{ "media_type": "text", "post_content": "How do you guys invest in US equities. Obviously wealthsimple trade is a scam.", "post_id": "6092f18a711613002097770d", "reply_count": 4, "vote_count": 0, "bowl_id": "608176757fc95a0021f130ce", "bowl_name": "Canadian Personal Investment Chat", "feed_type": "bowl" }
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How do you guys invest in US equities. Obviously wealthsimple trade is a scam.

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Why is it a scam? Because it charges you 1.5% currency fee? You’d be surprised at how much the banks charge...

If you really want to avoid that, open an account at a bank in USD, and use norbert’s gambit to deposit USD directly and trade.

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Well WS u have to pay both ways on every trade. You can't have US currency in WS.

I use a US based brokerage

Depends how much you want to trade. If you plan on buying some US stocks and holding for the next 40 years, getting dinged the WS exchange fee a few times isn't a big deal. If you plan on making lots of trades, then yes, you're better off using a different brokerage. I know quite a few people use Questrade, although I've never used it. I just use my TD Direct Investing because I can hold a USD cash balance between trades.

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