Wealthsimple Trade Legit: Complete Guide

What is Wealthsimple?

Wealthsimple is a simple to use Canadian web based Financial, stocks and crypto trading platform that sets itself apart from its competitors by charging no fees. 

A Toronto, Ontario based fintech business founded in Autumn of twenty fourteen originally as a robo advisor algorithmic trading app named Wealthsimple Invest, it has evolved considerably over the previous eight years to also include Wealthsimple Trade, a no fees discount brokerage app.

Does Wealthsimple Trade Charge Its Users Fees?

Wealthsimple Trade allows Canadian consumers trade single stocks and ETFs without having to pay any fees. The exception to this is when trading securities which are denominated in USD currency. In that case, they do charge a currency conversion fee when buying and selling. But, behind us are the days of having to pay $7-12 per trade with online discount brokerages as was normal a few years past.

How Much in Funds do I Need in Order to Get Started With Wealthsimple Trade?

Wealthsimple is unique such that they allow Canadian investors to make a minimum deposit of only $1. Most traditional banks and discount brokerages have large min deposit amounts of $1000-5k. This makes it hard for the common investor to get started. With Wealthsimple Trade, one doesn’t have to be wealthy to start trading stocks and ETFs.

Does Wealthsimple Trade Offer TFSA Accounts?

Yes. Wealthsimple Trade offers both registered and non-CRA-registered accounts. One can select both RRSP and TFSA account types during the setup phase. 

So Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade has a convenient mobile app offered to download on both iOS and also Android. The mobile app makes the signup phase and also trading of stocks and ETFs super simple.

Is Wealthsimple Trade Secure?

Yes. Wealthsimple Trade is trustworthy. Wealthsimple has more than 15 billion CAD of Assets Under Management . they’ve been in business for more than 7 years and employs over 600 people. The main owner is the admired publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fee digital brokerage operating in Canada.

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

The Wealthsimple Trade smartphone app makes it incredibly simple to add money to a new account. Just connect to a chequing or savings account with your Trade account, then add funds to your account in simply a few clicks. Deposits from banks to Wealthsimple normally take just a few days. Funds can the same way can be moved back to your chequing or savings accounts through the exact same steps.

Which Additional Features and Products Are Available?

Wealthsimple Cash – This is equivalent to E-Transfers that allow you to quickly and efficiently send cash to friends and family in Canada.

Wealthsimple Tax – Everything you’ll require to prepare for this tax year and submit your taxes online free. It’s pitched to be easy, accurate and always totally free tax filing.

Wealthsimple Spend – A hybrid pre paid debit card and savings product that lets you to earn 1% cashback on all your spending, and also get a very competitive 1.5% interest rate on savings.

Personal Finance 101 – Wealthsimple’s free personal finance education platform that includes a bunch of courses on different topics such as saving, investing, crypto, home buying and much more. 

Each of the mentioned features, along with Wealthsimple Trade can be found on the mobile app and on the website with a single login.

How do I Start With Wealthsimple Trade?

Click here to register for your Wealthsimple Trade account. As an exclusive signup bonus offer to our readers you’ll receive the cash value of a stock worth $25 up to $4,500 CAD when you add funds to your account.

But What if I Still Have Questions Concerning Vanguard S&p 500 Etf Wealthsimple?

If this review hasn’t given you the answers to all of your questions, and you’re browsing for additional info relating to Wealthsimple Trade Legit, go to the Wealthsimple site to get answers to each your questions.