Wealthsimple Trade Guide: Complete Guide

What is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian web based Financial, stocks and crypto trading platform that differentiates itself from other apps by charging no fees. 

A Toronto, Ontario based fintech company launched in the Autumn 2014 exclusively as a robo advisor automated trading app called Wealthsimple Invest, it has changed significantly over the past 8 years to feature Wealthsimple Trade, a zero fee discount brokerage app.

Does Wealthsimple Trade Charge Any Fees?

Wealthsimple Trade allows investors trade both single stocks and also ETFs without having to pay fees. The exception to this is when you’re trading stocks that are listed in USD. In this case, they do charge a nominal currency conversion fee when buying and selling. But, behind us are the times of paying Upwards of $7 for each trade with discount brokerages as was common just a couple years ago.

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

Wealthsimple is awesome in that they allow Canadian investors to make a minimum deposit of just $1. The majority of alternative banks and brokerages have sizeable minimum deposit amounts of 1k-$5000. This makes it difficult for the everyday new investor to start. With Wealthsimple Trade, one doesn’t have to already be wealthy to begin trading stocks and ETFs.

Does Wealthsimple Trade Offer TFSA Accounts?

Yes. Wealthsimple Trade offers registered and non-CRA-registered accounts. One may select between both RRSP and TFSA account types in the setup process. 

Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade has a convenient mobile app offered on IOS and Google Play. The smartphone app makes the signup steps and the trading of stocks and ETFs super simple.

So Is Wealthsimple Trade Legit?

Of course. Wealthsimple Trade is trustworthy. Wealthsimple has over 15 billion Canadian of Assets Under Management . This company has been doing business for more than 7 years and also now employs over 600 folks. The controlling shareholder is the public Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fees online discount brokerage to operate in Canada.

How Can I Add Funds to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it so simple to deposit to an account. Simply connect to a chequing or savings account with your Trade account, and add funds to your account in just a few clicks. Deposits from your bank to Wealthsimple normally take only a few days. Funds can the same way can be withdrawn a chequing or savings accounts by using the same process.

What Other Benefits and Products Are Available?

Wealthsimple Cash – An equivalent to E-Transfers that allow one to quickly and easily send cash to friends and family in Canada.

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

Wealthsimple Spend – A hybrid pre paid visa and savings account that allows you to earn 1% cashback on your spending, as well as get a competitive 1.5% interest on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which includes a bunch of courses on different topics such as saving, investing, crypto, mortgages and much more. 

Every one of the above products, along with Wealthsimple Trade can be accessed in the mobile app or on the site with a single login.

So How Should I Begin Using Wealthsimple Trade?

Click here to register for a Wealthsimple Trade account. For an exclusive signup bonus offer to our audience you’ll receive the cash value of a random stock valued at $25 up to $4,500 CAD once you make an initial deposit to your account.

But What if I Still Have Questions Related to Wealthsimple Tfsa?

If this blog post still hasn’t given you the answers to each of your questions, and you’re searching for more information relating to Wealthsimple Trade Guide, visit the Wealthsimple site to get answers to all your questions.