Difference Between Wealthsimple And Wealthsimple Trade: Complete Guide

What Exactly is Wealthsimple?

Wealthsimple is an easy to use Canadian digital investing, stocks and crypto trading web app that distinguishes itself from its competitors by charging absolutely no fees. 

A Toronto, Ontario based online financial services company founded in Fall of 2014 originally as a robo-advisor algorithmic trading platform called Wealthsimple Invest, it has changed substantially over the previous eight years to also feature Wealthsimple Trade, a no fee discount brokerage service.

Does Wealthsimple Trade Charge Its Users Fees?

Wealthsimple Trade lets investors trade both single stocks and ETFs without paying any fees. The exception is when trading ETFs and stocks which are denominated in USD. In that case, they charge a currency conversion fee when buying and selling. However, past us are the times of paying $7-12 for each trade with digital discount brokerages as was normal a couple years past.

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

Wealthsimple is awesome such that they will allow Canadians to make a minimum deposit of only $1. Many traditional banks and brokerages have quite large min deposit amounts of $1,000-5k. This makes it impossible for the every day investor to start investing. With Wealthsimple Trade, you won’t need to already be wealthy to begin trading stocks and ETFs.

Does Wealthsimple Trade Have TFSA Accounts?

Of course. Wealthsimple Trade has available registered and non-CRA-registered accounts. You may select both RRSP and TFSA accounts in the setup process. 

So Does Wealthsimple Trade Have a Mobile Application?

Yes, Wealthsimple Trade offers a easy to use mobile app that is offered to download on iOS and also Android. The smartphone app makes the registration phase and trading of stocks and ETFs super simple.

Is Wealthsimple Trade Secure?

Definitely. Wealthsimple Trade is legit. Wealthsimple has in excess of 15 billion CAD in Assets Under Management . they’ve been operating for more than 7 years and also at this time employs over 600 people. The main owner is the respected publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the very first no-fees digital brokerage operating in Canada.

But How Can I Fund a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it quite straight forward to deposit to your account. Just connect the app to a chequing or savings account with your Trade account, then fund your account in just a few steps. Deposits from banks to Wealthsimple typically take a few days. Funds can the same way can be moved to your chequing or savings accounts using the same method.

Which Other Benefits and Products Does Wealthsimple Offer?

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

Wealthsimple Tax – Everything you require to prepare for tax year and submit your tax return online free. It’s advertised to be easy, accurate and always totally free tax return filing.

Wealthsimple Spend – A hybrid prepaid debit card and savings product which lets one to earn 1% cashback on all your purchases, and also earn a competitive 1.5% interest on savings.

Personal Finance 101 – Wealthsimple’s free personal finance platform that offers a ton of different online courses on saving, investing, crypto, mortgages and much more. 

All of the mentioned products, along with Wealthsimple Trade can be accessed in the app and on the site with your Wealthsimple login.

So How Can I Begin With Wealthsimple Trade?

Click here to create a new Wealthsimple Trade account. As an exclusive signup bonus offer for our readers you’ll receive the cash value of a random Canadian stock worth $25 up to $4,500 Canadian once you fund your account.

So What if I Still Have Questions Concerning Questrade Vs Wealthsimple Trade Reddit?

If this review still hasn’t answered each of your questions, and you’re still browsing for more info about Difference Between Wealthsimple And Wealthsimple Trade, visit the Wealthsimple site to get answers to all your questions.