Transfer Wealthsimple Trade To Questrade: Complete Guide

What is Wealthsimple?

Wealthsimple is an easy to use Canadian digital Financial, stock and crypto trading app that differentiates itself from similar apps by charging absolutely no fees. 

A Toronto, Ontario based online financial services company founded in the Fall of 2014 exclusively as a robo advisor trading app named Wealthsimple Invest, it has improved considerably over the previous 8 years to feature Wealthsimple Trade, a zero fees discount brokerage service.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade allows Canadian consumers to trade both individual stocks and also ETFs without paying commissions. The exception is when trading stocks which are listed in USD. In which case, they will charge a small currency conversion fee both when buying and selling. However, behind us are the days of paying more than $7 for each trade with online discount brokerages as was common just a couple years ago.

Exactly How Much Money do I Need to Start on Wealthsimple Trade?

Wealthsimple is unique in that they will allow new customers to make a minimum deposit of just $1. Most traditional banks and brokerages have sizeable initial deposit amounts of 1K-$5,000. This makes it difficult for the every day new investor to start investing. With Wealthsimple Trade, one doesn’t have to be wealthy to begin trading stocks and ETFs.

Does Wealthsimple Trade Have Registered Accounts?

They do. Wealthsimple Trade has both CRA registered and non-CRA-registered accounts. You are free to select between both RRSP and TFSA accounts during the setup phase. 

But Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade offers a modern mobile app that is offered to download on both Apple and also Android. The mobile app makes the enrollment steps and also trading of stocks and ETFs truly easy.

But Is Wealthsimple Trade Safe?

Definitely. Wealthsimple Trade is secure. Wealthsimple reports more than 15 billion Canadian of Assets Under Management . This company has been doing business for more than 7 years and right now employs more than 600 Canadians. The controlling owner is the large publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade is the first no-fee digital discount brokerage operating in Canada.

So How Do I Fund a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it incredibly straight forward to add funds to an account. Just connect to a chequing or savings account to your Trade account, and fund your account in simply a few steps. Deposits from financial institutions to Wealthsimple normally take only a few days. Funds can the same way can be moved back to a chequing or savings accounts by using the same process.

Which Additional Benefits and Products Are Available?

Wealthsimple Cash – This is alternative to Interac e-Transfers that allow you to quickly and easily send money to friends and family in Canada.

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

Wealthsimple Spend – A hybrid pre paid visa and savings product that lets one to get 1% cashback on all your everyday purchases, as well as get a very competitive 1.5% interest rate on savings.

Personal Finance 101 – Wealthsimple’s free personal finance education platform which includes a bunch of different courses on different topics such as saving, investing, crypto, mortgages and more. 

Each of the above products, along with Wealthsimple Trade can be accessed inside the app or on the website with your Wealthsimple login.

So How Should I Get Started With Wealthsimple Trade?

Click here to register for a Wealthsimple Trade account. As an exclusive registration bonus offer for our audience you’ll get the cash value of a Canadian stock valued at up to $4,500 CAD once you add funds to your account.

So What if I Still Have Questions Related to Wealthsimple 5 Day Hold?

If this blog post still hasn’t answered each of your questions, and you’re still searching for additional specific answers relating to Transfer Wealthsimple Trade To Questrade, visit the Wealthsimple site to find answers to each your questions.