Today we’ll be selling my Apple stock $AAPL to buy Aurora Cannabis stock $ACB on Wealthsimple Trade with $0 Commission cost. I’ll show you guys the buy and sell orders STEP BY STEP.
✅I did a in depth app feature demo and video review for Wealthsimple Trade here:
Wealthsimple Trade is an app that offers stock traders in Canada FREE trades. Basically it’s the Robinhood trading app for us Canadians. Using this app could save you hundreds if not thousands of broker commissions. In my last video I bough two shares of $AAPL, and then one share of $MSFT with my $1000 test account. Today in this video you will see me sell all those shares to buy $ACB.
Another thing that was not mentioned in my last video was the currency exchange conversion fees. Wealthsimple Trade charges a 1.5% FX conversion fee, which is pretty standard among stock brokerages (usually 1.5%-2%). But user should be made aware of that when trading here if they are expecting a completely FREE app.
I would suggest users on this app to stick to buying Canadian listed stocks on the Toronto Stock Exchange. If you want to buy US listed stocks, I’d suggest another Canadian broker, Questrade instead. I will do a video tutorial soon on the CHEAPEST way to exchange your CAD into USD with Questrade. Also, Questrade allows you to hold registered accounts like TFSA or RRSP in either Canadian or US dollars⬇️.
Wealthsimple Trade, $0 Commission Trading
Wealthsimple Investing, get $10,000 managed for FREE
??Questrade Canada (get $50 FREE commission trades)
?️Top 5 Day Trading Beginner Mistakes | Chat Room Alerts, Sizing, Trading Plan & More:
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DISCLAIMER: I am not a financial adviser nor a CPA. These videos are for educational and entertainment purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.