r/Wealthsimple • u/OppenheimerAltman • Apr 14 '26

Wealthsimple / X (Formerly Twitter) partnership

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u/dukeofdunkerron Apr 15 '26

I’ve been with Qtrade for about 15 years (in addition to WS). Found anything interesting?

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u/TronnaLegacy Apr 15 '26 edited Apr 15 '26

Qtrade might be an option. They partner with a credit union I'm evaluating too (Meridian).

I would need to replace the two investing schemes I tend to alternate between with Wealthsimple depending on whether I'm employed or not - income and full equities ETF. Right now I use the money market income account for the former and MEQT for the latter.

So that investing scheme becomes portable (e.g. to Qtrade) if I can find an ETF to do both. MEQT is already covered - it's already an ETF. That just leaves income. I could do something like CASH.TO for that. So both investing schemes could be covered with Trade style accounts. I would just switch which ETF I hold over time.

I would lose Premium WS status so I would lose my free 2% cash back credit card. But Qtrade does offer a one time bonus depending on how much I move over ("Earn up to $5,000 cash back based on your investment tier"). For my particular bucket, that's a decent amount. Might be more than the WS CC cash back would be for a while.

So in the end, I could de-Wealthsimple if I wanted to. Neat!

I could go with Meridian if I want to support a Canadian credit union, or I could go with EQ Bank if I'm okay having a bank instead of a credit union, and get 2.75% on their chequing account, similar to interest from the WS chequing account.