Why Wealthsimple is the Best Platform for Buying XEQT in Canada
When it comes to building wealth with a globally diversified all-equity ETF like XEQT (iShares Core Equity ETF Portfolio), the platform you choose for investing can make a big difference. XEQT is a popular option for Canadian investors looking for simplicity and long-term growth, but where should you buy it?
In this post, we’ll explore why Wealthsimple Trade stands out as the best platform for buying XEQT in Canada, comparing it to traditional brokerages like Questrade and banks such as RBC Direct Investing.
🎁 Get $25 of XEQT for free on Wealthsimple
1. Zero-Commission Trading: Keep More of Your Money
One of the biggest advantages of using Wealthsimple Trade is its zero-commission trading. Unlike many other brokerages that charge fees per trade (which can range from $4.95 to $9.99), Wealthsimple allows you to buy and sell XEQT without any trading fees.
Why does this matter?
- With zero commissions, you can dollar-cost average into XEQT more frequently, even with smaller amounts.
- Over time, avoiding trading fees adds up, especially for long-term investors.
For comparison:
- Questrade charges $4.95 per trade at a minimum, though ETFs are free to purchase (but not to sell).
- RBC Direct Investing and other big banks charge up to $9.95 per trade.
With Wealthsimple Trade, you keep more of your returns instead of handing them over to brokerage fees.
🎁 Get $25 of XEQT for free on Wealthsimple
2. User-Friendly Interface for Beginners
Wealthsimple Trade’s mobile app and web platform are incredibly easy to use, making it perfect for beginner and casual investors. The intuitive design simplifies the process of buying and selling ETFs like XEQT.
Key features include:
- Simple account setup: Open a TFSA, RRSP, or non-registered account in minutes.
- No paperwork: Everything can be done digitally, without the hassle of physical forms.
- Real-time quotes: Quickly track the performance of XEQT and other holdings.
By contrast, platforms like Questrade and traditional banks often feel more complex, with steeper learning curves and interfaces geared toward experienced investors.
3. No Minimum Account Balances
Another reason Wealthsimple is ideal for buying XEQT is its lack of minimum account balance requirements.
- You can start investing in XEQT with as little as $1.
- Wealthsimple Trade makes it possible for anyone to build a diversified portfolio, no matter their starting capital.
Traditional brokerages like Questrade may require a minimum balance to avoid fees, while big banks often require larger balances for fee waivers.
4. Fractional Shares: Invest What You Can Afford
Wealthsimple Trade offers fractional shares, a game-changer for investors with smaller budgets.
XEQT currently trades for around $25–$30 per share. With Wealthsimple, you don’t need to save up enough to buy a full share. Instead, you can invest as little as $1 in a fraction of XEQT, which makes it easier to stick to your investment plan and stay consistent.
Most traditional brokerages don’t offer fractional share investing, which can make Wealthsimple Trade more accessible to new investors.
🎁 Get $25 of XEQT for free on Wealthsimple
5. Seamless Tax-Efficient Account Options
Wealthsimple Trade makes it easy to invest in XEQT within tax-advantaged accounts like a TFSA (Tax-Free Savings Account) or an RRSP (Registered Retirement Savings Plan). These accounts allow you to grow your investment without worrying about taxes on dividends or capital gains.
Big banks also offer TFSAs and RRSPs, but their platforms are often more cumbersome, and trading fees eat into your returns. Wealthsimple simplifies the process, helping you maximize your tax advantages.
How Does Wealthsimple Compare to Other Brokerages?
| Feature | Wealthsimple Trade | Questrade | Big Banks (e.g., RBC) |
|---|---|---|---|
| Trading Fees | $0 | $0 to buy ETFs, $4.95 to sell | $9.95 per trade |
| User Interface | Beginner-friendly | Moderate complexity | Complex |
| Minimum Balance Required | $0 | $1,000+ | Varies |
| Fractional Shares | Yes | No | No |
| Tax-Efficient Accounts | Yes (TFSA, RRSP) | Yes | Yes |
Why XEQT and Wealthsimple Are a Perfect Match
XEQT is a one-stop, globally diversified equity portfolio that simplifies investing. It’s a low-cost ETF with a management expense ratio (MER) of just 0.20%, making it ideal for Canadian investors seeking diversification and long-term growth.
When you combine XEQT’s simplicity with Wealthsimple Trade’s zero-commission model, fractional shares, and user-friendly experience, you get a perfect match for stress-free investing.
Final Thoughts
For Canadian investors looking to buy XEQT, Wealthsimple Trade offers unmatched advantages: no trading fees, no account minimums, an easy-to-use platform, and fractional shares. These features make it the best platform for both beginners and experienced investors alike.
Ready to start investing? Open a Wealthsimple Trade account today and take the first step toward financial freedom with XEQT.
By using a platform like Wealthsimple, you can focus on what matters most—growing your portfolio and reaching your financial goals.