TD has consistently been on the forefront over the last decade as investors have moved from expensive “full service brokers”, to the much cheaper discount broker model that we see today. If you put in an order to buy or sell 50 shares, this type of order is a non-marketable order and will be charged an ECN fee. Yes! Wealthsimple Black. For example, on Questrade, the ECN fee on Canadian securities of $1 and above is $0.0035 per share. Fees are the enemy of investment growth and wise investors do whatever they can to eliminate as many as possible. This is especially so if they already offer low or no-commission trading. Introducing CDIC for your Wealthsimple Cash account. DON’T use Wealthsimple Trade if: You want to trade U.S or … Assuming 0.85% MER at wealthsimple and 0.15% MER at Questrade, the difference is about 0.70% MER, that's 7$ per 1000$ invested per year. level 1. And also be aware of niggling little costs that add up quickly, such as ECN fees and “inactivity” fees. The added cost of ECN or ATS fees are minimal and should not be your main focus when choosing an online broker. Wealthsimple also offers savings accounts and provides financial advice. The fee is when you buy US stocks there's a 1.5% conversion fee. QT has real-time quotes and dual-currency accounts, but levies commission + ECN fees when selling. As one of Canada’s largest companies and a brand … If that's what you're looking for, please click here. Good for buy and hold. I'm currently with wealthsimple but I'm interested in the other ARK etfs, namely ARKG and ARKW which they don't have so I'm thinking of opening a questrade here in Canada but wanted to check that these were available, any help appreciated! For an order of 100 shares, this cost translates to 35 cents. ... No commission (except ECN fees) on etfs. Win win. Wealthsimple Trade makes money on currency exchange fees for US trades, and we plan on launching premium features in the future that will likely carry fees. You may also be charged an ECN fee if you trade a “non-marketable order,” which is a technical term for any order not in a multiple of 100 shares. An order of 100, 200, 300, etc. share. Wealthsimple Generation Report Save. 3. And the market data is delayed by 15 minutes. * That being said, there are also some transactional fees to be aware of, which you can view on our full pricing schedule for the platform here! (calculation: 0.7% *1000$ = 7$) But Questrade also has commission fee to sell and (negligible) ECN fee. For example, many low-cost firms charge an ECN (Electronic Communication Network) commission fee of $5 to $40 per 100-share trade. Reply. Fees: Commission-free ETF and stock trades Wealthawesome Score: 4.4 / 5 Platform Available On: Desktop, iOS and Android Research Tools: None How to Open an Account: Link here DO use Wealthsimple Trade if: You only want to buy and sell ETFs or stocks traded with Canadian dollars. Less so for active trading. 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