How To Use Wealthsimple Trade: Complete Guide

What is Wealthsimple?

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

A leading Canadian online financial services company founded in the Fall of twenty fourteen exclusively as a robo advisor algorithmic automated trading platform named Wealthsimple Invest, it has evolved substantially over the previous 8 years to also include Wealthsimple Trade, a zero fee discount brokerage platform.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade lets Canadian investors trade stand alone stocks and also ETFs without paying any fees. The exception to this is when you’re trading stocks and ETFs that are displayed in USD. In that case, they do charge a small currency conversion fee when buying and selling. However, behind us are the days of having to pay more than $7 per trade with digital discount brokerages as was the norm a couple years past.

Exactly How Much in Funds Will I Need in Order to Start Investing With Wealthsimple Trade?

Wealthsimple is cool such that they allow Canadians to make a minimum deposit of only $1. Many traditional banks and discount brokerages have large min deposit amounts of 1k-$5000. This makes it hard for the common investor to start. With Wealthsimple Trade, you don’t need to already be wealthy to begin trading stocks and ETFs.

Does Wealthsimple Trade Offer TFSA Accounts?

They do. Wealthsimple Trade has both registered and non-CRA-registered account types. You are able to select between both RRSP and TFSA accounts in the setup phase. 

Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade offers a easy to use mobile app offered to download on both IOS and also Android. The smartphone app makes the enrollment process and also trading of stocks and ETFs a breeze.

But Is Wealthsimple Trade Safe?

Of course. Wealthsimple Trade is legit. Wealthsimple reports over 15 billion Canadian in Assets Under Management (AUM). This company has been expanding for more than 7 years and also employs over 600 folks. The main shareholder is the public Canadian entity Power Corp of Canada. Weapthsimple Trade was the very first no-fee online brokerage operating in Canada.

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

The Wealthsimple Trade smartphone app makes it quite simple to add funds to your new account. Simply connect the app to a chequing or savings account to your Trade account, then add money to your account in just a few clicks. Deposits from financial institutions to Wealthsimple usually take a few days. Funds can also be moved back to your chequing or savings account through the exact same method.

Which Additional Benefits and Products Are Available?

Wealthsimple Cash – An equivalent to Interac E-Transfers that allows you to quickly and simply send cash 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 as easy, accurate and always free income tax filing.

Wealthsimple Spend – A combination pre paid visa and savings account which allows one to recieve 1% cashback on all your spending, and also earn a very competitive 1.5% interest rate on savings.

Personal Finance 101 – Wealthsimple’s free personal finance education platform that offers a bunch of online courses on saving, investing, crypto, home buying and more. 

Each of the listed features, including Wealthsimple Trade can be found on the mobile app or on the site with your Wealthsimple login.

So How Should I Start With Wealthsimple Trade?

Click here to signup for a new Wealthsimple Trade account. For a special registration bonus offer to our audience you’ll receive the equivalent cash value of a random stock worth up to $4,500 Canadian when you fund your account.

But What if I Still Have Additional Questions Concerning Is Wealthsimple Trade Safe?

If this blog post didn’t given you the answers to each of your questions, and you’re still browsing for further answers about How To Use Wealthsimple Trade, visit the Wealthsimple site to find answers to all your questions.