Things to Know Before Using Wealthsimple Trade! | Why I Moved to TD

[@ArnoldLamYT]

Thanks for watching! Let me know if you have further questions about Wealthsimple Trade and my move to TD

[@tristanari4343]

You all prolly dont care but does any of you know a way to log back into an instagram account?? I stupidly forgot the password. I appreciate any assistance you can give me.

[@tylerjustinen-teite9194]

Wealthsimple does have USD accounts now, you need to have the premium version (10 CAD / month) - but being that there's not commissions, imo, it more than makes up for it :P Plus you can day trade ~10$ (hopefully haha)

[@user-uf8bk6lk2o]

Thanks mostly concerned about insurance coverage in case wealthsimple goes out of business, I noticed they are doing job cuts.

[@dlozanos]

HI Arnold, after this two years, you still thinking that WS is a good option? even the points in this video?

[@dirkoswald9102]

A well explained video, there are several platforms out there that can make investing easier for you, investing is essential and key to a passive income.

[@ethangavin5348]

Can't agree more, finding a comfortable platform is a personal journey and i think i am currently in the best hands investing with Edwin Earl.

[@ethangavin5348]

luckily i was also referred to him in the first comment of a much similar video kzbin.info/www/bejne/hqrUepKBg5d4gKc&lc=Ugw8uCS2Ni_Dujskf6p4AaABAg

[@Sam_pah]

​@@ethangavin5348 I'm sorry for the news Edwin Earl passing away,, was just having dinner with his wife and the family last weekend

[@nickdotlam]

Very clear, easy understanding, and informative. I liked to hear more from you. Good job!

[@ArnoldLamYT]

Awesome, thank you!

[@gene6867]

Well done Arnold. I was tempted to switch by a 0.5% transfer bonus, but I think the frustration with Wealthsimple would drive me nuts

[@funtimes7671]

Why I moved from TD to National Bank Direct Brokerage. Day trading and investing are two different things though, wealthsimple is amazing for investing and National Bank is perfect for buying American. All free of commissions.

[@Hughjanus09]

With national bank you can daytrade American etfs commission free?

[@niranmojo]

Very rare this video might be the only one where someone is talking about moving form their brokerage to TD direct investing.

[@FandomFinance]

Great video, very helpful. Wealthsimple just announced USD accounts coming soon :)

[@Lapis_Pylosiphorum]

Sure for a 10 dollar premium

[@ArnoldLamYT]

Glad it helped!

[@atoaster2070]

My understanding is that the $10/month fee only allows you to hold USD in your account, so you can trade US stocks without paying the conversion fee every time. HOWEVER, you need to have American cash on hand in the first place, and they will still charge you the FX fee.

[@monubhogal4839]

what you think of cibc investor edge? their fee is 6.95 to sell or buy. i am not sure about the USD.

[@robpet4424]

Td ? Why not Questrade?

[@imaginosdesdinova]

What I'm interested in is WS CDIC insured?... of course they claim they are but they are not a bank so it is kinda yes and no answer. In case of big bust krypto or/and stock market question is if they are covered?

[@kewlrunnings1]

They have Options, USD account, DRIP & Recurrent buying ETFs CAD or USD exchanges

[@hermes8258]

02:00 - I question the accuracy of what you say. Perhaps you mean you get your money back. It would impossible to 'get your shares back' if the issuing company (either the intermediary or the stock) is out of business 06:05 - WS now offers USD accounts. Not sure if you can deposit USD though (or whether they ding you an FXS fee or lousy rate requiring you to deposit in CAD first) Twice you mention day-trading stocks. This will not work with a TFSAs. Or rather you risk getting an investigation from CRA.

[@kr1958]

Wealthsimple also doesn't sell preferred shares

[@sarahsa-wc2fu]

why is the SIN requested to register??

[@pokiblue5870]

well TD..9.99$ per trade vs WS free comission its an easy choice. I sometimes do 40 trades in a month with WS can you imagine on TD 40x 9.99$… I buy US stocks on QuesTrade tho and just invest TSX stocks on WS. * I also check on another free platform when i enter a position so theres no 15min delay 🤓. I could buy i think 3$ or 10$ a month if i wanted Live quotes on WS

[@Laikame]

Hi am planing to open an hisa cash accounr on wealth simple but i bump in your video am thinking second thougt hows your cash account experience to them

[@mariod383]

They have USD accounts now.

[@---GOD---]

$10 a month can get you a USD account and real-time updates with WST. That's a single trade with TD. Two trades a month and you're already losing. The best option for US securities trading is Interactive Brokers. No competition.

[@ArnoldLamYT]

That’s true! WST introduced USD account trading a few months after this video was published

[@steven3474]

Why not have a wealthsimple and a td account?

[@ArnoldLamYT]

That’s a great point! That’s what I mainly do, use Wealthsimple for small CAD trades and TD for larger USD trades

[@steven3474]

@@ArnoldLamYT Thanks for answering me!

[@JevanSmith-g7b]

@@ArnoldLamYT why not use questrade instead of Td?

[@shunck1]

They opened an option for trading with a USD account about 5 months after this video

[@ArnoldLamYT]

That’s right!

[@Lapis_Pylosiphorum]

A Seriously unrelated question, HTF can ad agencies force ppl to watch something but even when 99.9% off ppl most likely click the skip button they still generate revenue

[@Lapis_Pylosiphorum]

It’s like wind shield wipers online and I’m only bringing it up cause I’ve been getting slammed with WS ads all year even though I been using it and honestly didn’t see a single ad prio to that WTF

[@Lapis_Pylosiphorum]

Not to mention I can’t remember the last thing time an ad actually got me and maybe I’ve grown senile but since I was young I actively avoided products I seen in ads just cuz the ad was so consistent or persistent so how the F don’t profits decline when so many ppl think just to spite unless maybe I’m the only person in the world that to do so and the vast majority are really just sheep heads

[@Lapis_Pylosiphorum]

Was planning on transferring my shares to Quest trade just outta spite cause I’m sick of the WS ads at this point

[@Lapis_Pylosiphorum]

I guess a better question is, how does an ad a fancy go outta business? Any insite into the topic would help

[@Lapis_Pylosiphorum]

I remember grade school so many teachers where convinced that McDucks was profitable cause they where so heavy in ads but I argued it was monopolizing most local areas & despite that if you really took in there ads compared to the real thing there’s a huge cause for false advertisement plus there law team would just gymnastics around any and all claims weather it be monopoly or FA but what does any one that’s not my own thoughts think? Does McDucks ads generate more or less revenue then the cost of creation

[@paisano4297]

No more td for me. $10 comission +$2 for paper confirmation. I don't fall for 50 free comission too.

[@ugojazzy7812]

No doubts , a good way of growing and saving your money is through investing . You don't need to have much before you can invest. That little money you have now can make you millions if you invest it wisely. I wasnt financial free until my 40’s and I’m still in my 40’s, bought my second house already, earn on a monthly through passive income and got 4 out of 5 goals, just hope it encourages someone that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing is a grand choice I made

[@Alexedmartin]

I was struggling to decide what to do with a good amount of money in the bank doing nothing. I would be happy if you could advise me, as I am ready to go the passive income path

[@ugojazzy7812]

I wholeheartedly recommend Regina Louise Collaro, a distinguished financial advisor based in the US. Her collaboration with an international organization has been pivotal in my financial success. Regina's expert guidance has not only supported me consistently from educational investments to planning for retirement, but it has also played a critical role in significantly enhancing my wealth. Finding the right financial consultant is as vital as choosing the right life partner-both decisions shape your future profoundly. I feel incredibly fortunate to have Regina as my financial consultant, who has truly transformed my financial landscape and helped me thrive financially

[@Alexedmartin.]

That's great; your investment advisor must be really effective! I've heard from others how helpful investment advisors can be in improving financial stability. Could you share more information about this advisor?

[@ugojazzy7812]

you can easily find her information by doing a quick search. Feel free to reach out to her directly with any questions you may have

[@Rasheedmalik-kx5iy]

This is a shocker seeing Regina Louise Collaro is being mentioned here. I always had mixed feelings about hiring a lnvestment advisor. For the record, I started working with Regina in 2019, and she manages about 70% of my lnvestments, while I manage the other 30%. My philosophy is that I care more about my own money than anyone else, but she made me accept that they have wealth of information on current conditions and future trend

[@williamarbelaez5382]

What about QUESTRADE?

[@hinamirza7894]

Why not questtrade. It's half of the td .I have all three accounts td is easy but expensive wealthsimple for me canadian stock and questtrade for margin

[@ArnoldLamYT]

That’s a great point!

[@clarifyingquestions]

Can you do a 2022 TD Norbert's Gambit video.

[@roymcpherson1639]

Can someone answer this question?

[@nickienine252]

You’re gonna be spending more money in TD webbroker because when you transfer funds from you usd tfsa to cad you pay a higher conversion rate than wealthsimple... for example if you have $200 and you transfer it to cad and it’s 2% exchange rate fee you are going to pay $4... in wealthsimple if you pay a 1.5% fee ever time you make a trade you will pay $3 on $200 instead of the 4. Or is the exchange rate fee charge every time you buy or sell? Which would be equivalent to 3% also gotta consider that td webbroker charges you $10 USD per trade.

[@theresasmith1]

TD now wants $30,000 cash at all times in account . Royal $5000.00 .

[@fegalincolegne1161]

the 10 buck commison burned me

[@nathaniel5545]

same fr

[@fegalincolegne1161]

@@nathaniel5545 i had a 200 charge commission in 2 days f td

[@nathaniel5545]

@@fegalincolegne1161 yikes come to questrade you woulda spent 100

[@fegalincolegne1161]

@@nathaniel5545 yeah what about wealth simple?

[@nathaniel5545]

@@fegalincolegne1161 Wealthsimple has no fee if ur trading Canadian stocks but if ur trading New York stocks or any other country out of canada there’s a 2 percent portfolio fee each trade 😭 so no difference cuz most of the stocks traders buy are nyse and nasdaq

[@YuginSkolov]

They heard you ...

[@markuscwatson]

Your wish came true

[@ArnoldLamYT]

That’s right!

[@yoyosssss]

​@@ArnoldLamYTdid you switch back?

[@AnonymousStacker]

I moved my account from my TD to Weslth Simple and I'm already going back in a week. Wealth Simple is not good app. They are cheat and fraud

[@user-vn7tm5ht5g]

Why?

[@desjgr64]

Outdated information