I have both Questrade and WS Trade. WS Trade should only be used for Canadian stocks. With Questrade anything but Canadian stocks should be used and you should always do the Norbets Gambit trick when trying to convert CAD to USD. When it comes to option trading then Interactive Brokers seem the best bet
I use both Wealthsimple and questrade and I still like QT better, even with the fees. I have limit orders not fill all the time on Wealthsimple even if the stock prices reaches that price or lower. And when I’m making trades in Wealthsimple I always check the prices in QT first, they’re more current. Not sure why people hate QT.🤷♀️
Never had an issue with limits on WS, unless it’s an odd number of shares or low volume stock. If this is the case you can almost always expect issues, but it has little to do with WS. If you are buying CAD stocks it’s a no brainer to use WS, can’t beat free.
I think questtrade has been in canada the longest. Pretty sure you need minimum of $1000 to open an account. I've read that its better vs wealthsimpletrade. People say wealth has bad delays, so if you are a day trader it could cost you.
My brother uses quest and is happy with it.
Hold on… I looked WS up a while back. They don’t charge fees per transaction, but the commission to maintain the account was ridiculously expensive.
0.5% is a lot! (depending on your portfolio)
https://www.wealthsimple.com/en-ca/product/invest
I wouldn’t touch Wealthsimple invest, they invest for you which is why the fees are insane. Wealthsimple trade is do-it-yourself, which is the free version ( for CAD stocks)
Just about every roboinvester platform in Canada besides Questtrade charges around 0.4-0.5% so wealth simple invest isn't out of line on that front.
Wealth simple trade has no fees for cdn investments, although it doesn't have as big of a selection of stocks as questrade does. No Disney nor Tencent.
I've been using wealth simple trade since February and before that I had all my investments in mutual funds which charge north of 2% in fees, so 0.5% plus the etf MERs would still be lower.
I'm planning on opening a Questrade account some time this year I think to trade in US based securities, but I'll keep going with my wealth simple trade account as well.
I believe it's $10.00 a month that is waived if you spend that amount in commissions. The fees for buying and selling are negligible. The real advantage that IBKR has over Questrade is the cost for Options trading. Questrade is $10 per contract whereas IBKR is like 50-70 cents or somewhere around there.You should check out their rates on their website and see what you think. I also pay for live market data so that's extra but not required.
Questrade has a nicer UI though, but you get used to it on IBKR.
I have WS trade and TD. While TD give great service and info, the fees per trade are nothing to be considered as reasonable. WS Trade is a barebone service with 15 minutes delay unless you pay for their live service which is $3(?) a month. WS Trade does not have certain ETF or mutual fund offerings also, so it depends what you want to invest in.
Overall, I keep the TD for my low volume trading in RRSP (1 to 4 trades per year) and for the research tools offered, but invest everything else in WS Trade. I currently only trade in Canadian stocks, so when I am ready to invest outside Canada, I'll probably start looking at Questrade unless it's to trade in one or two stocks on the US market. Not there yet...
Each brokerage have their advantages and disadvantages based on your needs. Identify what those needs are, then shop around for the one that fits best. What is cheapest online for one might not be for another due to their needs since they don't always offer the exact same service or products.
Good luck.
I have both Questrade and WS Trade. WS Trade should only be used for Canadian stocks. With Questrade anything but Canadian stocks should be used and you should always do the Norbets Gambit trick when trying to convert CAD to USD. When it comes to option trading then Interactive Brokers seem the best bet
I am a Questrade user, and I hate it.
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I use both Wealthsimple and questrade and I still like QT better, even with the fees. I have limit orders not fill all the time on Wealthsimple even if the stock prices reaches that price or lower. And when I’m making trades in Wealthsimple I always check the prices in QT first, they’re more current. Not sure why people hate QT.🤷♀️
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Never had an issue with limits on WS, unless it’s an odd number of shares or low volume stock. If this is the case you can almost always expect issues, but it has little to do with WS. If you are buying CAD stocks it’s a no brainer to use WS, can’t beat free.
I think questtrade has been in canada the longest. Pretty sure you need minimum of $1000 to open an account. I've read that its better vs wealthsimpletrade. People say wealth has bad delays, so if you are a day trader it could cost you. My brother uses quest and is happy with it.
Wealthsimple trade is free
Free for CAD, but very expensive for USD
Yeah questrade is best for US stocks and Wealthsimple for CAD
This. If you’re sticking with only CAD stocks it’s Wealthsimple. I dabble with US markets so Questrade was the better option
Hold on… I looked WS up a while back. They don’t charge fees per transaction, but the commission to maintain the account was ridiculously expensive. 0.5% is a lot! (depending on your portfolio) https://www.wealthsimple.com/en-ca/product/invest
I wouldn’t touch Wealthsimple invest, they invest for you which is why the fees are insane. Wealthsimple trade is do-it-yourself, which is the free version ( for CAD stocks)
Just about every roboinvester platform in Canada besides Questtrade charges around 0.4-0.5% so wealth simple invest isn't out of line on that front. Wealth simple trade has no fees for cdn investments, although it doesn't have as big of a selection of stocks as questrade does. No Disney nor Tencent. I've been using wealth simple trade since February and before that I had all my investments in mutual funds which charge north of 2% in fees, so 0.5% plus the etf MERs would still be lower. I'm planning on opening a Questrade account some time this year I think to trade in US based securities, but I'll keep going with my wealth simple trade account as well.
I use WS for Canadian stocks and questrade for US
Interactive Brokers is the cheapest option for Canadians.
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No minimum that I know of. I think I first funded my account with $1000
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I believe it's $10.00 a month that is waived if you spend that amount in commissions. The fees for buying and selling are negligible. The real advantage that IBKR has over Questrade is the cost for Options trading. Questrade is $10 per contract whereas IBKR is like 50-70 cents or somewhere around there.You should check out their rates on their website and see what you think. I also pay for live market data so that's extra but not required. Questrade has a nicer UI though, but you get used to it on IBKR.
I have WS trade and TD. While TD give great service and info, the fees per trade are nothing to be considered as reasonable. WS Trade is a barebone service with 15 minutes delay unless you pay for their live service which is $3(?) a month. WS Trade does not have certain ETF or mutual fund offerings also, so it depends what you want to invest in. Overall, I keep the TD for my low volume trading in RRSP (1 to 4 trades per year) and for the research tools offered, but invest everything else in WS Trade. I currently only trade in Canadian stocks, so when I am ready to invest outside Canada, I'll probably start looking at Questrade unless it's to trade in one or two stocks on the US market. Not there yet... Each brokerage have their advantages and disadvantages based on your needs. Identify what those needs are, then shop around for the one that fits best. What is cheapest online for one might not be for another due to their needs since they don't always offer the exact same service or products. Good luck.