Mutual Funds Wealthsimple Trade: Complete Guide

What is Wealthsimple?

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

A leading Canadian fintech company launched in Autumn twenty fourteen exclusively as a robo advisor automated trading platform called Wealthsimple Invest, it has evolved significantly over the previous eight years to also feature Wealthsimple Trade, a zero fee discount brokerage service.

Does Wealthsimple Trade Charge Its Users Fees?

Wealthsimple Trade allows Canadian consumers trade both individual stocks and also ETFs without needing to pay any fees. The exception to this is when you’re trading stocks which are denominated in US Dollars. In which case, they do charge a nominal currency conversion fee both when buying and selling. However, gone are the days of having to pay Upwards of $7 per each trade with discount brokerages as was common a few years past.

Exactly How Much in Funds do I Need to Have in Order to Begin Investing With Wealthsimple Trade?

Wealthsimple is unique in that they will allow Canadians to make a minimum deposit of only $1. Most alternative banks and discount brokerages have large min deposit amounts of 1K-$5,000. This makes it difficult for the typical investor to get started. With Wealthsimple Trade, you don’t need to already be wealthy to get started with trading stocks and ETFs.

So Does Wealthsimple Trade Have RRSP Accounts?

They do. Wealthsimple Trade has both registered and non-registered account types. One can select between both RRSP and TFSA account types during the setup process. 

But Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade offers a modern mobile app available to download on IOS and Android. The smartphone app makes the signup phase and the trading of stocks and ETFs super simple.

Is Wealthsimple Trade Trustworthy?

Yes. Wealthsimple Trade is secure. Wealthsimple has more than 15 billion CAD in Assets Under Management . This company has been doing business for more than 7 years and also employs roughly 600 folks. The primary owner is the respected publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fee digital brokerage operating in Canada.

But How Do I Fund a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it so straight forward to fund an account. Just connect to a chequing or savings account to your Trade account, and fund your account in simply a couple of clicks. Deposits from banks to Wealthsimple normally take a few days. Funds can just as easily be moved back to a chequing or savings accounts through the same steps.

Which Additional Benefits and Products Are Available?

Wealthsimple Cash – This is equivalent to Interac E-transfers which allow one to quickly and efficiently send money to friends and family in Canada.

Wealthsimple Tax – Everything you require to prepare for this tax season and submit your taxes online free. It’s pitched as simple, accurate and always free income tax filing.

Wealthsimple Spend – A hybrid prepaid visa and savings account which allows one to earn 1% cashback on your spending, and also get a competitive 1.5% interest on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which includes a ton of courses on topics like saving, investing, crypto, mortgages and more. 

Every one of the mentioned features, along with Wealthsimple Trade can be accessed within the mobile app or at the site with a single login.

But How do I Begin Using Wealthsimple Trade?

Click here to create your Wealthsimple Trade account. As a special registration bonus for our readers you’ll receive the cash value of a random stock worth $25 up to $4,500 Canadian once you make an initial deposit to your account.

So What if I Still Have Additional Questions Concerning Wealthsimple Xeqt?

If this review didn’t answered each of your questions, and you’re looking for additional specific answers relating to Mutual Funds Wealthsimple Trade, visit the Wealthsimple website to find answers to each your questions.