Wealthsimple Trade Reddit Canada: Complete Guide

What is Wealthsimple?

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

A fintech business founded in the Autumn of twenty fourteen exclusively as a robo advisor trading app named Wealthsimple Invest, it has grown substantially over the previous eight years to also include Wealthsimple Trade, a no fees discount brokerage app.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade allows consumers to trade both single stocks and ETFs without needing to pay fees. The exception is when trading ETFs and stocks which are listed in USD. In this case, they charge a currency conversion fee when buying and selling. But, past us are the times of having to pay Upwards of $7 for each trade with discount brokerages as was expected just a few years ago.

Exactly How Much Cash do I Need to Have in Order to Start on Wealthsimple Trade?

Wealthsimple is cool such that they will allow new customers to make a minimum deposit of just $1. The majority of alternative banks and brokerages have large initial deposit amounts of $1000-$5000. This makes it hard for the common investor to start investing. With Wealthsimple Trade, one doesn’t have to already be wealthy to get started with trading stocks and ETFs.

So Does Wealthsimple Trade Have RRSP Accounts?

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

So Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade offers a easy to use mobile app available to download on both IOS and also Google Play. The mobile app makes the registration process and the trading of stocks and ETFs very simple.

So Is Wealthsimple Trade Safe?

Definitely. Wealthsimple Trade is safe. Wealthsimple boasts more than 15 billion CAD of Assets Under Management . This company has been doing business for more than 7 years and now employs more than 600 folks. The main shareholder is the large public Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fees digital discount brokerage to operate in Canada.

How Does One Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it incredibly easy to add funds to an account. Simply connect a chequing or savings account with your Trade account, and add funds to your account in simply a couple of clicks. Deposits from financial institutions to Wealthsimple usually take just a few days. Funds can the same way can be withdrawn your chequing or savings accounts by the exact same steps.

Which Additional Features and Products Does Wealthsimple Offer?

Wealthsimple Cash – This is alternative to Interac E-Transfers that allow anyone to quickly and simply send money to friends and family in Canada.

Wealthsimple Tax – Everything you need to get ready for tax season and file your taxes online for free. It’s described as simple, accurate and always free tax filing.

Wealthsimple Spend – A combination prepaid visa and savings account which allows one to recieve 1% cashback on all your purchases, as well as get a competitive 1.5% interest rate on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that offers a ton of courses on topics like saving, investing, crypto, mortgages and more. 

All of the above features, along with Wealthsimple Trade can be accessed on the mobile app or on their website with one login.

How do I Get Started Using Wealthsimple Trade?

Click here to create your Wealthsimple Trade account. As a special registration bonus to our readers you’ll get the equivalent cash value of a stock valued at up to $4,500 CAD once you add funds to your account.

So What if I Still Have Additional Questions Related to 1042-s Wealthsimple?

If this review didn’t given you the answers to each of your questions, and you’re still browsing for more answers about Wealthsimple Trade Reddit Canada, check out the Wealthsimple site to get answers to each your questions.