Wealthsimple Trade Tfsa Reddit: Complete Guide

What is Wealthsimple?

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

A online financial services business founded in Autumn twenty fourteen originally as a robo advisor trading platform called Wealthsimple Invest, it has improved substantially over the previous 8 years to also feature Wealthsimple Trade, a zero fee discount brokerage service.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade lets investors to trade single stocks and ETFs without having to pay fees. The exception is when trading securities which are listed in US Dollars. In which case, they will charge a nominal currency conversion fee when buying and selling. But, past us are the days of paying more than $7 per trade with discount brokerages as was the norm only a few years ago.

How Much Money Will I Need to Get Started With Wealthsimple Trade?

Wealthsimple is awesome such that they allow Canadians to make a minimum deposit of only $1. Many alternative banks and discount brokerages have large minimum deposit amounts of 1K-5K. This makes it difficult for the normal investor to start. With Wealthsimple Trade, you don’t need to be wealthy to get started with trading stocks and ETFs.

So Does Wealthsimple Trade Offer TFSA Accounts?

It does. Wealthsimple Trade offers both CRA registered and non-CRA-registered account types. One are free to select both RRSP and TFSA account types during the setup phase. 

Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade offers a well designed mobile app available on both iOS and Google Play. The mobile app makes the enrollment steps and also trading of stocks and ETFs truly easy.

Is Wealthsimple Trade Legit?

. Wealthsimple Trade is legit. Wealthsimple reports in excess of 15 billion Canadian in Assets Under Management (AUM). These folks have been operating for more than 7 years and right now employs roughly 600 Canadians. The majority owner is the public Canadian corporation Power Corp of Canada. Weapthsimple Trade is the first no-fee digital brokerage operating in Canada.

How Can I Fund a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it so straight forward to add funds to a new account. Simply connect the app to a chequing or savings account with your Trade account, then add funds to your account in only a couple of steps. Deposits from banks to Wealthsimple normally take just a couple of days. Funds can the same way can be moved to a chequing or savings account through the exact same method.

Which Other Features and Products Are Available?

Wealthsimple Cash – An alternative to E-Transfers that allow one to quickly and efficiently transfer cash to friends and family in Canada.

Wealthsimple Tax – Everything you require to get ready for this tax year and submit your taxes online free. It’s pitched to be easy, accurate and always totally free tax filing.

Wealthsimple Spend – A hybrid pre paid debit card and savings product that lets one to recieve 1% cashback on your everyday spending, and also earn a competitive 1.5% interest on savings.

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

Each of the mentioned products, including Wealthsimple Trade can be accessed on the mobile app or on the site with your Wealthsimple login.

So How Should I Start Using Wealthsimple Trade?

Click here to create a Wealthsimple Trade account. As a special signup bonus offer to our readers you’ll receive the equivalent cash value of a random share valued at $25 up to $4,500 CAD once you deposit to your account.

What if I Still Have Additional Questions Concerning How Much Is Wealthsimple Worth?

If this article didn’t given you the answers to all of your questions, and you’re browsing for additional information relating to Wealthsimple Trade Tfsa Reddit, check out the Wealthsimple website to get answers to each your questions.