Wealthsimple Trade New Features: Complete Guide

What is Wealthsimple?

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

A leading Canadian fintech business founded in Fall twenty fourteen originally as a robo-advisor automated trading platform named Wealthsimple Invest, it has evolved substantially over the previous 8 years to also include Wealthsimple Trade, a no fee discount brokerage platform.

Does Wealthsimple Trade Charge Its Users Fees?

Wealthsimple Trade lets Canadian investors trade single stocks and ETFs without having to pay any commissions. The exception is when trading stocks that are denominated in US Dollars. In this case, they charge a currency conversion fee when buying and selling. However, past us are the times of having to pay $7-12 per each trade with online discount brokerages as was expected a couple years ago.

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

Wealthsimple is awesome in that they allow investors to make a minimum deposit of only $1. The majority of traditional banks and brokerages have large initial deposit amounts of 1K-5K. This makes it tough for the everyday new investor to start. With Wealthsimple Trade, you don’t need to be wealthy to begin trading stocks and ETFs.

So Does Wealthsimple Trade Offer TFSA Accounts?

Of course. Wealthsimple Trade has available CRA registered and non-CRA-registered accounts. You are free to choose both RRSP and TFSA account types in the setup process. 

But Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade has a convenient mobile app offered to download on iOS and also Google Play. The mobile app makes the signup steps and trading of stocks and ETFs a breeze.

Is Wealthsimple Trade Legit?

For sure. Wealthsimple Trade is trustworthy. Wealthsimple has more than 15 billion CAD of Assets Under Management (AUM). They have been in business for more than 7 years and also currently employs roughly 600 Canadians. The primary shareholder is the large publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital brokerage operating in Canada.

How Do I Add Funds to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it straight forward to deposit to an account. Just connect the app to a chequing or savings account with your Trade account, and add funds to your account in simply a few steps. Deposits from financial institutions to Wealthsimple usually take only a couple of days. Funds can just as easily be moved to a chequing or savings account by using the same method.

Which Additional Benefits and Products Does Wealthsimple Offer?

Wealthsimple Cash – An equivalent to e-Transfers that allow one to quickly and simply transfer money to friends and family in Canada.

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

Wealthsimple Spend – A hybrid pre paid debit card and savings account which allows you to recieve 1% cashback on your purchases, as well as get a competitive 1.5% interest rate on savings.

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

All of the mentioned products, along with Wealthsimple Trade may be accessed inside the app or on their site with one login.

So How do I Start Using Wealthsimple Trade?

Click here to create a new Wealthsimple Trade account. As a special registration bonus for our readers you’ll get the cash value of a stock valued at $25 up to $4,500 CAD when you make an initial deposit to your account.

But What if I Still Have Questions About Buy Xrp Wealthsimple?

If this blog post didn’t answered all of your questions, and you’re browsing for additional information about Wealthsimple Trade New Features, visit the Wealthsimple website to get answers to every one of your questions.