Wealthsimple Trade Short Selling: Complete Guide

What Exactly is Wealthsimple?

Wealthsimple is an easy to use Canadian online Financial, securities and crypto trading web app that differentiates itself from similar apps by charging absolutely no fees. 

A leading Canadian online financial services business launched in Autumn twenty fourteen originally as a robo-advisor algorithmic automated trading app called Wealthsimple Invest, it has evolved considerably over the past 8 years to also include Wealthsimple Trade, a zero fee discount brokerage app.

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade lets investors trade individual stocks and also ETFs without having to pay any commissions. The exception to this is when you’re trading securities that are listed in USD currency. In this case, they will charge a currency conversion fee when buying and selling. But, gone are the times of paying Upwards of $7 per trade with discount brokerages as was expected only a few years ago.

How Much Cash do I Need to Have in Order to Get Started on Wealthsimple Trade?

Wealthsimple is awesome in that they will allow Canadians to make a minimum deposit of only $1. Many traditional banks and brokerages have large initial deposit amounts of 1K-5k. This makes it hard for the normal new investor to start investing. With Wealthsimple Trade, you don’t have to already be wealthy to start trading stocks and ETFs.

Does Wealthsimple Trade Have Registered Accounts?

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

But Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade offers a modern mobile app that is available on both iOS and Android. The smartphone app makes the registration phase and also trading of stocks and ETFs simple.

But Is Wealthsimple Trade Safe?

Definitely. Wealthsimple Trade is secure. Wealthsimple reports more than 15 billion CAD of Assets Under Management . they’ve been expanding for more than 7 years and at this time employs more than 600 Canadians. The main shareholder is the respected public Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital brokerage to operate in Canada.

But How Can I Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it so easy to fund your new account. Simply connect the app to a chequing or savings account with your Trade account, and add money to your account in simply a couple of steps. Deposits from your bank to Wealthsimple usually take a couple of days. Funds can the same way can be moved to your chequing or savings account using the same steps.

Which Additional Features and Products Are Available?

Wealthsimple Cash – This is equivalent to E-Transfers which allows one to quickly and easily transfer money to friends and family in Canada.

Wealthsimple Tax – Everything you’ll need to prepare for tax season and submit your taxes online for free. It’s advertised to be easy, accurate and always totally free tax filing.

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

Personal Finance 101 – This is Wealthsimple’s free personal finance platform that offers a bunch of online courses on different topics such as saving, investing, crypto, mortgages and much more. 

Each of the listed features, including Wealthsimple Trade can be accessed within the mobile app or on their site with one login.

So How Can I Get Started Using Wealthsimple Trade?

Click here to signup for a new Wealthsimple Trade account. For a special registration bonus offer to our readers you will receive the cash value of a random Canadian stock valued at $25 up to $4,500 Canadian as soon as you fund your account.

What if I Still Have Questions About $25 Wealthsimple?

If this article still hasn’t given you the answers to all of your questions, and you’re browsing for additional specific facts about Wealthsimple Trade Short Selling, check out the Wealthsimple website for answers to each your questions.