Wealthsimple Trade Deposit Limit: Complete Guide

What is Wealthsimple?

Wealthsimple is a simple to use Canadian online investing, stocks plus crypto trading app that differentiates itself from other apps by charging no fees. 

A leading Canadian online financial services business founded in the Fall of twenty fourteen originally as a robo advisor trading platform named Wealthsimple Invest, it has changed significantly over the last 8 years to also feature Wealthsimple Trade, a no fee discount brokerage platform.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade allows investors to trade both individual stocks and ETFs without having to pay fees. The exception to this is when trading securities that are listed in US Dollars. In this case, they will charge a small currency conversion fee both when buying and selling. But, gone are the days of having to pay more than $7 per trade with discount brokerages as was the case only a few years ago.

How Much Money Will I Need to Have to Get Started on Wealthsimple Trade?

Wealthsimple is unique in that they will allow Canadian investors to make a minimum deposit of just $1. The majority of alternative banks and discount brokerages have large min deposit amounts of 1K-5k. This makes it difficult for the common new investor to get started. With Wealthsimple Trade, one doesn’t need to be wealthy to start trading stocks and ETFs.

Does Wealthsimple Trade Have RRSP Accounts?

Of course. Wealthsimple Trade has CRA registered and non-registered accounts. You may choose both RRSP and TFSA accounts in the setup process. 

So Does Wealthsimple Trade Have a Mobile Application?

Yes, Wealthsimple Trade has a easy to use mobile app available to download on both Apple and also Google Play. The app makes the enrollment steps and also the trading of stocks and ETFs truly a breeze.

So Is Wealthsimple Trade Trustworthy?

Yes. Wealthsimple Trade is secure. Wealthsimple boasts more than 15 billion CAD in Assets Under Management . These folks have been operating for more than 7 years and currently employs about 600 Canadians. The main shareholder is the admired public Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fee digital discount brokerage to operate in Canada.

But How Does One Add Funds to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it simple to add money to a new account. Simply connect to a chequing or savings account to your Trade account, and then add funds to your account in just a few clicks. Deposits from your bank to Wealthsimple usually take a few days. Funds can also be moved to a chequing or savings account using the same process.

What Additional Features and Products Are Available?

Wealthsimple Cash – This is equivalent to Interac e-transfers that allows you to quickly and simply send cash to friends and family in Canada.

Wealthsimple Tax – Everything you need to prepare for this tax season and file your taxes online for free. It’s advertised to be easy, accurate and always free tax filing.

Wealthsimple Spend – A combination pre paid debit card and savings product which lets you to recieve 1% cashback on your purchases, and also earn a very competitive 1.5% interest on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance platform which includes a ton of online courses on topics like saving, investments, crypto, mortgages and much more. 

All of the mentioned products, including Wealthsimple Trade can be accessed in the app and on the site with your Wealthsimple login.

So How do I Begin With Wealthsimple Trade?

Click here to signup for a Wealthsimple Trade account. As an exclusive registration bonus offer for our readers you’ll receive the cash value of a share worth $25 up to $4,500 Canadian as soon as you deposit to your account.

So What if I Still Have Additional Questions About Wealthsimple Quick Deposit?

If this review didn’t answered all of your questions, and you’re browsing for further facts relating to Wealthsimple Trade Deposit Limit, visit the Wealthsimple site for answers to all your questions.