Personal Finance Canada

1871 readers

2 users here now

Come and discuss anything related to personal finance, directly or indirectly, with other Canadians!

founded 3 years ago

MODERATORS

affairesdepiasses@lemmy.ca

Looking to move my stocks - Questrade or IKBR? (lemmy.ca)

submitted 1 week ago* (last edited 1 week ago) by unome@lemmy.ca to c/personalfinancecanada@lemmy.ca

7 comments fedilink hide all child comments

Hi y'all,

I have some stocks (registered and unregistered) in Wealthsimple and am looking to move. Partially because their robo-investing sucks balls and partially because I've been sketched out by their methods for a few years now. My current use-case is mostly dumping into ETFs every now and then, nothing crazy, but I want to leave.

Where should I move? I've heard Questrade and Interactive Brokers (IKBR) are both decent, with Questrade being easier and IKBR being more powerful. Any considerations I should have in regards to which is cheaper / easier to use / easier to move to? Or any other options? Leaning towards Questrade due to being based in Canada and I hear more about them.

you are viewing a single comment's thread
view the rest of the comments

[–] observantTrapezium@lemmy.ca 2 points 1 week ago

Thanks for your thoughts. I have to say I've been feeling those vibes for a long time now, but due to laziness haven't done much about them.

Flinks is absolutely insane. I was shocked when I was setting it up and realized it actually needed password and second factor. And I'm also so confused by the necessity of this as almost all banks already provide access delegation to the CRA and other government services.

I'm similarly annoyed by their new gambling venture. I don't care if people want to gamble, but it makes me uncomfortable that my financial institution has a stake in this industry (although, counter point, the house always wins), and I just wish it were boring and out of the way as it seems to have been some years ago. But is Questrade any better, and if it actually is, is it not likely to enshittify too over the coming few years? I'll definitely think about that before moving.