Wealthsimple Trade Support: Complete Guide

What Exactly is Wealthsimple?

Wealthsimple is a simple to use Canadian online Financial, stocks plus crypto trading app that differentiates itself from its competitors by charging absolutely no fees. 

A Toronto, Ontario based online financial services business founded in Autumn 2014 exclusively as a robo-advisor trading platform called Wealthsimple Invest, it has grown considerably over the last eight years to also feature Wealthsimple Trade, a zero fees discount brokerage app.

Does Wealthsimple Trade Charge Any Fees?

Wealthsimple Trade allows consumers trade individual stocks and ETFs without needing to pay fees. The exception is when trading ETFs and stocks that are denominated in US Dollars. In that case, they will charge a small currency conversion fee both when buying and selling. However, behind us are the days of paying $7-12 for each trade with discount brokerages as was common a few years ago.

Exactly How Much Money do I Need to Start Investing on Wealthsimple Trade?

Wealthsimple is awesome in that they will allow Canadians to make a minimum deposit of just $1. Many traditional banks and discount brokerages have large initial deposit amounts of $1000-$5000. This makes it tough for the everyday investor to start investing. With Wealthsimple Trade, you don’t have to be wealthy to begin trading stocks and ETFs.

Does Wealthsimple Trade Have RRSP Accounts?

They do. Wealthsimple Trade has CRA registered and non-registered account types. One are able to choose between both RRSP and TFSA accounts during the setup phase. 

So Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade offers a convenient mobile app that is offered to download on both Apple and Android. The mobile app makes the signup steps and also the trading of stocks and ETFs simple.

So Is Wealthsimple Trade Trustworthy?

. Wealthsimple Trade is legit. Wealthsimple has more than 15 billion Canadian of Assets Under Management (AUM). This company has been in business for more than 7 years and also right now employs over 600 people. The main owner is the large public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fees digital discount brokerage operating in Canada.

How Can I Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it very straight forward to add money to your new account. Simply connect the app to a chequing or savings account to your Trade account, and fund your account in only a couple of clicks. Deposits from financial institutions to Wealthsimple normally take only a few days. Funds can the same way can be moved back to your chequing or savings accounts by the exact same method.

Which Other Benefits and Products Does Wealthsimple Offer?

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

Wealthsimple Tax – Everything you’ll require to prepare for this tax year and file your taxes online for free. It’s advertised as easy, accurate and always free income tax filing.

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

Personal Finance 101 – Wealthsimple’s free personal finance learning platform which includes a variety of different courses on different topics such as saving, investing, crypto, home buying and much more. 

All of the mentioned products, including Wealthsimple Trade may be found within the mobile app or at their website with one login.

But How Should I Start With Wealthsimple Trade?

Click here to setup a Wealthsimple Trade account. As an exclusive registration bonus offer to our readers you will receive the equivalent cash value of a Canadian 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 2021 Tax Return Wealthsimple?

If this article still hasn’t given you the answers to each of your questions, and you’re still browsing for further specific facts relating to Wealthsimple Trade Support, check out the Wealthsimple website to get answers to every one of your questions.