Wealthsimple Trade Tfsa: Complete Guide

What Exactly is Wealthsimple?

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

A Toronto, Ontario based online financial services business launched in the Autumn twenty fourteen originally as a robo advisor automated trading app called Wealthsimple Invest, it has improved significantly over the last eight years to include Wealthsimple Trade, a zero fees discount brokerage platform.

Does Wealthsimple Trade Charge Its Users Fees?

Wealthsimple Trade allows Canadian consumers trade single stocks and ETFs without having to pay commissions. The exception is when you’re trading ETFs and stocks that are denominated in USD currency. In that case, they charge a small currency conversion fee both when buying and selling. However, past us are the days of paying Upwards of $7 per trade with digital discount brokerages as was the case just a couple years past.

How Much Money Will I Need in Order to Begin Investing With Wealthsimple Trade?

Wealthsimple is special in that they will allow investors to make a minimum deposit of just $1. Many alternative banks and brokerages have quite large min deposit amounts of $1000-$5000. This makes it difficult for the normal investor to start. With Wealthsimple Trade, one doesn’t need to already be wealthy to get started with trading stocks and ETFs.

But Does Wealthsimple Trade Offer Registered Accounts?

Of course. Wealthsimple Trade has available both registered and non-registered accounts. You can choose between both RRSP and TFSA accounts in the setup wizard. 

So Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade has a well designed mobile app available to download on Apple and Google Play. The mobile app makes the enrollment steps and the trading of stocks and ETFs easy.

But Is Wealthsimple Trade Safe?

For sure. Wealthsimple Trade is trustworthy. Wealthsimple boasts over 15 billion CAD of Assets Under Management . they’ve been in business for more than 7 years and employs roughly 600 Canadians. The controlling owner is the admired publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fees digital brokerage operating in Canada.

How Does One Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it straight forward to fund a new account. Just connect a chequing or savings account to your Trade account, and then add funds to your account in simply a few clicks. Deposits from banks to Wealthsimple normally take only a few days. Funds can also be moved to your chequing or savings accounts using the same process.

What Other Benefits and Products Are Available?

Wealthsimple Cash – An alternative to E-Transfers which allows one to quickly and efficiently send cash to friends and family in Canada.

Wealthsimple Tax – Everything you need to get ready for tax season and submit your tax return online free. It’s described to be easy, accurate and always free income tax filing.

Wealthsimple Spend – A combination pre paid debit card and savings product which lets you to recieve 1% cashback on 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 learning platform which offers a ton of online courses on saving, investments, crypto, real estate and much more. 

All of the listed features, along with Wealthsimple Trade can be accessed in the app and at their site with your Wealthsimple login.

But How Can I Start Using Wealthsimple Trade?

Click here to signup for your Wealthsimple Trade account. For a special registration bonus offer to our audience you will receive the cash value of a share worth up to $4,500 Canadian once you fund your account.

So What if I Still Have Questions Concerning 3 Business Day Hold Wealthsimple?

If this article still hasn’t given you the answers to each of your questions, and you’re looking for further info about Wealthsimple Trade Tfsa, go to the Wealthsimple site to find answers to every one of your questions.