Wealthsimple Trade Review Canada: Complete Guide

What is Wealthsimple?

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

A leading Canadian fintech company launched in the Autumn of twenty fourteen exclusively as a robo-advisor algorithmic automated trading platform named Wealthsimple Invest, it has changed significantly over the last 8 years to also include Wealthsimple Trade, a no fees discount brokerage service.

Does Wealthsimple Trade Charge Any Fees?

Wealthsimple Trade allows investors to trade both single stocks and ETFs without paying fees. The exception to this is when you’re trading ETFs and stocks which are denominated in US Dollars. In this case, they will charge a small currency conversion fee when buying and selling. But, gone are the times of having to pay $7-12 per trade with discount brokerages as was the norm just a couple years ago.

How Much Cash do 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 only $1. The majority of alternative banks and brokerages have large initial deposit amounts of 1K-5K. This makes it hard for the normal new investor to get started. With Wealthsimple Trade, you won’t have to be wealthy to get started with trading stocks and ETFs.

But Does Wealthsimple Trade Have TFSA Accounts?

Yes. Wealthsimple Trade has registered and non-registered account types. One may select both RRSP and TFSA accounts in the setup phase. 

But Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade has a easy to use mobile app available on both IOS and Android. The app makes the signup process and also trading of stocks and ETFs super painless.

Is Wealthsimple Trade Trustworthy?

For sure. Wealthsimple Trade is secure. Wealthsimple has more than 15 billion Canadian of Assets Under Management (AUM). they’ve been expanding for more than 7 years and also at this time employs roughly 600 people. The primary shareholder is the respected public Canadian corporation Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital discount brokerage operating in Canada.

So How Do I Fund a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it so easy to fund your account. Just connect the app to a chequing or savings account to your Trade account, and then add funds to your account in just a couple of steps. Deposits from banks to Wealthsimple usually take a couple of days. Funds can the same way can be withdrawn a chequing or savings account through the exact same process.

Which Additional Features and Products Does Wealthsimple Offer?

Wealthsimple Cash – An alternative to Interac E-transfers that allow one to quickly and efficiently send money to friends and family in Canada.

Wealthsimple Tax – Everything you need to prepare for this tax year and submit your taxes online free. It’s advertised as simple, accurate and always totally free income tax filing.

Wealthsimple Spend – A hybrid pre paid debit card and savings account which allows one to earn 1% cashback on your purchases, as well as earn a competitive 1.5% interest on savings.

Personal Finance 101 – Wealthsimple’s free personal finance learning platform that offers a variety of online courses on topics like saving, investing, crypto, mortgages and more. 

Each of the mentioned features, including Wealthsimple Trade may be accessed in the mobile app or at the site with one login.

But How Can I Get Started With Wealthsimple Trade?

Click here to register for a Wealthsimple Trade account. As an exclusive signup bonus to our readers you will get the equivalent cash value of a random share valued at up to $4,500 Canadian once you fund your account.

But What if I Still Have Additional Questions About Wealthsimple Betterment?

If this review hasn’t given you the answers to all of your questions, and you’re still searching for more facts relating to Wealthsimple Trade Review Canada, check out the Wealthsimple site for answers to each your questions.