Is Wealthsimple Trade Legit: Complete Guide

What is Wealthsimple?

Wealthsimple is a simple to use Canadian web based investing, securities plus crypto trading web app that distinguishes itself from other apps by charging absolutely no fees. 

A leading Canadian online financial services business founded in the Fall of 2014 originally as a robo-advisor algorithmic trading platform named Wealthsimple Invest, it has improved considerably over the previous 8 years to also include Wealthsimple Trade, a no fee discount brokerage service.

Does Wealthsimple Trade Charge Fees?

Wealthsimple Trade lets consumers to trade single stocks and also ETFs without needing to pay commissions. The exception is when you’re trading ETFs and stocks that are denominated in USD currency. In this case, they do charge a nominal currency conversion fee both when buying and selling. However, past us are the times of paying more than $7 per each trade with online discount brokerages as was common only a few years past.

Exactly How Much Cash do I Need in Order to Get Started With Wealthsimple Trade?

Wealthsimple is cool in that they allow Canadians to make a minimum deposit of just $1. Many alternative banks and discount brokerages have large min deposit amounts of 1K-5K. This makes it difficult for the normal investor to start. With Wealthsimple Trade, you won’t need to already be wealthy to start trading stocks and ETFs.

Does Wealthsimple Trade Offer TFSA Accounts?

Of course. Wealthsimple Trade has available both CRA registered and non-registered accounts. One may select both RRSP and TFSA accounts in the setup process. 

Does Wealthsimple Trade Have a Mobile Application?

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

So Is Wealthsimple Trade Trustworthy?

Of course. Wealthsimple Trade is safe. Wealthsimple reports in excess of 15 billion Canadian of Assets Under Management . they’ve been in business for more than 7 years and also now employs about 600 Canadians. The majority shareholder is the public Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fee online brokerage to operate in Canada.

So How Do I Add Money to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it incredibly simple to fund your new account. Just connect the app to a chequing or savings account to your Trade account, and fund your account in only a couple of steps. Deposits from financial institutions to Wealthsimple typically take only a few days. Funds can the same way can be moved back to a chequing or savings accounts by using the same method.

Which Additional Features and Products Are Offered by Wealthsimple?

Wealthsimple Cash – An alternative to Interac E-Transfers that allows anyone to quickly and simply transfer money to friends and family in Canada.

Wealthsimple Tax – Everything you require to get ready for this tax season and file your taxes online for free. It’s pitched to be simple, accurate and always free income tax filing.

Wealthsimple Spend – A combination pre paid debit card and savings product that allows you to get 1% cashback on your purchases, and also get a very competitive 1.5% interest on savings.

Personal Finance 101 – Wealthsimple’s free personal finance education platform which offers a ton of online courses on topics like saving, investments, crypto, mortgages and more. 

Every one of the listed features, along with Wealthsimple Trade may be found within the mobile app or from the website with a single login.

But How do I Start With Wealthsimple Trade?

Click here to create a new Wealthsimple Trade account. For a special signup bonus offer to our audience you’ll get the cash value of a share valued at up to $4,500 CAD when you deposit to your account.

So What if I Still Have Questions About Us Stocks Wealthsimple Reddit?

If this review still hasn’t given you the answers to all of your questions, and you’re still browsing for further answers about Is Wealthsimple Trade Legit, check out the Wealthsimple website to find answers to each your questions.