Wealthsimple Trade vs Questrade Review 2023 - Best Broker In Canada 2023?

Today we'll cover an updated review of Wealthsimple Trade vs Questrade to see which is the better investment broker for you in 2023.

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[beaviswealth]

HAPPY NEW YEAR!!! Which brokerage do you prefer in 2023? Leave your comments down below :)

[Backtoreality]

I left Questrade last year as I’d had enough of their appalling service. The last straw was it was near impossible to withdraw money from my accounts. They made it as painful as possible. It took more than a year to try and get funds from an RESP. In the end we gave up and left Questrade entirely to get access to these funds for my kids higher education costs. Glad to share my experience with anyone to help them avoid a whole lot of stress.

[RyH]

I love WS trade. Great for an investor, and I use an app more than Desktop. So easy to use. I felt QT wanted way too much information for opening an TFSA and with data breaches happening everywhere, this is important to me.

[bar]

Maybe something to consider in your next assessment. Is how easy or hard are the brokers to deal with in cases of death to the individual and how easy or hard is the process to transfer asset to a living spouse in case of death of the holder of the broker account.

[Killswytch]

WS does have RESP's, Spousal RRSP, etc. They are just under the Managed accounts not DIY. WS also does the "Cash" account. Which gives you 1% cash back into your stock account.

[MrLalitmohanta]

Earlier last year, you and your father were showing and comparing the holdings on Questrade and Wealthsimple .May be its about time to have a look at those portfolios as 2022 came to a close.

[CanuckDividends]

Good update. I like both platforms and they each have their own advantage. I would LOVE if Questrade would lose their commission fees.

[momo]

I should of went with wealth simple... the quest trade fees are killing me. a 500$ transaction costs me 1% right off the get-go, and another 1% on my way out. for someone adjusting their portfolio on a weekly basis... its getting expensive!

thanks again for the great video! love everything you're putting out.

[munchems]

I left Quest for Wealthsimple and I'm much happier with the experience and customer service.

[casacalmar]

Re- support, with W.S. I have booked telephone appointments with advisors a few times to discuss issues, etc.

[shunck]

Iv called wealthsimple once with a concern. And i was answered by a helpful person. So people do anwser the phones.

[trenthogan]

I ditched Questrade for Wealthsimple and it was the best move I've made this year.

[Bellshazar]

Thankyou for letting me know about wealthsimple plus. I've lost thousands in conversion fees already buying and selling tesla stock and if I had known about this sooner I would have saved a lot. This will probably pay 10x over in a month.

[voo]

I use weathsimple, but its getting frustrating that they dont have half the US funds I want, as well as preferred shares. I will most likely make the switch to National Bank

[veeo]

The day Wealthsimple will allow investors to hold USDs (not drop fees, but be able to hold actual USDs and withdraw USDs to a US bank account), I will seriously consider switching. Right now, my biggest frustration with Questrade is the fact that I can't do fractional trading. It sucks when you wanna buy ETFs like VOO that cost like US$350 for one share. But I like being able to keep actual US dollars and being paid dividends in USDs. The commission fee when you sell, well, it sucks but it's a detail to me. It's only a game changer if you're day trading, but when I buy, I hold for a very long time.

[casacalmar]

From my limited knowledge, I understand that if you are trading lots of securities in $US on WS, the commission fee (1.5%) is a killer. Another YouTube video on this topic recommends less than 10, 000 use WS, more than 10, 000 use Questrade.

[achyugonu]

this is a very good one. Moved from US an year ago finding everything expensive as most of the brokerages are commission free there. Immeadiately signed up for the wealthsimple plus.

[bobbobby]

HI brandon, nice video but was't there suppose to have a honorable mention at the end ?

[pradeeshma]

Happy new year. With wealth Simple trade you can chat online for support. I did it last week and the wait time was very minimal. Between TD easy trade is another broker. Did u miss it ?

[tc]

National Bank, zero commissions and can have Canadian and USA $ accounts. Options at $1.25 with no ticket charge (min $6). Moved from TD and it is much better as one can scale in to a position at no cost. For US accounts, Tastyworks say they will be in Canada in the first half of the year. But that might be wishful thinking.