When You Sell On Wealthsimple Trade: Complete Guide

What Exactly is Wealthsimple?

Wealthsimple is a simple to use Canadian web based investing, stocks plus crypto trading app that distinguishes itself from similar apps by charging no fees. 

A Toronto, Ontario based online financial services business launched in the Autumn twenty fourteen exclusively as a robo-advisor algorithmic automated trading platform named Wealthsimple Invest, it has grown substantially over the previous eight years to include Wealthsimple Trade, a zero fee discount brokerage app.

Does Wealthsimple Trade Charge Any Fees?

Wealthsimple Trade allows consumers to trade stand alone stocks and also ETFs without needing to pay any commissions. The exception to this is when you’re trading stocks and ETFs that are displayed in USD currency. In this case, they charge a nominal currency conversion fee both when buying and selling. But, behind us are the times of paying more than $7 for each trade with digital discount brokerages as was common just a few years ago.

How Much Cash do I Need to Have in Order to Start With Wealthsimple Trade?

Wealthsimple is cool in that they allow Canadian investors to make a minimum deposit of only $1. Most traditional banks and discount brokerages have large initial deposit amounts of 1K-$5000. This makes it tough for the every day investor to start. With Wealthsimple Trade, one doesn’t have to be wealthy to get started with trading stocks and ETFs.

So Does Wealthsimple Trade Have Registered Accounts?

It does. Wealthsimple Trade has CRA registered and non-registered accounts. One are free to choose between both RRSP and TFSA account types during the setup wizard. 

So Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade offers a easy to use mobile app that is available on Apple and also Android. The mobile app makes the signup phase and trading of stocks and ETFs simple.

So Is Wealthsimple Trade Legit?

. Wealthsimple Trade is safe. Wealthsimple boasts over 15 billion Canadian of Assets Under Management . They have been operating for more than 7 years and also employs more than 600 people. The majority owner is the admired public Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fees online brokerage to operate in Canada.

How Does One Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it quite easy to fund an account. Simply connect to a chequing or savings account to your Trade account, and add money to your account in only a few steps. Deposits from financial institutions to Wealthsimple typically take only a few days. Funds can the same way can be withdrawn a chequing or savings accounts through the same process.

What Additional Features and Products Are Offered by Wealthsimple?

Wealthsimple Cash – This is equivalent to Interac E-transfers that allows anyone to quickly and easily transfer cash 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 described to be simple, accurate and always free income tax filing.

Wealthsimple Spend – A combination prepaid visa and savings account that lets you to recieve 1% cashback on all your everyday spending, as well as earn a very competitive 1.5% interest rate on savings.

Personal Finance 101 – Wealthsimple’s free personal finance learning platform that includes a variety of different online courses on saving, investing, crypto, mortgages and more. 

Every one of the listed products, along with Wealthsimple Trade may be accessed on the mobile app or at their site with one login.

But How do I Start Using Wealthsimple Trade?

Click here to signup for your Wealthsimple Trade account. For an exclusive registration bonus offer for our audience you’ll get the cash value of a Canadian stock valued at up to $4,500 CAD as soon as you fund your account.

But What if I Still Have Questions About Wealthsimple Masterclass?

If this blog post hasn’t answered all of your questions, and you’re browsing for further specific info relating to When You Sell On Wealthsimple Trade, visit the Wealthsimple site to find answers to all your questions.