Wealthsimple Trade Options: Complete Guide

What is Wealthsimple?

Wealthsimple is an easy to use Canadian digital Financial, securities and crypto trading platform that differentiates itself from the competition by charging absolutely no fees. 

A leading Canadian online financial services business launched in the Autumn twenty fourteen originally as a robo-advisor trading platform called Wealthsimple Invest, it has changed substantially over the previous eight years to also include Wealthsimple Trade, a no fees discount brokerage service.

Does Wealthsimple Trade Charge Any Fees?

Wealthsimple Trade lets Canadian consumers to trade individual stocks and ETFs without having to pay any commissions. The exception to this is when trading stocks that are displayed in USD. In that case, they will charge a small currency conversion fee both when buying and selling. However, gone are the days of having to pay Upwards of $7 per each trade with digital discount brokerages as was common just a couple years ago.

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

Wealthsimple is cool such that they will allow new customers to make a minimum deposit of just $1. Most traditional banks and discount brokerages have large minimum deposit amounts of $1000-5k. This makes it impossible for the everyday investor to get started. With Wealthsimple Trade, you won’t need to already be wealthy to start trading stocks and ETFs.

But Does Wealthsimple Trade Have TFSA Accounts?

Of course. Wealthsimple Trade offers CRA registered and non-registered accounts. You may select both RRSP and TFSA account types in the setup process. 

But Does Wealthsimple Trade Have a Mobile Application?

Yes, Wealthsimple Trade has a well designed mobile app offered to download on iOS and also Google Play. The app makes the signup process and the trading of stocks and ETFs super painless.

But Is Wealthsimple Trade Trustworthy?

Of course. Wealthsimple Trade is safe. Wealthsimple reports over 15 billion Canadian of Assets Under Management (AUM). they’ve been doing business for more than 7 years and at this time employs over 600 people. The primary owner is the admired publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade is the very first no-fees digital brokerage operating in Canada.

But How Do I Add Money to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it quite straight forward to add money to an account. Just connect the app to a chequing or savings account with your Trade account, and then fund your account in only a few clicks. Deposits from financial institutions to Wealthsimple usually take only a few days. Funds can just as easily be moved to your chequing or savings accounts with the exact same method.

Which Other Benefits and Products Are Available?

Wealthsimple Cash – This is equivalent to E-transfers which allows you to quickly and efficiently transfer money to friends and family in Canada.

Wealthsimple Tax – Everything you’ll need to prepare for tax year and submit your tax return online for free. It’s pitched to be easy, accurate and always free income tax filing.

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

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

Every one of the listed products, along with Wealthsimple Trade can be accessed on the app and on the site with one login.

So How do I Begin Using Wealthsimple Trade?

Click here to create your Wealthsimple Trade account. For an exclusive registration bonus for our audience you will get the cash value of a Canadian stock worth $25 up to $4,500 CAD when you make an initial deposit to your account.

So What if I Still Have Questions Concerning Young And Thrifty Wealthsimple?

If this blog post still hasn’t given you the answers to all of your questions, and you’re browsing for additional answers about Wealthsimple Trade Options, check out the Wealthsimple site to get answers to every one of your questions.