Hey everyone! 👋 I’m currently contemplating a switch from Questrade to Wealthsimple, mainly because of their tempting 1% transfer offer. But I’m curious to hear your thoughts and experiences with Wealthsimple compared to Questrade. Here are some specific questions I have in mind:
– How does Wealthsimple’s trading interface compare to Questrade’s?
– Is their website and app user-friendly and intuitive?
– How easy is it to transfer money into Wealthsimple through various means?
– Can you easily execute Norbert’s Gambit on Wealthsimple’s platform?
– What about the fees – how do they stack up against Questrade’s?
Personally, I’m not a frequent trader and follow a simple, low-cost ETF strategy. I have both USD and CAD contributions, and I manage registered and unregistered accounts only – no options or margin trading for me.
Any insights or advice on making the move? Any pros or cons that I should consider before switching over? I’d love to hear your opinions and experiences to help me make an informed decision! 💡
I’m leaning towards Wealthsimple for now, but I’m open to exploring all options. Let’s share our knowledge and help each other out! 🌟
I just transferred my Tfsa and Rrsp from questrade to Wealthsimple and it was so easy and quick .wealth simple in my opinion is better. Commission free and you can purchase partial shares . What more can you ask for?
USD related has either a monthly fee or minimum portfolio status. That alone may benefit you with being in Questrade. Other than that WS doesn’t seem bad for you since you’re fairly simple
And Norbert’s Gambit is not possible on WS as per [https://help.wealthsimple.com/hc/en-ca/articles/4414660979355-Upgrade-to-USD-accounts](https://help.wealthsimple.com/hc/en-ca/articles/4414660979355-Upgrade-to-USD-accounts)
Questrade for free passiv subscription for me.
No Norbert gambit at ~~Questrade~~, apparently. Though I’m not sure if it can be done in their USD accounts?
Edit: argh! I meant to say Wealthsimple! My bad!
For me, Wealthsimple all the way. I just requested my last account transfer from Questrade to WS today.
I don’t invest in USD much, but when I do I use IBRK, so Questrade has no real advantages.
Their app and website UI are way behind WS, are confusing as hell, and they charge to sell ETFs. No fractional trading or automatic purchases and fractional DRIP either (that I know of).
Only 2 things I’ll miss from Questrade are the Passiv integration and the amazing PDF reports (way better than Wealthsimple’s), but I can live without those for a simpler app, automations, fractional trades and no fees from WS.
I’ve had accounts with both for several years. Was using Questrade with free passiv subscription for last few years, but just moved main accounts over to WS to take advantage of the 1% offer. Free money and I was more or less mirroring the WS allocations myself anyway
Do it. The UI is so much nicer
It’s platform is basic.
Guess what though. You can still use QT for everything, just place your trade with WS.
Or use advanced charting with Tradingview.
No fees trumps everything if you trade regularly.
I’m with both, they both have their advantages. QT allows me to have a self directed RESP and LIRA along with a free Passiv sub. Wealthsimple has a nicer, more user friendly app and allows me to trade fractional shares.
I’ve moved 95% of my funds to IKBR and Wealthsimple. Questrade was good but the $5-7 fees per trade was too much after a while.
WS doesn’t have self directed resp or spousal resp. Those I keep at questrade. Everything else is at WS
I thought you can’t do Norbert’s Gambit on wealth simple