Best Penny Stocks On Wealthsimple Trade: Complete Guide

What Exactly is Wealthsimple?

Wealthsimple is a simple to use Canadian digital Financial, stocks and crypto trading app that distinguishes itself from its competitors by charging absolutely no fees. 

A fintech company founded in Fall twenty fourteen exclusively as a robo advisor algorithmic trading platform called Wealthsimple Invest, it has grown significantly over the last 8 years to feature Wealthsimple Trade, a no fees discount brokerage service.

Does Wealthsimple Trade Charge Any Fees?

Wealthsimple Trade allows Canadian consumers to trade individual stocks and ETFs without having to pay any fees. The exception to this is when trading stocks that are listed in US Dollars. In which case, they charge a small currency conversion fee both when buying and selling. But, behind us are the times of having to pay Upwards of $7 per each trade with online discount brokerages as was expected just a few years ago.

Exactly How Much Money Will I Need in Order to Get Started With Wealthsimple Trade?

Wealthsimple is cool such that they allow new customers to make a minimum deposit of just $1. Many alternative banks and discount brokerages have large minimum deposit amounts of 1k-5k. This makes it hard for the normal new investor to start investing. With Wealthsimple Trade, one doesn’t need to be wealthy to get started with trading stocks and ETFs.

But Does Wealthsimple Trade Offer RRSP Accounts?

Of course. Wealthsimple Trade offers CRA registered and non-CRA-registered account types. One are able to choose between both RRSP and TFSA account types in the setup process. 

But Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade offers a easy to use mobile app offered to download on iOS and Google Play. The mobile app makes the registration steps and trading of stocks and ETFs truly painless.

So Is Wealthsimple Trade Trustworthy?

. Wealthsimple Trade is safe. Wealthsimple reports in excess of 15 billion CAD of Assets Under Management (AUM). These folks have been operating for more than 7 years and right now employs about 600 folks. The main owner is the public Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fees digital brokerage to operate in Canada.

So How Does One Add Money to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it straight forward to add funds to an account. Simply connect to a chequing or savings account to your Trade account, and then add funds to your account in just a few steps. Deposits from your bank to Wealthsimple normally take just a couple of days. Funds can just as easily be moved to your chequing or savings account with the exact same process.

Which Other Features and Products Are Offered by Wealthsimple?

Wealthsimple Cash – An equivalent to e-Transfers that allows you to quickly and efficiently send money to friends and family in Canada.

Wealthsimple Tax – Everything you’ll require to prepare for this tax season and submit your tax return online for free. It’s described to be easy, accurate and always totally free income tax filing.

Wealthsimple Spend – A hybrid prepaid visa and savings account that allows one to recieve 1% cashback on your everyday purchases, as well as earn a competitive 1.5% interest on savings.

Personal Finance 101 – Wealthsimple’s free personal finance learning platform which offers a ton of different online courses on different topics such as saving, investing, crypto, home buying and much more. 

All of the listed features, including Wealthsimple Trade may be found on the app and from the website with one login.

But How do I Begin With Wealthsimple Trade?

Click here to setup a Wealthsimple Trade account. For an exclusive signup bonus to our readers you’ll receive the cash value of a random stock worth $25 up to $4,500 Canadian when you make an initial deposit to your account.

So What if I Still Have Additional Questions About Koho Wealthsimple?

If this review still hasn’t answered each of your questions, and you’re looking for additional info about Best Penny Stocks On Wealthsimple Trade, visit the Wealthsimple website to find answers to each your questions.