Wealthsimple Trade Buy Stocks: Complete Guide

What Exactly is Wealthsimple?

Wealthsimple is an easy to use Canadian online investing, stocks plus crypto trading app that distinguishes itself from other apps by charging absolutely no fees. 

A online financial services business launched in Autumn of 2014 originally as a robo-advisor algorithmic automated trading platform called Wealthsimple Invest, it has evolved significantly over the past eight years to feature Wealthsimple Trade, a no fee discount brokerage platform.

Does Wealthsimple Trade Charge Any Fees?

Wealthsimple Trade lets investors to trade both stand alone stocks and ETFs without having to pay fees. The exception to this is when trading ETFs and stocks that are denominated in USD. In this case, they do charge a small currency conversion fee when buying and selling. But, behind us are the times of paying $7-12 per trade with online discount brokerages as was the norm just a few years past.

Exactly How Much Cash do I Need to Have to Begin Investing on Wealthsimple Trade?

Wealthsimple is unique in that they will allow new customers to make a minimum deposit of only $1. The majority of traditional banks and brokerages have quite large initial deposit amounts of 1k-$5,000. This makes it hard for the everyday investor to get started. With Wealthsimple Trade, you won’t need to be wealthy to get started with trading stocks and ETFs.

Does Wealthsimple Trade Have RRSP Accounts?

It does. Wealthsimple Trade offers registered and non-CRA-registered account types. One are free to choose both RRSP and TFSA account types during the setup process. 

So Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade has a modern mobile app offered on both iOS and Google Play. The smartphone app makes the enrollment steps and also the trading of stocks and ETFs incredibly a breeze.

So Is Wealthsimple Trade Secure?

Definitely. Wealthsimple Trade is secure. Wealthsimple boasts in excess of 15 billion Canadian of Assets Under Management . they’ve been operating for more than 7 years and also at this time employs more than 600 people. The primary shareholder is the large public Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fees online discount brokerage to operate in Canada.

So How Do I Add Money to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it quite straight forward to add money to your new account. Just connect a chequing or savings account with your Trade account, then add funds to your account in only a couple of clicks. Deposits from your bank to Wealthsimple normally take a few days. Funds can just as easily be withdrawn your chequing or savings accounts with the same process.

Which Other Features and Products Does Wealthsimple Offer?

Wealthsimple Cash – This is alternative to Interac E-transfers which allows you to quickly and easily send money to friends and family in Canada.

Wealthsimple Tax – Everything you require to get ready for tax season and file your tax return online for free. It’s advertised to be easy, accurate and always free tax return filing.

Wealthsimple Spend – A hybrid pre paid debit card and savings account that allows one to earn 1% cashback on your everyday spending, as well as get a competitive 1.5% interest on savings.

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

Each of the listed products, along with Wealthsimple Trade may be accessed within the mobile app or on their site with a single login.

So How Can I Get Started Using Wealthsimple Trade?

Click here to create a new Wealthsimple Trade account. For a special registration bonus offer for our audience you will receive the equivalent cash value of a random share worth $25 up to $4,500 Canadian when you make an initial deposit to your account.

What if I Still Have Questions Related to Wealthsimple Katchen?

If this review didn’t answered each of your questions, and you’re still browsing for more facts relating to Wealthsimple Trade Buy Stocks, check out the Wealthsimple website to find answers to every one of your questions.