Wealthsimple Trade Resp: Complete Guide

What is Wealthsimple?

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

A Toronto, Ontario based online financial services company founded in Autumn of 2014 originally as a robo-advisor automated trading platform called Wealthsimple Invest, it has grown significantly over the previous 8 years to include Wealthsimple Trade, a zero fees discount brokerage service.

Does Wealthsimple Trade Charge Its Users Fees?

Wealthsimple Trade lets Canadian investors to trade both single stocks and also ETFs without having to pay fees. The exception to this is when trading ETFs and stocks that are denominated in USD currency. In this case, they charge a nominal currency conversion fee both when buying and selling. However, behind us are the times of paying $7-12 for each trade with online discount brokerages as was the norm only a couple years past.

How Much in Funds Will I Need in Order to Start With Wealthsimple Trade?

Wealthsimple is awesome such that they will allow new customers to make a minimum deposit of just $1. Most alternative banks and discount brokerages have large minimum deposit amounts of 1K-$5000. This makes it hard for the typical new investor to start investing. With Wealthsimple Trade, one doesn’t have to already be wealthy to start trading stocks and ETFs.

Does Wealthsimple Trade Have RRSP Accounts?

It does. Wealthsimple Trade has available both CRA registered and non-registered account types. You are able to choose between both RRSP and TFSA account types in the setup wizard. 

So Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade has a convenient mobile app that is available to download on iOS and Google Play. The smartphone app makes the signup steps and also trading of stocks and ETFs super a breeze.

Is Wealthsimple Trade Legit?

Most definitely. Wealthsimple Trade is safe. Wealthsimple has in excess of 15 billion Canadian of Assets Under Management . They have been expanding for more than 7 years and also employs more than 600 people. The controlling owner is the large publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fees online brokerage to operate in Canada.

So How Does One Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it quite straight forward to deposit to a new account. Simply connect the app to a chequing or savings account with your Trade account, then fund your account in simply a couple of clicks. Deposits from your bank to Wealthsimple typically take only a few days. Funds can also be moved to your chequing or savings account by the same process.

Which Additional Benefits and Products Are Available?

Wealthsimple Cash – An alternative to e-Transfers which allows you to quickly and easily send cash to friends and family in Canada.

Wealthsimple Tax – Everything you require to prepare for tax season and file your tax return online for free. It’s pitched to be simple, accurate and always free income tax filing.

Wealthsimple Spend – A hybrid prepaid debit card and savings account that lets you to earn 1% cashback on your everyday 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 which offers a variety of online courses on saving, investments, crypto, mortgages and much more. 

All of the mentioned features, along with Wealthsimple Trade may be accessed in the app or from the site with one login.

How Should I Start With Wealthsimple Trade?

Click here to create your Wealthsimple Trade account. As a special registration bonus offer for our audience you will receive the equivalent cash value of a Canadian stock valued at $25 up to $4,500 Canadian once you make an initial deposit to your account.

But What if I Still Have Questions Related to 15 Minute Delay Wealthsimple Trade?

If this review didn’t answered all of your questions, and you’re searching for more specific information relating to Wealthsimple Trade Resp, visit the Wealthsimple website for answers to every one of your questions.