Does Wealthsimple Trade Have Fees

What Exactly is Wealthsimple?

Wealthsimple is a simple to use Canadian digital Financial, stock plus crypto trading platform that differentiates itself from the competition by charging no fees. 

A online financial services business launched in the Autumn of twenty fourteen originally as a robo advisor algorithmic automated trading app named Wealthsimple Invest, it has grown significantly over the past eight years to include Wealthsimple Trade, a no fee discount brokerage service.

Does Wealthsimple Trade Charge Fees?

Wealthsimple Trade lets Canadian consumers trade both individual stocks and also ETFs without needing to pay any commissions. The exception is when trading stocks that are displayed in USD. In which case, they will charge a nominal currency conversion fee when buying and selling. However, behind us are the days of paying $7-12 per trade with discount brokerages as was the norm just a few years past.

Exactly How Much Cash do I Need to Start Investing on Wealthsimple Trade?

Wealthsimple is cool in that they allow investors to make a minimum deposit of only $1. Many traditional banks and brokerages have sizeable initial deposit amounts of 1K-5K. This makes it impossible for the every day investor to start investing. With Wealthsimple Trade, you don’t need to be wealthy to begin trading stocks and ETFs.

But Does Wealthsimple Trade Offer TFSA Accounts?

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

But Does Wealthsimple Trade Have a Mobile Application?

Yes, Wealthsimple Trade offers a easy to use mobile app available to download on IOS and also Google Play. The mobile app makes the enrollment phase and also the trading of stocks and ETFs truly painless.

But Is Wealthsimple Trade Legit?

Of course. Wealthsimple Trade is legit. Wealthsimple boasts more than 15 billion CAD of Assets Under Management . they’ve been doing business for more than 7 years and currently employs about 600 folks. The primary shareholder is the public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fees digital brokerage operating in Canada.

How Does One Add Funds to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it incredibly straight forward to deposit to your account. Just connect to a chequing or savings account to your Trade account, and then add money to your account in just a couple of steps. Deposits from financial institutions to Wealthsimple usually take just a couple of days. Funds can just as easily be withdrawn your chequing or savings account through the same process.

What Additional Benefits and Products Are Available?

Wealthsimple Cash – An alternative to e-Transfers that allow anyone to quickly and efficiently send cash to friends and family in Canada.

Wealthsimple Tax – Everything you require to prepare for tax season and submit your taxes online for free. It’s pitched to be simple, accurate and always totally free income tax filing.

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

Personal Finance 101 – This is Wealthsimple’s free personal finance platform which includes a ton of different courses on different topics such as saving, investments, crypto, real estate and much more. 

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

So How do I Get Started With Wealthsimple Trade?

Click here to signup for a new Wealthsimple Trade account. For a special signup bonus for our readers you will receive the cash value of a Canadian stock worth $25 up to $4,500 CAD as soon as you make an initial deposit to your account.

What if I Still Have Questions About Does Wealthsimple Trade Have Fees?

If this article hasn’t answered each of your questions, and you’re still looking for more specific info about Does Wealthsimple Trade Have Fees, visit the Wealthsimple site for answers to all your questions.