Wealthsimple TRADE Review & Walkthrough | FREE Stock Trades Canada - Griffin Milks

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Wealthsimple Trade is a self-directed online mobile brokerage offered by Wealthsimple, which also offers a Robo-Investment service called Wealthsimple Invest and a high-interest savings account.
Wealthsimple Trade is a mobile trading platform (brokerage) that allows users to trade stocks and other financial securities listed on major exchanges on a completely commission-free basis. Wealthsimple Trade started off as a pretty barebones application, offering users personal cash accounts only. Since it’s inception, the company has added a ton of new features, including the option of opening and trading with registered accounts. You can currently select between Cash, TFSA, or RRSP. #Wealthsimple #stockmarket #FreeStockTrades
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[@GriffinMilks]

Thank you to every viewer for an amazing 2019! The channel is where it is at thanks to you, and I can't wait for what 2020 has in store! 📈 ► Get $50 FREE on Wealthsimple Trade: wealthsimple.sjv.io/yxYA3 📈 My FREE Investing Course (Previously $200): skl.sh/3ODk1tN -Griffin

[@vinG91]

the 1.5% fees is a huge nono can you imagine, i take a position of 2k on a US stock and they charge me 30$ fee when i buy and 30$ when i sell 60$ FEES > 99% of other brokers and if i sell at a profit they charge me even more because they calculate on the current amount i opened a account there but i gonna cancel it till they get normal fees or at least a method to convert and hold US dollar one time instead at each transaction

[@CarolinaJoseph01]

My life changed too when I started doing this and putting money in stocks. The first few years it as really great, but this year I haven't felt like my portfolio is doing well. I have lost more than $40,000 from my portfolio the past four months, and it's now very worrisome.

[@LindaPatricia02]

The year has been really rough for everybody. But I've been able to cushion the effect though. Have you thought of using an investment advisor? They can make you good money especially during uncertain times like this.

[@SusanNancy1]

Yes, I agree. I use a financial advisor too. Same person since 2020. I don't worry about whether the economy is going up or down or sideways. I always ride through.

[@ChristopherFrank3]

Oh, really? I have never thought of that as an option. Can I ask who it is you've been working with? I bet I could use some help myself.

[@SusanNancy1]

My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..

[@ChristopherFrank3]

Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.

[@lsx001]

2020: thank you for the wish, but the wish is not granted.

[@GriffinMilks]

Lol!

[@r4ti007]

Like fine wine

[@M.Hamidi.]

Thank you so much. I have been looking everywhere for a Canadian brokerage and a KZbinr that informs Canadians what's best for them

[@GriffinMilks]

Fantastic!

[@NickPeitsch]

The only free trading platform in Canada! Soon enough, the competition will flood into the industry.

[@GriffinMilks]

Agreed! Wouldn't be surprised if it was this year to be honest. Thanks for watching man!

[@dilpickel22]

NO fees on Interactive Brokers lite and you can buy USD which is really what you need makes it a far better deal with more powerful tools!

[@sebastiencarre2416]

@@dilpickel22 only for us citizens nah? how can you open an account as a canadian ?

[@debbiehazlett878]

@@sebastiencarre2416 Interactive Brokers has a Montreal office that offers their brokerage to Canadians.

[@Money.fanpage]

@@debbiehazlett878 would you say interactive broker is better than wealthsimple?

[@rudyando]

“Happy new year, I hope 2020 brings lots of joy, happy moments...” This didn’t age well at all.

[@GriffinMilks]

Well it was great in the markets!

[@luwamisaak2231]

be greatfull you are alive.

[@XavierSabo]

I know I’m not the only one coming here now

[@butterdog7055]

Nope

[@josejohn2328]

@@butterdog7055 gamestonk

[@mrschips]

this is just a pit stop on the way to the moon

[@SophieAnnaston]

Just signed up! Excited to get started. Congrats on 22,000 subscribers!🥳

[@GriffinMilks]

Thank you! Good job signing up

[@jahanviyadav2384]

We’ve to do Invest , trade or cash??????? Please help

[@juandiserrato6239]

What is the difference between buying stocks in a TFSA account to a personal cash account on wealthsimple? Thanks

[@Daywalker_27]

X2

[@GriffinMilks]

Check out these two videos I made on this exact topic: kzbin.info/www/bejne/bKDbp5l9pLiqiLs kzbin.info/www/bejne/aWKpmoKrrZummZI

[@davelamb3303]

Thanks for the video and showing actual use not just talking about it. All the best in 2020 to all, cheers!

[@GriffinMilks]

Yea I thought that was a necessary element for sure. Thanks for your continued support Dave! 👍🏻

[@camilleamaclean]

Just downloaded the app! Hella excited to start learning about stocks!

[@MarshmilloJB]

Hi Griffin 😃 Finally, a concise video about WST! I’ve been using the app for the past year, and it’s honestly lovely. Minimalist design, doesn’t try to profit from CAD trades, and no ads! 🥳 Now that stocks are down, time to buy like crazy ☺️ Thanks for the video! I’ll definitely be showing any friends that ask.

[@GriffinMilks]

Hi Jin, I’m glad you enjoyed the video!! Thanks for the support

[@myytacc4430]

do you buy and sell us stocks on wealthsimple trade?

[@MarshmilloJB]

@@myytacc4430 I do, and I only take profits. I never sell for a loss. Any loss would be multiplied by that day's exchange rate ;)

[@faithlover123]

Please help @jin b! 😓

[@IslamAhmedhrd]

Hi Jin, please share with us your experience with this App, how do you collect your profit and what if any time you decided to stop, how can you collect back your money that you invested?, any additional advices to consider if we want to start to use it please. also are you investing in companies that pay dividend.

[@arushbhai]

How responsive is wealthsimple's app for quick scalp trades? Lets say 5 seconds trades.

[@Jazzyn1zzl]

Do you need a TFSA account to trade? And why is it preferred?

[@AqibKingKhan]

If I buy crypto, should I purchase it from my TFSA account or the crypto account? Also if I purchase it from the crypto one can I sell it and put the cash back into my personal bank account?

[@lilynguyen4298]

Just opened a TFSA account with Wealthsimple. Thank you very much for the information.

[@GriffinMilks]

Glad it was helpful!

[@johnbaylon6637]

Just a quick question. If you accidentally put funds on your personal instead of TFSA, is there any possibility that you can move that funds to the TFSA ?

[@GriffinMilks]

Withdraw the cash and move it over. If it's already invested, you'll have to sell before moving over the funds

[@dannya3762]

Does WST have stop loss option? The 1.5% conversion fee only applies once when I buy a US stock using CAD, after that there isn't any fee right?

[@heinnaing2390]

Also, is there another way to transfer one tfsa into ws? Rather than wait the 5-6 weeks, can one transfer funds into a checking account and then transfer it over?

[@florush83]

How do you get the money from dividends? Were are they going to be deposited? In you app account or in you bank account?

[@GriffinMilks]

Dividends are deposited in cash into your trading account

[@florush83]

@@GriffinMilks shortly after I've posted the question, I received a dividend deposit in to my account. Thanks anyway!

[@kryspiniasty]

Great video, thank you! I've heard that trading within your TFSA may get a little tricky since CRA may ask you to pay taxes on your gains due to "day trading". How do you avoid that?

[@paolomanalo6103]

Sorry I might have missed it, but how do you sell your stocks? Is ot in this video?

[@nadiatyborowski6368]

I heard that it is better to open an RRSP oppose to a TFSA with Wealthsimple for trading because there is a higher withholding tax when trading with US EFTs for TFSA?

[@GriffinMilks]

See my TFSA mistakes videos.

[@khalidhalim7739]

Whats the time period between buying the stock and Actually securing the stock?? Please advise

[@GriffinMilks]

It depends on the type of order that you place. A market order is typically quite quick. Limit order depends on the terms of the trade

[@khalidhalim7739]

Griffin Milks I believe it’s 15mins delay for buying stocks via WealthSimple trade

[@FatSack0fCrap]

Yes. Yes. I understand some of these words.

[@kaceyjones7694]

Hey Griffin, looking to transfer my RBC account over to wealth simple trade. Thankyou for all the helpful info in the video! You didn’t mention the insurance of the company, what is covered and up to how much?

[@kaceyjones7694]

So I found my own answer to this CIPF covers up to 1’000’000 and it looks like they do not hold any extra insurance like Quest offers.

[@BC_Hunter]

So I have a large worth of TFSA trading account stocks with another institution. So I can transfer them to WS with no charge? Also, one of my stocks at that institution is a penny stock on the TSX. Will they transfer that one over too with the rest?

[@wasifkhan367]

Can you regularly trade with TFSA? I was told that CRA will peanlise you if you active trade with TFSA.

[@GriffinMilks]

Yea, watch my day trading in a TFSA video

[@GenExDividendInvestor]

Thanks.. Any thoughts on doing a video about your KZbin revenue from 2019?

[@GriffinMilks]

It may be something I would consider looking into. Not sure yet. Thank you for your continued support of the channel though and suggesting content ideas.

[@NickPeitsch]

Would love this!

[@middleeastbeauty8607]

So if I wanted to buy US etfs.. would you recommend going through the bank? Does the bank charge less fees for this besides the exchange rate fee ?

[@greendaydz]

Whats the difference between personal and tfsa ? Is there any free when using the tfsa ? Thank you

[@GriffinMilks]

No fee. Make sure to watch my video titled « investing accounts » to see the difference.

[@unavailableuser2999]

Bro, so unfortunate that I'm watching this video for the first time in oct of 2020. I started laughing so hard after the first 14 seconds..... If you only knew

[@chamiclement5878]

Hi I check . but I want to know when I sell which account they deposit the mony what I sell and how many days it's takes for the transaction. Thank you.

[@zackmcisaac2806]

So do they charge conversion fee both ways like converting to usd then again when converting back? Sounds like it could end up being more expensive to go that way rather then just paying the 10$ commissions fee in my rbc account. And do see it only really being beneficial for any positions on the tsx.

[@simonqi1525]

My question is if i already have a TFSA account with another bank and decide to open up a TFSA account on WS trade, will my total TFSA entitlement be the sum of the money i have in both accounts? Also, can is it free to transfer within the WS trade, like from personal to TFSA? Thanks

[@GriffinMilks]

Yes it's free to deposit funds from your personal account to the WST TFSA. Also, you can have multiple TFSA accounts with various institutions, so long as your total contributions accross all accounts don't exceed your available contribution room.

[@revans7240]

Can I transfer just a portion of my TFSA to wealth simple? I'd like to keep 90% with RBC and have 10% of my TFSA with wealth simple for short term commission free trades.

[@ryanlochte4816]

Hi Griffin, is this wealth simple trade only in Canada and US? thank you

[@GriffinMilks]

I believe so yes.

[@loveearth6863]

Hey. I have one question. For rental income expenses do i enter monthly expense amount or yearly amount. Because it calculate both but doesn't give any error or tip?

[@NoRushpk]

Id think this is a great idea for Americans as well! I like the CEO and the company's transparency. I don't want to be using Robinhood. Any thoughts on that?

[@harishpranavjagannath9599]

And another quick question: can you make pre-authorized contributions to your TFSA account on Wealthsimple platform?

[@GriffinMilks]

Yes you can

[@awetkb709]

How ?

[@vickyd7426]

I have an RBC Direct Investing TFSA. Does Wealth simple have TFSA Direct Investing if I transfer my account from RBC to wealthsimple?

[@LaughterSmith]

I have two questions for you, Sir. Since I'm new to Wealth Simple, when I buy a stock not on a Market Value but on a Limit Buy, when the US stock gets cancelled, will I still be charged an exchange rate, although the trade did not go through? My second question, I tried to buy a stock on a market value after the market closed at 4pm, next day, I was unable to buy that stock? Is there a way around?

[@graceucat2436]

Hi Griffin! Complete beginner here. I closed my TFSA account recently, can I use PERSONAL instead? Thank you for the videos! Very helpful.

[@GriffinMilks]

Why close the TFSA?

[@Jlindss]

how safe is this, what if they company tanks and goes bankrupt? would you lose your total portfolio and money?

[@GriffinMilks]

Great question Nathan. I believe Wealthsimple is safe, as the company is actually much larger than it may appear. Wealthsimple has been around for the better part of a decade and holds over 5 billion dollars in investor funds. Your funds are CIPF protected up to $1M in your account against bankruptcy. Finally, Wealthsimple is owner by Power Financial, which also owns Investors Group, the largest consumer asset management company in Canada. Good luck investing and thanks for watching!

[@kl9043]

2:55 is when the video starts for anyone looking (no offense to the creator, gotta please that youtube algorithm )

[@basednative271]

THANK YOU

[@aldwinapruebo5278]

I chose personal account in wealthsimple trade, is that okay?

[@zeidan2152]

Hi Griffin, how to know which stock to buy? Please explain, thank you

[@cindyxc.]

If I continue the order does that mean when the market opens it will automatically fulfil the order without me doing anything? What if I continue but decide to cancel the order before the market opens is there a cancel option ? Thank u

[@simrans.1859]

Could you please explain how the transfer of an existing account works? Do you lose the TD. Account then?

[@iodicacid2268]

Similar to a buy limit, is it possible to create a sell limit, where you can automatically sell the stock once it reaches a specific price?

[@TheAncientDuelist]

Can you have a td investment account and a wealth simple at the same time ? ..do day trades in wealth and have dividends stocks on the td at the same time going ?

[@ozeXpress]

I’m wondering this myself !

[@JirayaPotter]

Yes you can, I've done it

[@prayunceasingly2029]

Yes you can do both at the same time.

[@TheAncientDuelist]

Thanks !

[@prayunceasingly2029]

@@TheAncientDuelist You're welcome! I have 2 brokers which includes wealth simple trade. And a friend has two brokers, questrade along with BMO's stock broker.

[@juandudero2838]

Hey bro, can you rebuy shares that you sold? Specific interval of there's any?

[@519flips]

Hi Griffin how long does it usually take for funds to show up in your Wealthsimple account does the first time take longer

[@GriffinMilks]

It can take a couple days for your funds to transfer over. Totally normal. Thanks for watching and good luck with your investments :)

[@mbabcock111]

@@GriffinMilks totally normal is totally terrible, totally intolerable, totally unnecessary, totally annoying, and totally unsat... This transactional latency needs to disappear with an audible pop!

[@W111amw]

How Can I transfer my banking institution tfsa ( I’m with td) into wealthsimple trade tfsa ?

[@benoitdepeault9436]

What does it mean to pay a 1.5% conversion fee on USD financial securities? If I buy something to $1000 UDS (about 1333$ CAD), does it mean I pay 1.5% of the difference, so (1.5% of 333) = about 5 $CAD? And if so, does it mean that if you intend to make big transactions on USD financial securities you would be better with the fixed 9,50$ commission per transaction with TD?

[@andrewdixon681]

Much needed review! with robinhood and webull limited to the states, I appreciate this!

[@patrickbateman9547]

few questions 1) How is their customer service? 2) Would you feel comfortable having 250k on this app either invested or in cash? 3) How easy and fast is it to go from "sold the stock to in your bank account in cash"? Thank you!

[@swass1622]

I have checked their website , it's says funds protected by CIPF but i couldn't see wealth simple in the member directory of CIPF nor their website. Can you please confirm if they have CIPF. Thanks

[@GriffinMilks]

They are. It would be fraud to and incorrect advertising on their website if they were not.

[@小黄-h6c]

Is it worth to buy us stock on it? I see there's a exchange rate of x1.5 which is too high

[@GriffinMilks]

It’s definitely high if you’re doing in a lot. I would suggest questrade if you’re looking to do a lot of US stock trading. I made a full video review of it if you’re interested

[@Tekz12]

Can I have multiple TFSA's one at Questrade as well as one at Wealthsimple? There's nothing to worry about in Canada having more than 1 TFSA in regards to taxes?

[@GriffinMilks]

Hi Ken, you can have multiple TFSAs, as long as you don't exceed your contribution limit across all of them combined Cheers!

[@Tekz12]

@@GriffinMilks awesome, thx Griffin. Are there any promotionals with wealthsimple if you sign up?

[@Yotaciv]

I love the app for what it is. A simple and nearly free investment tool. 1.5% USD conversion fee. Ive noticed a few little cons, dividend % is calculated based off of last quarterly or monthly dividend x4 or x12. Skews if last dividend was above yearly average. The 15-30 minute delay in the morning. The lag on market data, on trades, and trade cancelling( not all that bad) It delayed cancelling by several minutes and bought shares into me now having -75$ to trade.

[@GriffinMilks]

Hi, great observations. I agree that it's still somewhat of a work in progress, but it's great for the time being. You certainly need other tools for further research, but commission free is such a huge positive.

[@sdiep9]

is it safe to trade on celphone? My cellphone is the old samsung galaxy s4. does it need any requirements for celphone? does celphone need to have virus protection to do the buy/sell transaction?

[@Punjabiinvestor]

If I have tfsa with td Can I open one tfsa in this app and stay under my limit!! Can I do that or I have to transfer all from there to here and open only one tfsa !!

[@bryfrench8421]

What happens if you flip stocks too much in a TFSA account on WealthSimple Trade? Say I make a $4000 year profit but made a ton of trades ..Will the CRA raid my account?

[@GriffinMilks]

You aren’t supposed to do what’s called “business intended investing” in a TFSA. Day trading is not permitted, and your account could get flagged, yes. Thanks for watching!

[@addybabs]

Hi there, do you have a referral code? I already created an account via the app. Thanks.

[@natalyamedvedeva8311]

Hi Griffin! I am new in investment. Can I buy IPO through Wealthsimple?

[@jean-felixpratte1908]

Can you transfert your money from the personal account to the tfsa account?

[@GriffinMilks]

Yes if it’s in cash

[@sammyvu220]

hi Griffin, i clicked into the link above to sign up to wealth simple to get the $50 but it doesn't let me do it. i was unable to click get started. not sure what s happening?

[@carrieliu8950]

Since the WS app is delayed by 10-15 mins from the real market time so if you were to sell your shares would it align with the price presented on the WS app or the actual market price that you are selling the price of the stock at?

[@GriffinMilks]

Hi Carrie, it would align with the market price.

[@Michael-kv5ff]

@@GriffinMilks with what web sites or apps can we see the real market price of a stock so what you're saying is if the price presented on the ws is 2.00 and the real market value is 1.90 it would sell for 1.90

[@qianwange]

Great video, really helpful! just wondering, can I buy mutual funds from wealthsimple platform? if not, how/where can I buy mutual funds? Also, what do you think of Asian market going forward? Do you have a video talking about it? thank you!

[@matthewsingh6178]

Hey Griffen, What account would be the best to open if I already have my rrsp and tfsa maxed out? I want to be able to buy and sell without worrying about over contributions. I'm looking to trade weekly, if there is anything you would recommend

[@leoncai6659]

I was wondering how the delayed data worked? If I buy a stock will it take 15 minutes to execute or will i buy it at the current (not delayed) price?

[@ravjtnkapoor1408]

Wealth-simple not working on iPhone 12 pro?

[@Penniez]

So is it better to invest stocks with rrsp or the regular?

[@GriffinMilks]

I would personally start with the TFSA. Make sure to watch my video on all the different i vestment accounts!

[@serenitynow9304]

Griffin can you please walk me through how to do an internal transfer on my trade app from personal to tfsa? The website mentioned using chrome or safari. Does this mean you can login to the account on a desktop pc?

[@cphu72]

Can you trade after hours or pre market with WealthSimple?

[@GriffinMilks]

No you can't for now

[@naiyapatel2602]

What's the difference between a Personal Account and a TFSA account? I deposited funds into my Personal account and bought stocks from my Personal account, is that okay?

[@akshaykeli199]

I never really understood how to go about this binary trading, until two months ago,when I came across Sir Samj..Avi he guided me and explained what binary trading,I decided to try investment,just so you'd know, I'm wealthy now, after I got my profit,I've made three other investment with huge turnout. He gives a better trading lessons and has accurate signals. My years of trying to earn profits out there has not been good to me until I knew Sir Samj.Avi+12063177288__w h a t s a p.+.1.2.0.6.3.1.7.7.2.8.8

[@akshaykeli199]

Olympliteforex@gmail,com

[@francismarcoux8944]

Can you buy the same stocks then robinwood

[@RippinBiscuits]

Exactly what I needed! Thanks! New investor here, starting my journey!

[@davidmavilla7501]

How does the delay work with seeing the actually stock prices?

[@nevillejames2200]

Thank you Griffin. Is there a fee to sell Canadian stocks on wealthsimple?

[@GriffinMilks]

No fee

[@Raj2390]

With WSTrade, Can I buy and sell Index Funds and do monthly Automated Investments for dollar cost averaging??

[@GriffinMilks]

You can buy ETFs, yes. No DRIP yet. You'll receive your dividends in cash.

[@mikejames7253]

Brand new to this stuff and wealth simple , can you buy index fund that follows the s&p 500? On this platform

[@Suresholee]

Hi !Thank you for info. How to transfer from personnel to TFSA?

[@GriffinMilks]

If you mean personal trading account, you can most likely just initiate an internat transfer if you are holding cash. If it’s a personal checking account, it’s just a standard transfer. Thabks for watching Suresh, subscribe for more! :)

[@vancitydre5785]

I’m currently using this app, only a Tfsa account. I’m only holding Canadian companies for now. If I wanted to start buying American dividend paying companies, where’s the better option to hold them? I heard questrade is better to buy USD stocks over wealth simple trade ( fees are quite high). Should I hold those investments in a tfsa or rrsp? What’s better for USD stocks right now. Questrade or Wealthsimple Trade?? Thanks Love the vids

[@GriffinMilks]

For US stocks, Questrade. Thanks for wtaching!

[@michaelsherwood3047]

Great video I just subscribed and liked! Question- does wealthsimple allow for DRIP? If so how is this setup?

[@mbabcock111]

Can you verify the 1.5% exchange fee in this example? From Wealthsimple Trade, Non-registered account ORDER EXECUTION ONLY ACCOUNT - Transaction Confirmation Date: 23 Nov 2020 PLTR - Palantir Technologies Inc (Class A) Bought 10 shares Bought at $19.9478 USD per share Gross: $199.47 USD Exchange: 1.3260 Net Amount: $264.51 CAD Fee would be: $264.51 CAD - 1.5% = $3.96765 CAD Actual cost for shares without added fee: $260.54235 CAD Am I correct on this math? If so, this is cheaper than buying 10 shares on Questrade at $4.95, yes?

[@mahatmaheil]

Is it okay to hold on to your ETFs until retirement or is it better to sell them at a good price even if you don't need the money at the time?

[@GriffinMilks]

Completely depends on the funds you're actually holding in your portfolio and your need for each

[@mahatmaheil]

@@GriffinMilks Yeah, I guess you are right. I'm looking at dividend stocks, but it's a long term investment of 15 years. I won't be needing the money until I retire (hopefully).

[@roeenmehry1478]

Just a quick question bro what is the difference between tfsa and personal

[@GriffinMilks]

Check out this video I made: kzbin.info/www/bejne/aWKpmoKrrZummZI

[@ragetotheend]

I want to do day trading of "future". Is there anything available for canada???

[@oparacarlos4095]

I would advise you to look for a professional trader who would explain everything to you, teach you and also help you trade. Do you need help?

[@DavidMacKayE]

I'm not seeing these features on my windows laptop chrome browser. Is this only available on a cell phone application?

[@GriffinMilks]

Yes it is only available on mobile

[@hallbrandon8562]

I deposit 100 to 160 every two weeks into my current trade account and if I buy stock every time I pay 8.95 a trade plus a quartely fee of 25 . Even if I buy US stock of say even 200 dollars at 1.5 rate that's still cheaper than paying 8.95. Thinking I better make the switch

[@GriffinMilks]

Indeed. Paying a $8.95 fee on a $100 trade is not worth it, and will severely handicap your returns.

[@jakob2610]

Should I do a personal account or a tfsa account?

[@GriffinMilks]

TFSA

[@W111amw]

How can I transfer from my personal institution TFSA ( I’m with td) into wealthsimple trade TFSA?

[@mahhaniyaimran1847]

I would like to buy bluechip stock and dividend paying stocks, how do I go about doing that with this application? Thanks.

[@GriffinMilks]

All you need to do is place a purchase order and you’ll be good to go! Thanks for watching MahHaniya

[@SJSMchick]

Great video, I use WS Trade but after today I'm not sure about whether I'd be able to use it with my trading frequency. Also now they have stop limit buy/sell orders and are working on adding USD accounts!

[@GriffinMilks]

What do you mean about your trading frequency. Yes adding USD account will be major ! Thanks for watching :)

[@SJSMchick]

@@GriffinMilks apparently you can't trade using a TFSA

[@SJSMchick]

I've recently discovered Interactive Brokers. I'm trying to figure out if it would be cheaper than WS Trade. 1.5% currency exchange fee to buy and sell vs at least 5 cents per share, I buy 3000 shares at most at a time (mostly penny stocks). Any advice?

[@keithcavite4195]

Any reason why you only hold canadian stocks on your wealthsimple trade tfsa portfolio?

[@GriffinMilks]

Hi Keith, great question! I personally hold mostly Canadian ETFs that hold US securities for US exposure in this account, and trade some individual American stocks in another account (USD TFSA) with another platform to minimize conversion fees. Hope this further answers your question! Thanks for watching and have a great day :)

[@vancitydre5785]

Griffin Milks would you recommend buying USD stocks in a questrade TFSA account over holding them with Wealthsimple trade Tfsa?

[@mackenziemann7673]

Would you recommend Wealthsimple trade for a beginner buying mostly index funds look to keep them until retirement?

[@GriffinMilks]

It’s great for beginners, and will save you a bunch on fees

[@frantzjules7168]

How do u calculate your tax rate for a personal account? And what's the best platform do u use for day trading?

[@GriffinMilks]

You need to just add up all your income and deduct your deductions. That determines your tax rate. You could use questrade or Interactive brokers for day trading. Here is a link to $50 free trades on questrade: www.questrade.com?refid=5cc1f638589bf

[@frantzjules7168]

@@GriffinMilks Thank u, by the way can u make a video on these subjects ( tax and deductions for a personal investing account) ?

[@abbehome5239]

As international students can I do this trade ?