Veqt Wealthsimple Trade: Complete Guide

What is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian online investing, stock plus crypto trading platform that distinguishes itself from the competition by charging no fees. 

A leading Canadian online financial services company launched in the Fall 2014 exclusively as a robo-advisor algorithmic trading app named Wealthsimple Invest, it has improved considerably over the past 8 years to include Wealthsimple Trade, a no fee discount brokerage app.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade lets investors to trade individual stocks and ETFs without needing to pay any fees. The exception is when trading stocks and ETFs which are listed in USD. In this case, they do charge a currency conversion fee both when buying and selling. However, gone are the times of having to pay Upwards of $7 for each trade with discount brokerages as was common a couple years past.

Exactly How Much Cash Will I Need to Have in Order to Start With Wealthsimple Trade?

Wealthsimple is special in that they will allow Canadians to make a minimum deposit of just $1. Many alternative banks and discount brokerages have large minimum deposit amounts of $1,000-5K. This makes it difficult for the normal new investor to start investing. With Wealthsimple Trade, you won’t have to already be wealthy to start trading stocks and ETFs.

Does Wealthsimple Trade Offer Registered Accounts?

Of course. Wealthsimple Trade offers CRA registered and non-registered account types. One can select between both RRSP and TFSA account types during the setup wizard. 

Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade has a modern mobile app available on both iOS and Google Play. The mobile app makes the registration phase and the trading of stocks and ETFs truly painless.

But Is Wealthsimple Trade Safe?

. Wealthsimple Trade is safe. Wealthsimple reports over 15 billion CAD of Assets Under Management . These folks have been expanding for more than 7 years and now employs about 600 Canadians. The primary shareholder is the admired public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the first no-fee digital discount brokerage to operate in Canada.

How Can I Add Money to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it quite straight forward to deposit to your account. Simply connect a chequing or savings account with your Trade account, and fund your account in only a few steps. Deposits from financial institutions to Wealthsimple normally take a few days. Funds can the same way can be withdrawn your chequing or savings accounts by the same steps.

Which Other Benefits and Products Does Wealthsimple Offer?

Wealthsimple Cash – An alternative to Interac E-Transfers that allows you to quickly and efficiently send money to friends and family in Canada.

Wealthsimple Tax – Everything you need to get ready for tax year and file your tax return online for free. It’s advertised as easy, accurate and always free tax return filing.

Wealthsimple Spend – A hybrid prepaid visa and savings account that allows you to earn 1% cashback on your purchases, as well as earn a competitive 1.5% interest on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which includes a bunch of online courses on topics like saving, investments, crypto, mortgages and more. 

All of the above products, along with Wealthsimple Trade can be found within the mobile app and on their site with your Wealthsimple login.

So How do I Begin Using Wealthsimple Trade?

Click here to setup a Wealthsimple Trade account. As an exclusive registration bonus to our readers you’ll get the cash value of a random Canadian stock worth up to $4,500 Canadian once you deposit to your account.

What if I Still Have Questions Concerning Wealthsimple Parent Company?

If this blog post still hasn’t given you the answers to each of your questions, and you’re searching for additional info relating to Veqt Wealthsimple Trade, go to the Wealthsimple site for answers to each your questions.