I personally use both services and the result of my Wealthsimple vs. Questrade comparison is that both financial institutions offer Canadian investors access to some of the best investment platforms in the country. You can buy and sell your own investments (also called DIY Investing)2. It’s all automated. That’s right, $0, and a first in Canada. Wealthsimple’s iOS app is easy and intuitive to get started, checking your balance is easy and one-tap, it’s secured with face id and two levels of encryption for enhanced security, portfolio options to invest in are extremely good and beneficial to one and all.Overall, Wealthsimple is a one-stop solution if you are looking to invest your money through small incremental investments through spare change or to transfer your existing TFSA’s and RRSPs and contribute weekly or monthly thereafter.I’ve covered my complete and in-depth review on Wealthsimple here – Also, If you want to check out my complete and in-depth Alright then, in this article I’m going to talk exclusively about Wealthsimple Trade and will try to answer as many questions you may have when compared to Questrade. Help spread the content. If you like to use drawing tools on your charts or expect a lot of essential stock statistics available in one place, this platform is going to leave you wanting. However, if you’re making trade decisions based on stock tips from friends & strangers, or just going on a hunch or a feeling, you’re not investing, you’re gambling. Leaving information out just makes it harder to navigate, not easier!Getting started with Wealthsimple trade is ridiculously easy, particularly if you’re already a Wealthsimple customer. 1. In the meantime, it’s lagging behind larger brokerages that do offer registered accounts.Wealthsimple Trade lacks the functionality and trading tools native to other brokerages. This is the perfect low-cost option for young investors or people who don’t have a lot of cash on hand but want to try their hand at managing their own portfolio.Unlike the Wealthsimple robo-advisor platform, Wealthsimple Trade is a self-directed portfolio. Questrade has long been known as the top discount brokerage in Canada due to its low fee structure, free ETF purchases, and stock trading for as low as $4.95. Awesome customer service when you need – Questrade’s customer service is too good when you need them6. Wealthsimple Trade is an entirely self-directed platform which allows it's users to have complete control over the purchasing and selling of assets within their accounts.
Why would you want a DIY self-directed portfolio? Last but not least, the Wealthsimple Trade platform is a division of the Wealthsimple Trade will charge you a $0 commission on all of your stocks and ETF purchases. in Chemistry from the University of Alberta, MBA in Finance from the University of Calgary. Both of them also help you to save on fees!Questrade is the undisputed choice of online brokerage for active traders who want to save on fees while getting access to robust market data and research capabilities.And, Questrade now offers its own highly competitive robo-advisor service in the form of This Questraqde vs. Wealthsimple comparison will explore the various services they offer, their fees, investment strategies, investment products you can trade, account options, perks, and their pros and cons.Of course, this post won’t be complete without our exclusive promo codes and links to save on either service if you go ahead and open an account.Wealthsimple is Canada’s most popular online wealth management service Founded in 2014, the company now manages more than $5 billion in assets and also operates in the United States and the United Kingdom.Wealthsimple’s managed investment portfolios utilize a passive strategy that is designed to follow Nobel Prize-winning research.The low-cost ETF portfolios utilized by Wealthsimple are built to cater to investors with varying risk tolerances.
If you are new to Wealthsimple or don’t have much information about them – Wealthsimple is one of the best auto-pilot investment companies in Canada. He has a master's degree in Finance and Investment Management from the University of Aberdeen Business School and has a passion for helping others win with their finances. I considered moving my self-directed investing accounts from TD Direct to Questrade before ultimately switching to Wealthsimple Trade. The platform does not support that yet. This means no one is managing your portfolio for you. Wealthsimple Trade earns its cash on the 1.5% currency conversion fee when you’re trading CAD for USD stocks.