Wealthsimple Trade 800: Complete Guide

What Exactly is Wealthsimple?

Wealthsimple is a simple to use Canadian web based Financial, stock plus crypto trading app that differentiates itself from its competitors by charging absolutely no fees. 

A fintech company launched in Autumn of twenty fourteen exclusively as a robo advisor algorithmic automated trading app called Wealthsimple Invest, it has evolved considerably over the previous 8 years to also include Wealthsimple Trade, a zero fee discount brokerage service.

Does Wealthsimple Trade Charge Fees?

Wealthsimple Trade allows consumers to trade both single stocks and ETFs without having to pay fees. The exception to this is when you’re trading ETFs and stocks that are listed in USD. In that case, they do charge a nominal currency conversion fee when buying and selling. But, past us are the times of paying more than $7 per each trade with discount brokerages as was common only a few years past.

Exactly How Much in Funds Will I Need in Order to Start Investing on Wealthsimple Trade?

Wealthsimple is special such that they allow Canadian investors to make a minimum deposit of only $1. The majority of alternative banks and brokerages have large initial deposit amounts of 1k-5k. This makes it tough for the everyday new investor to get started. With Wealthsimple Trade, you don’t have to be wealthy to begin trading stocks and ETFs.

But Does Wealthsimple Trade Have Registered Accounts?

Of course. Wealthsimple Trade has registered and non-CRA-registered account types. You are able to select between both RRSP and TFSA accounts during the setup wizard. 

So Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade has a well designed mobile app that is offered on both IOS and Google Play. The mobile app makes the enrollment process and trading of stocks and ETFs truly easy.

But Is Wealthsimple Trade Secure?

For sure. Wealthsimple Trade is secure. Wealthsimple reports in excess of 15 billion Canadian in Assets Under Management (AUM). This company has been expanding for more than 7 years and employs about 600 people. The main owner is the admired public Canadian company Power Corp of Canada. Weapthsimple Trade was the first no-fees online discount brokerage operating in Canada.

So How Does One Fund a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it very straight forward to add money to a new account. Just connect the app to a chequing or savings account to your Trade account, and then add funds to your account in simply a couple of clicks. Deposits from your bank to Wealthsimple usually take only a couple of days. Funds can also be withdrawn a chequing or savings accounts through the exact same process.

What Other Features and Products Are Available?

Wealthsimple Cash – An equivalent to E-Transfers that allows anyone to quickly and easily send money to friends and family in Canada.

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

Wealthsimple Spend – A hybrid prepaid debit card and savings account that allows you to get 1% cashback on your purchases, and also get a competitive 1.5% interest on savings.

Personal Finance 101 – Wealthsimple’s free personal finance learning platform which includes a ton of different courses on different topics such as saving, investing, crypto, mortgages and more. 

All of the listed features, including Wealthsimple Trade can be accessed within the mobile app and from the website with one login.

But How Can I Start With Wealthsimple Trade?

Click here to signup for your Wealthsimple Trade account. As an exclusive registration bonus offer for our audience you will receive the cash value of a random share worth up to $4,500 Canadian as soon as you make an initial deposit to your account.

So What if I Still Have Questions Related to Norbert’s Gambit Wealthsimple?

If this article didn’t given you the answers to all of your questions, and you’re still searching for more specific answers relating to Wealthsimple Trade 800, go to the Wealthsimple website to find answers to all your questions.