Reddit Wealthsimple Trade Canada: Complete Guide

What is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian web based Financial, stock and crypto trading app that distinguishes itself from other apps by charging no fees. 

A Toronto, Ontario based online financial services company founded in the Autumn of twenty fourteen exclusively as a robo-advisor algorithmic automated trading platform named Wealthsimple Invest, it has grown substantially over the past 8 years to also include Wealthsimple Trade, a no fee discount brokerage app.

Does Wealthsimple Trade Charge Any Fees?

Wealthsimple Trade lets Canadian investors trade both stand alone stocks and also ETFs without paying fees. The exception to this is when trading ETFs and stocks which are denominated in USD currency. In which case, they will charge a nominal currency conversion fee both when buying and selling. But, past us are the days of having to pay Upwards of $7 per each trade with digital discount brokerages as was common just a couple years past.

How Much Cash do I Need to Have to Start With Wealthsimple Trade?

Wealthsimple is unique such that they will allow Canadian investors to make a minimum deposit of just $1. Many traditional banks and brokerages have large minimum deposit amounts of $1000-$5,000. This makes it tough for the every day new investor to start investing. With Wealthsimple Trade, you won’t need to already be wealthy to begin trading stocks and ETFs.

Does Wealthsimple Trade Have TFSA Accounts?

Of course. Wealthsimple Trade has available both CRA registered and non-CRA-registered account types. One may select between both RRSP and TFSA accounts during the setup wizard. 

Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade has a well designed mobile app that is available to download on both iOS and Android. The smartphone app makes the signup process and the trading of stocks and ETFs painless.

Is Wealthsimple Trade Legit?

Of course. Wealthsimple Trade is legit. Wealthsimple boasts more than 15 billion Canadian in Assets Under Management . This company has been operating for more than 7 years and now employs over 600 folks. The controlling shareholder is the admired public Canadian entity Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital brokerage operating in Canada.

But How Can I Add Money to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it very straight forward to deposit to your account. Just connect to a chequing or savings account to your Trade account, then add money to your account in just a couple of clicks. Deposits from financial institutions to Wealthsimple typically take just a couple of days. Funds can also be moved back to your chequing or savings account using the same method.

What Additional Features and Products Are Offered by Wealthsimple?

Wealthsimple Cash – This is alternative to Interac e-Transfers that allows one to quickly and simply transfer cash to friends and family in Canada.

Wealthsimple Tax – Everything you need to prepare for this tax season and submit your taxes online for free. It’s pitched to be easy, accurate and always totally free tax return filing.

Wealthsimple Spend – A combination prepaid visa and savings product which lets you to recieve 1% cashback on your purchases, as well as earn a competitive 1.5% interest rate on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance platform which offers a ton of courses on saving, investments, crypto, mortgages and much more. 

Every one of the listed products, along with Wealthsimple Trade may be found on the mobile app and from their website with your Wealthsimple login.

But How Can I Begin With Wealthsimple Trade?

Click here to setup a Wealthsimple Trade account. As an exclusive registration bonus offer to our readers you’ll get the equivalent cash value of a random stock worth up to $4,500 Canadian as soon as you add funds to your account.

What if I Still Have Additional Questions Concerning Wealthsimple 2 Free Stocks?

If this review still hasn’t answered all of your questions, and you’re browsing for additional specific facts about Reddit Wealthsimple Trade Canada, visit the Wealthsimple website to get answers to each your questions.