Transfer Tfsa To Wealthsimple Trade: Complete Guide

What Exactly is Wealthsimple?

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

A Toronto, Ontario based online financial services company founded in the Fall 2014 originally as a robo advisor algorithmic automated trading platform called Wealthsimple Invest, it has grown substantially over the previous eight years to also feature Wealthsimple Trade, a no fees discount brokerage service.

Does Wealthsimple Trade Charge Any Fees?

Wealthsimple Trade allows Canadian investors to trade stand alone stocks and also ETFs without having to pay any commissions. The exception to this is when trading stocks and ETFs which are listed in USD currency. In that case, they do charge a small currency conversion fee when buying and selling. But, gone are the days of paying $7-12 per each trade with discount brokerages as was common just a couple years ago.

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

Wealthsimple is awesome in that they will allow investors to make a minimum deposit of just $1. Most traditional banks and brokerages have large initial deposit amounts of 1K-5k. This makes it difficult for the everyday new investor to get started. With Wealthsimple Trade, one doesn’t have to already be wealthy to get started with trading stocks and ETFs.

So Does Wealthsimple Trade Offer RRSP Accounts?

Yes. Wealthsimple Trade has both CRA registered and non-registered account types. You can choose between both RRSP and TFSA account types during the setup wizard. 

So Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade offers a modern mobile app offered on both Apple and also Google Play. The app makes the registration steps and the trading of stocks and ETFs incredibly easy.

But Is Wealthsimple Trade Legit?

Definitely. Wealthsimple Trade is trustworthy. Wealthsimple reports more than 15 billion Canadian of Assets Under Management . they’ve been operating for more than 7 years and also currently employs about 600 people. The main owner is the large publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the very first no-fee online brokerage operating in Canada.

How Does One Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it incredibly simple to deposit to your new account. Simply connect to a chequing or savings account to your Trade account, and fund your account in just a couple of clicks. Deposits from banks to Wealthsimple normally take a couple of days. Funds can also be moved to your chequing or savings accounts by the exact same method.

Which Additional Benefits and Products Does Wealthsimple Offer?

Wealthsimple Cash – This is equivalent to E-transfers that allows anyone to quickly and efficiently send cash to friends and family in Canada.

Wealthsimple Tax – Everything you’ll need to get ready for tax season and file your taxes online free. It’s described as simple, accurate and always totally free income tax filing.

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

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

All of the listed features, including Wealthsimple Trade may be accessed inside the mobile app or from their site with a single login.

How do I Begin Using Wealthsimple Trade?

Click here to register for a new Wealthsimple Trade account. For an exclusive registration bonus offer to our readers you will receive the equivalent cash value of a stock worth $25 up to $4,500 CAD as soon as you deposit to your account.

What if I Still Have Additional Questions About $40 Crypto Wealthsimple?

If this blog post still hasn’t given you the answers to each of your questions, and you’re browsing for further info about Transfer Tfsa To Wealthsimple Trade, check out the Wealthsimple site to get answers to each your questions.