Wealthsimple Trade Drip Reddit: Complete Guide

What is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian online investing, stock and crypto trading platform that distinguishes itself from the competition by charging no fees. 

A leading Canadian online financial services business launched in the Fall of twenty fourteen originally as a robo-advisor trading platform named Wealthsimple Invest, it has evolved significantly over the previous eight years to feature Wealthsimple Trade, a no fees discount brokerage platform.

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade lets consumers trade both stand alone stocks and also ETFs without having to pay fees. The exception to this is when trading ETFs and stocks that are listed in USD currency. In this case, they will charge a nominal currency conversion fee when buying and selling. However, past us are the days of having to pay $7-12 per trade with discount brokerages as was the norm just a couple years past.

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

Wealthsimple is unique such that they allow new customers to make a minimum deposit of only $1. Many alternative banks and brokerages have large minimum deposit amounts of $1,000-5K. This makes it impossible for the everyday new investor to start. With Wealthsimple Trade, you don’t have to already be wealthy to begin trading stocks and ETFs.

So Does Wealthsimple Trade Have TFSA Accounts?

They do. Wealthsimple Trade has CRA registered and non-registered accounts. One are able to choose between both RRSP and TFSA accounts in the setup phase. 

But Does Wealthsimple Trade Have a Mobile Application?

Yes, Wealthsimple Trade has a easy to use mobile app that is offered on both Apple and Android. The mobile app makes the registration phase and also trading of stocks and ETFs painless.

But Is Wealthsimple Trade Trustworthy?

Yes. Wealthsimple Trade is secure. Wealthsimple reports more than 15 billion Canadian in Assets Under Management . they’ve been operating for more than 7 years and also at this time employs more than 600 people. The main shareholder is the respected public Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fee digital brokerage to operate in Canada.

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

The Wealthsimple Trade smartphone app makes it quite easy to fund your account. Simply connect the app to a chequing or savings account to your Trade account, then add money to your account in just a couple of steps. Deposits from financial institutions to Wealthsimple typically take only a couple of days. Funds can also be moved back to your chequing or savings account by using the same method.

What Other Features and Products Are Available?

Wealthsimple Cash – This is equivalent to E-Transfers which allow you to quickly and efficiently transfer money to friends and family in Canada.

Wealthsimple Tax – Everything you need to prepare for tax year and submit your tax return online for free. It’s pitched to be easy, accurate and always totally free income tax filing.

Wealthsimple Spend – A combination pre paid visa and savings account that allows you to earn 1% cashback on all your everyday spending, 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 ton of different online courses on saving, investments, crypto, mortgages and more. 

Each of the listed products, including Wealthsimple Trade may be found on the mobile app or on the website with your Wealthsimple login.

But How Can I Get Started Using Wealthsimple Trade?

Click here to create your Wealthsimple Trade account. For an exclusive registration bonus offer to our audience you’ll get the cash value of a stock worth up to $4,500 CAD once you fund your account.

What if I Still Have Additional Questions Concerning Wealthsimple Quora?

If this blog post still hasn’t answered all of your questions, and you’re browsing for additional specific info about Wealthsimple Trade Drip Reddit, check out the Wealthsimple website for answers to each your questions.