Wealthsimple Trade Withdrawal: Complete Guide

What is Wealthsimple?

Wealthsimple is an easy to use Canadian web based investing, stocks plus crypto trading platform that distinguishes itself from other apps by charging absolutely no fees. 

A Toronto, Ontario based online financial services company founded in the Fall twenty fourteen originally as a robo advisor algorithmic automated trading platform named Wealthsimple Invest, it has grown significantly over the last eight years to also include Wealthsimple Trade, a zero fee discount brokerage platform.

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade allows Canadian consumers to trade stand alone stocks and ETFs without paying any fees. The exception is when you’re trading stocks and ETFs which are listed in USD currency. In which case, they will charge a nominal currency conversion fee both when buying and selling. But, behind us are the times of paying Upwards of $7 per trade with online discount brokerages as was expected only a couple years ago.

Exactly How Much Money do I Need to Have in Order to Start Investing on Wealthsimple Trade?

Wealthsimple is special such that they will allow investors to make a minimum deposit of just $1. Many traditional banks and discount brokerages have sizeable minimum deposit amounts of 1k-5K. This makes it difficult for the normal new investor to get started. With Wealthsimple Trade, one doesn’t need to already be wealthy to get started with trading stocks and ETFs.

So Does Wealthsimple Trade Offer TFSA Accounts?

Of course. Wealthsimple Trade has available CRA registered and non-registered accounts. One can select between both RRSP and TFSA accounts in the setup process. 

So Does Wealthsimple Trade Have a Mobile Application?

Yes, Wealthsimple Trade has a convenient mobile app that is available to download on Apple and also Android. The mobile app makes the registration process and the trading of stocks and ETFs easy.

But Is Wealthsimple Trade Safe?

Yes. Wealthsimple Trade is trustworthy. Wealthsimple reports more than 15 billion Canadian of Assets Under Management (AUM). These folks have been in business for more than 7 years and right now employs more than 600 Canadians. The majority shareholder is the respected publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade was the very first no-fees online brokerage to operate in Canada.

How Does One Add Money to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it very easy to fund your account. Just connect a chequing or savings account with your Trade account, and then fund your account in simply a couple of steps. Deposits from financial institutions to Wealthsimple usually take a couple of days. Funds can just as easily be withdrawn a chequing or savings account with the same process.

What Other Benefits and Products Are Available?

Wealthsimple Cash – An equivalent to Interac e-transfers that allow one to quickly and simply send money to friends and family in Canada.

Wealthsimple Tax – Everything you require to get ready for this tax season and file your taxes online for free. It’s advertised as easy, accurate and always free income tax filing.

Wealthsimple Spend – A hybrid prepaid visa and savings product which lets one to get 1% cashback on all your purchases, and also earn a very competitive 1.5% interest rate on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance platform that includes a bunch of different online courses on topics like saving, investing, crypto, real estate and more. 

Every one of the mentioned products, along with Wealthsimple Trade may be found on the mobile app or at the website with your Wealthsimple login.

But How do I Start Using Wealthsimple Trade?

Click here to setup a Wealthsimple Trade account. For a special registration bonus offer for our readers you will get the cash value of a random share worth up to $4,500 CAD once you deposit to your account.

But What if I Still Have Additional Questions Concerning Wealthsimple 80/20?

If this review didn’t given you the answers to all of your questions, and you’re looking for further facts about Wealthsimple Trade Withdrawal, go to the Wealthsimple website to find answers to every one of your questions.