Just2Trade Review Investing com CA

wealthsimple trade account
online broker

Another one of our top choices, https://forex-reviews.org/, offers things like free CAD electronic fund transfer up to $50,000.00. Oanda charges lower financing costs when compared to margin interest rates at some Canadian brokerages. For example, as of July 13, 2022, the annual long rate for the S&P 500 was 4.03%. While that’s higher than brokers like Interactive Brokers, it does give you access to leverage not offered by other brokers. You can fund your account with a credit card, debit card, or by wire transfer. There are no deposit fees, however, some credit cards may charge a cash advance fee.

Robinhood, SoFi, and Webull are the lowest commission brokerage accounts across stocks, ETFs, options, and cryptocurrencies — they don't charge commissions.

They invited users to join a wait list and, once they attained a critical mass , rolled out a beta version for users to test the platform and offer feedback. I think Wealthsimple Trade is perfect for investors who are starting out and want to invest their contributions of a few hundred dollars every other week. In other words, if you are only buying a few shares of a stock each time, Wealthsimple Trade is perfect because you don’t have to pay any trading commissions. Furthermore, Wealthsimple Trade also allows you to purchase fractional shares on certain stocks, allowing Canadian DIY investors to slowly build up their portfolio over time. Although you can hold money in USD and CAD, Questrade charges 1.5% to 2.0% in currency conversion fees if you buy US listed stocks with your CAD.

Account Minimums

Please do not even consider doing just2trade forex broker with this company as you are risking the loss of significant amounts of money. Market volatility can make investors prone to rash, emotionally driven decision-making, and it’s easier to give in to that when you can make trades with a single click. Needless to say, if you’re going to be moving your money—no matter how small the amount—through an online platform, you are always concerned with security. Take comfort in knowing Wealthsimple’s products, including Wealthsimple Trade, are widely trusted. And the financial tech company has won multiple awards for its service.

  • Fees aren’t the only factor to consider, but they are certainly one of the most important.
  • The account fee for registered accounts is $100 per year if the account balance is less than $25,000.
  • Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate.
  • I’m very pleased to use your signals and make good money.

If you read something you feel is incorrect or misleading, we would love to hear from you. MoneySense is not responsible for content on external sites that we may link to in articles. MoneySense aims to be transparent when we receive compensation for advertisements and links on our site .

How to buy stocks and ETFs on Wealthsimple Trade

You cannot trade options and preferred shares, for example. For the most part, this limitation is fine for most DIY investors. Self-directed investing can be cheaper, as investors can build their own model portfolio of ETFs without paying any additional management fees. But for investors who want some handholding and guidance, it can be well worth paying as little as 0.40% in management fees and allow Wealthsimple to take the reins. Wealthsimple Trade is made for clients to invest online in stocks and ETFs on their own with no guidance or support. Wealthsimple Trade is Canada’s answer to Robinhood.

This shouldn’t be an issue for most people since you should be using a spreadsheet to track your portfolio. When you look up a stock or ETF, the app gives you a brief summary of what the company or ETF is about. Once you find a stock you’re interested in, you can add it to your watchlist feature. When you’re ready to buy, the stock is yours with just a couple of taps on your phone. We’ll have to look into Desjardins Online Brokerage and perhaps add it to a revision of this article. I’m sure our other readers will take advantage of your advice.

Wealthsimple Trade FAQs

The “gotcha” fee is truly the 1.5% foreign currency conversion fee charged whenever you buy/sell a US-listed stock or ETF. This is because WS Trade does not allow you to hold USD cash. I’m a beginner investor that has a trade account with Wealthsimple.

While there’s no minimum to open an account, you need a minimum of $1,000 in your account to start trading. I really like that you can purchase ETFs for free. This allows me to buy a few shares of ETFs whenever we have some cash lying around.

Of course, if you’re not the “customer service” type, and simply want access to a great platform at the lowest price – then Questrade makes a ton of sense for you. Trading Central offers customers 3 tools for no annual fee. You will have access to NBDB’s Value Analyzer, with which you can look at valuation and company data, which can give you insight into potentially undervalued companies.

A traditional broker, sometimes called a full-service broker, is a person that invests in the stock market on your behalf. You give them direction and insight into your risk tolerance and financial goals, and they recommend investments and execute trades for you. BMO InvestorLine adviceDirect is a hybrid of both a self-lead broker with personal, objective recommendations from an investing expert.


Stock and ETF quotes have a 15 minute delay (i.e. not real time). This can be problematic if you’re trying to place market orders. This means you can buy and sell stocks and ETFs for free. This is the biggest advantage to Wealthsimple Trade.

Questrade vs. Wealthsimple Trade – A real user review

RBC does not offer other foreign stocks listed in other countries outside of Canada and the U.S. RBC Direct Investing covers up to $200 in transfer fees if you transfer $15,000 or more to RBC. IB is a great option for pro traders due to the wide variety of markets available.

  • I just opened a “joint” account with NBC Direct Brokerage account and the sign up process is clunky.
  • Wealthsimple has rolled-out desktop access for Wealthsimple Trade and Wealthsimple Crypto clients.
  • So, all these platforms considered, the users do have more variety to express their trading styles, but only in theory.
  • I have narrowed my top 3 to Questrade, QTrade, and Wealthsimple.

Can you transfer funds out of an RRSP to the linked bank account without any fees? Funds withdrawn before having to convert to a RRIF . And it cannot be done electronically – you always need to visit a branch or call it in to the WebBroker desk.


FT is the founder and editor of Million Dollar Journey (est. 2006). Through various financial strategies outlined on this site, he grew his net worth from $200,000 in 2006 to $1,000,000 by 2014. No, at this time NBDB does not allow customers to purchase Bitcoin, Ethereum, or other cryptocurrencies. Long time readers know we strongly recommend Qtrade, and for good reason. It goes against our guidelines to offer incentives for reviews.

Who is the biggest broker in Canada?

  • Questrade – Best Trading Platform.
  • Interactive Brokers – Best for Professionals and Active Traders.
  • Qtrade Direct Investing – Best for Long-Term Investors.
  • TD Direct Investing – Diverse Trading Tools and Great Education.
  • CIBC Investor's Edge – Transparent Fees.

It’s one account and they put the same amount in each time. I’m new to investing and trying to learn the jargon (so much!). QQC.F, ZQQ, and XQQ are listed on the TSX and are traded in CAD. A Wealthsimple desktop app for all account management – Although I’m a millennial, I prefer doing things on a desktop rather than on my phone. The book value isn’t shown (i.e. adjusted cost basis).

Is Just2Trade regulated?

Yes, Just2Trade is a legit and regulated broker.

Just2Trade which is owned by LimeTrading (CY) Ltd operates through its registered office in Cyprus and is authorized and regulated by CySEC.

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