Wealthsimple Trade Gic: Complete Guide

What is Wealthsimple?

Wealthsimple is a simple to use Canadian online investing, securities and crypto trading web app that distinguishes itself from its competitors by charging absolutely no fees. 

A fintech business launched in the Fall twenty fourteen originally as a robo advisor trading app named Wealthsimple Invest, it has evolved considerably over the previous eight years to feature Wealthsimple Trade, a no fee discount brokerage app.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade lets investors to trade individual stocks and ETFs without needing to pay commissions. The exception is when you’re trading stocks that are denominated in US Dollars. In that case, they will charge a small currency conversion fee both when buying and selling. However, gone are the times of having to pay $7-12 per trade with discount brokerages as was common a few years past.

How Much Cash Will I Need to Have in Order to Start Investing With Wealthsimple Trade?

Wealthsimple is unique such that they will allow investors to make a minimum deposit of just $1. Most traditional banks and brokerages have sizeable minimum deposit amounts of 1k-5K. This makes it hard for the everyday new investor to start. With Wealthsimple Trade, you won’t have to be wealthy to start trading stocks and ETFs.

So Does Wealthsimple Trade Have TFSA Accounts?

It does. Wealthsimple Trade offers registered and non-registered accounts. One are free to select both RRSP and TFSA account types in the setup wizard. 

But Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade has a convenient mobile app that is offered on iOS and Google Play. The smartphone app makes the registration process and the trading of stocks and ETFs easy.

Is Wealthsimple Trade Safe?

Of course. Wealthsimple Trade is trustworthy. Wealthsimple reports over 15 billion Canadian of Assets Under Management . These folks have been operating for more than 7 years and also employs about 600 Canadians. The majority shareholder is the large publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fee online brokerage operating in Canada.

But How Does One Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it so straight forward to add funds to a new account. Just connect a chequing or savings account with your Trade account, and add money to your account in just a few steps. Deposits from your bank to Wealthsimple normally take only a couple of days. Funds can just as easily be moved back to your chequing or savings accounts by the exact same method.

What Other Features and Products Does Wealthsimple Offer?

Wealthsimple Cash – This is equivalent to Interac E-Transfers which allow anyone to quickly and easily transfer cash to friends and family in Canada.

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

Wealthsimple Spend – A combination pre paid debit card and savings product which lets one to earn 1% cashback on all your spending, as well as earn a very competitive 1.5% interest rate on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which includes a ton of courses on topics like saving, investments, crypto, mortgages and more. 

All of the above features, including Wealthsimple Trade can be found inside the app and on the website with one login.

How Should I Start Using Wealthsimple Trade?

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

So What if I Still Have Questions Concerning Stocks To Buy On Wealthsimple?

If this review hasn’t answered each of your questions, and you’re searching for more facts relating to Wealthsimple Trade Gic, go to the Wealthsimple site to get answers to all your questions.