Wealthsimple Trade Tax: Complete Guide

What is Wealthsimple?

Wealthsimple is an easy to use Canadian digital investing, securities and crypto trading platform that sets itself apart from its competitors by charging absolutely no fees. 

A online financial services company founded in Autumn of 2014 exclusively as a robo advisor automated trading platform named Wealthsimple Invest, it has changed considerably over the previous eight years to include Wealthsimple Trade, a zero fees discount brokerage app.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade lets investors trade individual stocks and also ETFs without paying any fees. The exception to this is when you’re trading ETFs and stocks that are displayed in USD currency. In this case, they do charge a nominal currency conversion fee when buying and selling. However, past us are the days of having to pay $7-12 per each trade with online discount brokerages as was the norm a couple years ago.

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

Wealthsimple is cool in that they allow Canadians to make a minimum deposit of only $1. Most traditional banks and brokerages have quite large min deposit amounts of 1k-5k. This makes it difficult for the common new investor to start investing. With Wealthsimple Trade, you don’t need to already be wealthy to begin trading stocks and ETFs.

Does Wealthsimple Trade Have TFSA Accounts?

It does. Wealthsimple Trade offers both registered and non-CRA-registered accounts. One may choose between both RRSP and TFSA account types during the setup phase. 

Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade has a convenient mobile app that is offered on both Apple and also Google Play. The smartphone app makes the signup phase and trading of stocks and ETFs very painless.

Is Wealthsimple Trade Safe?

Yes. Wealthsimple Trade is safe. Wealthsimple boasts in excess of 15 billion Canadian in Assets Under Management (AUM). they’ve been operating for more than 7 years and also employs about 600 folks. The primary owner is the respected public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fees digital discount brokerage to operate in Canada.

So How Do I Add Money to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it incredibly easy to add funds to an account. Just connect a chequing or savings account with your Trade account, and then fund your account in just a few clicks. Deposits from financial institutions to Wealthsimple normally take a few days. Funds can just as easily be moved to a chequing or savings accounts through the same process.

What Other Benefits and Products Does Wealthsimple Offer?

Wealthsimple Cash – This is alternative to Interac e-Transfers that allows you to quickly and efficiently transfer money to friends and family in Canada.

Wealthsimple Tax – Everything you require to prepare for tax year and file your tax return online for free. It’s described as simple, accurate and always totally free income tax filing.

Wealthsimple Spend – A hybrid prepaid debit card and savings account which allows one to recieve 1% cashback on all your purchases, and also earn a competitive 1.5% interest rate on savings.

Personal Finance 101 – Wealthsimple’s free personal finance education platform which offers a ton of different courses on topics like saving, investments, crypto, real estate and more. 

Every one of the listed features, along with Wealthsimple Trade can be accessed inside the mobile app and from the site with your Wealthsimple login.

How Should I Start With Wealthsimple Trade?

Click here to setup a new Wealthsimple Trade account. As a special registration bonus to our audience you will get the equivalent cash value of a random share valued at $25 up to $4,500 Canadian as soon as you fund your account.

But What if I Still Have Additional Questions Concerning Why Does Wealthsimple Take 3 Days?

If this article didn’t answered all of your questions, and you’re still searching for more specific information relating to Wealthsimple Trade Tax, check out the Wealthsimple site to find answers to each your questions.