USD Accounts LIVE On Wealthsimple Trade! Everything You Need To Know

[@lucky247365]

What are your thoughts on how this stacks up against TD's new offer of 50 free trades and no account fees, including USD accounts and real time quotes? Or National and their commission free offerings?

[@TheFireGrind]

I think TD's new offer is actually very enticing. Considering trying out their platform and may make the switch. I'm not a heavy ETF buyer so its not a big deal to me that I can only buy TD ETFs

[@deadly134]

what about us stock dividends do they go into the usd acc?

[@jessicawiley7991]

Sorry for writing you, just out of curiosity your page come up on my suggested friend lists so I was just wondering if I knew you from somewhere?!!!

[@suryaprakashtoy]

What do you think is better ? Buying CDRs of US stocks or buying US stocks directly with wealthsimple plus ?

[@TheFireGrind]

Buying the US stock directly with wealthsimple plus. It will give you the best pricing imo

[@suryaprakashtoy]

@@TheFireGrind Thank you 😊

[@digil842]

I have one question, If I already own US stocks like aapl before this premium was available in welathsimple, can I sell it and chose the money to go to USD account? Or will it exchange to CAD and I need to manually transfer it to the USD account?

[@KaYungCalebLai]

only makes sense for smaller accounts. If you have an account with 500k+, the exchange fees will kill you already. Better just use Norbert's Gambit with regular brokers.

[@kashifjaved3883]

Hey there's any platform like we bull here un canada where we can trade from 4am till 8pm?

[@binginghere]

Wondering if you have any pointers on what's the best platform for transferring USD directly for a US account to invest?

[@TheFireGrind]

Questrade is able to take USD deposits from my experience. I'm not too sure about other platforms at this point in time

[@Andy-xq3ut]

Keep your eyes open and be sure to track your purchases before going premium if you haven't yet. I had many usd holdings prior to going premium and receiving the new usd focused accounts. Since then I've noticed several of my holdings that were converted, have their averages bumped up significantly. More then 2 weeks now and it still claims my Apple average is 249 LOL. Little bit worrisome

[@dassensawmy2832]

Thanks a lot for your video. I have a question I have an account with wealthsimple is it possible for me to buy US stock on it or should I go questrade ?

[@TheFireGrind]

You can buy US stocks in the regular account but you will just need to pay exchange fees each time you buy and sell. If you have the USD account, you just need to pay the exchange fee once and you can buy and sell in USD

[@MiiDev69]

Can I move my current holdings from Questrade to Wealthsimple?

[@TheFireGrind]

yes you are able to. You will just need to fill out a form. There are guides online on how to transfer from an external account into wealthsimple

[@fl4tbxr]

Would Basic make more sense for a long term investor (10+ yrs) that only buys and holds US stocks? (No selling)

[@TheFireGrind]

Yes I think it makes more sense to stick with the basic account. better yet, you can move to TD easy trade or national bank's brokerage because they have USD accounts AND free stock trades

[@cluezybluez]

Some clarification would be helpful. If you have to pay 1.5% to convert cad to usd then have to pay 1.5% again to convert usd to cad to withdraw your money, what is the point of this subscription exactly? I'm still paying 1.5% regardless

[@GelombangMarket]

I have same question like this…,hope anyone can answer this question

[@moufou4life]

May sound dumb but are all US stocks now available in wealthsimple now?

[@TheFireGrind]

Depends on what you mean by ALL US stocks. US stocks on the major exchanges are available (possibly minus Disney and stocks in the same category as them

[@moufou4life]

@@TheFireGrind ah thanks for the answer 🙏

[@clementcle130]

The 1.5% is still too high even with the Plus or Premium account, which will be doubled when you need to convert USD back to CAD in future. So I will only buy CDR version of those US stocks if available, and only convert to USD to buy US stocks available in USD only. By the way, the Canadian stocks are really too inferior to the US stocks.

[@kennethlau2034]

I don’t see the conversion fee 1.5% feee. I just see righr now 1.41 exchange rate to USD.

[@martybrown-vaughan8082]

How do I get this as a existing weslthsimple user?

[@TheFireGrind]

you should see a pop up in the coming weeks that will enable you to sign up

[@TheFireGrind]

Are you going to sign up for Plus? (sign up for wealthsimple trade and get $50 wealthsimple.sjv.io/0rEmL) UPDATE: Snap quote are no longer only for Plus members but all users will have access to this feature

[@jerichoaliguyon8478]

How come I still don’t have this option on my wealthsimple account

[@TheFireGrind]

I think they are slowly rolling it out. So not everyone will get it at once is what I'm told

[@MVRK900]

@@TheFireGrind yeah that seems to be true. I still don't have the option. Waiting patiently 😇

[@CharleeWayne]

Currency conversion is instant?!

[@TheFireGrind]

Yup it was instant for me

[@ibnawf112]

... how about inactive fee?

[@TheFireGrind]

there are no inactive fees

[@TraderPulse]

Oh I didn't know it just launched today, I thought it was out for a while now

[@TheFireGrind]

I was told that they officially started their soft launch today. The news about it came out a while ago though

[@alifasha3017]

Thanks 👍

[@jimmylimb]

0 conversion and 0 trading fee? Hard too believe. no Conditions Apply.

[@jannatykhan2379]

One of the worst app I swear for US stocks! I am plus subscriptions member. I invested $10400 in Cad and converted in USD and invested on stocks got profit around $90. When I am trying to get conversion rate it was showing me $10050 which is less then I invested.!!! I am extremely frustrated with thier customer service. Do they really answer phone calls? do they take seriously us really! Never ever take calls and don’t have any knowledgable agent to help us in the chat! Literally fed up of using thier services and paying on top of that nothing! Loosing money for ridicules amount of paying convert rate and guess what no one is there to explain what is going on!! This is my last month. Thier stupid agent is hanging up call on the face also!!! Please do yourself favour and don’t use this app again!

[@wallyg8020]

Yes 🥰

[@CanadianDividendInvesting]

Finally!

[@TheJoeMoneyShow]

Cibc better forget it

[@josephmikekemo1967]

Its like you all havent heard about national bank lol

[@TheFireGrind]

Whats your opinion on national bank vs wealthsimple trade? It seems like you favour National so I'd be curious to hear your reasoning (my assumption is no monthly fee right now)

[@nicholasmorin440]

@@TheFireGrind I also use National Bank. I do it because the annual fee can be waived easily. From there it's a zero commission brokerage where you can use Norbert's Gambit.