The more you trade the less you make..... Usually! I think 50 trades a month is a very high bar, very unreasonable for a company who's bread and butter is retail. seems like each passing month wealthsimple gets closer to an organized gambling site. Just wait for the prediction markets....
3,774 views
44 Comments
Maxwell @maxstocks · 11d
This shouldn’t look like this btw… 🤦♂️ the T&C are supposed to be a footnote, it looks like on android it’s taking up way too much of the screen Also I think this one should have been targeting traders only, will chat with our team
Moe @moe_on_margin · 11dEdited
All the new generation apps are all like casinos just look at push notifications “you’re stock is up 10%”, “your option is down 50%”, “stock XX at ATH” it’s all designed to play on retail investors FOMO and keep the chase going. Also those “top movers” sections are the biggest bear trap for new investors. Not to mention they are all heavily invested in actual gambling now too through prediction markets and sometimes on the same apps, it’s trading and gambling side by side!! How is that ok… 🙄🙄 I enjoy the old guard brokers better where the apps are boring and hard to navigate 😅😅 Fidelity and Schwab are great in that regard.
Gerald @aetos · 11d
I mean, I sell covered calls and cash secured puts all the time and I certainly don't feel like a gambler. Also, predictions market is already a thing with WS. Much like the Casino you can just walk on by; it js a separate app, not built into WS Brokerage.
Raj @double_oh · 11d
Introducing prediction markets was the worst. They even had a "trade show" to talk about how great it is to have this new gambling feature. :-D There have been a lot of great new features that are getting overshadowed by this: - Corporate business accounts. - Portfolio Line of Credit. - Using the PLOC to support overdrafts. - Trading authority. I'm waiting for them to fully implement child accounts so I can move my daughter off of RBC finally. I guess they make more money with prediction markets and active trader accounts so have to wait longer.
See the full comment section 👀Sign up for the full Blossom experience!
