Wealthsimple Trade 2 Free Stocks: Complete Guide

What Exactly is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian web based Financial, stocks and crypto trading web app that differentiates itself from similar apps by charging absolutely no fees. 

A Toronto, Ontario based online financial services business launched in Fall twenty fourteen originally as a robo advisor algorithmic automated trading platform named Wealthsimple Invest, it has evolved considerably over the previous 8 years to feature Wealthsimple Trade, a no fees discount brokerage service.

Does Wealthsimple Trade Charge Its Users Fees?

Wealthsimple Trade lets Canadian consumers to trade both single stocks and also ETFs without needing to pay any fees. The exception is when trading securities that are denominated in USD currency. In this case, they do charge a small currency conversion fee both when buying and selling. However, past us are the days of having to pay Upwards of $7 per trade with online discount brokerages as was normal only a couple years ago.

How Much in Funds Will I Need to Start With Wealthsimple Trade?

Wealthsimple is cool in that they will allow Canadian investors to make a minimum deposit of just $1. Most alternative banks and brokerages have large min deposit amounts of 1K-5k. This makes it difficult for the typical investor to start investing. With Wealthsimple Trade, one doesn’t have to be wealthy to start trading stocks and ETFs.

But Does Wealthsimple Trade Have RRSP Accounts?

Of course. Wealthsimple Trade has available registered and non-registered account types. One can select both RRSP and TFSA account types during the setup phase. 

Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade offers a easy to use mobile app offered on IOS and also Android. The app makes the registration process and also the trading of stocks and ETFs very painless.

But Is Wealthsimple Trade Safe?

Definitely. Wealthsimple Trade is legit. Wealthsimple boasts more than 15 billion Canadian in Assets Under Management (AUM). they’ve been expanding for more than 7 years and currently employs roughly 600 folks. The controlling shareholder is the admired public Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fees digital brokerage to operate in Canada.

How Can I Add Money to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it easy to deposit to an account. Simply connect to a chequing or savings account to your Trade account, then add funds to your account in just a couple of steps. Deposits from financial institutions to Wealthsimple normally take just a couple of days. Funds can just as easily be withdrawn a chequing or savings account by the same process.

What Additional Benefits and Products Are Offered by Wealthsimple?

Wealthsimple Cash – An equivalent to e-transfers which allows anyone to quickly and simply transfer cash to friends and family in Canada.

Wealthsimple Tax – Everything you need to get ready for tax season and submit your tax return online free. It’s described as easy, accurate and always totally free income tax filing.

Wealthsimple Spend – A hybrid pre paid visa and savings product that lets one to get 1% cashback on all your spending, and also earn a competitive 1.5% interest rate on savings.

Personal Finance 101 – Wealthsimple’s free personal finance education platform which includes a variety of courses on saving, investments, crypto, mortgages and much more. 

All of the above features, along with Wealthsimple Trade may be found in the app or at the site with one login.

How do I Start With Wealthsimple Trade?

Click here to register for a Wealthsimple Trade account. As an exclusive registration bonus offer for our readers you will get the cash value of a share worth up to $4,500 CAD when you deposit to your account.

What if I Still Have Additional Questions Concerning My Wealthsimple Tax?

If this blog post hasn’t given you the answers to each of your questions, and you’re looking for further info relating to Wealthsimple Trade 2 Free Stocks, visit the Wealthsimple website to get answers to all your questions.