Wealthsimple Trade Instant Deposit: Complete Guide

What is Wealthsimple?

Wealthsimple is a simple to use Canadian web based Financial, stocks plus crypto trading platform that distinguishes itself from similar apps by charging no fees. 

A fintech business launched in the Fall of 2014 exclusively as a robo-advisor automated trading app named Wealthsimple Invest, it has evolved significantly over the past 8 years to include Wealthsimple Trade, a zero fee discount brokerage app.

Does Wealthsimple Trade Charge Any Fees?

Wealthsimple Trade lets Canadian consumers trade both stand alone stocks and also ETFs without having to pay fees. The exception to this is when trading securities that are displayed in USD. In this case, they charge a currency conversion fee when buying and selling. However, past us are the days of paying $7-12 per each trade with digital discount brokerages as was the norm a couple years past.

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

Wealthsimple is unique such that they allow new customers to make a minimum deposit of only $1. Most traditional banks and brokerages have quite large min deposit amounts of $1,000-$5,000. This makes it tough for the everyday new investor to start investing. With Wealthsimple Trade, you don’t have to already be wealthy to get started with trading stocks and ETFs.

Does Wealthsimple Trade Offer TFSA Accounts?

They do. Wealthsimple Trade has available CRA registered and non-CRA-registered account types. You may select both RRSP and TFSA account types in the setup wizard. 

So Does Wealthsimple Trade Have a Mobile Application?

Yes, Wealthsimple Trade has a modern mobile app that is available on IOS and Google Play. The app makes the signup phase and the trading of stocks and ETFs very a breeze.

But Is Wealthsimple Trade Trustworthy?

Of course. Wealthsimple Trade is secure. Wealthsimple has in excess of 15 billion CAD of Assets Under Management (AUM). They have been in business for more than 7 years and at this time employs roughly 600 Canadians. The main shareholder is the respected publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fee online discount brokerage operating in Canada.

But How Does One Add Money to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it quite straight forward to add funds to an account. Simply connect a chequing or savings account with your Trade account, and add money to your account in simply a few clicks. Deposits from banks to Wealthsimple usually take only a couple of days. Funds can just as easily be withdrawn your chequing or savings accounts by the exact same process.

Which Additional Benefits and Products Does Wealthsimple Offer?

Wealthsimple Cash – An alternative to e-Transfers which allow anyone to quickly and simply transfer money to friends and family in Canada.

Wealthsimple Tax – Everything you need to prepare for tax season and file your taxes online free. It’s described as simple, accurate and always free tax filing.

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

Personal Finance 101 – Wealthsimple’s free personal finance education platform that includes a ton of courses on topics like saving, investing, crypto, real estate and much more. 

All of the listed products, including Wealthsimple Trade may be found within the mobile app and from the site with your Wealthsimple login.

But How Should I Start With Wealthsimple Trade?

Click here to register for a Wealthsimple Trade account. As a special registration bonus offer to our audience you will receive the equivalent cash value of a random stock valued at $25 up to $4,500 Canadian when you deposit to your account.

But What if I Still Have Questions Concerning Wealthsimple Ui?

If this review hasn’t given you the answers to each of your questions, and you’re still browsing for additional specific information relating to Wealthsimple Trade Instant Deposit, check out the Wealthsimple website for answers to every one of your questions.