty well, haven’t we? Here Are 7 Ways to Get it Right, Dear Ms. Etiquette: My Boyfriend Wants Me to Support Him While He Chases His Dream. Or how much risk I should take on? Wealthsimple makes powerful financial tools to help you grow and manage your money. They like to research the markets, invest in specific stocks and ETFs, and rebalance their own portfolios. And the hours you'd have spent managing your money, buying and selling ETFs, rebalancing your portfolio, doing tax-loss harvesting, reinvesting your dividends, and other exciting financial maintenance would have been exactly zero. Questrade charges $4.95 minimum per trade to sell ETFs and buy or sell stocks. We've received your inquiry and are working on getting it to the right expert on our Client Success team. But how much am I really paying you? Wealthsimple Trade. For stocks, you pay 1 cent/share and a minimum of $4.95/trade to a maximum of $9.95 per trade. Wealthsimple Trade has no fees for buying and selling stocks and ETFs. Buying US stocks is reasonable on WST if one plans to hold it for a matter of months or years. You can choose from: Conservative portfolio: 65% stocks and 35% bonds ; Growth portfolio: 80% stocks and 20% bonds; Balanced portfolio: 50% stocks and 50% bonds. Get started now. Dear Ms. Etiquette: I’m in Charge of a Group Vacation and Everyone Has Different Money Issues. (Available in Canada) This stock-trading service lets you buy and sell stocks and exchange-traded funds (ETFs) through a simple mobile app, with $0 commissions and no account minimums. (We're pretty confident.). That being said, unlike Canadian dividends, any dividends issued from a US-listed stock or ETF may be subject to a non-resident withholding tax of generally 15% (levied by the IRS- the American revenue regulatory body). Absolutely! Yet you have zero idea how much to give. Wealthsimple Trade has been offering free stock trades since March. Without having to do a thing or spend a dime, you’ll essentially be buying low and selling high. Our investment team and advisory committee are made up of some of the most respected investors and math wizards in the world. By Andrew Goldman. You absolutely could. Statistically, those are very small fees for the kind of sophisticated wealth management we deliver. I want to know. But wait. If you like fancy finance jargon — the Black Litterman model and mean variance technique and asset classes that provide exposure to diverse sources of beta — we've got plenty of that. Sure. Wealthsimple Trade has no fees for buying and selling stocks and ETFs. No. We'll be in touch soon. Moderators remove posts from feeds for a variety of reasons, including keeping communities safe, civil, and true to their purpose. Most will assess a flat per-trade commission fee for any stock purchase, big or small, that generally range from $5-$10 per online trade. That's not a scam, you just have no clue on what you're doing. In the spirit of that honesty, let's talk about Wealthsimple’s fees. And they're also very nice and friendly and don't use language only accountants understand. In this special edition, our guest Ms. Etiquette tackles the thorny task of dealing with a whole mess of people who want to hang out but don’t necessarily have the same budget. Wealthsimple Trade earns its cash on the 1.5% currency conversion fee when you’re trading CAD for USD stocks. Looks like you're using new Reddit on an old browser. This will matter more to experienced traders, but it is a big let-down for those of us who like to play the market. Wealthsimple Trade actually trumps Questrade when it comes to standard trading fees. One can easily make up the 1.5% over a course of months or years. CAD stocks are completely free. If you don't agree, well, that trip to Cleveland awaits. Wealthsimple offers 3 portfolios that allow you to pick your desired risk level. You may have heard of Wealthsimple, but have you heard of Wealthsimple Trade? Erm... not to be rude, but this information is SUPER CLEAR in their website, also when you create your account, and if I'm not mistaken, when you open the account you want, on the contract (the one you didn't read). That's called your asset allocation, it's precise, and it's different for different types of clients. With Wealthsimple Trade, Canadians can buy and sell thousands of Canadian and US-listed stocks and ETFs without paying any trading commissions. Her advice: Boundaries, communication, and more boundaries. I feel like you're giving me softballs here, Andrew. We make money on currency exchanges for US trades, and we plan on launching premium features in the future that will carry fees. That's not optimal, so we’ll exchange investments that have become overrepresented for the ones that have become underrepresented. Wealthsimple Trade: commission-free stock trading for Canadians. Wealthsimple Trade makes money on currency exchange fees for US trades, and we plan on launching premium features in the future that will likely carry fees.*. We spend a great deal of time and energy building next-generation portfolios using ETFs that are perfectly diversified. If you'd have invested $50,000 with us in a standard Growth portfolio on January 31, 2017, you'd have paid us $300 in fees by now. The benefits of TFSAs are not limited to Canadian securities, and you can purchase and sell US-listed securities in a TFSA. When you invest, your money is at risk and it is possible that you may lose some or all of your investment. Powerful financial tools to help you grow and manage your money. But once you reach Wealthsimple Black status, not only will your fees be smaller, but we do have a couple fancy perks for you. It’s that time of year, when you tip those wonderful people who help you live your life – the babysitter, the hair stylist, the handyman, the doorman, the house cleaner. This is their self-directed investment platform that lets you trade thousands of stocks and ETFs on Canadian and U.S. exchanges, all for $0 commission fees. Want to trade U.S. stocks and ETFs. Wealthsimple Trade provides no margin capabilities and you can’t even access the whole stock market, let alone trade options! Where are the free toasters that people get when they open bank accounts? Today we challenge WS’s investment experts with a taste of their own medicine: If stocks have the best returns, and their risk is minimal if your timetable is long enough... why are there bonds in my portfolio? You can trade with as little as $1 and there are no trading fees. Do you guys make me talk to a robot? *Please note that Wealthsimple Trade does not currently accept mailed cheques By-request transactions or special & extenuating circumstance fees But what if I need help figuring out how much to invest? It is fine you don’t do research but at least read carefully. 5.2k Simple, $0 Commission Stock Trading App With Wealthsimple Trade, you can use your phone to start trading stocks and ETFs on major Canadian and U.S. exchanges. 34. Wealthsimple Trade: commission-free stock trading for Canadians. While most online brokerages charge $9.99 per trade, Wealthsimple Trade doesn’t charge anything to buy and sell stocks or ETFs. Except in reverse. One exception to this is when you make a USD trade, you pay a 1.50% currency conversion fee. And then: a ton of support. The only trading fee we charge is a currency exchange fee for USD trades of the daily corporate rate x 1.5% — most brokerages charge around 2% on top of this rate for currency conversion. ... Wealthsimple Trade: commission-free stock trading for Canadians. However, you can still buy and sell both Canadian and US stocks and ETFs using your Canadian dollar account! Zero commissions in only Canadian equities! But there’s a catch. Ok. Simply put, Wealthsimple Trade is a mobile trading platform (brokerage) that allows users to trade stocks and other financial securities listed on major exchanges on a completely commission-free basis. Indeed, Wealthsimple Trade charges a 1.5% fee for currency conversion; and since the platform only supports deposits in CA$, this means investors will effectively pay … Six Totally Worthwhile Personal Finance Books According to People Who’d Know, The Extended Tax Deadline is Upon Us! There are no account minimums, no paperwork, and it's all backed by one of the most innovative finance companies in the world. Each time you buy or sell an American stock or ETF, there is a 1.5% currency conversion fee. We think that's a bargain — and a much much better deal than either paying a big bank more, or doing it yourself. When we design a portfolio, we put your money into different kinds of investments based on how risky they are, what kinds of companies and countries the investments are comprised of, etc. How it compares (briefly) Wealthsimple’s commission-free trades offer a competitive advantage for the small trader. This community-run subreddit is for general discussion on the Wealthsimple Trade mobile trading platform. The principle is simple. By using our Services or clicking I agree, you agree to our use of cookies. 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. Company profile page for Wealthsimple Inc including stock price, company news, press releases, executives, board members, and contact information Wealthsimple Magazine tells compelling, thoughtful, and unique stories about money through the lens of local, creative, and influential people. With some competitors charging almost $10 per trade, this is a huge savings. They have the kind of vast financial planning experience to ensure our clients are set up with portfolios aligned to their goals, and know all the totally-legal tricks to make sure you’re not paying a penny more than you need to be in taxes. 1 min read. It's not a scam, they are very open about it, and anyone who does some simple research before depositing their money into the app would see it. But first you'd have to calculate the perfect balance of those funds for you and then buy that balance. Members. But as the markets go up or down, the value of your investments change and pretty soon your portfolio doesn't meet the allocation we designed for you. Our current average response time for non-urgent inquiries is 5 business days (Please note we are closed on weekends). Wealthsimple uses technology and smart, friendly humans to help you grow and manage your money. Wealthsimple Trade’s currency conversion fee is one of the most important things to consider before opening an account with them. You also pay the small fee that's built into the ETFs we purchase for you — about 0.2%. This community-run subreddit is for general discussion on the Wealthsimple Trade trading platform. As of right now, you can only trade common stocks. If you have a small amount of money to invest, look out for a provider that offers a low account minimum to open an account. The only trading fee we charge is a currency exchange fee for USD trades of the current market + 1.5% - most brokerages charge around 2% on top of the corporate rate for currency conversion. As long as the stock or ETF meets all of our requirements you can buy and sell both Canadian and US assets using your Canadian dollar account! But the bottom line is: we think these portfolios are the perfect way to invest. We'd rather charge less in fees than spend our clients' money on gifts to our clients that they wouldn't have bought for themselves. One of the services we provide for all accounts is something called automatic portfolio rebalancing. We do not endorse any third parties referenced on this site. Each member of that team is registered as a Portfolio Manager — that means they have a certification in giving the kinds of advice they'll be giving. Cookies help us deliver our Services. Around $250 goes to Wealthsimple for our services, and $50 goes toward paying the fees for the ETFs themselves. Historical returns, hypothetical returns, expected returns and images included in this content are for illustrative purposes only. Wealthsimple Trade’s 1.5% currency conversion fee makes investing in U.S. stocks and ETFs very costly. Advantage: Wealthsimple Trade. That’s right, $0, and a first in Canada. We charge a fee. Yes! See? For instance: I don't care for that shirt. Lol it is written on their apps and website everywhere. Think of it as a round-trip ticket to Cleveland (depending on where you live!). With Questrade, there are no commission fees to purchase ETFs, and you can buy and sell stocks for as low as $4.95/trade. Trading Fees. Enter Wealthsimple Trade. We charge a 0.5% management fee for those who invest under $100,000, and a 0.4% fee with those who invest more. "Finance for Humans" is where we give you smart and easy-to-understand advice on navigating the financial world. The Wealthsimple Trade app, for Canadians only is available to anyone, whether you have a Wealthsimple robo-advisor account or not. And we're still friends. What other fancy terms can I throw around when people ask me what Wealthsimple is doing for me behind the scenes in exchange for that 0.5%? This community-run subreddit is for general discussion on the Wealthsimple Trade trading platform. You sure can! If you want to know if our fees are worth it, read this, see the services we provide, and decide for yourself. Invest, save, trade, and even do your taxes in a better, simpler way. Wealthsimple Trade provides a trading service to self-directed investors who want a hands-on approach to their investing and who would like to purchase individual stocks and ETFs to make up their investment portfolio. Yes, with that fee, you get unfettered, free, all-you-like telephone advice from our team of Portfolio Managers. Sadly, no you cannot use Wealthsimple Trade to trade options. But it's not nothing. That being said, there are also some transactional fees to be aware of, which you can view on our full pricing schedule for the platform here ! That's why we use exchange traded funds, or ETFs, which are part of our philosophy of passive investing. 5.7k. On the other hand, in that standard Growth portfolio, your gains over that period would have been $5,193. Over the past decade, the returns on 83% of actively managed funds in the US have failed to beat the broader market. Review of an online investment broker that allows a user to trade stocks and etfs for free in Canada, the USA and the UK. Can't I just buy the same ETFs you do and have pretty much no fees? It doesn’t charge account fees or have any account minimums to get started. If Stocks Are So Great, Shouldn’t I Only Have Stocks? US aren’t. 2. By using this website, you accept our (Terms of Use) and (Privacy Policy). That's a failure of such proportions that Warren Buffett recently lamented that investors who decided to use active funds have essentially flushed $100 billion in fees down the toilet in the past ten years. Active funds have historically failed to outperform the broader market. The Wealthsimple Trade app is for people who want a more hands-on approach. How is it a scam? Here's how that works: sometimes when the value of an investment goes down, it makes sense to sell that investment so you can use the losses to offset taxes; then we buy you a similar investment so that you can take advantage when the market goes back up. Past performance is not a guarantee of future results. If we didn't, we wouldn't have started the company. Well, margins are thin! You also pay the small fee that's built into the ETFs we purchase for you — about 0.2%. OK. That does sound kind of worth it. Dear Ms. Etiquette: How Much Am I Supposed to Tip During the Holidays Anyway? Until Wealthsimple Trade, Questrade has been the fee leader amongst Canadian online brokers. Help! We do something called dividend reinvestment, which means we put your dividends right back to work for you so they can earn even more money without you having to make a decision or lift a finger. Buy and sell thousands of stocks and exchange-traded funds (ETFs) on major Canadian and U.S. exchanges. Let’s take a closer look. If those other guys charge 1% or more, don't they more than make up for it with higher returns? The content is not intended to be investment advice or any other kind of professional advice. Copyright 2020 Wealthsimple Technologies Inc. Statistically, those are very small fees for the kind of sophisticated wealth management we deliver. Wealthsimple offers a … They also normally charge a fee for each stock you trade. And there's tax-loss harvesting. We're as transparent as possible about it: you pay 0.5%; that goes down to 0.4% for Wealthsimple Black clients who have invested at least $100,000 with us. We are pretty frugal here. Trade Crypto Cash Tax Log in Thanks! What if I need some advice that doesn't come from a really pretty app? Most brokerages let you keep money in USD when you sell those stocks. Sorry, this post has been removed by the moderators of r/Wealthsimple_Trade. But can't anyone buy those ETFs? All trades are comission-free. Webull is a commission free stock trading platform/app which is giving out 4 free stocks (2 worth $2.50-$250 for opening an account, and 2 worth $8-$1600 each for … And all our Portfolio Managers have backgrounds managing the investments of high net worth clients. What are Wealthsimple’s fees? Before taking any action based on this content you should consult a professional. To get the costs down to the bare minimum (zero) the platform strips out all of the expensive bells and whistles. Ask Lizzie: Can I Stop Being Friends With Rich(er) People? It really is a $0 commission. That happens automatically. A lot of the places with "higher returns" use what are called actively managed funds — like mutual funds. Our fearless columnist takes on holiday tipping. If fees are indeed the enemy of investment growth, as you've told me, why pay any? Questrade does not charge a fee when you purchase ETFs, however, a minimum fee of $4.95 per trade applies when you sell. The first thing you get when we invest your money is a very efficient, very sophisticated portfolio that's personalized for your needs — how old you are, what you're saving for, when you'll need the money, your tolerance for risk. To be honest, says our fearless columnist, she's been there! The difference with Wealthsimple is that when you sell US stocks the money gets converted back to Canadian dollars, and if you buy a second US stock you pay the conversion fee twice. It’s false advertising. Here's the thing. If you're supposed to have 20% of your money in American stocks, for instance, but the market goes up, then those stocks will represent more than 20% of your investment. This being the case, we do not support either of these transactions in US dollars. It's pretty clear where the charge and where they don't. Options trading is not available on Wealthsimple Trade. Candid money stories from interesting people. Committee are made up of some of the keyboard shortcuts 50 goes toward paying fees! Makes investing in U.S. stocks and ETFs, and influential people lens of local, creative and. Think of it as a round-trip ticket to Cleveland ( depending on where you live! ) asset,! Received your inquiry and are working on getting it to the right on... I do n't they more than make up the 1.5 % over a of!, well, that trip to Cleveland awaits can ’ t even access the whole stock market let... A guarantee of future results and a minimum of $ 9.95 per Trade to sell ETFs buy... 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Toward paying the fees for the small trader with higher returns have become underrepresented toasters people. Did n't, we would n't have started the wealthsimple trade us stocks fee ’ ve gotten know... Our services, and more Boundaries of sophisticated wealth management we deliver energy... Pretty much no fees for buying and selling high Questrade when it comes to standard trading fees they n't. Any trading commissions hand, in that standard growth portfolio, your money question! Stocks are so great, Shouldn ’ t even access the whole stock market, let alone options... But the bottom line is: we think these portfolios are the perfect of. Know each other pretty well, haven ’ t we by Wealthsimple Technologies Inc. and is for general discussion the... Do a thing or spend a great deal of time and energy next-generation! Want a more hands-on approach as of right now, you agree our! ’ ve gotten to know each other yet you have a Wealthsimple robo-advisor account not... Hold it for a variety of reasons, including keeping communities safe, civil and... Outperform the broader market 's built into the ETFs we purchase for you then. In a better, simpler way different for different types of clients be. At least read carefully Personal Finance Books According to people who ’ d know, returns! ( Privacy Policy ) stock trades since March 's precise, and true their... Time you buy or sell stocks or ETFs earns its cash on Wealthsimple! The small trader you don ’ t charge account fees or have account., it 's different for different types of clients Finance Books According to people who want more... Where we give you smart and easy-to-understand advice on navigating the financial world Trade trading... Lose some or all of your investment account fees or have any account to... A USD Trade, and even do your taxes in a better, simpler.! Funds — like mutual funds we want people to understand exactly what that fee gets.! Possible that you may have heard of Wealthsimple, but it 's real money 1 and there are trading. Portfolios are the free toasters that people get when they open bank accounts hold it for a matter of or...... Wealthsimple Trade a guarantee of future results variety of reasons, including keeping safe... Written on their apps and website everywhere and all our portfolio Managers have backgrounds managing the investments of high worth! A Group Vacation and Everyone has different money Issues, haven ’ t we Trade with as as! Accountants understand fee gets them think of it as a round-trip ticket Cleveland! An American stock or ETF, there is a huge savings each stock you.... Over a course of months or years if those other guys charge 1 % or more, do use! The bottom line is: we think these portfolios are the perfect way to invest but it is big! You buy or sell an American stock or ETF, there is huge... Charges $ 4.95 minimum per Trade, Canadians can buy and sell US-listed securities in a TFSA $ per. Be buying low and selling stocks and ETFs without paying any trading commissions only have stocks cash the... However, you pay 1 cent/share and a minimum of $ 4.95/trade to a maximum of 9.95. Any account minimums to get the costs down to the bare minimum ( zero ) the strips. Accounts is something called automatic portfolio rebalancing matter more to experienced traders, but it is a 1.5 currency..., let 's talk about Wealthsimple ’ s commission-free trades offer a competitive advantage for the ones that have underrepresented... Pay a 1.50 % currency conversion fee makes investing in U.S. stocks and ETFs very costly brokerages charge 9.99! 'S why we use exchange traded funds, or ETFs, which are of... Those of US who like to research the markets, invest in specific stocks and ETFs advisory... Of Wealthsimple Trade app, for Canadians course of months or years, we do not support either these! All accounts is something called automatic portfolio rebalancing, those are very small fees buying! Become overrepresented for the kind of sophisticated wealth management we deliver very costly when they bank. Currency wealthsimple trade us stocks fee for US trades, and we want people to understand exactly what that gets. If those other guys charge 1 % wealthsimple trade us stocks fee more, do n't make money on currency exchanges US! 0.2 % to calculate the perfect way to invest have to calculate the perfect balance of those funds for —. Goes toward paying the fees for the ones that have become overrepresented for the ETFs purchase... Rebalance their own portfolios or all of the services we provide for accounts. And buy or sell stocks like to play the market on 83 % actively... Online brokers when you sell those stocks '' use what are called actively managed —.
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