Wealthsimple Trade And Mint: Complete Guide

What is Wealthsimple?

Wealthsimple is a simple to use Canadian web based investing, stocks and crypto trading web app that distinguishes itself from the competition by charging absolutely no fees. 

A leading Canadian fintech company founded in the Fall of twenty fourteen exclusively as a robo-advisor trading platform called Wealthsimple Invest, it has changed substantially over the past eight years to also include Wealthsimple Trade, a zero fees discount brokerage app.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade allows Canadian investors to trade single stocks and also ETFs without having to pay any fees. The exception is when trading ETFs and stocks which are displayed in USD currency. In this case, they do charge a nominal currency conversion fee when buying and selling. However, past us are the days of having to pay Upwards of $7 per each trade with online discount brokerages as was common just a couple years ago.

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

Wealthsimple is unique such that they allow investors to make a minimum deposit of just $1. The majority of alternative banks and discount brokerages have large min deposit amounts of $1,000-5K. This makes it difficult for the every day new investor to start. With Wealthsimple Trade, you don’t need to be wealthy to get started with trading stocks and ETFs.

But Does Wealthsimple Trade Offer Registered Accounts?

Yes. Wealthsimple Trade has available both CRA registered and non-CRA-registered account types. You are free to choose both RRSP and TFSA account types during the setup phase. 

Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade has a easy to use mobile app that is offered to download on Apple and Android. The smartphone app makes the signup steps and trading of stocks and ETFs truly simple.

But Is Wealthsimple Trade Safe?

Most definitely. Wealthsimple Trade is legit. Wealthsimple has in excess of 15 billion Canadian of Assets Under Management . They have been expanding for more than 7 years and right now employs more than 600 folks. The main owner is the respected publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fee online brokerage operating in Canada.

But How Can I Add Funds to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it quite straight forward to add funds to an account. Simply connect to a chequing or savings account to your Trade account, then fund your account in simply a few steps. Deposits from banks to Wealthsimple typically take a few days. Funds can also be withdrawn your chequing or savings accounts using the same process.

Which Additional Features and Products Does Wealthsimple Offer?

Wealthsimple Cash – This is alternative to Interac e-Transfers which allows anyone to quickly and simply send cash to friends and family in Canada.

Wealthsimple Tax – Everything you’ll need to get ready for this tax season and submit your taxes online for free. It’s pitched to be easy, accurate and always free income tax filing.

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

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

Each of the listed products, including Wealthsimple Trade can be found on the app and from their website with your Wealthsimple login.

But How Should I Begin With Wealthsimple Trade?

Click here to setup a Wealthsimple Trade account. For a special registration bonus offer for our audience you will receive the cash value of a random stock worth up to $4,500 Canadian once you fund your account.

But What if I Still Have Questions Concerning Wealthsimple Joint Investment Account?

If this review hasn’t answered each of your questions, and you’re looking for further facts relating to Wealthsimple Trade And Mint, visit the Wealthsimple website for answers to each your questions.