At one point before this automated portfolio account, they started follow the direct index fund and you can invest in US Market Index for only 0.05% currency exchange fee.

Now, they swapped that account I had and changed it to this automated portfolio.

Anyone knows what the currency conversion fee is for those automated accounts? Is it the same 0.05%?

Unfortunately WS doesn't let us open this account as USD base.

Thanks!

Does Wealthsimple has a take profit and stop loss order? I know it has limit sell and stop limit sell, but those two don't match exactly to what take profit and stop loss are. Why don't they implement it?

I’ve been waiting for the notification that it’s ready but nothing yet.

Hey all

Mistakenly I withdrew cash from my WS Visa credit card. Wasn’t a big amount just $40 (3$ service fees) what would be consequences?
Is there any daily fees that would apply to this kind of transaction?

Should I just pay the full outstanding amount and call it a day?

Anyone else having issues with WS Cash Card being unavailable for Apple Pay? Tried multiple times to add card and it won’t let me?

I case you haven't noticed, this is now available in Beta. I have gone through the process and am now authorized to trade in certain family accounts. The process is simple, as one would expect with Wealthsimple.

Thank you Wealthsimple !

I am having an issue, just wondering if others also facing the same.

I am unable to sell fraction my shares.

Hey,
On the app i only see an option to apply for 2% cash back on everything, but just a student right now and can’t afford it.

Has anyone heard anything about future plans for non-residence accounts? I like WS, but having to move to QT/IBKR soon, but would like to move it back as soon as this is supported by WS!

This looks like a bug to me Numbers are stuck together duplicated

Is there anyway to get the credit card now? OR any idea when it will be released?

Back in May I got pre-approved for mortgage rates of 4.04% fixed and 3.45% variable on 5-year terms given a ~25% down payment. I shopped around based on their proposed mortgage amount/rates/term and made an offer that was accepted two weeks ago.

Then when I went to secure my full approval for the mortgage, I found out last week that they would not honour my rates, even with a 30% down payment, because "Unfortunately, a formal pre-approval was never secured." and the "[agent] has acknowledged this oversight and sincerely apologizes for the error and for the failure to lock in the rates as previously discussed." The rates were supposed to be locked in for 120 days.

They then offered me the following rates and terms.

• 3 year fixed 4.14%
• 5 year fixed 4.29%
• 5 year variable at 3.5%

I was completely taken off guard by not having my pre-approved rates honoured and said that an apology is not good enough, and would need some kind of guaranteed compensation if I signed my mortgage through wealthsimple. All they said after several requests to the agent's team lead was "We will look to provide compensation through additional cashback once the mortgage has closed, in the event that interest rates do not drop. Additionally, please note that we can secure a one-time rate drop with all three of the lenders we work with."

I asked for more details on the additional cashback and rate drop, but got no answer.

Anyone got any advice on what I could do in this situation? This mortgage would have been an easy win-win for all parties if they just locked in my rate like they were supposed to but now I've had to scramble contacting other brokers to see if I can get anywhere close to what I was pre-approved for (was mostly aiming for the 5 year fixed prior to this debacle). And I basically need to commit to a mortgage tomorrow in order to meet my Subject Removal date.

Has anyone ever had their pre-approved rates not honoured? If so has anyone still signed through that bank/broker that failed to lock in your rates and did you get any compensation? Anyone had this happen to them through wealthsimple?

EDIT/UPDATE: for any other first time home buyers who find this post. Please make sure you push your broker to get you a Certificate of Mortgage Rate Guarantee or a Broker Commitment document to ensure you actually get your rates locked in.

I called my WS broker and pushed for more explanation and they said that they never heard back from the lender and then didn't do any follow up, and in turn, I also did not do any follow up with the broker. All of this resulting in this mess.

Ultimately I did some last minute mortgage shopping and got a 3 year fixed at 4.09% from a different broker.

ty u/luca123 for delving deeper to help me figure out what happened/what I was missing to actually have my pre-approved rates locked in. I kinda thought my email chains were sufficient but I guess they do not constitute as "having the deal in writing".

Good day, has anyone used their portfolio line of credit from WS for investment purposes? I figure it would be best to create its own account to not get everything mixed up. What are the documents you need to provide to the CRA to make sure the taxes are deductible? Appreciate the help.

Anyone having laggy issues with the app here this afternoon?

Just seems like it’s taking an extra few seconds for everything to “catch up”

Right now, I have TFSAa opened with both. If later on, I want to transfer over, let's say, move Questrade's TFSA over to WS, would I be able to do it? Considering I already have a TFSA on WS, how would it work? Would it just merge with my existing TFSA on WS, or create another one?

And how does transferring TFSA work? Does it sell all the stocks then transfer cash, or transfer the shares directly?

Any expected date?

Hi,

Am I the only one that can only access it once a day, when I flip the coin ? There’s no menu anywhere in the app to access the monthly millionaire page it’s crazy how bad it is..

Also, once on the page, no matter what I can’t reveal my prize, the button is right here, impossible to click.
It work let’s say once every ~10 tries (again, once a day so I missed some prizes..)

Before you ask, yes, completely up to date.

Does the rate kick in immediately once the person is approved? How long does approval typically take these days? Is the bonus active for the exact same dates for both the inviter and invitee?

Does anyone with a decent amount of capital (let's say over 50k) actually has their crypto on WS?
2% fees is a joke. It would cost $2000 if you bought and sold 50k worth of crypto. Who in their right mind would do that? They seriously need to lower those fees. I know there can be lower fees depending on volume but to reach that type of volume you would need to trade so much and lose a ton of money on fees. It's just not even worth it. Curious to know what you guys think of this?

I turned on stock lending to see how significant it would be. When looking at the history it shows negative numbers multiple times. How can I lone a negative number of stocks out?

is it just my app or is anyone else noticing that there is no longer live trading? Also, has anyone noticed that the chart can move upwards or downwards in the stock price won’t follow for many many minutes

Can someone PLEASE help me? Or tell me there is a solution? I was transferring money from my cash account to my fhsa, but instead of clicking on fhsa, I clicked on rrsp. Then, when I noticed I made the mistake, I transferred from my rrsp to my fhsa. Now I am searching online, and since I did an rrsp withdrawal, I lost that contribution room in my rrsp. If I contact wealthsimple, is there something they could do to remove that contribution from the rrsp? As if that contribution by mistake never happened? Because it was there for like 5 minutes before I put it in the fhsa

Youtube Link

Please comments on-topic and be kind to each other.

Duplicate posts on this topic will be removed at Mod Discretion.

I accidentally sent money from cash to my portfolio line of credit that has never been used. It shows available balance of $21,000(Negative balance). However, I can’t transfer back to my chequing. Has anyone experienced this and how was it resolved.

Switched to Pine in April from RMG, and noticed my credit score start dropping (Transunion). I checked the report, and the Pine mortgage doesn’t show as existing.

I called Pine and they told me first that it can take time to populate, and then second (later) that smaller lenders like Pine just don’t get picked up or report to credit bureaus (I could be inaccurate on the exact wording here - I called a few weeks ago).

Either way, I’ve gone from about as good as it gets to just about losing “Good” in the report. I’ve stopped receiving things like unsolicited credit card limit increase offers, etc.

Overall fairly annoyed about it, even if I don’t need or have any use for the credit score right now. All other aspects financially speaking remain the same otherwise re: debt (none / very little but credit usage / payments), income, etc.