Wealthsimple Trade Fractional Shares: Complete Guide

What is Wealthsimple?

Wealthsimple is an easy to use Canadian digital investing, stocks plus crypto trading web app that distinguishes itself from its competitors by charging absolutely no fees. 

A fintech business founded in Fall of twenty fourteen originally as a robo advisor automated trading app named Wealthsimple Invest, it has changed substantially over the last 8 years to include Wealthsimple Trade, a zero fees discount brokerage platform.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade lets consumers to trade single stocks and ETFs without having to pay any commissions. The exception to this is when you’re trading stocks and ETFs which are listed in USD currency. In which case, they do charge a small currency conversion fee both when buying and selling. But, past us are the times of having to pay Upwards of $7 for each trade with online discount brokerages as was the case a few years ago.

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

Wealthsimple is special in that they allow investors to make a minimum deposit of only $1. The majority of traditional banks and discount brokerages have sizeable minimum deposit amounts of 1k-$5000. This makes it difficult for the typical new investor to get started. With Wealthsimple Trade, you won’t need to be wealthy to begin trading stocks and ETFs.

Does Wealthsimple Trade Have Registered Accounts?

It does. Wealthsimple Trade has available registered and non-CRA-registered account types. You can choose both RRSP and TFSA account types in the setup process. 

So Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade offers a modern mobile app offered on both Apple and also Google Play. The mobile app makes the enrollment phase and also trading of stocks and ETFs very a breeze.

But Is Wealthsimple Trade Safe?

Yes. Wealthsimple Trade is safe. Wealthsimple reports more than 15 billion Canadian of Assets Under Management . These folks have been expanding for more than 7 years and also currently employs about 600 folks. The primary owner is the large publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the first no-fees online discount brokerage to operate in Canada.

So How Can I Add Money to a Wealthsimple Trade Account?

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

What Other Benefits and Products Are Offered by Wealthsimple?

Wealthsimple Cash – An equivalent to E-transfers that allow anyone to quickly and efficiently transfer cash to friends and family in Canada.

Wealthsimple Tax – Everything you’ll require to prepare for this tax season and submit your taxes online free. It’s described as easy, accurate and always free tax filing.

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

Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which offers a ton of courses on different topics such as saving, investments, crypto, real estate and much more. 

Each of the listed features, along with Wealthsimple Trade may be found inside the mobile app and at their website with your Wealthsimple login.

So How Should I Start Using Wealthsimple Trade?

Click here to signup for a new Wealthsimple Trade account. As an exclusive registration bonus for our readers you’ll receive the cash value of a random Canadian stock valued at up to $4,500 CAD as soon as you fund your account.

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

If this article didn’t answered all of your questions, and you’re still searching for additional answers relating to Wealthsimple Trade Fractional Shares, check out the Wealthsimple website for answers to each your questions.