How Do I Withdraw Money From Wealthsimple Trade: Complete Guide

What Exactly is Wealthsimple?

Wealthsimple is an easy to use Canadian digital Financial, securities and crypto trading platform that distinguishes itself from its competitors by charging no fees. 

A Toronto, Ontario based online financial services business founded in the Autumn of 2014 originally as a robo-advisor algorithmic automated trading platform called Wealthsimple Invest, it has grown substantially over the past 8 years to also include Wealthsimple Trade, a no fee discount brokerage service.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade allows Canadian consumers to trade stand alone stocks and ETFs without having to pay any fees. The exception is when you’re trading stocks and ETFs that are denominated in USD. In this case, they will charge a nominal currency conversion fee when buying and selling. However, past us are the days of having to pay Upwards of $7 per trade with digital discount brokerages as was the norm a few years ago.

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

Wealthsimple is awesome such that they will allow investors to make a minimum deposit of only $1. Most alternative banks and discount brokerages have sizeable minimum deposit amounts of $1000-$5000. This makes it difficult for the common investor to start investing. With Wealthsimple Trade, you don’t have to be wealthy to begin trading stocks and ETFs.

So Does Wealthsimple Trade Offer RRSP Accounts?

Of course. Wealthsimple Trade offers both CRA registered and non-CRA-registered account types. You can select between both RRSP and TFSA accounts during the setup process. 

But Does Wealthsimple Trade Have a Mobile Application?

Yes, Wealthsimple Trade has a convenient mobile app offered to download on iOS and also Google Play. The app makes the signup steps and the trading of stocks and ETFs very painless.

Is Wealthsimple Trade Safe?

For sure. Wealthsimple Trade is trustworthy. Wealthsimple reports in excess of 15 billion CAD in Assets Under Management . This company has been operating for more than 7 years and employs over 600 folks. The primary owner is the public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the first no-fee digital brokerage to operate in Canada.

But How Does One Add Money to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it incredibly simple to add money to a new account. Just connect to a chequing or savings account to your Trade account, and add funds to your account in simply a couple of clicks. Deposits from banks to Wealthsimple normally take just a couple of days. Funds can the same way can be moved back to your chequing or savings accounts by using the same method.

Which Additional Benefits and Products Are Available?

Wealthsimple Cash – This is equivalent to e-transfers which allows one to quickly and easily transfer cash to friends and family in Canada.

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

Wealthsimple Spend – A combination pre paid visa and savings account that allows you to recieve 1% cashback on your purchases, and also get a competitive 1.5% interest rate on savings.

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

Every one of the above products, including Wealthsimple Trade may be accessed on the mobile app and on their website with your Wealthsimple login.

So How Can I Start Using Wealthsimple Trade?

Click here to create a new Wealthsimple Trade account. As a special registration bonus offer to our readers you’ll receive the equivalent cash value of a random Canadian stock worth $25 up to $4,500 CAD when you deposit to your account.

But What if I Still Have Questions Concerning Shakepay Vs Wealthsimple?

If this review hasn’t answered each of your questions, and you’re looking for additional specific information about How Do I Withdraw Money From Wealthsimple Trade, check out the Wealthsimple site to find answers to every one of your questions.