Wealthsimple Trade Error: Complete Guide

What is Wealthsimple?

Wealthsimple is a simple to use Canadian online Financial, stock plus crypto trading web app that differentiates itself from similar apps by charging no fees. 

A online financial services company founded in the Autumn twenty fourteen originally as a robo advisor automated trading app named Wealthsimple Invest, it has evolved considerably over the last eight years to feature Wealthsimple Trade, a no fees discount brokerage app.

Does Wealthsimple Trade Charge Fees?

Wealthsimple Trade lets consumers to trade individual stocks and also ETFs without having to pay any commissions. The exception to this is when you’re trading stocks and ETFs which are listed in US Dollars. In which case, they do charge a small currency conversion fee both when buying and selling. However, past us are the days of paying $7-12 for each trade with online discount brokerages as was common only a couple years ago.

How Much Cash Will I Need to Start on Wealthsimple Trade?

Wealthsimple is cool such that they allow investors to make a minimum deposit of only $1. Most alternative banks and brokerages have sizeable minimum deposit amounts of $1,000-$5,000. This makes it impossible for the typical new investor to start investing. With Wealthsimple Trade, you don’t need to be wealthy to get started with trading stocks and ETFs.

So Does Wealthsimple Trade Offer TFSA Accounts?

They do. Wealthsimple Trade has CRA registered and non-registered account types. One are free to select between both RRSP and TFSA account types in the setup process. 

But Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade offers a easy to use mobile app that is available on Apple and Google Play. The mobile app makes the enrollment phase and also the trading of stocks and ETFs super simple.

Is Wealthsimple Trade Legit?

Of course. Wealthsimple Trade is secure. Wealthsimple reports over 15 billion CAD in Assets Under Management (AUM). This company has been doing business for more than 7 years and also at this time employs about 600 Canadians. The controlling owner is the public Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fee digital discount brokerage to operate in Canada.

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

The Wealthsimple Trade mobile app makes it simple to deposit to your account. Just connect to a chequing or savings account to your Trade account, and then add money to your account in simply a few clicks. Deposits from your bank to Wealthsimple typically take a few days. Funds can also be moved to a chequing or savings accounts by using the same steps.

What Other Features and Products Are Available?

Wealthsimple Cash – An alternative to Interac E-transfers which allows you to quickly and efficiently transfer cash to friends and family in Canada.

Wealthsimple Tax – Everything you need to prepare for this tax season and submit your tax return online free. It’s advertised to be simple, accurate and always totally free income tax filing.

Wealthsimple Spend – A hybrid pre paid visa and savings product that allows you to earn 1% cashback on all your everyday spending, and also get a competitive 1.5% interest rate on savings.

Personal Finance 101 – Wealthsimple’s free personal finance education platform that includes a variety of different online courses on saving, investing, crypto, home buying and more. 

Each of the above features, along with Wealthsimple Trade can be accessed on the app and at the website with your Wealthsimple login.

But How do I Begin With Wealthsimple Trade?

Click here to signup for a Wealthsimple Trade account. As an exclusive signup bonus offer to our audience you’ll get the cash value of a stock worth $25 up to $4,500 CAD when you fund your account.

What if I Still Have Questions About Wealthsimple Raises?

If this article didn’t answered all of your questions, and you’re still looking for further information relating to Wealthsimple Trade Error, check out the Wealthsimple website to get answers to all your questions.