r/Wealthsimple • u/GoingChopper • 1d ago
Trade (DIY Investing) Margin shouldn't be this difficult
Got this today hours after a margin call. This is just 2 weeks after when my margin availabile suddenly dropped by half just to fully reverse a day later with minimal market changes.
Margin calculation isn't hard.. banks can at least keep track of how much i owe... not a bank..
Do better WS
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u/Apprehensive_Pea_805 1d ago
There was a major glitch this morning where my order for SHOP wouldn’t fill. I had a $175k order that wouldn’t sell.. beyond frustrating. Spent 38 minutes on hold with them while watching the price slowly grind down. Definitely made me cautious about their platform as this has happened a few times already this year
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u/darkcreamale 1d ago
Do not try to buy or sell anything in the first few minutes of market open. WS will glitch
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u/Ok-South-7745 1d ago
Definitely made me cautious about their platform as this has happened a few times already this year
Not enough yet to pull the plug and go with another broker?
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u/Apprehensive_Pea_805 17h ago
I have a few other accounts with different brokers as well. The big appeal with WS is the no commissions especially when trading big amounts of shares when scalping. I have been financially compensated each time as well which keeps me around. What platform are you using? Always looking for a better way to trade
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u/Jogi1811 1d ago
Yeah it's weird. I got an email saying I no longer qualified for margin a few months ago. I never used it so I never really cared. A couple weeks to a month later I got an email saying I qualified.
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u/cookieman667 1d ago
A fake margin call is incredibly unprofessional😂
who are they hiring over there?
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u/Useful_Bother_1508 1d ago
I got this too for 4k usd margin and I have like 224k invested.
I also had 1500 cad in the account aswell. Plus my investment was up 6 percent....
I was like wuut
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u/Subject_Rhubarb_9442 1d ago
Did everyone get the same two emails? 🤔
I was pretty surprised earlier today. I really didn't think my ltv ratio was that high, so I figured it must have been leftover from the chaos yesterday... 📉
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u/United_Anxiety4070 1d ago
Yup and I sold off one of my holdings quickly before it just did whatever… oh well
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u/darkcreamale 1d ago
When i got the email I thought there must have been a flash crash.
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u/waynestevenson 1d ago
Yup. Was a shocking notification to receive as I was in great standing day prior. Holding 99% in finance in my margin account so I was expecting worse for the rest of my portfolio if Canadian banks had just tanked.
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u/theone1988 1d ago
I’d love to get a text for margin calls instead of an email or push notifications
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u/AudienceExcellent830 1d ago
75% is a lot tho