S&p 500 Wealthsimple Trade: Complete Guide

What is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian online Financial, securities and crypto trading platform that differentiates itself from other apps by charging absolutely no fees. 

A leading Canadian online financial services business launched in Autumn of 2014 exclusively as a robo advisor automated trading app called Wealthsimple Invest, it has changed substantially over the last 8 years to also feature Wealthsimple Trade, a no fees discount brokerage app.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade lets Canadian consumers to trade single stocks and ETFs without needing to pay any commissions. The exception to this is when you’re trading stocks that are displayed in US Dollars. In that case, they charge a nominal currency conversion fee both when buying and selling. However, gone are the times of having to pay more than $7 for each trade with digital discount brokerages as was common only a couple years ago.

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

Wealthsimple is special in that they allow new customers to make a minimum deposit of just $1. Many traditional banks and discount brokerages have sizeable min deposit amounts of 1K-$5000. This makes it impossible for the every day investor to start. With Wealthsimple Trade, one doesn’t have to be wealthy to start trading stocks and ETFs.

So Does Wealthsimple Trade Offer TFSA Accounts?

It does. Wealthsimple Trade has available both CRA registered and non-registered accounts. One are able to select both RRSP and TFSA accounts during the setup process. 

So Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade offers a modern mobile app that is available to download on both iOS and also Android. The smartphone app makes the registration steps and also trading of stocks and ETFs super easy.

But Is Wealthsimple Trade Trustworthy?

Yes. Wealthsimple Trade is legit. Wealthsimple reports in excess of 15 billion Canadian in Assets Under Management . They have been expanding for more than 7 years and also employs over 600 folks. The controlling shareholder is the admired public Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fee digital discount brokerage operating in Canada.

But How Does One Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it incredibly straight forward to add funds to a new account. Simply connect to a chequing or savings account with your Trade account, then add funds to your account in simply a few steps. Deposits from financial institutions to Wealthsimple normally take just a couple of days. Funds can the same way can be moved back to a chequing or savings accounts with the same method.

Which Additional Features and Products Are Offered by Wealthsimple?

Wealthsimple Cash – An alternative to e-transfers that allow you to quickly and efficiently transfer cash to friends and family in Canada.

Wealthsimple Tax – Everything you’ll need to get ready for this tax season and submit your tax return online for free. It’s advertised to be simple, accurate and always free income tax filing.

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

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

Each of the mentioned features, including Wealthsimple Trade can be accessed within the mobile app and at the site with your Wealthsimple login.

How Should I Begin Using Wealthsimple Trade?

Click here to signup for a new Wealthsimple Trade account. For a special signup bonus for our readers you will get the cash value of a random Canadian stock worth up to $4,500 Canadian as soon as you deposit to your account.

What if I Still Have Additional Questions Concerning Wealthsimple 50 30 20?

If this article still hasn’t answered all of your questions, and you’re looking for more specific answers relating to S&p 500 Wealthsimple Trade, visit the Wealthsimple site to find answers to each your questions.