Wealthsimple Trade Online: Complete Guide

What Exactly is Wealthsimple?

Wealthsimple is an easy to use Canadian digital investing, stocks and crypto trading app that distinguishes itself from the competition by charging absolutely no fees. 

A leading Canadian fintech business founded in Fall of twenty fourteen exclusively as a robo advisor algorithmic trading app called Wealthsimple Invest, it has changed significantly over the previous eight years to feature Wealthsimple Trade, a no fees discount brokerage platform.

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade lets consumers trade single stocks and ETFs without needing to pay any fees. The exception to this is when trading stocks and ETFs which are denominated in USD currency. In which case, they charge a nominal currency conversion fee when buying and selling. But, past us are the times of having to pay $7-12 per each trade with online discount brokerages as was common just a couple years ago.

Exactly How Much Cash Will I Need to Have to Start With Wealthsimple Trade?

Wealthsimple is unique such that they allow Canadian investors to make a minimum deposit of only $1. Most alternative banks and discount brokerages have quite large min deposit amounts of $1000-$5,000. This makes it difficult for the everyday new investor to start. With Wealthsimple Trade, one doesn’t need to be wealthy to get started with trading stocks and ETFs.

But Does Wealthsimple Trade Have TFSA Accounts?

They do. Wealthsimple Trade has both registered and non-CRA-registered accounts. One can select between both RRSP and TFSA accounts in the setup process. 

But Does Wealthsimple Trade Have a Mobile Application?

Yes, Wealthsimple Trade has a convenient mobile app available on Apple and Android. The app makes the enrollment process and the trading of stocks and ETFs incredibly a breeze.

But Is Wealthsimple Trade Safe?

For sure. Wealthsimple Trade is trustworthy. Wealthsimple has more than 15 billion CAD in Assets Under Management (AUM). These folks have been expanding for more than 7 years and also now employs roughly 600 people. The main owner is the respected public Canadian entity Power Corp of Canada. Weapthsimple Trade was the very first no-fees online brokerage operating in Canada.

So How Do I Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it so easy to deposit to your account. Just connect a chequing or savings account with your Trade account, then fund your account in simply a couple of clicks. Deposits from financial institutions to Wealthsimple normally take only a few days. Funds can just as easily be moved back to a chequing or savings accounts by using the same method.

What Other Benefits and Products Does Wealthsimple Offer?

Wealthsimple Cash – An equivalent to Interac e-Transfers which allow one to quickly and easily transfer cash to friends and family in Canada.

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

Wealthsimple Spend – A hybrid pre paid visa and savings account which lets you to earn 1% cashback on your everyday purchases, and also get a competitive 1.5% interest on savings.

Personal Finance 101 – Wealthsimple’s free personal finance education platform that includes a ton of different online courses on saving, investments, crypto, mortgages and much more. 

All of the mentioned products, along with Wealthsimple Trade can be found on the app or at their website with a single login.

So How Can I Get Started Using Wealthsimple Trade?

Click here to signup for your Wealthsimple Trade account. For an exclusive registration bonus offer to our readers you’ll receive the equivalent cash value of a random Canadian stock valued at $25 up to $4,500 CAD once you fund your account.

What if I Still Have Additional Questions Concerning Ynab Wealthsimple?

If this blog post hasn’t answered each of your questions, and you’re looking for more specific info relating to Wealthsimple Trade Online, visit the Wealthsimple site for answers to all your questions.