Wealthsimple Trade On Mint: Complete Guide

What is Wealthsimple?

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

A Toronto, Ontario based online financial services business founded in the Autumn of 2014 originally as a robo advisor algorithmic trading platform called Wealthsimple Invest, it has evolved substantially over the past eight years to also include Wealthsimple Trade, a no fees discount brokerage platform.

Does Wealthsimple Trade Charge Any Fees?

Wealthsimple Trade allows investors to trade single stocks and ETFs without needing to pay any commissions. The exception to this is when trading stocks which are listed in USD. In which case, they do charge a nominal currency conversion fee both when buying and selling. However, behind us are the days of paying Upwards of $7 for each trade with digital discount brokerages as was expected only a few years ago.

Exactly How Much Money do I Need to Have to Start Investing With Wealthsimple Trade?

Wealthsimple is unique in that they allow Canadians to make a minimum deposit of just $1. Many alternative banks and brokerages have sizeable minimum deposit amounts of 1K-5k. This makes it impossible for the normal new investor to start. With Wealthsimple Trade, you won’t have to already be wealthy to get started with trading stocks and ETFs.

So Does Wealthsimple Trade Have RRSP Accounts?

Of course. Wealthsimple Trade has available both registered and non-CRA-registered account types. One are free to select between both RRSP and TFSA accounts during the setup wizard. 

But Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade has a well designed mobile app that is offered to download on both Apple and also Google Play. The mobile app makes the signup process and also the trading of stocks and ETFs easy.

So Is Wealthsimple Trade Trustworthy?

Of course. Wealthsimple Trade is trustworthy. Wealthsimple boasts in excess of 15 billion CAD in Assets Under Management . They have been doing business for more than 7 years and also at this time employs over 600 Canadians. The controlling shareholder is the public Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fees online brokerage operating in Canada.

How Can I Fund a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it quite straight forward to fund your account. Simply connect to a chequing or savings account with your Trade account, and then add money to your account in just a couple of steps. Deposits from banks to Wealthsimple usually take a few days. Funds can also be moved to your chequing or savings accounts by using the exact same process.

Which Additional Benefits and Products Are Available?

Wealthsimple Cash – An equivalent to E-Transfers that allows one to quickly and efficiently 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 for free. It’s pitched to be simple, accurate and always free income tax filing.

Wealthsimple Spend – A hybrid prepaid visa and savings account that allows you to recieve 1% cashback on all your everyday spending, as well as get a very competitive 1.5% interest rate on savings.

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

Every one of the listed products, along with Wealthsimple Trade may be accessed inside the app or on the site with your Wealthsimple login.

So How do I Begin With Wealthsimple Trade?

Click here to setup a Wealthsimple Trade account. As an exclusive registration bonus for our readers you’ll receive the equivalent cash value of a Canadian stock valued at up to $4,500 CAD once you add funds to your account.

What if I Still Have Questions Concerning Yahoo Finance Wealthsimple?

If this article hasn’t answered each of your questions, and you’re looking for further specific information relating to Wealthsimple Trade On Mint, go to the Wealthsimple site for answers to all your questions.