Fractional Shares Wealthsimple Trade: Complete Guide

What Exactly is Wealthsimple?

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

A leading Canadian fintech business launched in Fall twenty fourteen originally as a robo advisor trading platform named Wealthsimple Invest, it has improved substantially over the past eight years to also feature Wealthsimple Trade, a zero fees discount brokerage service.

Does Wealthsimple Trade Charge Any Fees?

Wealthsimple Trade lets Canadian investors to trade both individual stocks and ETFs without having to pay fees. The exception to this is when trading stocks that are displayed in US Dollars. In which case, they do charge a small currency conversion fee both when buying and selling. But, behind us are the days of paying $7-12 per trade with online discount brokerages as was normal just a couple years ago.

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

Wealthsimple is unique in that they will allow Canadian investors to make a minimum deposit of just $1. Many alternative banks and brokerages have quite large minimum deposit amounts of $1,000-$5000. This makes it hard for the typical new investor to get started. With Wealthsimple Trade, one doesn’t have to be wealthy to get started with trading stocks and ETFs.

So Does Wealthsimple Trade Have RRSP Accounts?

Yes. Wealthsimple Trade offers registered and non-registered accounts. You are able to select both RRSP and TFSA account types in the setup process. 

But Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade offers a well designed mobile app offered to download on iOS and Google Play. The mobile app makes the signup phase and also trading of stocks and ETFs very painless.

But Is Wealthsimple Trade Secure?

Most definitely. Wealthsimple Trade is safe. Wealthsimple has over 15 billion Canadian of Assets Under Management . they’ve been expanding for more than 7 years and right now employs roughly 600 folks. The primary shareholder is the publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fees digital discount brokerage operating in Canada.

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

The Wealthsimple Trade mobile app makes it quite straight forward to add money to a new account. Simply connect a chequing or savings account with your Trade account, and add money to your account in just a few steps. Deposits from your bank to Wealthsimple usually take a few days. Funds can just as easily be moved back to a chequing or savings accounts by the same steps.

What Other Features and Products Are Available?

Wealthsimple Cash – An alternative to Interac E-Transfers which allow one to quickly and easily transfer cash to friends and family in Canada.

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

Wealthsimple Spend – A hybrid pre paid debit card and savings product that allows one to recieve 1% cashback on all 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 platform that offers a ton of different courses on saving, investing, crypto, real estate and more. 

All of the above features, including Wealthsimple Trade may be found on the mobile app or from their site with one login.

How do I Get Started Using Wealthsimple Trade?

Click here to create a Wealthsimple Trade account. As an exclusive signup bonus offer to our readers you’ll receive the equivalent cash value of a share worth $25 up to $4,500 CAD when you make an initial deposit to your account.

So What if I Still Have Questions About Wealthsimple S&p 500?

If this blog post still hasn’t given you the answers to each of your questions, and you’re looking for additional specific answers relating to Fractional Shares Wealthsimple Trade, check out the Wealthsimple website to find answers to all your questions.