Wealthsimple Trade Cost: Complete Guide

What Exactly is Wealthsimple?

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

A leading Canadian fintech business founded in Fall twenty fourteen exclusively as a robo-advisor algorithmic automated trading app called Wealthsimple Invest, it has improved substantially over the last eight years to also feature Wealthsimple Trade, a no fee discount brokerage service.

Does Wealthsimple Trade Charge Fees?

Wealthsimple Trade allows consumers trade single stocks and also ETFs without needing to pay any commissions. The exception to this is when trading ETFs and stocks which are listed in US Dollars. In this case, they do charge a small currency conversion fee both when buying and selling. But, gone are the days of having to pay more than $7 per each trade with discount brokerages as was the case only a couple years ago.

Exactly How Much Money do I Need in Order to Get Started With Wealthsimple Trade?

Wealthsimple is unique such that they allow new customers to make a minimum deposit of just $1. The majority of alternative banks and discount brokerages have large min deposit amounts of 1k-$5000. This makes it hard for the everyday new investor to get started. With Wealthsimple Trade, one doesn’t have to already be wealthy to start trading stocks and ETFs.

Does Wealthsimple Trade Offer RRSP Accounts?

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

So Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade has a well designed mobile app offered on Apple and Google Play. The app makes the signup steps and also trading of stocks and ETFs a breeze.

So Is Wealthsimple Trade Trustworthy?

For sure. Wealthsimple Trade is safe. Wealthsimple has in excess of 15 billion Canadian of Assets Under Management (AUM). they’ve been operating for more than 7 years and also employs more than 600 people. The primary owner is the publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fee digital discount brokerage to operate in Canada.

How Can I Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it very simple to add funds to your account. Simply connect the app to a chequing or savings account with your Trade account, and then add funds to your account in just a couple of steps. Deposits from your bank to Wealthsimple normally take a few days. Funds can also be moved back to a chequing or savings accounts by the exact same method.

What Additional Benefits and Products Are Available?

Wealthsimple Cash – An alternative to Interac E-transfers that allow one to quickly and simply send money to friends and family in Canada.

Wealthsimple Tax – Everything you require to get ready for tax year and file your taxes online free. It’s described as simple, accurate and always totally free tax return filing.

Wealthsimple Spend – A combination prepaid visa and savings product that allows you to recieve 1% cashback on all your purchases, as well as get a competitive 1.5% interest rate on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that offers a bunch of online courses on different topics such as saving, investing, crypto, home buying and more. 

Every one of the above products, including Wealthsimple Trade may be found on the app and at their website with your Wealthsimple login.

How do I Start Using Wealthsimple Trade?

Click here to create a new Wealthsimple Trade account. As a special signup bonus offer to our audience you will get the equivalent cash value of a Canadian stock valued at up to $4,500 Canadian once you make an initial deposit to your account.

But What if I Still Have Questions Related to Wealthsimple Luna?

If this article still hasn’t answered all of your questions, and you’re looking for more specific information relating to Wealthsimple Trade Cost, go to the Wealthsimple site to get answers to all your questions.