Fees are the enemy of investment growth and wise investors do whatever they can to eliminate as many as possible. How much do I actually save at Questrade vs Wealthsimple? The added cost of ECN or ATS fees are minimal and should not be your main focus when choosing an online broker. Wealthsimple Invest is an automated investing service that manages your investments for you — including your RRSP and TFSA — using a personalized portfolio of low-fee exchange-traded funds. It's only good good for playing in the Canadian kiddie pool. Assuming 0.85% MER at wealthsimple and 0.15% MER at Questrade, the difference is about 0.70% MER, that's 7$ per 1000$ invested per year. You may also be charged an ECN fee if you trade a “non-marketable order,” which is a technical term for any order not in a multiple of 100 shares. Wealthsimple Trade makes money on currency exchange fees for US trades, and we plan on launching premium features in the future that will likely carry fees. (calculation: 0.7% *1000$ = 7$) But Questrade also has commission fee to sell and (negligible) ECN fee. Yes! level 1. The fee is when you buy US stocks there's a 1.5% conversion fee. The TD Direct Investing online discount brokerage is amongst the most popular of Canada’s online discount brokerages. If you put in an order to buy or sell 50 shares, this type of order is a non-marketable order and will be charged an ECN fee. * That being said, there are also some transactional fees to be aware of, which you can view on our full pricing schedule for the platform here! Win win. For example, on Questrade, the ECN fee on Canadian securities of $1 and above is $0.0035 per share. And the market data is delayed by 15 minutes. Report Save. Wealthsimple Black. This is especially so if they already offer low or no-commission trading. An order of 100, 200, 300, etc. Good for buy and hold. For example, many low-cost firms charge an ECN (Electronic Communication Network) commission fee of $5 to $40 per 100-share trade. Wealthsimple also offers savings accounts and provides financial advice. If that's what you're looking for, please click here. ... No commission (except ECN fees) on etfs. QT has real-time quotes and dual-currency accounts, but levies commission + ECN fees when selling. I'm currently with wealthsimple but I'm interested in the other ARK etfs, namely ARKG and ARKW which they don't have so I'm thinking of opening a questrade here in Canada but wanted to check that these were available, any help appreciated! It really is a $0 commission. For an order of 100 shares, this cost translates to 35 cents. 3. Introducing CDIC for your Wealthsimple Cash account. As one of Canada’s largest companies and a brand … This is a VIP general investing account with provides lower fees (0.5% management fee and an average 0.2% fund fee) when you deposit more than £100,000 across your Wealthsimple accounts. share. Wealthsimple Generation Reply. TD has consistently been on the forefront over the last decade as investors have moved from expensive “full service brokers”, to the much cheaper discount broker model that we see today. And also be aware of niggling little costs that add up quickly, such as ECN fees and “inactivity” fees. DON’T use Wealthsimple Trade if: You want to trade U.S or … Fees: Commission-free ETF and stock trades Wealthawesome Score: 4.4 / 5 Platform Available On: Desktop, iOS and Android Research Tools: None How to Open an Account: Link here DO use Wealthsimple Trade if: You only want to buy and sell ETFs or stocks traded with Canadian dollars. Less so for active trading. 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