Wealthsimple Trade Us Stocks Reddit: Complete Guide

What Exactly is Wealthsimple?

Wealthsimple is an easy to use Canadian digital investing, stock plus crypto trading web app that distinguishes itself from its competitors by charging no fees. 

A Toronto, Ontario based online financial services company launched in Autumn of twenty fourteen exclusively as a robo advisor algorithmic trading platform called Wealthsimple Invest, it has improved significantly over the previous 8 years to include Wealthsimple Trade, a no fees discount brokerage service.

Does Wealthsimple Trade Charge Fees?

Wealthsimple Trade allows consumers trade both single stocks and also ETFs without needing to pay any fees. The exception is when trading stocks which are listed in USD currency. In which case, they will charge a small currency conversion fee both when buying and selling. But, past us are the days of paying more than $7 per trade with digital discount brokerages as was common a couple years ago.

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

Wealthsimple is unique such that they allow investors to make a minimum deposit of only $1. Many traditional banks and discount brokerages have sizeable minimum deposit amounts of 1k-$5,000. This makes it hard for the everyday investor to start investing. With Wealthsimple Trade, you won’t need to already be wealthy to begin trading stocks and ETFs.

Does Wealthsimple Trade Offer Registered Accounts?

Of course. Wealthsimple Trade has both CRA registered and non-registered accounts. You are free to choose between both RRSP and TFSA account types in the setup phase. 

Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade offers a well designed mobile app available to download on both IOS and also Google Play. The mobile app makes the signup process and the trading of stocks and ETFs painless.

Is Wealthsimple Trade Safe?

Most definitely. Wealthsimple Trade is legit. Wealthsimple has over 15 billion Canadian in Assets Under Management . These folks have been doing business for more than 7 years and employs roughly 600 people. The primary shareholder is the public Canadian entity Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital brokerage to operate in Canada.

So How Does One Fund a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it very easy to fund a new account. Just connect the app to a chequing or savings account to your Trade account, then fund your account in only a couple of steps. Deposits from banks to Wealthsimple typically take just a few days. Funds can also be moved to your chequing or savings accounts by the exact same steps.

Which Other Benefits and Products Are Available?

Wealthsimple Cash – An equivalent to Interac e-transfers that allows anyone to quickly and efficiently transfer money to friends and family in Canada.

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

Wealthsimple Spend – A combination prepaid debit card and savings account which allows one to earn 1% cashback on all your everyday spending, as well as earn a very competitive 1.5% interest rate on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which includes a bunch of courses on saving, investing, crypto, home buying and more. 

Every one of the above features, along with Wealthsimple Trade may be found in the mobile app or at the website with your Wealthsimple login.

So How Can I Get Started Using Wealthsimple Trade?

Click here to register for a Wealthsimple Trade account. For a special signup bonus for our readers you’ll receive the cash value of a stock valued at up to $4,500 CAD when you fund your account.

But What if I Still Have Additional Questions Related to Wealthsimple $50 Bonus 2022?

If this blog post hasn’t answered all of your questions, and you’re still browsing for more specific info relating to Wealthsimple Trade Us Stocks Reddit, visit the Wealthsimple site to get answers to every one of your questions.