Redflagdeals Wealthsimple Trade: Complete Guide

What is Wealthsimple?

Wealthsimple is an easy to use Canadian web based Financial, stock and crypto trading web app that differentiates itself from its competitors by charging no fees. 

A leading Canadian online financial services business founded in Autumn twenty fourteen exclusively as a robo-advisor automated trading app called Wealthsimple Invest, it has evolved substantially over the last 8 years to include Wealthsimple Trade, a no fees discount brokerage app.

Does Wealthsimple Trade Charge Fees?

Wealthsimple Trade allows investors to trade individual stocks and ETFs without paying commissions. The exception to this is when you’re trading stocks which are denominated in US Dollars. In which case, they will charge a small currency conversion fee both when buying and selling. But, past us are the times of having to pay more than $7 per each trade with digital discount brokerages as was the case a few years past.

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

Wealthsimple is cool in that they will allow Canadian investors to make a minimum deposit of just $1. The majority of traditional banks and discount brokerages have large minimum deposit amounts of 1K-$5000. This makes it impossible for the typical new investor to get started. With Wealthsimple Trade, you don’t have to already be wealthy to start trading stocks and ETFs.

So Does Wealthsimple Trade Have TFSA Accounts?

It does. Wealthsimple Trade offers both registered and non-registered accounts. You are free to choose between both RRSP and TFSA accounts in the setup process. 

But Does Wealthsimple Trade Have a Mobile Application?

Yes, Wealthsimple Trade offers a modern mobile app that is available to download on both IOS and Android. The smartphone app makes the enrollment process and trading of stocks and ETFs super simple.

But Is Wealthsimple Trade Safe?

Yes. Wealthsimple Trade is secure. Wealthsimple reports in excess of 15 billion CAD in Assets Under Management (AUM). This company has been in business for more than 7 years and at this time employs more than 600 Canadians. The main owner is the admired publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fee online brokerage to operate in Canada.

How Does One Add Funds to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it straight forward to deposit to your new account. Simply 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 your bank to Wealthsimple usually take a couple of days. Funds can just as easily be moved to your chequing or savings accounts through the exact same method.

What Other Benefits and Products Are Offered by Wealthsimple?

Wealthsimple Cash – An equivalent to E-transfers that allows one to quickly and easily transfer cash to friends and family in Canada.

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

Wealthsimple Spend – A combination pre paid debit card and savings product which lets you to earn 1% cashback on all your purchases, as well as get a very competitive 1.5% interest on savings.

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

All of the above products, along with Wealthsimple Trade can be accessed inside the mobile app and at their site with your Wealthsimple login.

How Can I Start With Wealthsimple Trade?

Click here to signup for a new Wealthsimple Trade account. As an exclusive registration bonus offer for our readers you’ll get the cash value of a random Canadian 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 About Wealthsimple 250 Instant Deposit?

If this review hasn’t answered all of your questions, and you’re still looking for additional information relating to Redflagdeals Wealthsimple Trade, visit the Wealthsimple site for answers to all your questions.