Wealthsimple Trade Transfer Out: Complete Guide

What is Wealthsimple?

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

A Toronto, Ontario based fintech business founded in the Autumn 2014 originally as a robo advisor trading app called Wealthsimple Invest, it has evolved substantially over the previous 8 years to also feature Wealthsimple Trade, a no fees discount brokerage app.

Does Wealthsimple Trade Charge Its Users Fees?

Wealthsimple Trade lets investors to trade both stand alone stocks and also ETFs without needing to pay any commissions. The exception is when trading stocks and ETFs that are displayed in USD. In this case, they will charge a nominal currency conversion fee both when buying and selling. But, behind us are the times of having to pay $7-12 for each trade with online discount brokerages as was expected only a few years past.

Exactly How Much Cash do I Need to Have in Order to Get Started on Wealthsimple Trade?

Wealthsimple is awesome such that they allow Canadians to make a minimum deposit of only $1. Many alternative banks and brokerages have quite large min deposit amounts of $1000-$5,000. This makes it hard for the normal new investor to start investing. With Wealthsimple Trade, one doesn’t have to already be wealthy to begin trading stocks and ETFs.

Does Wealthsimple Trade Offer TFSA Accounts?

They do. Wealthsimple Trade has CRA registered and non-registered account types. You can select both RRSP and TFSA account types in the setup phase. 

Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade offers a convenient mobile app available to download on both iOS and Android. The app makes the signup steps and also trading of stocks and ETFs super easy.

So Is Wealthsimple Trade Secure?

Of course. Wealthsimple Trade is safe. Wealthsimple reports in excess of 15 billion Canadian of Assets Under Management . They have been expanding for more than 7 years and right now employs about 600 people. The majority owner is the respected publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fees digital discount brokerage operating in Canada.

But How Can I Add Funds to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it very easy to add funds to an account. Just connect a chequing or savings account with your Trade account, then fund your account in simply a few clicks. Deposits from your bank to Wealthsimple usually take only a couple of days. Funds can also be withdrawn a chequing or savings account with the same process.

Which Additional Features and Products Are Available?

Wealthsimple Cash – This is alternative to Interac E-transfers that allow anyone to quickly and efficiently send money to friends and family in Canada.

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

Wealthsimple Spend – A combination pre paid debit card and savings product that allows one to earn 1% cashback on your everyday spending, as well as earn a competitive 1.5% interest on savings.

Personal Finance 101 – Wealthsimple’s free personal finance learning platform which includes a bunch of different courses on saving, investments, crypto, home buying and more. 

Every one of the listed products, including Wealthsimple Trade may be accessed within the app and from the website with a single login.

But How Can I Get Started Using Wealthsimple Trade?

Click here to signup for your Wealthsimple Trade account. As a special signup bonus to our audience you will receive the cash value of a random share worth $25 up to $4,500 CAD once you deposit to your account.

What if I Still Have Questions Concerning Wealthsimple 4x Reward?

If this blog post still hasn’t answered each of your questions, and you’re looking for further answers relating to Wealthsimple Trade Transfer Out, check out the Wealthsimple site for answers to every one of your questions.