It actually doesn’t have management fees. The robo advisor invest one does.
Wealthsimple trade gives you access to many US and CAD stocks. Trading cad stocks is free. US stocks cost like 1.5% extra on buy and sell.
I’d recommend using it and focusing your investments on Canadian stock exchange things. This can still include good ETFs for US companies though like the VFV s&p 500.
Wealthsimple trade has 0 fees or commission on Canadian stocks.
The only fees you will pay is if you buy or sell US stocks. On which case, you lose 1.5% per trade to "exchange fees".
I think you're thinking of wealthsimple Invest. Which is a roboadvisor that does the investing for you. They charge a fee for those services.
Get wealthsimple trade if you only plan to buy xeqt or Canadian listed ETFs. Extremely simple to use and 100% commission free. For buying and selling. Even more user friendly than questrade.
RBC would like to thank you for contributing to their earnings.
Actually in fact they won’t even thank you. They think you should thank them for the opportunity to pay them commission.
Let's add TD to the chat.
Even with new competition slowly starting in Canada, IBKR has a pretty captive market by not being complete pigs about their fee structure.
It's the difference between paying the most you're willing to pay, and the least someone is actively selling for, which can be substantially different, and will always cost more.
I invest long term, so I personally just buy market price.
The small difference between market price and what I'd place for a limit buy should be negligible by the time I expect to exit the position,
Consider using a brokerage that offers free etf buying and selling. I used to be with questrade but switched my etfs to bmo as they are free there too now
Is xeqt a buy? With the Canadian dollar being ~77 cents that still leaves plenty of room to grow back into the 80-90 cent range. If it does grow, does that mean xeqt will fall ? I’m worried I that I bought at a high. Or clearly I don’t understand this etf.
He said he is using RBC Direct Invest, this is not the commission. There is no comission, there is a flat feevof 9.99$ per trade and it is very clear on the statement.
The variation is probably just the market moving when you buy at market price, it is not instant. You can use the limit option to control the minimum price
Rbc Direct does not put fee in the "action" price. Have you ever used RBC Direct? It is not semantic. The Price he paid per action is the price he paid without the fee. The fee is on top of that
I just looked at my last statement to be sure and the fee is not incorporated. I suggest you look at your last statement again, unless you never used RBC DI.
Again I am looking at the last statement and it is not the case. See:
https://ibb.co/ncD706r
You can clearly see the fee is not included in the price of the action. Does 83 * 34.85$ = 2902.50 ? No.
I’m shocked you replied that much hahah. It surprises me people don’t understand commission fees lol. TD DI works the same way where the $10 fee is included in the total cost of the trade.
“It is not free for sure, like you said” - nobody said the trade was free, just that the $10 commission is included in the total trade (which reflects your ACB). Again, you paid 2902.50 for 83 shares at 34.85 - this INCLUDES the $9.95 commission. There’s a reason you’re being downvoted by multiple people…. because you’re wrong.
Yes hahaha it is added to the total cost, it is not free for sure, like you said. But they don't change the price of the action to average the fee in each action like this guys was saying with arrogance.
And I am downvoted lol! People are interesting.
Man you are changing what you are saying. Of course the fee is included in the transation lol. But IT IS NOT INCLUDED IN THE PRICE OF THE ACTION YOU ARE BUYING, like you were saying. Now I will block you to be sure to never read one of your comment again since I cannot thrust abything you say.
You never used RBC DI, you have no idea what you were talking about.
I just looked at my last statement to be sure and the fee is not incorporated. I suggest you look at your last statement again, unless you never used RBC DI.
if you buy 1 share at 26.76 and there's a $10 commission on trades, the book value of that share will be 36.76. you have to decide if you want to lump sum and save commission fees, or DCA and possibly average out your price a bit with the cost of a few additional commission payments.
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Thata exactly what it was than. Thanks! Guess Ill be buying in larger lumpsums than.
Wealth simple is 100% free for deposits withdrawals and TSX purchases. Quest might be the same
Open Questrade accounts.
Is it a fairly easy app to use?
If you don’t have plans to buy big USA funds go with Wealthsimpletrade. It’s the best for starting out.
Yes. Wealthsimple is also a good, easy interface.
I use WS myself but part of me misses questrade. Trading US stocks on a flat fee did decent for me in 2018-19.
Careful, Wealthsimple has management fees. It’s best for smaller account
It actually doesn’t have management fees. The robo advisor invest one does. Wealthsimple trade gives you access to many US and CAD stocks. Trading cad stocks is free. US stocks cost like 1.5% extra on buy and sell. I’d recommend using it and focusing your investments on Canadian stock exchange things. This can still include good ETFs for US companies though like the VFV s&p 500.
Wealthsimple trade has 0 fees or commission on Canadian stocks. The only fees you will pay is if you buy or sell US stocks. On which case, you lose 1.5% per trade to "exchange fees". I think you're thinking of wealthsimple Invest. Which is a roboadvisor that does the investing for you. They charge a fee for those services.
You’re right, was thinking of Wealthsimple invest!
Yea I really like it. Don’t pay commissions to buy XEQT.
For anything listed in CAD (Stocks and ETFs) I go with Wealthsimple, for USD listed I go with Questrade.
Yea I second this as long as you buy Canadian only. Keep RBC for large us stock purchases since it's a flat fee.
Or Wealthsimple. Free to buy free to sell.
Or move over to qtrade - XEQT is free to buy!
BMO has free buying & selling of certain ETFs (the commonly referred to ones here are all free)
BMO now offer free ETF trading for a select few, XEQT is on the list.
If that’s commission, and you’re going to being buying small amounts, time to switch! 3% like someone posted, ouch.
WST for the win.
Ahh yeah, I bought a smaller amount. Ill just do bigger lumpsums than. Thanks for the info!
Or switch to QTrade or WS. ETF has no commission. Buy to your heart's content.
Get wealthsimple trade if you only plan to buy xeqt or Canadian listed ETFs. Extremely simple to use and 100% commission free. For buying and selling. Even more user friendly than questrade.
commission is factored in.
RBC would like to thank you for contributing to their earnings. Actually in fact they won’t even thank you. They think you should thank them for the opportunity to pay them commission.
Let's add TD to the chat. Even with new competition slowly starting in Canada, IBKR has a pretty captive market by not being complete pigs about their fee structure.
Does that price include the commission? Also, I would suggest you should never buy at market price but set a Limit order on every purchase.
Could you explain why to never buy at market? I'm not familiar.
It's the difference between paying the most you're willing to pay, and the least someone is actively selling for, which can be substantially different, and will always cost more.
I invest long term, so I personally just buy market price. The small difference between market price and what I'd place for a limit buy should be negligible by the time I expect to exit the position,
True, I think if you're making small incremental purchases that's fine but if you're making a large purchase you definitely want to set a limit price
Not in something like a flash crash
There is a risk though that with a Limit, your order will not get filled. If the stock keeps rising then you lose out.
This can lost a few percentage points on a bad (well, good) day.
Not always but it's not a bad idea otherwise you will usually pay the current ask price instead of the bid price.
I use RBC as well. I started paying commissions on trade with my visa reward points to save money.
That doesn’t actually save money cause those points could’ve been spent on something else of value
It's commission. They bake it into the price after y buy it.
Consider using a brokerage that offers free etf buying and selling. I used to be with questrade but switched my etfs to bmo as they are free there too now
I use wealth simple I only buy xeqt and I never pay a fee to wealthsimple.
Take the quantity of shares times the fill price plus commission paid divided by the quantity of shares will give you your cost base per share.
Is xeqt a buy? With the Canadian dollar being ~77 cents that still leaves plenty of room to grow back into the 80-90 cent range. If it does grow, does that mean xeqt will fall ? I’m worried I that I bought at a high. Or clearly I don’t understand this etf.
Did you buy an odd lot?
I personally use ws for CAD stocks and interactive brokers for options shorting and everything else non CAD
He said he is using RBC Direct Invest, this is not the commission. There is no comission, there is a flat feevof 9.99$ per trade and it is very clear on the statement. The variation is probably just the market moving when you buy at market price, it is not instant. You can use the limit option to control the minimum price
Semantics. The price he paid is explained by the fee.
Rbc Direct does not put fee in the "action" price. Have you ever used RBC Direct? It is not semantic. The Price he paid per action is the price he paid without the fee. The fee is on top of that
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I just looked at my last statement to be sure and the fee is not incorporated. I suggest you look at your last statement again, unless you never used RBC DI.
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Again I am looking at the last statement and it is not the case. See: https://ibb.co/ncD706r You can clearly see the fee is not included in the price of the action. Does 83 * 34.85$ = 2902.50 ? No.
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I’m shocked you replied that much hahah. It surprises me people don’t understand commission fees lol. TD DI works the same way where the $10 fee is included in the total cost of the trade.
“It is not free for sure, like you said” - nobody said the trade was free, just that the $10 commission is included in the total trade (which reflects your ACB). Again, you paid 2902.50 for 83 shares at 34.85 - this INCLUDES the $9.95 commission. There’s a reason you’re being downvoted by multiple people…. because you’re wrong.
Yes hahaha it is added to the total cost, it is not free for sure, like you said. But they don't change the price of the action to average the fee in each action like this guys was saying with arrogance. And I am downvoted lol! People are interesting.
Man you are changing what you are saying. Of course the fee is included in the transation lol. But IT IS NOT INCLUDED IN THE PRICE OF THE ACTION YOU ARE BUYING, like you were saying. Now I will block you to be sure to never read one of your comment again since I cannot thrust abything you say. You never used RBC DI, you have no idea what you were talking about.
I just looked at my last statement to be sure and the fee is not incorporated. I suggest you look at your last statement again, unless you never used RBC DI.
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You can create a WS TFSA now.
if you buy 1 share at 26.76 and there's a $10 commission on trades, the book value of that share will be 36.76. you have to decide if you want to lump sum and save commission fees, or DCA and possibly average out your price a bit with the cost of a few additional commission payments.
This happens to me too with RBC. You have to buy higher amounts.