Wealthsimple Trade Charges: Complete Guide

What Exactly is Wealthsimple?

Wealthsimple is a simple to use Canadian digital Financial, stock and crypto trading web app that distinguishes itself from other apps by charging absolutely no fees. 

A leading Canadian online financial services company launched in the Fall 2014 exclusively as a robo advisor algorithmic automated trading platform called Wealthsimple Invest, it has changed substantially over the previous eight years to include Wealthsimple Trade, a zero fees discount brokerage platform.

Does Wealthsimple Trade Charge Its Users Fees?

Wealthsimple Trade lets Canadian investors to trade both single stocks and ETFs without needing to pay fees. The exception is when you’re trading stocks and ETFs which are listed in USD. In this case, they charge a small currency conversion fee both when buying and selling. But, gone are the times of having to pay Upwards of $7 per trade with online discount brokerages as was the case just a few years past.

Exactly How Much Cash Will I Need to Have in Order to Get Started With Wealthsimple Trade?

Wealthsimple is unique in that they allow new customers to make a minimum deposit of just $1. The majority of traditional banks and discount brokerages have large initial deposit amounts of 1k-5k. This makes it tough for the normal new investor to start investing. With Wealthsimple Trade, you don’t need to already be wealthy to start trading stocks and ETFs.

So Does Wealthsimple Trade Have RRSP Accounts?

It does. Wealthsimple Trade has available both registered and non-registered accounts. You are able to select both RRSP and TFSA accounts during the setup process. 

Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade has a easy to use mobile app available to download on iOS and also Google Play. The mobile app makes the signup process and the trading of stocks and ETFs incredibly a breeze.

Is Wealthsimple Trade Safe?

Definitely. Wealthsimple Trade is legit. Wealthsimple reports more than 15 billion CAD of Assets Under Management . they’ve been doing business for more than 7 years and also right now employs over 600 people. The controlling owner is the respected public Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fee online brokerage operating in Canada.

How Do I Add Money to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it easy to add funds to an account. Just connect the app to a chequing or savings account with your Trade account, and fund your account in just a couple of steps. Deposits from financial institutions to Wealthsimple normally take just a couple of days. Funds can also be withdrawn your chequing or savings accounts by using the exact same process.

What Other Features and Products Are Available?

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

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

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

Personal Finance 101 – Wealthsimple’s free personal finance learning platform which offers a variety of different courses on topics like saving, investing, crypto, home buying and more. 

Each of the above features, including Wealthsimple Trade can be found on the app and from their site with your Wealthsimple login.

But How Should I Start With Wealthsimple Trade?

Click here to signup for your Wealthsimple Trade account. For a special signup bonus offer to our audience you will get the equivalent cash value of a random stock worth up to $4,500 CAD when you add funds to your account.

What if I Still Have Additional Questions About Wealthsimple Leadership Team?

If this blog post hasn’t given you the answers to all of your questions, and you’re searching for additional info about Wealthsimple Trade Charges, visit the Wealthsimple site to get answers to all your questions.