Wealthsimple Trade Move Money From Personal To Tfsa: Complete Guide

What Exactly is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian digital investing, stock plus crypto trading app that distinguishes itself from the competition by charging no fees. 

A leading Canadian fintech business launched in the Autumn 2014 exclusively as a robo-advisor algorithmic trading app called Wealthsimple Invest, it has improved significantly over the past eight years to include Wealthsimple Trade, a no fees discount brokerage service.

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade lets Canadian investors to trade stand alone stocks and also ETFs without paying any commissions. The exception to this is when trading ETFs and stocks which are denominated in US Dollars. In that case, they do 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 discount brokerages as was expected a couple years past.

How Much in Funds Will I Need to Have in Order to Start Investing With Wealthsimple Trade?

Wealthsimple is awesome in that they will allow Canadian investors to make a minimum deposit of just $1. Most alternative banks and discount brokerages have large minimum deposit amounts of 1K-5K. This makes it difficult for the everyday new investor to get started. With Wealthsimple Trade, you won’t need to be wealthy to start trading stocks and ETFs.

Does Wealthsimple Trade Offer Registered Accounts?

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

But Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade offers a easy to use mobile app offered on IOS and also Android. The smartphone app makes the signup steps and the trading of stocks and ETFs very simple.

So Is Wealthsimple Trade Legit?

For sure. Wealthsimple Trade is secure. Wealthsimple reports more than 15 billion CAD of Assets Under Management . This company has been operating for more than 7 years and also right now employs more than 600 folks. The primary shareholder is the publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fee online discount brokerage operating in Canada.

So How Does One Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it simple to fund a new account. Simply connect to a chequing or savings account with your Trade account, and then fund your account in only a couple of steps. Deposits from your bank to Wealthsimple usually take just a few days. Funds can also be moved back to your chequing or savings accounts through the same process.

Which Additional Features and Products Does Wealthsimple Offer?

Wealthsimple Cash – This is equivalent to Interac E-transfers which allow anyone to quickly and simply transfer money to friends and family in Canada.

Wealthsimple Tax – Everything you’ll need to prepare for this tax year and file your taxes online free. It’s described to be simple, accurate and always totally free tax filing.

Wealthsimple Spend – A hybrid prepaid debit card and savings product which allows one to recieve 1% cashback on your everyday spending, and also get a very competitive 1.5% interest rate on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that includes a bunch of different online courses on topics like saving, investments, crypto, real estate and more. 

Every one of the above products, including Wealthsimple Trade can be found inside the app or from the website with a single login.

But How do I Start Using Wealthsimple Trade?

Click here to signup for your Wealthsimple Trade account. As a special registration bonus offer to our audience you’ll receive the cash value of a random stock worth up to $4,500 CAD once you fund your account.

What if I Still Have Additional Questions Concerning What Is A Tfsa Wealthsimple?

If this blog post hasn’t answered each of your questions, and you’re searching for additional information relating to Wealthsimple Trade Move Money From Personal To Tfsa, go to the Wealthsimple site for answers to each your questions.