3/16/2023 0 Comments Best trading platform![]() FX Conversion Fees: 1.5% (free for Plus Accounts).$50 cash bonus when you invest with Wealthsimple Trade.Offers a Premium upgrade with real-time market data.Compatible with TFSA, RRSP, and non-registered personal accounts.Highly rated Mobile App (3.9/5 rating on the Play Store and 4.7/5 on the App Store.High-Interest Savings Account (Wealthsimple Save).Robo advisor service (Wealthsimple Invest).Additionally, all assets are protected by the Canadian Investor Protection Fund (CIPF) for up to $1 million per trader. Wealthsimple is a very secure platform that is regulated by the Investment Industry Regulatory Organization of Canada (IIROC). For comparison, free accounts are charged a 1.5% conversion fee for every transaction involving the USD. If you trade a lot on foreign markets, it may be worth considering their Plus account – it has a higher instant deposit limit of $5,000, and for just $10/month, you can create a USD account and save up on currency-conversion fees when purchasing stocks or ETFs. The free accounts come with no trading fees, up to $1,500 instant deposits, and access to fractional shares and real-time snap quotes. ![]() ![]() Wealthsimple Trade offers two account types for new investors: a Free Account and a Plus Account. Wealthsimple Trade offers Canadians access to thousands of stocks and ETFs in the largest exchanges in the world, including the NYSE, NASDAQ, and the Toronto Stock Exchange (TSX). Launched in 2019 as part of the Wealthsimple family, Wealthsimple Trade is Canada’s largest online investing and trading platform, with over 2 million active users. Account Management Fee: $25 per quarter.Options Trading Fees: $8.75 + $1.25 per contract.ETFs Trading Fees: $8.75 per trade (select ETFs are free to trade).Stocks & Mutual Funds Trading Fees: $8.75 per trade.Compatible with FSA, RRSP, RESP, margin, and RRIFT accounts.Access to advanced charting and technical analysis from Morningstar experts.Mobile app available on Android and iOS devices.I’ve personally used Qtrade for years, and I can’t recommend it highly enough. Qtrade is compatible with FSA, RRSP, RESP, margin, and RRIFT accounts, making it a flexible account ideal for several stages of life. It has an entire suite of research tools, including PortfolioSimulator-a demo account that allows you to test out portfolios in a risk-free environment-and PortfolioScorer, which calculates the overall risk of your portfolio and sends you a customized summary with recommendations. Qtrade is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and the Canadian Investor Protection Fund (CIPF), which means your funds are protected up to $1 million per investor.
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