Wealthsimple Trade Margin: Complete Guide

What Exactly is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian digital investing, stock and crypto trading web app that differentiates itself from similar apps by charging absolutely no fees. 

A leading Canadian online financial services company founded in Autumn of twenty fourteen originally as a robo advisor automated trading app named Wealthsimple Invest, it has evolved substantially over the previous eight years to feature Wealthsimple Trade, a no fees discount brokerage service.

Does Wealthsimple Trade Charge Its Users Fees?

Wealthsimple Trade lets investors to trade individual stocks and ETFs without paying any commissions. The exception to this is when you’re trading ETFs and stocks which are listed in USD currency. In which case, they will charge a nominal currency conversion fee when buying and selling. However, behind us are the days of paying Upwards of $7 for each trade with online discount brokerages as was normal just a few years ago.

How Much Money Will I Need to Have to Begin Investing on Wealthsimple Trade?

Wealthsimple is cool such that they will allow new customers to make a minimum deposit of just $1. Many traditional banks and discount brokerages have quite large min deposit amounts of 1k-$5000. This makes it impossible for the normal new investor to start. With Wealthsimple Trade, one doesn’t have to be wealthy to start trading stocks and ETFs.

But Does Wealthsimple Trade Offer RRSP Accounts?

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

So Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade offers a modern mobile app that is offered on both Apple and also Android. The smartphone app makes the registration steps and also the trading of stocks and ETFs super painless.

But Is Wealthsimple Trade Legit?

Yes. Wealthsimple Trade is trustworthy. Wealthsimple boasts in excess of 15 billion Canadian of Assets Under Management (AUM). This company has been doing business for more than 7 years and also currently employs roughly 600 people. The main owner is the publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fees online discount brokerage operating in Canada.

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

The Wealthsimple Trade mobile app makes it incredibly easy to deposit to an account. Just connect to a chequing or savings account to your Trade account, and then fund your account in simply a few steps. Deposits from financial institutions to Wealthsimple typically take just a few days. Funds can also be moved back to your chequing or savings accounts with the exact same steps.

Which Other Benefits and Products Are Available?

Wealthsimple Cash – This is alternative to Interac e-transfers which allows one to quickly and simply transfer money to friends and family in Canada.

Wealthsimple Tax – Everything you require to get ready for this tax year and submit your tax return online for free. It’s advertised to be simple, accurate and always totally free tax return filing.

Wealthsimple Spend – A combination pre paid visa and savings product that lets one to recieve 1% cashback on all your spending, and also get a competitive 1.5% interest rate on savings.

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

Each of the above products, including Wealthsimple Trade can be found on the mobile app and at the site with your Wealthsimple login.

How Can I Begin Using Wealthsimple Trade?

Click here to create a Wealthsimple Trade account. For an exclusive signup bonus offer to our audience you will get the equivalent cash value of a Canadian stock valued at up to $4,500 CAD when you fund your account.

But What if I Still Have Additional Questions Concerning What Is Wealthsimple Trade?

If this blog post didn’t given you the answers to each of your questions, and you’re searching for further specific facts relating to Wealthsimple Trade Margin, check out the Wealthsimple website to find answers to every one of your questions.