Wealthsimple Trade Transfer: Complete Guide

What Exactly is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian online Financial, stocks plus crypto trading platform that differentiates itself from the competition by charging no fees. 

A leading Canadian fintech business launched in Fall twenty fourteen exclusively as a robo advisor trading platform called Wealthsimple Invest, it has grown substantially over the past 8 years to feature Wealthsimple Trade, a no fee discount brokerage app.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade allows Canadian investors trade both stand alone stocks and also ETFs without needing to pay any commissions. The exception is when you’re trading securities which are listed in US Dollars. In that case, they charge a small currency conversion fee both when buying and selling. However, gone are the times of having to pay more than $7 per trade with digital discount brokerages as was the norm only a couple years past.

How Much in Funds Will I Need to Have to Begin Investing on Wealthsimple Trade?

Wealthsimple is special such that they will allow new customers to make a minimum deposit of only $1. Most traditional banks and discount brokerages have large min deposit amounts of 1K-$5000. This makes it impossible for the normal investor to start. With Wealthsimple Trade, you don’t need to already be wealthy to get started with trading stocks and ETFs.

Does Wealthsimple Trade Offer Registered Accounts?

Of course. Wealthsimple Trade offers both registered and non-registered accounts. You can select both RRSP and TFSA accounts during the setup process. 

But Does Wealthsimple Trade Have a Mobile Application?

Yes, Wealthsimple Trade offers a convenient mobile app available on Apple and also Google Play. The mobile app makes the signup steps and the trading of stocks and ETFs incredibly simple.

But Is Wealthsimple Trade Trustworthy?

. Wealthsimple Trade is safe. Wealthsimple reports more than 15 billion Canadian of Assets Under Management (AUM). they’ve been expanding for more than 7 years and also employs over 600 people. The controlling owner is the large public Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fees online discount brokerage to operate in Canada.

How Does One Add Funds to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it very simple to add funds to an account. Just connect a chequing or savings account to your Trade account, and then add funds to your account in just a couple of steps. Deposits from banks to Wealthsimple normally take only a couple of days. Funds can the same way can be moved back to your chequing or savings account using the exact same process.

Which Other Features and Products Does Wealthsimple Offer?

Wealthsimple Cash – An alternative to Interac E-Transfers which allow anyone to quickly and efficiently transfer money to friends and family in Canada.

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

Wealthsimple Spend – A combination pre paid debit card and savings account which lets one to get 1% cashback on your purchases, as well as earn a competitive 1.5% interest on savings.

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

Each of the listed products, including Wealthsimple Trade can be found on the app and from the site with your Wealthsimple login.

How Can I Get Started With Wealthsimple Trade?

Click here to signup for your Wealthsimple Trade account. For an exclusive signup bonus offer for our audience you’ll receive the equivalent cash value of a random share valued at up to $4,500 CAD as soon as you make an initial deposit to your account.

What if I Still Have Additional Questions About Wealthsimple 401k?

If this blog post didn’t given you the answers to all of your questions, and you’re searching for additional facts about Wealthsimple Trade Transfer, go to the Wealthsimple website to get answers to all your questions.