Does Wealthsimple Trade Have Fees: Complete Guide

What is Wealthsimple?

Wealthsimple is a simple to use Canadian digital Financial, securities and crypto trading platform that distinguishes itself from the competition by charging absolutely no fees. 

A leading Canadian online financial services company founded in Fall 2014 originally as a robo advisor algorithmic automated trading app called Wealthsimple Invest, it has evolved considerably over the previous eight years to also include Wealthsimple Trade, a no fee discount brokerage service.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade allows investors trade both single stocks and also ETFs without needing to pay commissions. The exception is when you’re trading stocks that are displayed in USD. In this case, they charge a small currency conversion fee both when buying and selling. However, behind us are the days of having to pay $7-12 for each trade with discount brokerages as was normal only a few years ago.

Exactly How Much Cash Will I Need to Have to Begin Investing on Wealthsimple Trade?

Wealthsimple is unique in that they will allow new customers to make a minimum deposit of just $1. Most alternative banks and discount brokerages have large initial deposit amounts of 1K-5K. This makes it difficult for the common investor to start. With Wealthsimple Trade, you don’t have to already be wealthy to begin trading stocks and ETFs.

But Does Wealthsimple Trade Offer TFSA Accounts?

It does. Wealthsimple Trade offers registered and non-CRA-registered accounts. You may select both RRSP and TFSA account types in the setup process. 

But Does Wealthsimple Trade Have a Mobile Application?

Yes, Wealthsimple Trade offers a modern mobile app offered to download on iOS and also Google Play. The app makes the signup steps and also trading of stocks and ETFs super simple.

So Is Wealthsimple Trade Secure?

For sure. Wealthsimple Trade is trustworthy. Wealthsimple has over 15 billion CAD in Assets Under Management . They have been doing business for more than 7 years and right now employs more than 600 people. The primary owner is the large public Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fees online brokerage to operate in Canada.

How Can I Add Funds to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it easy to deposit to your new account. Just connect the app to a chequing or savings account to your Trade account, and then add funds to your account in simply a few steps. Deposits from banks to Wealthsimple usually take only a couple of days. Funds can just as easily be moved to your chequing or savings accounts through the exact same steps.

Which Other Features and Products Does Wealthsimple Offer?

Wealthsimple Cash – This is alternative to e-transfers which allows you to quickly and simply send money to friends and family in Canada.

Wealthsimple Tax – Everything you require to get ready for tax year and submit your taxes online for free. It’s described to be simple, accurate and always totally free tax filing.

Wealthsimple Spend – A hybrid pre paid visa and savings account that lets you to recieve 1% cashback on all your everyday 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 bunch of online courses on topics like saving, investments, crypto, home buying and more. 

All of the listed features, including Wealthsimple Trade can be accessed on the mobile app and from the website with one login.

So How Should I Begin Using Wealthsimple Trade?

Click here to signup for a new Wealthsimple Trade account. As a special registration bonus for our readers you’ll get the cash value of a share worth up to $4,500 CAD once you fund your account.

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

If this review still hasn’t given you the answers to each of your questions, and you’re browsing for more specific facts relating to Does Wealthsimple Trade Have Fees, go to the Wealthsimple website to get answers to every one of your questions.