Wealthsimple Trade Dividend Payout: Complete Guide

What is Wealthsimple?

Wealthsimple is an easy to use Canadian web based investing, stock plus crypto trading platform that differentiates itself from its competitors by charging absolutely no fees. 

A fintech business launched in Fall 2014 originally as a robo advisor algorithmic trading app named Wealthsimple Invest, it has grown substantially over the last 8 years to also feature Wealthsimple Trade, a zero fees discount brokerage platform.

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade allows consumers to trade both individual stocks and also ETFs without needing to pay any fees. The exception to this is when trading stocks which are denominated in US Dollars. In which case, they do charge a nominal currency conversion fee both when buying and selling. However, past us are the days of having to pay more than $7 for each trade with discount brokerages as was the case a few years ago.

Exactly How Much in Funds Will I Need to Get Started With Wealthsimple Trade?

Wealthsimple is unique such that they allow Canadian investors to make a minimum deposit of only $1. The majority of alternative banks and discount brokerages have quite large minimum deposit amounts of $1000-5k. This makes it difficult for the common investor to start. With Wealthsimple Trade, you won’t have to already be wealthy to start trading stocks and ETFs.

But Does Wealthsimple Trade Have Registered Accounts?

It does. Wealthsimple Trade has registered and non-CRA-registered account types. You are free to choose between both RRSP and TFSA account types in the setup process. 

So Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade has a well designed mobile app that is available to download on both IOS and Android. The app makes the registration steps and also the trading of stocks and ETFs truly simple.

So Is Wealthsimple Trade Legit?

For sure. Wealthsimple Trade is trustworthy. Wealthsimple has in excess of 15 billion CAD of Assets Under Management (AUM). they’ve been in business for more than 7 years and right now employs roughly 600 people. The controlling shareholder is the large publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital discount brokerage operating in Canada.

So How Does One Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it very easy to add funds to your new account. Just connect a chequing or savings account with your Trade account, and add money to your account in only a couple of steps. Deposits from your bank to Wealthsimple usually take only a few days. Funds can just as easily be withdrawn your chequing or savings accounts through the exact same method.

What Other Features and Products Does Wealthsimple Offer?

Wealthsimple Cash – An equivalent to Interac e-transfers which allow anyone to quickly and efficiently send cash to friends and family in Canada.

Wealthsimple Tax – Everything you’ll need to get ready for tax season and submit your tax return online for free. It’s described as easy, accurate and always free tax filing.

Wealthsimple Spend – A combination prepaid visa and savings product which allows one to earn 1% cashback on all your spending, as well as get a competitive 1.5% interest rate on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance platform that offers a variety of different courses on topics like saving, investing, crypto, mortgages and much more. 

Each of the mentioned products, including Wealthsimple Trade can be found within the app or on their site with a single login.

So How do I Start With Wealthsimple Trade?

Click here to signup for your Wealthsimple Trade account. For an exclusive signup bonus offer for our audience you’ll receive the equivalent cash value of a random stock worth $25 up to $4,500 Canadian once you add funds to your account.

But What if I Still Have Additional Questions About Questrade Vs Wealthsimple Reddit?

If this blog post hasn’t answered each of your questions, and you’re still looking for more answers relating to Wealthsimple Trade Dividend Payout, go to the Wealthsimple site to find answers to each your questions.