For active day traders: TD too high commissions. Questrade too high commissions. Interactive Brokers Canada let's you day trade with very small accounts, and only charges $1 a trade. Trade Zero Canada is pretty much the same as IB and is great for short selling the low float hard to borrow stocks. Canadians are not subjected to the pattern day trader (PDT rule) that US traders are. US uses FINRA regulations and Canada uses IIROC, and we can day trade as much as we want, regardless of account size. If you are going to be a very active and serious trader I would recommend coupling Interactive Brokers with DAS Trader Pro, their tools are amazing and they have very fast executions. Their platform is used very heavily by day traders in the US
@ajcook7777 I'm so glad I came down into the comments. You answered my question perfectly (which I didn't ask out loud). IB is quite robust and every obstabcle can be overcame with proper education. I have WealthSimple but I don't believe it's as robust and I wish to start with a margin account. Thank you!!
National Bank of Canada Online brokerage is way better than wealth simple trade. It also has no commission fees and offers USD accounts on top of that.
Not even, robinhood has more options than Wealthsimple by far. WS has potential if they focus on improving, which they said they would but it takes time to get to the level of a real discount broker.
Great article! Can you tell me what would be a good beginner platform to start trading Micro Futures? I have spent 2 months trying to learn as much as possible in Interactive Broker and finding very difficult to navigate placing bracket orders. Any suggestions or opinions would be very appreciated.
When you switch brokers every few months isn't that a pain in the ass? Most people would lose doing this transfering around to brokers? What are the real costs?
BTC's price has been fluctuating lately, which means the market is currently open and you cannot tell whether it is going to be bearish or bullish. This uncertainty is driving most traders away and forcing investors to hodl. I would say it's totally wrong to just sit back and wait, maybe make a few losses, this is the wrong way of thinking for an investor because as an investor it should be our job to find ways to add and recharge more and more coins as the ultimate goal of making a profit. It all depends on the pattern you are tradin in and the source of your strategies as well. I have made over 17.8btc from day tradng in less than 3 weeks using the correct tradin strategy given to me by an expert trader, Theo Ryan.. His methods are top notch and profitable.
@@michaelyoung3762 Thanks for sharing his telegram details, this gave me a small amount of hope thanks, i’ll surely reach out to him and start learning the right way, tired of loosing from price drops,
I took a look at them too, but as I mentioned in another answer, they have a ~2.5% FX fee exchange rate that's pretty hidden. Their exchange rate is really bad. Plus they have maintenance fees if your account isn't at a certain level. WS is still in my opinion the best for most user cases in Canada.
Which broker do you recommend for an absolute beginner who wants ONLY to trade emerging/frontier market as ETFs, index funds, mutual funds, and individual stocks *all within a TFSA*? I will rarely be buying 'Canadian content' . But because my bank account is in Canada and I am a Canadian resident, this is why I am considering a low/free-fee brokerage firm in Canada.
Been playing around on Wealth Simple on Nasdaq with large caps basically as i understand scalping / swing trading though more by accident trying to avoid volatility lol Enjoying the experience and looking to move to more complex trading platform. Most of them seem underwhelming as gaming in 2005 was more complex lol Just trade big names goog, nvda, tsla, aapl and if my scalp doesn't work it just turns into swing cause they all go up eventually %100 win no loss lol Like to be able separate account 1-10 so if account 1 gets stuck in swing for week go to account 2, 3, 4, so on so on.. any platform suggestions ? Also kind of feel like 2006 WoW bot could do what I'm doing 20+ accounts is that a legal option Canadian traders ?
Hi, I am new in Canada. I am looking out for a Forex academy in Regina to learn more on how to trade the Forex market. I will be grateful if anyone can help me out. Meanwhile, your video is super instructive.
WS app crashes so many times for me in 2022, I lost a lot of money and good opportunities as a day trader. Yes their UI/ UX is very good and yes they have the US account now, but I have a trust issue using their platform now. Do any other platforms (questrade/ IBKR) also freeze/ crash regularly?
i want to invest with td my current bank but seems too pricey ... i want to use a platform that i can set a drip on certain stocks and etfs ...think ill go with questrade do they have an app ?
National Bank is free and much better than WS, you can set DRIPS for individual holdings, and their customer service is professional and gets back to you promptly.
Too bad Wealthsimple Trade doesn’t offer retirement income accounts RRIF, PRIF, LIF. What are your thoughts on Qtrade ? It’s supposed to be the best one in Canada.
It's not bad for newbie traders. Day trading is sketchy, but if you swing trade and you're decent at it, you'll make good money. Now that they let you hold US dollars you can save a lot of money in conversion fees for your swing trades. Definitely nice for newbie traders like me, I'm still learning about IBKR cause I think that's the only alternative that 's worth it for canadians.
NB is sneaky, they have a 2.5% FX fee exchange rate that's pretty hidden. Plus they have maintenance fees if your account isn't at a certain level. WS is still in my opinion the best for most user cases in Canada.
Check out the blog post for an updated list: wealthawesome.com/best-trading-platform-canada/
What is the best approach to enter the market now as a beginner with more or less than $15,000
You need a pro at navigating the market. Someone like Amanda Katherine Nakitare
Didn't expect to see Amanda mentioned here. With her aid for barely four months, I cleared a debt I had for 3 yrs
Meeting Amanda Katherine changed my life. I was struggling to make rent now I'm looking at houses to buy
How can she be consulted
Write to her through
Face
book
For active day traders:
TD too high commissions.
Questrade too high commissions.
Interactive Brokers Canada let's you day trade with very small accounts, and only charges $1 a trade.
Trade Zero Canada is pretty much the same as IB and is great for short selling the low float hard to borrow stocks.
Canadians are not subjected to the pattern day trader (PDT rule) that US traders are. US uses FINRA regulations and Canada uses IIROC, and we can day trade as much as we want, regardless of account size.
If you are going to be a very active and serious trader I would recommend coupling Interactive Brokers with DAS Trader Pro, their tools are amazing and they have very fast executions. Their platform is used very heavily by day traders in the US
@ajcook7777 I'm so glad I came down into the comments. You answered my question perfectly (which I didn't ask out loud). IB is quite robust and every obstabcle can be overcame with proper education. I have WealthSimple but I don't believe it's as robust and I wish to start with a margin account. Thank you!!
Bad thing about them is you have to qualify to do options. They decide if your ready or not.
How bout futures?
Very informative, thanks for sharing valuable information.
Would be great if the text over your video will be more visible and in black color.
National Bank of Canada Online brokerage is way better than wealth simple trade. It also has no commission fees and offers USD accounts on top of that.
Sorry for writing you, just out of curiosity your page come up on my suggestion friend list so I was just wondering if I knew you from somewhere?
Is it good for trading futures?
Wealth simple is free for a reason, it's the Robin Hood of Canada.
thanks for your input
Totally agree 👍
Not even, robinhood has more options than Wealthsimple by far. WS has potential if they focus on improving, which they said they would but it takes time to get to the level of a real discount broker.
There is currency conversion fees
Will I pay commission fees if I wanted to trade american etfs on WS ?
I Have the worst experience with WS
Great article! Can you tell me what would be a good beginner platform to start trading Micro Futures? I have spent 2 months trying to learn as much as possible in Interactive Broker and finding very difficult to navigate placing bracket orders. Any suggestions or opinions would be very appreciated.
Im asking the same question
Love wealth simple trade I use it for all my investing
When you switch brokers every few months isn't that a pain in the ass? Most people would lose doing this transfering around to brokers? What are the real costs?
BTC's price has been fluctuating lately, which means the market is currently open and you cannot tell whether it is going to be bearish or bullish. This uncertainty is driving most traders away and forcing investors to hodl. I would say it's totally wrong to just sit back and wait, maybe make a few losses, this is the wrong way of thinking for an investor because as an investor it should be our job to find ways to add and recharge more and more coins as the ultimate goal of making a profit. It all depends on the pattern you are tradin in and the source of your strategies as well. I have made over 17.8btc from day tradng in less than 3 weeks using the correct tradin strategy given to me by an expert trader, Theo Ryan.. His methods are top notch and profitable.
Hello...I have been looking for such a profitable signals and guides from a pro trader for some time now how do i contact him?
@Theo917
You
@@michaelyoung3762 Thanks for sharing his telegram details, this gave me a small amount of hope thanks, i’ll surely reach out to him and start learning the right way, tired of loosing from price drops,
I'm also a subscriber of his signals, and if I were to rate their accuracy I would say 95%
Appreciate the vid
Thanks!
ECN and FX fees make your #2 and #3 a no go. They add up massively
What u think of national bank with no commission?
I took a look at them too, but as I mentioned in another answer, they have a ~2.5% FX fee exchange rate that's pretty hidden. Their exchange rate is really bad. Plus they have maintenance fees if your account isn't at a certain level. WS is still in my opinion the best for most user cases in Canada.
@@WealthAwesome you can use Norbert's gambit for literally free.
It's probably the best online broker in Canada right now.
@@WealthAwesome I exchanged my CAD to USD using Knightsbridge and deposited the funds.
Which broker do you recommend for an absolute beginner who wants ONLY to trade emerging/frontier market as ETFs, index funds, mutual funds, and individual stocks *all within a TFSA*? I will rarely be buying 'Canadian content' . But because my bank account is in Canada and I am a Canadian resident, this is why I am considering a low/free-fee brokerage firm in Canada.
I would recommend Questrade for that!
I use Questrade but I want to trade more than stocks and ETFs so I may switch to interactive brokers
That might be a good idea!
Been playing around on Wealth Simple on Nasdaq with large caps basically as i understand scalping / swing trading though more by accident trying to avoid volatility lol Enjoying the experience and looking to move to more complex trading platform. Most of them seem underwhelming as gaming in 2005 was more complex lol Just trade big names goog, nvda, tsla, aapl and if my scalp doesn't work it just turns into swing cause they all go up eventually %100 win no loss lol Like to be able separate account 1-10 so if account 1 gets stuck in swing for week go to account 2, 3, 4, so on so on.. any platform suggestions ? Also kind of feel like 2006 WoW bot could do what I'm doing 20+ accounts is that a legal option Canadian traders ?
If you like complex, check out Interactive Brokers!
Hi, I am new in Canada. I am looking out for a Forex academy in Regina to learn more on how to trade the Forex market. I will be grateful if anyone can help me out. Meanwhile, your video is super instructive.
The big drawback to WS is lack of more types of accounts ie Spousal RRSPs
they hav it now
why wealthsimple discourages day trading?
Netcoins Exchange is still the best platform that I've been using until now.
How many dollars WS give you for this video ?
Wealth simple has fees for other stocks that are Not canadien
WS app crashes so many times for me in 2022, I lost a lot of money and good opportunities as a day trader.
Yes their UI/ UX is very good and yes they have the US account now, but I have a trust issue using their platform now.
Do any other platforms (questrade/ IBKR) also freeze/ crash regularly?
Check out Questrade, Qtrade, IBKR are better options for serious traders
i want to invest with td my current bank but seems too pricey ... i want to use a platform that i can set a drip on certain stocks and etfs ...think ill go with questrade do they have an app ?
yes they have an app! you can use set drip on it as well
National Bank is free and much better than WS, you can set DRIPS for individual holdings, and their customer service is professional and gets back to you promptly.
Too bad Wealthsimple Trade doesn’t offer retirement income accounts RRIF, PRIF, LIF. What are your thoughts on Qtrade ? It’s supposed to be the best one in Canada.
I like Qtrade a lot! I've been testing out their product more lately, and will likely bump them up to the top 3 in my next review
hi I am new in Canada. I need a platform for US stock and Index options intraday trading . Thanks, I need a platform with best chart option .
Try Questrade or Interactive Brokers
Curious..Do any of you ever experience lagg on your Questrade Edge live trading platform , especially during executing trades?
Not at all personally
How much bots are in these comments
You must be kidding. WS IS THE WORST.
Why do you think it's the worst? Would love to hear your opinion on it.
It's not bad for newbie traders. Day trading is sketchy, but if you swing trade and you're decent at it, you'll make good money. Now that they let you hold US dollars you can save a lot of money in conversion fees for your swing trades. Definitely nice for newbie traders like me, I'm still learning about IBKR cause I think that's the only alternative that 's worth it for canadians.
@@WealthAwesome Crickets??
Wealthsimple is Junk status
💯 % agree complete scammers
U are getting money to promote these crappy tipoff platforms. National bank is the best for now.
NB is sneaky, they have a 2.5% FX fee exchange rate that's pretty hidden. Plus they have maintenance fees if your account isn't at a certain level. WS is still in my opinion the best for most user cases in Canada.
Love the work you are donig. And you blogs have such a useful information
I would like to connect with you . How can i connect you ?
Check out my blog wealthawesome.com there's my contact info there!