Wealthsimple Review 2022: How To Trade Options On Wealthsimple

What Exactly is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian digital Financial, securities and crypto trading platform that sets itself apart from the competition by charging absolutely no fees. 

A Toronto, Ontario based online financial services business launched in the Autumn of twenty fourteen exclusively as a robo-advisor automated trading platform called Wealthsimple Invest, it has changed significantly over the past 8 years to also include Wealthsimple Trade, a no fee discount brokerage service.

Does Wealthsimple Trade Charge Fees?

Wealthsimple Trade lets Canadian consumers trade both individual stocks and ETFs without paying commissions. The exception is when you’re trading securities which are listed in USD. In that case, they do charge a small currency conversion fee when buying and selling. But, past us are the days of paying more than $7 per each trade with discount brokerages as was the norm only a few years past.

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

Wealthsimple is special in that they will allow new customers to make a minimum deposit of just $1. Most alternative banks and discount brokerages have sizeable min deposit amounts of $1000-5k. This makes it tough for the normal investor to get started. With Wealthsimple Trade, one doesn’t need to already be wealthy to begin trading stocks and ETFs.

But Does Wealthsimple Trade Have Registered Accounts?

Yes. Wealthsimple Trade offers both registered and non-CRA-registered account types. One are able to choose between both RRSP and TFSA account types during the setup phase. 

So Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade has a easy to use mobile app available to download on Apple and Google Play. The app makes the enrollment process and also trading of stocks and ETFs painless.

Is Wealthsimple Trade Trustworthy?

Definitely. Wealthsimple Trade is trustworthy. Wealthsimple has in excess of 15 billion CAD in Assets Under Management (AUM). They have been doing business for more than 7 years and currently employs roughly 600 people. The main shareholder is the large publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fees digital brokerage operating in Canada.

So How Can I Fund a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it quite simple to add money to your account. Simply connect a chequing or savings account to your Trade account, and add funds to your account in only a few steps. Deposits from your bank to Wealthsimple normally take only a couple of days. Funds can just as easily be moved to your chequing or savings accounts through the exact same steps.

Which Additional Benefits and Products Are Offered by Wealthsimple?

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

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

Wealthsimple Spend – A hybrid prepaid debit card and savings account which allows one to earn 1% cashback on your spending, as well as get a very competitive 1.5% interest rate on savings.

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

Every one of the listed features, along with Wealthsimple Trade can be found in the mobile app and from the website with your Wealthsimple login.

How Should I Begin Using Wealthsimple Trade?

Click here to register for your Wealthsimple Trade account. For an exclusive signup bonus for our audience you will receive the cash value of a random Canadian stock valued at up to $4,500 Canadian once you make an initial deposit to your account.

But What if I Still Have Additional Questions Concerning How To Trade Options On Wealthsimple?

If this blog post hasn’t answered each of your questions, and you’re browsing for further specific info about How To Trade Options On Wealthsimple, go to the Wealthsimple site to get answers to all your questions.