Wealthsimple Trade Management Fee: Complete Guide

What is Wealthsimple?

Wealthsimple is an easy to use Canadian digital Financial, securities plus crypto trading web app that differentiates itself from its competitors by charging no fees. 

A online financial services company launched in the Autumn of twenty fourteen originally as a robo-advisor algorithmic trading platform named Wealthsimple Invest, it has evolved significantly over the previous eight years to also include Wealthsimple Trade, a no fees discount brokerage service.

Does Wealthsimple Trade Charge Any Fees?

Wealthsimple Trade allows Canadian investors to trade single stocks and also ETFs without having to pay fees. The exception to this is when trading ETFs and stocks that are displayed in USD currency. In that case, they charge a currency conversion fee when buying and selling. However, gone are the times of having to pay Upwards of $7 per each trade with digital discount brokerages as was expected just a few years past.

How Much Money do I Need to Have to Start on Wealthsimple Trade?

Wealthsimple is cool in that they allow Canadians to make a minimum deposit of only $1. Many alternative banks and brokerages have quite large initial deposit amounts of $1000-5k. This makes it difficult for the normal new investor to get started. With Wealthsimple Trade, one doesn’t have to already be wealthy to start trading stocks and ETFs.

Does Wealthsimple Trade Have RRSP Accounts?

Of course. Wealthsimple Trade has available registered and non-registered account types. You may choose between both RRSP and TFSA account types during the setup wizard. 

So Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade offers a convenient mobile app that is available on both iOS and Google Play. The smartphone app makes the enrollment process and also trading of stocks and ETFs a breeze.

Is Wealthsimple Trade Secure?

Yes. Wealthsimple Trade is safe. Wealthsimple reports more than 15 billion Canadian of Assets Under Management . These folks have been in business for more than 7 years and also right now employs over 600 folks. The controlling shareholder is the respected public Canadian company Power Corp of Canada. Weapthsimple Trade was the first no-fees digital discount brokerage to operate in Canada.

How Do I Add Money to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it straight forward to add money to your account. Just connect a chequing or savings account with your Trade account, and then add money to your account in simply a few steps. Deposits from your bank to Wealthsimple usually take just a few days. Funds can the same way can be moved back to your chequing or savings accounts by using the exact same method.

What Additional Features and Products Are Available?

Wealthsimple Cash – An alternative to Interac E-Transfers which allows you to quickly and simply transfer cash to friends and family in Canada.

Wealthsimple Tax – Everything you’ll require to get ready for tax year and file your tax return online free. It’s advertised as simple, accurate and always free tax filing.

Wealthsimple Spend – A combination prepaid visa and savings product which allows you to get 1% cashback on your everyday purchases, as well as get a very competitive 1.5% interest on savings.

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

All of the listed features, along with Wealthsimple Trade may be accessed inside the app or from the website with your Wealthsimple login.

How Can I Begin With Wealthsimple Trade?

Click here to create a Wealthsimple Trade account. As a special registration bonus offer for our readers you’ll get the cash value of a random Canadian stock worth up to $4,500 Canadian when you deposit to your account.

But What if I Still Have Questions Related to What Is Wealthsimple Invest?

If this review didn’t answered each of your questions, and you’re looking for additional information relating to Wealthsimple Trade Management Fee, go to the Wealthsimple site to get answers to every one of your questions.