Wealthsimple Review 2022: Wealthsimple Day Trading

What is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian web based Financial, securities plus crypto trading platform that differentiates itself from the competition by charging no fees. 

A fintech company founded in the Fall twenty fourteen originally as a robo advisor trading app named Wealthsimple Invest, it has evolved significantly over the last 8 years to also feature Wealthsimple Trade, a zero fees discount brokerage platform.

Does Wealthsimple Trade Charge Its Users Fees?

Wealthsimple Trade allows consumers to trade both single stocks and ETFs without having to pay commissions. The exception is when you’re trading stocks that are displayed in USD. In this case, they do charge a currency conversion fee both when buying and selling. However, gone are the days of paying $7-12 per trade with discount brokerages as was the norm a couple years past.

Exactly How Much in Funds do I Need to Have to Start on Wealthsimple Trade?

Wealthsimple is unique in that they allow Canadians to make a minimum deposit of only $1. Many traditional banks and brokerages have large minimum deposit amounts of $1000-$5000. This makes it tough for the common investor to start investing. With Wealthsimple Trade, one doesn’t have to be wealthy to start trading stocks and ETFs.

Does Wealthsimple Trade Have RRSP Accounts?

It does. Wealthsimple Trade offers CRA registered and non-CRA-registered accounts. One can select both RRSP and TFSA accounts during the setup process. 

But Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade has a modern mobile app that is available to download on both iOS and Google Play. The app makes the registration steps and the trading of stocks and ETFs painless.

But Is Wealthsimple Trade Trustworthy?

. Wealthsimple Trade is legit. Wealthsimple boasts in excess of 15 billion Canadian in Assets Under Management . This company has been expanding for more than 7 years and right now employs more than 600 people. The controlling shareholder is the large publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade is the first no-fee digital discount brokerage operating in Canada.

How Can I Add Money to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it quite easy to deposit to your new account. Just connect the app to a chequing or savings account with your Trade account, and add money to your account in only a couple of clicks. Deposits from financial institutions to Wealthsimple normally take only a few days. Funds can also be moved to your chequing or savings account by using the exact same steps.

Which Additional Features and Products Does Wealthsimple Offer?

Wealthsimple Cash – An equivalent to E-transfers that allows one to quickly and simply send money to friends and family in Canada.

Wealthsimple Tax – Everything you’ll require to prepare for this tax season and file your tax return online free. It’s described to be easy, accurate and always free tax return filing.

Wealthsimple Spend – A combination prepaid visa and savings product that lets one to get 1% cashback on your purchases, as well as get a very competitive 1.5% interest on savings.

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

All of the above features, along with Wealthsimple Trade may be accessed in the app and from their website with a single login.

But How Can I Begin Using Wealthsimple Trade?

Click here to signup for a Wealthsimple Trade account. As a special registration bonus offer to our audience you’ll get the equivalent cash value of a random share worth $25 up to $4,500 CAD once you add funds to your account.

So What if I Still Have Questions Concerning Wealthsimple Day Trading?

If this article didn’t given you the answers to all of your questions, and you’re searching for more info relating to Wealthsimple Day Trading, go to the Wealthsimple website to find answers to all your questions.