Wealthsimple Trade Download: Complete Guide

What is Wealthsimple?

Wealthsimple is a simple to use Canadian online Financial, stocks plus crypto trading platform that differentiates itself from its competitors by charging no fees. 

A Toronto, Ontario based online financial services company founded in Fall 2014 exclusively as a robo advisor algorithmic trading platform called Wealthsimple Invest, it has changed significantly over the past eight years to also include Wealthsimple Trade, a zero fee discount brokerage app.

Does Wealthsimple Trade Charge Fees?

Wealthsimple Trade allows Canadian consumers trade both single stocks and ETFs without needing to pay any fees. The exception is when you’re trading ETFs and stocks which are denominated in USD. In this case, they charge a nominal currency conversion fee when buying and selling. But, behind us are the times of paying Upwards of $7 per trade with online discount brokerages as was common only a couple years ago.

Exactly How Much in Funds Will I Need to Start on Wealthsimple Trade?

Wealthsimple is special in that they will allow new customers to make a minimum deposit of only $1. The majority of alternative banks and discount brokerages have sizeable initial deposit amounts of $1000-$5000. This makes it difficult for the common new investor to start. With Wealthsimple Trade, you don’t have to already be wealthy to get started with trading stocks and ETFs.

So Does Wealthsimple Trade Offer Registered Accounts?

Yes. Wealthsimple Trade has available both CRA registered and non-CRA-registered account types. One are free to choose both RRSP and TFSA account types in the setup wizard. 

But Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade has a convenient mobile app that is offered to download on both Apple and Google Play. The app makes the enrollment process and the trading of stocks and ETFs easy.

So Is Wealthsimple Trade Trustworthy?

Of course. Wealthsimple Trade is secure. Wealthsimple reports over 15 billion CAD of Assets Under Management (AUM). This company has been in business for more than 7 years and also employs roughly 600 folks. The majority owner is the public Canadian company Power Corp of Canada. Weapthsimple Trade was the first no-fee online brokerage to operate in Canada.

But How Can I Fund a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it quite straight forward to fund an account. Just connect a chequing or savings account to your Trade account, and then fund your account in only a couple of clicks. Deposits from financial institutions to Wealthsimple normally take a couple of days. Funds can also be moved back to your chequing or savings accounts by the exact same method.

What Other Benefits and Products Are Offered by Wealthsimple?

Wealthsimple Cash – This is alternative to Interac E-transfers that allows you to quickly and simply transfer money to friends and family in Canada.

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

Wealthsimple Spend – A combination pre paid debit card and savings account that lets you to earn 1% cashback on your everyday purchases, as well as get a very competitive 1.5% interest on savings.

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

All of the above products, including Wealthsimple Trade may be found in the app and at their website with a single login.

So How Can I Get Started Using Wealthsimple Trade?

Click here to signup for a new Wealthsimple Trade account. As an exclusive registration bonus offer to our readers you will receive the equivalent cash value of a stock valued at $25 up to $4,500 CAD as soon as you deposit to your account.

But What if I Still Have Additional Questions Concerning Wealthsimple Qr Code?

If this review still hasn’t answered each of your questions, and you’re searching for additional specific info relating to Wealthsimple Trade Download, visit the Wealthsimple site to find answers to every one of your questions.