Using Wealthsimple Trade Reddit: Complete Guide

What Exactly is Wealthsimple?

Wealthsimple is a simple to use Canadian online Financial, securities plus crypto trading app that distinguishes itself from similar apps by charging no fees. 

A leading Canadian fintech business founded in the Fall twenty fourteen originally as a robo advisor algorithmic trading app named Wealthsimple Invest, it has improved significantly over the previous eight years to also include Wealthsimple Trade, a no fee discount brokerage app.

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade lets Canadian consumers trade stand alone stocks and ETFs without paying commissions. The exception is when you’re trading stocks which are denominated in USD. In this case, they will charge a nominal currency conversion fee when buying and selling. However, past us are the times of paying Upwards of $7 per each trade with digital discount brokerages as was the case a couple years past.

Exactly How Much Money Will I Need in Order to Start Investing With Wealthsimple Trade?

Wealthsimple is awesome in that they allow investors to make a minimum deposit of just $1. Many alternative banks and discount brokerages have sizeable initial deposit amounts of 1k-$5000. This makes it tough for the everyday investor to start. With Wealthsimple Trade, one doesn’t have to already be wealthy to get started with trading stocks and ETFs.

But Does Wealthsimple Trade Have RRSP Accounts?

It does. Wealthsimple Trade has available registered and non-registered account types. You can choose both RRSP and TFSA account types during the setup phase. 

But Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade has a well designed mobile app that is offered to download on iOS and also Android. The app makes the registration process and trading of stocks and ETFs super simple.

Is Wealthsimple Trade Trustworthy?

Of course. Wealthsimple Trade is safe. Wealthsimple has more than 15 billion CAD of Assets Under Management . These folks have been doing business for more than 7 years and also now employs about 600 Canadians. The majority owner is the public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital brokerage operating in Canada.

So How Does One Fund a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it quite simple to add funds to your new account. Simply connect a chequing or savings account with your Trade account, and add funds to your account in only a few clicks. Deposits from your bank to Wealthsimple usually take a few days. Funds can the same way can be moved back to your chequing or savings account by the exact same method.

Which Other Features and Products Are Offered by Wealthsimple?

Wealthsimple Cash – This is equivalent to E-Transfers which allow anyone to quickly and simply transfer money to friends and family in Canada.

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

Wealthsimple Spend – A hybrid prepaid visa and savings product that allows you to recieve 1% cashback on your spending, and also earn a very competitive 1.5% interest on savings.

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

Every one of the mentioned products, including Wealthsimple Trade can be accessed in the mobile app or at their website with a single login.

So How Should I Start With Wealthsimple Trade?

Click here to register for a new Wealthsimple Trade account. For a special signup bonus offer for our audience you will get the cash value of a Canadian stock worth up to $4,500 CAD as soon as you make an initial deposit to your account.

So What if I Still Have Questions About Wealthsimple Trade $50 Bonus?

If this blog post still hasn’t answered each of your questions, and you’re still browsing for further specific facts relating to Using Wealthsimple Trade Reddit, visit the Wealthsimple website to find answers to each your questions.