Wealthsimple Trade Hidden Fees: Complete Guide

What Exactly is Wealthsimple?

Wealthsimple is an easy to use Canadian web based Financial, stocks plus crypto trading web app that differentiates itself from the competition by charging no fees. 

A online financial services business founded in the Fall of twenty fourteen originally as a robo-advisor algorithmic automated trading app called Wealthsimple Invest, it has evolved substantially over the last 8 years to also include Wealthsimple Trade, a zero fees discount brokerage app.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade lets consumers trade single stocks and also ETFs without needing to pay fees. The exception to this is when trading ETFs and stocks that are displayed in US Dollars. In this case, they charge a currency conversion fee both when buying and selling. But, behind us are the times of having to pay $7-12 for each trade with discount brokerages as was normal only a couple years ago.

Exactly How Much Money do I Need to Start With Wealthsimple Trade?

Wealthsimple is special in that they allow Canadians to make a minimum deposit of only $1. Many alternative banks and discount brokerages have sizeable initial deposit amounts of 1K-5K. This makes it tough for the every day new investor to start. With Wealthsimple Trade, you won’t have to be wealthy to start trading stocks and ETFs.

But Does Wealthsimple Trade Offer Registered Accounts?

It does. Wealthsimple Trade offers CRA registered and non-CRA-registered accounts. You may choose both RRSP and TFSA account types in the setup wizard. 

Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade has a well designed mobile app that is available on iOS and also Google Play. The app makes the enrollment steps and trading of stocks and ETFs truly simple.

So Is Wealthsimple Trade Legit?

Yes. Wealthsimple Trade is safe. Wealthsimple reports in excess of 15 billion CAD of Assets Under Management (AUM). They have been doing business for more than 7 years and now employs more than 600 Canadians. The controlling shareholder is the public Canadian corporation Power Corp of Canada. Weapthsimple Trade is the very first no-fees online brokerage to operate in Canada.

So How Do I Add Funds to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it quite straight forward to add money to your account. Just connect the app to a chequing or savings account to your Trade account, and fund your account in simply a few steps. Deposits from financial institutions to Wealthsimple usually take just a couple of days. Funds can just as easily be moved back to your chequing or savings account through the same steps.

Which Additional Benefits and Products Does Wealthsimple Offer?

Wealthsimple Cash – An alternative to e-transfers that allow one 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 file your taxes online free. It’s advertised to be easy, accurate and always free tax return filing.

Wealthsimple Spend – A combination prepaid visa and savings product which lets you to recieve 1% cashback on all your everyday spending, as well as earn a very competitive 1.5% interest rate on savings.

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

Every one of the above features, including Wealthsimple Trade can be accessed in the mobile app and from the website with one login.

So How Can I Get Started Using Wealthsimple Trade?

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

But What if I Still Have Questions Concerning Tfsa Wealthsimple Reddit?

If this blog post didn’t given you the answers to each of your questions, and you’re still searching for additional answers relating to Wealthsimple Trade Hidden Fees, check out the Wealthsimple site to find answers to all your questions.