Open Tfsa Wealthsimple Trade: Complete Guide

What Exactly is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian web based investing, stocks and crypto trading web app that sets itself apart from its competitors by charging absolutely no fees. 

A leading Canadian fintech business launched in Autumn of twenty fourteen originally as a robo-advisor algorithmic automated trading app named Wealthsimple Invest, it has improved significantly over the past eight years to feature Wealthsimple Trade, a no fees discount brokerage platform.

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade lets Canadian investors trade both stand alone stocks and ETFs without needing to pay fees. The exception to this is when trading stocks that are displayed in USD. In this case, they do charge a currency conversion fee both when buying and selling. However, behind us are the times of paying Upwards of $7 per each trade with discount brokerages as was common a few years ago.

How Much Money Will I Need in Order to Start on Wealthsimple Trade?

Wealthsimple is special such that they allow new customers to make a minimum deposit of only $1. Most traditional banks and discount brokerages have quite large initial deposit amounts of $1000-$5,000. This makes it tough for the common new investor to get started. With Wealthsimple Trade, you don’t have to already be wealthy to begin trading stocks and ETFs.

But Does Wealthsimple Trade Have Registered Accounts?

It does. Wealthsimple Trade offers registered and non-registered accounts. One are able to choose both RRSP and TFSA accounts in the setup phase. 

So Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade has a easy to use mobile app that is offered to download on iOS and Android. The app makes the enrollment steps and trading of stocks and ETFs truly painless.

So Is Wealthsimple Trade Safe?

. Wealthsimple Trade is legit. Wealthsimple has over 15 billion CAD of Assets Under Management (AUM). they’ve been in business for more than 7 years and right now employs roughly 600 folks. The controlling owner is the admired public Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fees digital brokerage to operate in Canada.

How Do I Fund a Wealthsimple Trade Account?

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

What Additional Benefits and Products Are Available?

Wealthsimple Cash – An alternative to e-Transfers that allows anyone to quickly and easily send cash to friends and family in Canada.

Wealthsimple Tax – Everything you need to get ready for tax season and file your tax return online free. It’s pitched as simple, accurate and always free income tax filing.

Wealthsimple Spend – A combination prepaid visa and savings product that allows one to recieve 1% cashback on your everyday purchases, and also get a competitive 1.5% interest rate on savings.

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

Each of the mentioned products, along with Wealthsimple Trade may be accessed on the mobile app and at the site with one login.

But How Should I Begin With Wealthsimple Trade?

Click here to setup your Wealthsimple Trade account. As an exclusive signup bonus for our audience you’ll receive the cash value of a Canadian stock valued at up to $4,500 Canadian once you make an initial deposit to your account.

What if I Still Have Questions About Wealthsimple Zfl?

If this article still hasn’t given you the answers to each of your questions, and you’re still looking for additional specific facts about Open Tfsa Wealthsimple Trade, go to the Wealthsimple website to get answers to each your questions.