Questrade Vs Wealthsimple Reddit 2021

What is Wealthsimple?

Wealthsimple is an easy to use Canadian online investing, stocks plus crypto trading web app that differentiates itself from similar apps by charging absolutely no fees. 

A fintech business founded in Autumn of 2014 originally as a robo-advisor automated trading platform named Wealthsimple Invest, it has changed considerably over the previous 8 years to also feature Wealthsimple Trade, a zero fees discount brokerage app.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade allows consumers to trade both individual stocks and also ETFs without having to pay any commissions. The exception to this is when trading stocks that are denominated in US Dollars. In this case, they do charge a currency conversion fee when buying and selling. But, gone are the times of paying more than $7 for each trade with online discount brokerages as was normal just a few years past.

Exactly How Much Money Will I Need in Order to Get Started on Wealthsimple Trade?

Wealthsimple is cool such that they allow Canadian investors to make a minimum deposit of just $1. Many alternative banks and brokerages have sizeable initial deposit amounts of 1K-$5000. This makes it impossible for the everyday investor to start. With Wealthsimple Trade, one doesn’t have to already be wealthy to start trading stocks and ETFs.

So Does Wealthsimple Trade Have RRSP Accounts?

Yes. Wealthsimple Trade has CRA registered and non-registered accounts. One may choose between both RRSP and TFSA accounts in the setup phase. 

Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade has a modern mobile app that is offered to download on both IOS and Google Play. The smartphone app makes the enrollment steps and also the trading of stocks and ETFs truly simple.

Is Wealthsimple Trade Trustworthy?

Yes. Wealthsimple Trade is secure. Wealthsimple reports in excess of 15 billion CAD in Assets Under Management . This company has been in business for more than 7 years and employs more than 600 Canadians. The majority owner is the admired public Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fees online discount brokerage operating in Canada.

So How Do I Add Funds to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it so easy to add funds to a new account. Just connect the app to a chequing or savings account with your Trade account, and add funds to your account in only a few clicks. Deposits from financial institutions to Wealthsimple typically take just a couple of days. Funds can also be withdrawn your chequing or savings accounts by the same steps.

What Other Features and Products Are Offered by Wealthsimple?

Wealthsimple Cash – This is equivalent to Interac E-transfers that allows anyone to quickly and simply transfer money to friends and family in Canada.

Wealthsimple Tax – Everything you require to prepare for this tax season and file your taxes online free. It’s pitched as simple, accurate and always free tax return filing.

Wealthsimple Spend – A combination prepaid debit card and savings product that lets one to earn 1% cashback on all your everyday spending, as well as get a very competitive 1.5% interest rate on savings.

Personal Finance 101 – Wealthsimple’s free personal finance learning platform that offers a ton of different courses on saving, investments, crypto, mortgages and more. 

Every one of the listed products, along with Wealthsimple Trade may be accessed inside the mobile app and from their website with one login.

But How do I Start With Wealthsimple Trade?

Click here to setup a Wealthsimple Trade account. For a special signup bonus for our readers you will get the cash value of a random share valued at up to $4,500 CAD as soon as you fund your account.

So What if I Still Have Questions Related to Questrade Vs Wealthsimple Reddit 2021?

If this article didn’t answered all of your questions, and you’re still looking for more specific info relating to Questrade Vs Wealthsimple Reddit 2021, go to the Wealthsimple site to find answers to each your questions.