Transfer From Personal To Tfsa Wealthsimple Trade: Complete Guide

What Exactly is Wealthsimple?

Wealthsimple is a simple to use Canadian web based investing, stocks and crypto trading web app that distinguishes itself from similar apps by charging no fees. 

A leading Canadian fintech company launched in the Fall 2014 exclusively as a robo advisor algorithmic automated trading app called Wealthsimple Invest, it has changed considerably over the last 8 years to also include Wealthsimple Trade, a zero fee discount brokerage platform.

Does Wealthsimple Trade Charge Fees?

Wealthsimple Trade lets Canadian investors to trade stand alone stocks and ETFs without having to pay any commissions. The exception to this is when you’re trading securities which are listed in USD currency. In that case, they will charge a nominal currency conversion fee both when buying and selling. However, gone are the days of having to pay more than $7 per each trade with digital discount brokerages as was normal just a couple years past.

Exactly How Much Cash Will I Need to Get Started on Wealthsimple Trade?

Wealthsimple is awesome such that they will allow Canadians to make a minimum deposit of only $1. The majority of traditional banks and discount brokerages have large minimum deposit amounts of $1,000-$5,000. This makes it impossible for the normal investor to get started. With Wealthsimple Trade, you don’t need to be wealthy to get started with trading stocks and ETFs.

So Does Wealthsimple Trade Offer Registered Accounts?

It does. Wealthsimple Trade has both CRA registered and non-registered account types. You are free to select both RRSP and TFSA accounts in the setup process. 

So Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade offers a easy to use mobile app available on both IOS and also Android. The mobile app makes the registration steps and trading of stocks and ETFs super painless.

But Is Wealthsimple Trade Legit?

Definitely. Wealthsimple Trade is secure. Wealthsimple boasts more than 15 billion Canadian of Assets Under Management (AUM). They have been in business for more than 7 years and at this time employs about 600 folks. The primary shareholder is the publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fees digital brokerage operating in Canada.

How Can I Fund a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it incredibly straight forward to add funds to a new account. Just connect a chequing or savings account with your Trade account, then fund your account in only a couple of steps. Deposits from banks to Wealthsimple typically take a couple of days. Funds can just as easily be withdrawn a chequing or savings accounts by using the exact same method.

What Other Features and Products Are Offered by Wealthsimple?

Wealthsimple Cash – An equivalent to Interac e-transfers that allows anyone to quickly and efficiently send money to friends and family in Canada.

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

Wealthsimple Spend – A combination prepaid debit card and savings account which lets you to get 1% cashback on all your purchases, and also get a very competitive 1.5% interest on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that offers a variety of different courses on saving, investing, crypto, home buying and much more. 

Each of the listed features, including Wealthsimple Trade can be accessed within the mobile app and from their website with one login.

So How Can I Get Started Using Wealthsimple Trade?

Click here to create a Wealthsimple Trade account. For an exclusive signup bonus to our audience you’ll get the cash value of a Canadian stock worth $25 up to $4,500 Canadian once you add funds to your account.

But What if I Still Have Additional Questions About Should I Use Wealthsimple?

If this article hasn’t given you the answers to each of your questions, and you’re searching for additional specific answers relating to Transfer From Personal To Tfsa Wealthsimple Trade, go to the Wealthsimple website to get answers to all your questions.