Free Stock On Wealthsimple Trade: Complete Guide

What Exactly is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian digital Financial, stock and crypto trading web app that sets itself apart from its competitors by charging no fees. 

A fintech company launched in the Fall 2014 exclusively as a robo advisor algorithmic automated trading app called Wealthsimple Invest, it has grown considerably over the past 8 years to also include Wealthsimple Trade, a zero fee discount brokerage app.

Does Wealthsimple Trade Charge Its Users Fees?

Wealthsimple Trade allows Canadian consumers to trade single stocks and also ETFs without having to pay fees. The exception is when trading stocks and ETFs which are listed in USD. In which case, they do charge a currency conversion fee both when buying and selling. However, behind us are the times of having to pay more than $7 per each trade with discount brokerages as was normal only a couple years past.

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

Wealthsimple is awesome in that they will allow Canadian investors to make a minimum deposit of just $1. The majority of alternative banks and brokerages have quite large minimum deposit amounts of $1000-5k. This makes it difficult for the normal new investor to get started. With Wealthsimple Trade, you don’t have to already be wealthy to get started with trading stocks and ETFs.

So Does Wealthsimple Trade Have RRSP Accounts?

Yes. Wealthsimple Trade has both CRA registered and non-registered account types. You are free to select between both RRSP and TFSA account types during the setup process. 

So Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade has a convenient mobile app offered on both iOS and also Google Play. The smartphone app makes the enrollment process and also the trading of stocks and ETFs incredibly simple.

So Is Wealthsimple Trade Secure?

Most definitely. Wealthsimple Trade is safe. Wealthsimple reports over 15 billion CAD in Assets Under Management . This company has been operating for more than 7 years and currently employs over 600 people. The primary owner is the public Canadian entity Power Corp of Canada. Weapthsimple Trade was the very first no-fees digital brokerage operating in Canada.

But How Do I Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it very simple to fund a new account. Simply connect a chequing or savings account with your Trade account, then add funds to your account in only a couple of clicks. Deposits from your bank to Wealthsimple typically take just a few days. Funds can the same way can be moved back to your chequing or savings account by using the exact same steps.

Which Other Benefits and Products Are Offered by Wealthsimple?

Wealthsimple Cash – An equivalent to Interac E-Transfers that allows one to quickly and easily transfer money to friends and family in Canada.

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

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

Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which offers a ton of different courses on different topics such as saving, investments, crypto, real estate and more. 

All of the above features, including Wealthsimple Trade may be found within the mobile app or at the website with your Wealthsimple login.

How do I Begin With Wealthsimple Trade?

Click here to setup your Wealthsimple Trade account. As an exclusive signup bonus to our readers you’ll receive the equivalent cash value of a stock worth up to $4,500 Canadian as soon as you fund your account.

What if I Still Have Additional Questions Concerning Simple Tax Wealthsimple?

If this review hasn’t given you the answers to each of your questions, and you’re browsing for further info about Free Stock On Wealthsimple Trade, go to the Wealthsimple website for answers to every one of your questions.