Where Do Dividends Go Wealthsimple Trade: Complete Guide

What Exactly is Wealthsimple?

Wealthsimple is an easy to use Canadian web based investing, securities and crypto trading app that differentiates itself from its competitors by charging no fees. 

A online financial services company launched in Fall 2014 originally as a robo-advisor trading app called Wealthsimple Invest, it has improved considerably over the last 8 years to feature Wealthsimple Trade, a no fee discount brokerage service.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade lets investors to trade both single stocks and also ETFs without needing to pay commissions. The exception is when trading ETFs and stocks that are denominated in USD. In this case, they will charge a small currency conversion fee both when buying and selling. However, past us are the times of paying more than $7 for each trade with online discount brokerages as was normal only a couple years ago.

How Much in Funds Will I Need in Order to Start Investing on Wealthsimple Trade?

Wealthsimple is cool in that they allow Canadians to make a minimum deposit of just $1. Many traditional banks and brokerages have large minimum deposit amounts of $1,000-$5,000. This makes it hard for the common new investor to start investing. With Wealthsimple Trade, one doesn’t need to already be wealthy to get started with trading stocks and ETFs.

But Does Wealthsimple Trade Offer Registered Accounts?

Of course. Wealthsimple Trade has registered and non-CRA-registered accounts. One can choose both RRSP and TFSA accounts during the setup phase. 

Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade has a easy to use mobile app that is available on both Apple and Android. The mobile app makes the signup steps and trading of stocks and ETFs very painless.

But Is Wealthsimple Trade Trustworthy?

For sure. Wealthsimple Trade is safe. Wealthsimple reports in excess of 15 billion Canadian of Assets Under Management (AUM). These folks have been operating for more than 7 years and also currently employs roughly 600 folks. The main shareholder is the admired public Canadian company Power Corp of Canada. Weapthsimple Trade was the first no-fees online discount brokerage to operate in Canada.

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

The Wealthsimple Trade mobile app makes it so simple to fund your new account. Just connect to a chequing or savings account with your Trade account, and fund your account in simply a couple of steps. Deposits from financial institutions to Wealthsimple typically take just a couple of days. Funds can just as easily be moved to a chequing or savings accounts with the exact same method.

Which Additional Benefits and Products Does Wealthsimple Offer?

Wealthsimple Cash – An alternative to Interac E-Transfers that allow anyone to quickly and easily transfer cash to friends and family in Canada.

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

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

Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which offers a variety of online courses on saving, investments, crypto, mortgages and much more. 

Every one of the above products, along with Wealthsimple Trade may be accessed on the app or on the website with one login.

So How Can I Get Started Using Wealthsimple Trade?

Click here to signup for your Wealthsimple Trade account. As a special registration bonus to our readers you will get the equivalent cash value of a random stock valued at up to $4,500 Canadian when you deposit to your account.

What if I Still Have Additional Questions Concerning Wealthsimple Promo?

If this blog post still hasn’t answered all of your questions, and you’re searching for more answers about Where Do Dividends Go Wealthsimple Trade, go to the Wealthsimple site to get answers to all your questions.