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Today we'll talk about some of the top online brokers for DIY investing in Canada.
– Questrade
– Wealthsimple
– Wealthsimple Trade
– Bank Brokerages
#stockmarket #investing #brandonbeavisinvesting
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About Brandon Beavis:
Brandon Beavis was one of the youngest advisors to become fully licensed here in Canada.
In 2013, Brandon officially began his industry studies. Over the years he has completed his CSC (Canadian Securities Course), CPH (Conduct & Practices Handbook), WME (Wealth Management Essentials), 90-day Investment Advisor Training Program, attended the Manulife Professional Development Workshop in Oakville, ON, and attended countless industry seminars, conferences & events to help further his learning.
At age 20, he became a fully licensed Investment Advisor, working for one of Canada’s largest Investment Brokers, Manulife Securities. For 4 years, he worked alongside a highly experienced team at Beavis Wealth Management, specializing in High-Net-Worth Investing. He’s had the opportunity to work under his Father, an advisor of over 25 years, and has dealt hands-on with client portfolios, involving; analyzing, building, and managing multi-million-dollar client accounts.
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About Marc Beavis:
Marc is a retired Portfolio Manager, having spent over 25 years in the investment industry, managing multi-million-dollar portfolios and working with clients of all ages. He retired in 2021 and is a regular contributor to this channel.
Following his initial licensing back in 1996, he completed a number of industry courses, including the Derivatives Fundamentals and Options Licensing Course, Portfolio Management Techniques, Wealth Management Essentials, Investment Management Techniques, Fixed Income Investing, Hedge Fund Essentials, Portfolio Theory, and of course, the Canadian Securities Course.
Marc previously served as a Director of the Canadian Association of Financial Planners (Now FP Canada) including the roles of Vice President and Director of Ethics.
When working in the industry, he held the Chartered Investment Manager (CIM) Designation as offered by the Canadian Securities Institute. In addition, Marc was a Certified Financial Planner (CFP) practitioner, the industry gold standard in financial planning.
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Get some free some up bonuses with the links below! Thanks for watching! 🙂
► Questrade Online Brokerage (Get $50 in commission-free trades) – https://www.questrade.com/campaigns/qbaffl50t102?refid=ayiice9l
► Wealthsimple Trade ($10 cash bonus when you deposit $100 or more) – http://wealthsimple.sjv.io/zQ1d6
► Wealthsimple Invest Robo-Advisor (Receive a $50 sign up bonus) – http://wealthsimple.sjv.io/7AO7Y
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I trade CFDs with European brokers, $1.5 commission
Do you have a problem with interactive broker? Also do you get paid for the reviews?
what’s the catch of wealthsimple trade? I mean it can’t be free how they make their money? which form of fee you pay?
You ruined my 3 weeks..I watched your video and tried to open account with Questrade .. they were holding my 20k plus for 2 weeks at the end I couldn’t take it anymore now they will take 5-7 business days to return my money cus I can’t work with a bullshit company like Questrade worst customer service and my put my account on hold even after providing everything . I highly recommend not to waste time with Questrade … Please don’t guide wrongfully advice people just because you get 1-2k fr stupid companies like Questrade
Hey Brandon, is wealthsimple trade aafe and secure to use?
It great to see with more online brokers,
the consumer condition gets better and better!
Awesome video, but I think a HUGE part you didn’t metnion was that with WS Trade you can’t hold USD in any accounts. Yes you can buy US stocks and ETF’s but you pay the forex fee on both the buying of the USD and the selling when you sell your position. For investors looking to buy some US-listed equities, this is huge. I think this is a huge plus with Questrade as you pay the forex once but if you sell a US listed stock you can still keep the USD and buy something else in USD. A Canadian investor can only go so far with only CAD listed stocks.
Thanks Sprudy.. that’s a very valuable piece of info – I have a video upcoming soon explaining some of the downsides of these platforms where I’ll touch on this!
Let ws be only for your canadian stocks and questrade to US stocks
You can avoid the fee
Also the fees for each convertion is 1.5%, which means you pay a total of 3% to buy and sell a usd stock with ws trade.
Two more things I just found out: WealthSimple Trade stock quotes are not real-time. They are 15-minute delayed. Secondly, they do not currently offer a DRIP but that can be worked around by purchasing more stock with your dividend payments since commission is $0. But it’s a hassle to stay on top of it.
@@Will-uj7yu Are the fees on top of the exchange rate? We expect financial institutions to offer their own exchange rates in comparison to the FX spot exchange rate so they don’t lose money buying and selling the USD with your CAD. Are the Questrade exchange rates in-line with that plus the 1.5% fee or do the exchange rate result in 1.5% difference with the FX spot rate?
I’ve commented here and there for the past year, but you are such a great resource for those who are starting out with trading. I’ve recommended you to all of my friends who are looking to start. Keep up the great work!
Great Content!!! super informative for beginners, and nice smile 😀
This was extremely helpful Brandon, thank you so much!! I will most likely be going with wealthsimple standard or the trade version, as I am very new and have little to no capital to start with. Thanks again!
Watch for the 1.5% exchange rate fee they charge when you buy and when you sell. Unless you make a profit of 3%, you will actually be losing! I got caught in this and lost 2k.
Thank you, Brandon. This was very informative.
You are very well spoken for a young man.
Thanks for the balanced unbiased perspective, very practical advice.
I setup a Wealthsimple Trade account just last night. Watching your video after the fact, I do not regret my decision whatsoever. I did my research and I am so happy I did my due diligence. Now I just need to wait for my funds to go through to begin building my portfolio. Thanks for the informative video.
How’s it going
Thanks for this video, as a beginner I have to wrap my head around quite a lot of issues with investing, but I will use the info in this video in selecting a platform. Thanks a lot
2:24 questrade
10:06 wealthsimple
13:58 wealthsimple trade
17:16 bank online brokerages
I guess he only ‘reviews’ broker’s who can give him affiliate money.
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Wow! Thanks so much Brandon, I’m so happy i stumbled upon you. Youre very good at explaining, you make it easy to understand and love the fact youre Canadian! Makes it so much easier since I’ve been stumbling on American videos (which dont always help me)
If only we learned this stuff in school haha. great vid
I know eh in school they teach kids to get an education so they can get a higher pay job like “how to be an employee for the rest of their life” not how to be the boss and increase their wealth! Kids has to find that on their own when they grow up and majority never do!
Exactly i wish i knew all this back in high school!!!
I repositioned some of my dividend stocks using a broker. Now, I’m buying shares of TSLA, AMZN , AT&T, NVR again. I’m after dividends for passive income but it’s slow growth so now I’ll take my chances on growth stocks like SHLL, WKHS, PLNHF 1 From March I’ve been able to make a little above $400k. I’m slowly buying fractional shares of BRK-A again, I made other few rather modest investments in individual companies, I’ll keep stacking TSLA stocks
Thanks so much dude, your channel is like a gold mine, just absorbing as much info as I can at this point. God bless.
Thank you for your channel! I finally found one that is Canadian focused!
This guys the goat. Appreciate it
I’m from the island just getting started and your videos have helped so much!
Amazing content finally found a Canadian based creator giving advice for Canadians new subscriber here..
I maintain that investing in stocks is still one of the very best means of doubling or holding your funds. Who thinks otherwise? Let’s debate. Lol