Wealthsimple Trade Insurance: Complete Guide

What is Wealthsimple?

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

A fintech business launched in the Fall twenty fourteen exclusively as a robo advisor algorithmic trading app called Wealthsimple Invest, it has changed significantly over the last eight years to also feature Wealthsimple Trade, a no fee discount brokerage platform.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade lets consumers trade both single stocks and also ETFs without having to pay any fees. The exception is when you’re trading securities that are denominated in USD. In that case, they charge a currency conversion fee both when buying and selling. However, past us are the days of having to pay more than $7 per each trade with digital discount brokerages as was normal a few years past.

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

Wealthsimple is cool such that they allow Canadian investors to make a minimum deposit of only $1. The majority of traditional banks and discount brokerages have quite large initial deposit amounts of $1000-$5,000. This makes it difficult for the every day investor to start. With Wealthsimple Trade, one doesn’t have to be wealthy to get started with trading stocks and ETFs.

Does Wealthsimple Trade Have RRSP Accounts?

Of course. Wealthsimple Trade has CRA registered and non-registered account types. You may choose both RRSP and TFSA account types in the setup phase. 

But Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade offers a well designed mobile app available to download on both iOS and also Google Play. The mobile app makes the registration process and also trading of stocks and ETFs super simple.

But Is Wealthsimple Trade Legit?

Yes. Wealthsimple Trade is safe. Wealthsimple reports over 15 billion Canadian of Assets Under Management (AUM). These folks have been operating for more than 7 years and at this time employs roughly 600 Canadians. The main shareholder is the publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fee online brokerage to operate in Canada.

So How Can I Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it incredibly straight forward to deposit to an account. Just connect to a chequing or savings account with your Trade account, then add money to your account in only a few clicks. Deposits from banks to Wealthsimple typically take only a couple of days. Funds can just as easily be withdrawn a chequing or savings account by using the same process.

Which Other Features and Products Are Available?

Wealthsimple Cash – This is alternative to Interac e-transfers which allow anyone to quickly and efficiently send money to friends and family in Canada.

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

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

Personal Finance 101 – This is Wealthsimple’s free personal finance platform which includes a bunch of courses on topics like saving, investing, crypto, home buying and more. 

All of the above features, including Wealthsimple Trade may be found inside the mobile app and at their website with your Wealthsimple login.

How Should I Start With Wealthsimple Trade?

Click here to create a Wealthsimple Trade account. For a special registration bonus offer to our audience you’ll get the equivalent cash value of a random Canadian stock valued at up to $4,500 Canadian as soon as you deposit to your account.

But What if I Still Have Questions Concerning Using Wealthsimple?

If this article didn’t given you the answers to each of your questions, and you’re browsing for more info relating to Wealthsimple Trade Insurance, check out the Wealthsimple site to get answers to all your questions.