Options Wealthsimple Trade: Complete Guide

What Exactly is Wealthsimple?

Wealthsimple is a simple to use Canadian digital Financial, stock and crypto trading app that differentiates itself from other apps by charging no fees. 

A Toronto, Ontario based fintech business founded in the Autumn twenty fourteen exclusively as a robo advisor algorithmic automated trading platform named Wealthsimple Invest, it has changed substantially over the past 8 years to also include Wealthsimple Trade, a zero fee discount brokerage platform.

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade lets investors trade single stocks and also ETFs without needing to pay fees. The exception is when trading stocks and ETFs that are listed in US Dollars. In that case, they do charge a currency conversion fee when buying and selling. However, past us are the days of paying more than $7 per trade with digital discount brokerages as was the norm only a couple years ago.

How Much in Funds Will I Need to Start Investing on Wealthsimple Trade?

Wealthsimple is cool such that they will allow Canadian investors to make a minimum deposit of only $1. Most alternative banks and brokerages have large min deposit amounts of $1,000-5k. This makes it tough for the typical investor to get started. With Wealthsimple Trade, you won’t have to be wealthy to get started with trading stocks and ETFs.

Does Wealthsimple Trade Have Registered Accounts?

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

But Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade offers a modern mobile app offered to download on IOS and Android. The mobile app makes the enrollment steps and the trading of stocks and ETFs incredibly simple.

But Is Wealthsimple Trade Safe?

Most definitely. Wealthsimple Trade is secure. Wealthsimple has over 15 billion Canadian of Assets Under Management (AUM). they’ve been in business for more than 7 years and also currently employs roughly 600 people. The primary owner is the admired public Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital discount brokerage operating in Canada.

How Do I Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it incredibly simple to add money to a new account. Simply connect to a chequing or savings account with your Trade account, and add funds to your account in just a couple of steps. Deposits from your bank to Wealthsimple normally take a few days. Funds can also be moved back to your chequing or savings accounts through the same method.

What Other Benefits and Products Are Available?

Wealthsimple Cash – An equivalent to Interac E-Transfers that allow anyone to quickly and efficiently transfer cash to friends and family in Canada.

Wealthsimple Tax – Everything you need to get ready for this tax season and file your taxes online free. It’s advertised as easy, accurate and always free tax return filing.

Wealthsimple Spend – A combination prepaid visa and savings product that lets one to earn 1% cashback on your everyday spending, and also earn a competitive 1.5% interest rate on savings.

Personal Finance 101 – Wealthsimple’s free personal finance learning platform that offers a bunch of online courses on topics like saving, investing, crypto, mortgages and much more. 

Every one of the mentioned features, along with Wealthsimple Trade may be found on the mobile app or at the site with a single login.

How Should I Start With Wealthsimple Trade?

Click here to create your Wealthsimple Trade account. For an exclusive registration bonus for our audience you’ll get the cash value of a stock worth up to $4,500 CAD when you fund your account.

What if I Still Have Questions About Wealthsimple Zero Commission?

If this blog post hasn’t answered each of your questions, and you’re looking for more specific facts relating to Options Wealthsimple Trade, go to the Wealthsimple website for answers to all your questions.