Wealthsimple Trade Vs Td Direct Investing: Complete Guide

What Exactly is Wealthsimple?

Wealthsimple is a simple to use Canadian online Financial, stock and crypto trading platform that differentiates itself from its competitors by charging absolutely no fees. 

A Toronto, Ontario based online financial services business launched in the Fall twenty fourteen originally as a robo-advisor automated trading platform named Wealthsimple Invest, it has evolved considerably over the last 8 years to also feature Wealthsimple Trade, a no fee discount brokerage service.

Does Wealthsimple Trade Charge Any Fees?

Wealthsimple Trade allows Canadian investors trade individual stocks and also ETFs without having to pay any fees. The exception is when trading stocks and ETFs which are displayed in US Dollars. In that case, they charge a small currency conversion fee both when buying and selling. However, gone are the days of having to pay more than $7 for each trade with discount brokerages as was expected only a few years past.

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

Wealthsimple is special such that they will allow new customers to make a minimum deposit of only $1. The majority of alternative banks and brokerages have sizeable min deposit amounts of 1k-$5000. This makes it hard for the common investor to start. With Wealthsimple Trade, you don’t need to be wealthy to get started with trading stocks and ETFs.

But Does Wealthsimple Trade Offer TFSA Accounts?

It does. Wealthsimple Trade has available both registered and non-registered accounts. You may select between both RRSP and TFSA accounts in the setup phase. 

So Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade has a easy to use mobile app that is offered on iOS and Google Play. The smartphone app makes the signup process and also the trading of stocks and ETFs incredibly a breeze.

But Is Wealthsimple Trade Secure?

Yes. Wealthsimple Trade is legit. Wealthsimple reports in excess of 15 billion Canadian in Assets Under Management . This company has been operating for more than 7 years and at this time employs roughly 600 people. The controlling owner is the large public Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fee online brokerage operating in Canada.

So How Does One Add Money to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it easy to fund your new account. Simply connect the app to a chequing or savings account to your Trade account, and add funds to your account in simply a few steps. Deposits from financial institutions to Wealthsimple normally take only a couple of days. Funds can also be withdrawn a chequing or savings account with the same process.

What Additional Features and Products Does Wealthsimple Offer?

Wealthsimple Cash – An alternative to Interac e-transfers which allow one to quickly and simply send cash to friends and family in Canada.

Wealthsimple Tax – Everything you need to get ready for this tax season and submit your tax return online for free. It’s pitched to be simple, accurate and always totally free tax filing.

Wealthsimple Spend – A hybrid pre paid debit card and savings product which allows one to get 1% cashback on all your spending, and also earn a competitive 1.5% interest rate on savings.

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

Every one of the mentioned features, including Wealthsimple Trade can be accessed on the mobile app or on the site with one login.

How do I Start Using Wealthsimple Trade?

Click here to create your Wealthsimple Trade account. For a special registration bonus offer to our audience you will get the equivalent cash value of a stock worth up to $4,500 CAD once you deposit to your account.

So What if I Still Have Additional Questions Concerning Wealthsimple 750?

If this review hasn’t answered each of your questions, and you’re still searching for additional facts about Wealthsimple Trade Vs Td Direct Investing, go to the Wealthsimple site to get answers to each your questions.