Benefits Of Wealthsimple Trade: Complete Guide

What is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian web based investing, stocks and crypto trading platform that distinguishes itself from the competition by charging no fees. 

A Toronto, Ontario based online financial services company launched in the Fall twenty fourteen originally as a robo-advisor algorithmic automated trading platform called Wealthsimple Invest, it has evolved considerably over the previous eight years to feature Wealthsimple Trade, a zero fee discount brokerage service.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade lets Canadian investors trade both individual stocks and also ETFs without paying fees. The exception is when you’re trading ETFs and stocks that are denominated in US Dollars. In this case, they charge a small currency conversion fee both when buying and selling. But, past us are the days of having to pay $7-12 per each trade with online discount brokerages as was the case a few years past.

Exactly How Much Money Will I Need to Have in Order to Start on Wealthsimple Trade?

Wealthsimple is special in that they allow investors to make a minimum deposit of just $1. Many traditional banks and brokerages have large initial deposit amounts of 1K-5K. This makes it hard for the everyday investor to get started. With Wealthsimple Trade, you don’t have to be wealthy to start trading stocks and ETFs.

So Does Wealthsimple Trade Offer Registered Accounts?

It does. Wealthsimple Trade has registered and non-registered accounts. You are free to choose both RRSP and TFSA accounts in the setup process. 

But Does Wealthsimple Trade Have a Mobile Application?

Yes, Wealthsimple Trade has a modern mobile app that is available on IOS and also Google Play. The smartphone app makes the registration process and also trading of stocks and ETFs incredibly a breeze.

So Is Wealthsimple Trade Legit?

For sure. Wealthsimple Trade is secure. Wealthsimple boasts more than 15 billion Canadian in Assets Under Management (AUM). These folks have been doing business for more than 7 years and also currently employs over 600 Canadians. The majority owner is the large publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fees online brokerage to operate in Canada.

So How Can I Fund a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it very easy to fund your account. Just connect to a chequing or savings account to your Trade account, then add money to your account in just a couple of steps. Deposits from financial institutions to Wealthsimple normally take just a few days. Funds can also be moved back to a chequing or savings accounts using the exact same steps.

What Other Features and Products Are Available?

Wealthsimple Cash – This is equivalent to e-transfers which allow anyone to quickly and simply transfer cash to friends and family in Canada.

Wealthsimple Tax – Everything you’ll need to get ready for this tax year and submit your tax return online free. It’s advertised to be simple, accurate and always free tax filing.

Wealthsimple Spend – A combination prepaid visa and savings product that allows you to get 1% cashback on your spending, as well as earn a very competitive 1.5% interest rate on savings.

Personal Finance 101 – Wealthsimple’s free personal finance platform that offers a bunch of online courses on saving, investing, crypto, real estate and more. 

Every one of the listed products, along with Wealthsimple Trade can be accessed inside the app or at their website with one login.

So How Should I Begin Using Wealthsimple Trade?

Click here to register for your Wealthsimple Trade account. As an exclusive signup bonus to our readers you’ll receive the equivalent cash value of a stock worth $25 up to $4,500 Canadian when you deposit to your account.

So What if I Still Have Questions About Katchen Wealthsimple?

If this blog post still hasn’t given you the answers to each of your questions, and you’re searching for additional specific answers about Benefits Of Wealthsimple Trade, visit the Wealthsimple website to get answers to all your questions.