u/youngsandwich1974

I'm transferring registered accounts to Wealthsimple but not my non-registered one for a variety of reasons. I might move a portion of it though.

Does anyone know if WS's accounting of dividend income and capital gains is better/worse than IBKR (Canada)? IBKR is better than Questrade but also re-issues certain T-slips for whatever reason every year.

Also, by doing my taxes with WS make it easier with auto-populating non-reg tax details?

I love how people say I trade CAD at Wealthsimple and USD at Questrade. I used to be one of them.

If you're holding your RRSP at Questrade you'll be awarded high admin fees of $50 USD +hst per withdrawal. On a 5k CAD equivalent withdrawal, that's 1.5% fee, each and every time.

If you withdraw in CAD, it's only $50 CAD +hst, but you pay the 1.5% fx fee first.

Some brokers don't even charge this admin fee, e.g. Wealthsimple and IBKR Canada.

Edit:
Questrade RRIF withdrawals are generally free when following a scheduled plan. However, you will pay fees—often $50 +HST or more—when making "excess" or manual, ad-hoc withdrawals above your scheduled annual minimum.

... so was the title misleading? Not on purpose. I think I have clarified now when you do have to pay them.

According to QT my partial transfer out in CAD was supposed to be completed between May 4-8. I received an email today (May 7) stating it's been delayed due to trading and for me to continue with the transfer I have to call in to confirm. I have only been trading US with all the CAD settled.

While they emailed me to pause it they won't let me email them to continue it.

I had initially only started a partial transfer in 1 account. After this and another delay on my LIRA withdrawal, I think I will need to move all my money out of QT before things get worse.