Anyone use Wealthsimple? I just opened an account to purchase a bit of Horizons high interest savings etf. Could not do that with TD ( they force you to purchase their own money market fund which gets a lower rate) So far, seems okay. Can purchase fractions of etfs, shares, etc. and small amounts too which is nice. Just wondering about other peoples experience with using them.
I like wealthsimple a lot. I've been a questrade user for about 5 years and added a wealthsimple account a few years back to enable me to buy small quantities of stock without paying commissions. I am very tempted to give up on questrade entirely and migrate to wealthsimple. Commissions fees aside, questrade has just had far too many website issues, been too slow to respond to ongoing problems and most of their interface redesigned have totally sucked. Wealthsimple has been well laid out and simple to use from day 1, and I've never experienced a single issue or system lag like questrade had going on for years.
I've been using wealthsimple trade for about 1.5 years. Lots of perks to an account if you have over 500K account, but most of those perks are only available if you use their app on an Iphone, which i don't. Have had no major issues to date, but sometimes the system will throw you false info after you add shares of a stock which you already own. I'm able to phone them directly tho, (one of the 500k perks) and they reset the account and the numbers are corrected. No regrets or hidden fees..
So far it seems really good. The recurring investment option is awesome. I set it up to buy small amounts of HXS and HXT (etfs tracking the S&P, and tsx) on a weekly basis.
Can’t buy mutual funds with it. That’s okay - just using it for a few etfs.
Wealthsimple
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