Bonds Wealthsimple Trade: Complete Guide

What Exactly is Wealthsimple?

Wealthsimple is a simple to use Canadian online investing, stock plus crypto trading app that differentiates itself from similar apps by charging no fees. 

A leading Canadian online financial services company founded in the Fall of twenty fourteen exclusively as a robo advisor automated trading app named Wealthsimple Invest, it has grown considerably over the last eight years to feature Wealthsimple Trade, a no fee discount brokerage service.

Does Wealthsimple Trade Charge Fees?

Wealthsimple Trade lets consumers trade individual stocks and ETFs without needing to pay commissions. The exception to this is when you’re trading ETFs and stocks which are displayed in USD currency. In which case, they will charge a small currency conversion fee both when buying and selling. But, gone are the days of having to pay Upwards of $7 per trade with discount brokerages as was expected just a couple years ago.

How Much in Funds Will I Need to Have in Order to Start Investing on Wealthsimple Trade?

Wealthsimple is cool in that they will allow new customers to make a minimum deposit of just $1. Many traditional banks and brokerages have sizeable minimum deposit amounts of 1K-5k. This makes it tough for the common investor to start investing. With Wealthsimple Trade, you won’t need to be wealthy to get started with trading stocks and ETFs.

Does Wealthsimple Trade Have TFSA Accounts?

They do. Wealthsimple Trade has available registered and non-CRA-registered accounts. You may choose between both RRSP and TFSA accounts in the setup process. 

Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade has a easy to use mobile app that is available to download on iOS and Google Play. The mobile app makes the enrollment phase and also trading of stocks and ETFs painless.

But Is Wealthsimple Trade Safe?

Most definitely. Wealthsimple Trade is safe. Wealthsimple boasts more than 15 billion Canadian in Assets Under Management (AUM). These folks have been operating for more than 7 years and now employs more than 600 folks. The main shareholder is the large public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fees online discount brokerage to operate in Canada.

So How Do I Add Funds to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it easy to add funds to your account. Simply connect a chequing or savings account with your Trade account, then fund your account in only a couple of clicks. Deposits from banks to Wealthsimple normally take a couple of days. Funds can just as easily be moved back to a chequing or savings account through the same process.

What Other Features and Products Are Available?

Wealthsimple Cash – This is alternative to e-Transfers that allows you to quickly and easily transfer cash to friends and family in Canada.

Wealthsimple Tax – Everything you’ll require to get ready for this tax season and submit your taxes online free. It’s pitched as easy, accurate and always free income tax filing.

Wealthsimple Spend – A combination pre paid visa and savings account that lets you to get 1% cashback on your spending, as well as get a very competitive 1.5% interest rate on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that offers a variety of different online courses on different topics such as saving, investing, crypto, home buying and more. 

Each of the mentioned products, including Wealthsimple Trade may be found within the app or at the website with one login.

So How Should I Start Using Wealthsimple Trade?

Click here to signup for your Wealthsimple Trade account. As an exclusive registration bonus offer for our readers you’ll receive the equivalent cash value of a random stock valued at $25 up to $4,500 Canadian as soon as you add funds to your account.

But What if I Still Have Questions Concerning Kw X Wealthsimple?

If this article still hasn’t answered each of your questions, and you’re still looking for more specific answers relating to Bonds Wealthsimple Trade, check out the Wealthsimple website to get answers to every one of your questions.