Wealthsimple Trade Not Working: Complete Guide

What Exactly is Wealthsimple?

Wealthsimple is a simple to use Canadian digital Financial, securities plus crypto trading app that sets itself apart from similar apps by charging no fees. 

A Toronto, Ontario based online financial services business founded in the Fall 2014 exclusively as a robo advisor automated trading app named Wealthsimple Invest, it has evolved significantly over the last 8 years to also feature Wealthsimple Trade, a zero fees discount brokerage app.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade lets consumers to trade both individual stocks and also ETFs without needing to pay any fees. The exception is when you’re trading stocks which are listed in USD currency. In this case, they will charge a currency conversion fee both when buying and selling. But, past us are the times of paying Upwards of $7 per trade with digital discount brokerages as was normal a few years ago.

How Much in Funds Will I Need in Order to Begin Investing on Wealthsimple Trade?

Wealthsimple is special such that they will allow Canadian investors to make a minimum deposit of just $1. Many traditional banks and discount brokerages have quite large min deposit amounts of $1000-$5,000. This makes it impossible for the normal investor to get started. With Wealthsimple Trade, you won’t need to be wealthy to start trading stocks and ETFs.

But Does Wealthsimple Trade Offer Registered Accounts?

They do. Wealthsimple Trade has both registered and non-CRA-registered accounts. You can select between both RRSP and TFSA account types in the setup phase. 

So Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade offers a well designed mobile app available on iOS and also Android. The mobile app makes the registration steps and also the trading of stocks and ETFs very painless.

Is Wealthsimple Trade Secure?

Of course. Wealthsimple Trade is legit. Wealthsimple reports more than 15 billion Canadian of Assets Under Management . These folks have been operating for more than 7 years and also at this time employs about 600 Canadians. The majority owner is the large public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the first no-fees online discount brokerage to operate in Canada.

So How Do I Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it very straight forward to add funds to your new account. Simply connect to a chequing or savings account with your Trade account, and then fund your account in only a few steps. Deposits from financial institutions to Wealthsimple normally take only a couple of days. Funds can just as easily be moved back to your chequing or savings accounts with the same method.

What Additional Features and Products Are Offered by Wealthsimple?

Wealthsimple Cash – This is equivalent to Interac e-transfers that allow anyone to quickly and efficiently transfer money to friends and family in Canada.

Wealthsimple Tax – Everything you need to get ready for this tax season and file your tax return online for free. It’s pitched as easy, accurate and always totally free income tax filing.

Wealthsimple Spend – A combination pre paid debit card and savings product which lets one to recieve 1% cashback on your everyday purchases, and also get a competitive 1.5% interest rate on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which offers a bunch of different courses on saving, investments, crypto, home buying and more. 

Every one of the mentioned products, along with Wealthsimple Trade can be accessed within the app or on their website with a single login.

So How Should I Get Started With Wealthsimple Trade?

Click here to register for a new Wealthsimple Trade account. For a special registration bonus offer to our readers you will receive the equivalent cash value of a share valued at up to $4,500 CAD as soon as you fund your account.

So What if I Still Have Questions Concerning Xeqt Wealthsimple?

If this article didn’t answered each of your questions, and you’re still looking for additional specific answers relating to Wealthsimple Trade Not Working, check out the Wealthsimple website to find answers to all your questions.