Buying Aurora Stock with Wealthsimple TRADE (STEP BY STEP Walkthrough & Review)

Buying Aurora Stock with Wealthsimple TRADE  (STEP BY STEP Walkthrough & Review)

A month ago I did a demo on Wealthsimple Trade,
the $0 commission stock trading app, or as some call it, the Robinhood for Canadians. I did a very detailed review on the app features
and bought some Apple shares in my last video. Today, I will be just selling those Apple
and stocks to buy Aurora Cannabis. I’ll walk you guys through the order executions
in Wealthsimple Trade step by step. So be sure to like and subscribe to this video. Here we go! Launching the app here entering my passcode. This is the home screen. You can see my $1000 Canadian I deposited
last month is now $1021. Wow McDonalds on me tonight. Scrolling down this is my current portfolio
in Wealthsimple Trade. I funded this account strictly for the sake
of trying it out and creating the review. You can see I currently hold Apple and Microsoft
stock. If you go to the left sidebar here you can
see my trade history. I deposited $1000 at the end of january and
bought 2 Apple shares for the last demo on Feb 4. Here’s the trade confirmation. And then i also bought Microsoft stock on
the eighth. Apple paid me a dividend on the nineteenth,
about $0.73 cents US per share. But it’s paid out in Canadian dollars because
Wealthsimple trade doesn’t hold USD yet. Now let’s go sell my Apple stock. Scroll down and you can see some stats about
the stock here. Click sell. I only have two shares. On the top you can see your order type. You can click and switch to limit if you want
to, but for this demo I’m just going to use market order. Click continue and the app is asking me to
confirm the sale of 2 shares. Note that Wealthsimple trade does charge an
exchange conversion fee of 1.5%, which is included in this estimated exchange rate here. I know this is going to eat into my profit
but its ok I’m just doing a demo. If you stay to the end I’ll explain about
the Wealthsimple currency exchange fees at the end of this video. So now I click confirm order its sending it
out. Now my orders sent yay! You can see here I have one order pending. My shares havent been executed yet. This can take 30 seconds to a minute here
even with a market order. And there well go. Sell order executed. You can click the sell here and see the exact
price I sold my apple shares at and these nasty exchange conversion fees. Next I’ll do the same to sell my $MSFT shares. Click microsoft and scroll down to sell. You can see my buy here on Feb 8. Now click sell and enter share size once again. Confirm. Order sent out to space. And here we go. Order executed at $109.52 USD per share. You can see that they’ve sent me an email
confirmation as well. Now back at the dashboard I now have $1003.18
CAD to buy Aurora Cannabis shares. Now im going to scroll down to my watchlist. I already have Aurora here. You can see its trading at $10.50 Canadian,
which means I won’t need to pay any currency exchange rate this time around. I’m going to click buy. Enter 50 shares, again I’ll just use market
order. Here it tells me the estimated price I’ll
get executed at should be around $10.49 and the total cost basis is $524. And confirm. So my order is now sent. Market buy pending 50 shares of ACB Aurora
Cannabis. Oh i just received the email confirmation. Let’s see what price I got filled at. Here we go I now have 50 shares of ACB with
an average of $10.47. And now its 100% of this portfolio because
that’s the only stock I have here in this account. Again down here you can see some company summary
details, and past stock performance if you wish. Now if you go to my trade history again. You will see all the past orders i’ve executed. Apple buys and sells, same as microsoft. Dividend payout from apple and now my buy
on Aurora. And I only have $479 dollars available to
trade in this account. Before we jump to talk about this app’s
exchange conversation fees, if you want to skip that and go watch video of an in depth
review and interface feature walk through instead, click this link on the top right. Ok Finally it’s time to talk about Wealthsimple
Trade exchange rates, which is one of the many ways they actually make money. Here, how do Wealthsimple Trade’s currency
conversion fee compare to other brokers. Its 1.5% here when you buy or sell american
stocks in this app. It’s true that this is the standard, which
is 1.5%-2% depending on which broker. They have to do this to make money. But the users like you and I should be mindful
for that, because it could eat into your profit. Personally, I don’t recommend buying US
listed stocks with wealthsimple trade. I did it in my last video and this way just
as a demo, and it was only three shares in total so the fees weren’t significant. Wealthsimple trade says here they will roll
out the option of opening USD accounts in the future, but it’s unclear to us when
that update will happen. So I’d totally use this app to buy and sell
Canadian stocks like Aurora, Canopy growth, Canadian banks like RBC or Shopify. But for US listed stocks I’d use other more
sophisticated brokers like Questrate. With Questrade you’d have the option of
opening US dollar accounts, or registered accounts TFSA or RRSP. With Wealthsimple trade right now you’d
be paying for the high exchange rate and only cash account option. But if you are interested in buying US dollar
stocks the CHEAPEST way possible, I will have a video on how to do that step by step with
Questrade. I have links down in the description for signing
up in line for Wealthsimple trade, as well as a link to Questrade and get $50 dollars
worth of FREE commissions. If you want a more detailed walk through going
over Wealthsimple Trade interface features. I have a video for that down below as well. Please dont forget to hit the like button
if you found this video helpful. And subscribe for more videos like these in


  1. Humbled Trader says:

    The app is now available for everyone in the app store! Have you started using Wealthsimple Trade app? 🤗 Let me know what you think!

  2. Informed Trades - DayTrading/Investing says:

    I use Robinhood. Cool they made free commission in Canada too.

  3. parth patel says:

    Great video. I just got early access and will try out the app. Do you know if they charge to put money into the account or take money out?

  4. Riley Griffith - Stock Market Videos says:

    Wealthsimple is definitively a cool app, not many people know about it! Great video, thanks!



  6. Mark Zamora says:

    thank you for this. I am still starting investing here in CA and this really help. Is there a charge for holding a stock for days or month? I saw ACB chart and it is now down to $7.

  7. thequickredfoxjumps overthelazybrowndog says:

    You may want to check into hexo and cann

  8. Free2Play says:

    Yes 1.5% is alot. But isn't quest trade more expensive at 2%?

    EDIT: I am stupid. I forgot QT has TFSA

  9. The Entrepreneur Channel says:

    I use Robinhood and TD Ameritrade but this app seems legit.

  10. Olivier Cabot says:

    Nice video, for the cannabis stocks, are you only trading ACB? I am trading TGOD since a month and been up 50% buy around 4,10 and sell 4,50

  11. Dev4stating x says:

    Probably better off buying shares of HMMJ if you want to buy pot stocks. It covers all the major marijuana companies plus pays a dividend.

  12. Abhishek jaglan says:

    Can international students in canada use this app for trading ?

  13. raphael deschenes says:

    they do not have Disney (DIS)

  14. Jashan Multani says:

    This app doesnt have take profit and stop loss?

  15. Nana Koranteng says:

    “Wow Macdonalds on me tonight” hahahahaha

  16. firelord9000 says:

    hello! let’s say you decide to buy a million of x shares, will it show up in another platform like thinkorswim that you purchased a million shares?

  17. khatalyzt says:

    They recently added TFSA!

  18. KaptainBasketball says:

    Can you trade crypto?

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