Tfsa Wealthsimple Trade

What Exactly is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian digital Financial, stock and crypto trading web app that sets itself apart from other apps by charging absolutely no fees. 

A Toronto, Ontario based online financial services business founded in Fall of 2014 originally as a robo advisor trading platform named Wealthsimple Invest, it has grown considerably over the previous eight years to include Wealthsimple Trade, a zero fee discount brokerage platform.

Does Wealthsimple Trade Charge Fees?

Wealthsimple Trade lets investors to trade both individual stocks and also ETFs without paying any fees. The exception is when you’re trading ETFs and stocks that are displayed in US Dollars. In which case, they do charge a currency conversion fee both when buying and selling. But, behind us are the days of paying $7-12 per trade with discount brokerages as was the case a couple years ago.

Exactly How Much in Funds do I Need to Start on Wealthsimple Trade?

Wealthsimple is awesome such that they will allow Canadians to make a minimum deposit of only $1. The majority of traditional banks and brokerages have quite large min deposit amounts of 1K-5K. This makes it tough for the typical investor to start investing. With Wealthsimple Trade, you don’t have to be wealthy to get started with trading stocks and ETFs.

So Does Wealthsimple Trade Offer RRSP Accounts?

They do. Wealthsimple Trade offers CRA registered and non-CRA-registered accounts. One are free to choose between both RRSP and TFSA accounts in the setup phase. 

Does Wealthsimple Trade Have a Mobile Application?

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

So Is Wealthsimple Trade Safe?

Yes. Wealthsimple Trade is legit. Wealthsimple has over 15 billion Canadian in Assets Under Management . This company has been in business for more than 7 years and right now employs more than 600 folks. The main owner is the large public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fee online brokerage operating in Canada.

But How Does One Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it quite easy to add money to your account. Just connect to a chequing or savings account with your Trade account, and then fund your account in only a few clicks. Deposits from financial institutions to Wealthsimple normally take only a couple of days. Funds can the same way can be moved to a chequing or savings accounts through the same method.

Which Additional Features and Products Are Offered by Wealthsimple?

Wealthsimple Cash – An alternative to e-transfers which allow you to quickly and simply transfer money to friends and family in Canada.

Wealthsimple Tax – Everything you need to prepare for this tax year and file your taxes online free. It’s advertised as easy, accurate and always totally free income tax filing.

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

Personal Finance 101 – Wealthsimple’s free personal finance platform that includes a ton of different courses on different topics such as saving, investing, crypto, home buying and much more. 

Each of the mentioned features, including Wealthsimple Trade can be accessed in the mobile app or from the site with one login.

So How Can I Begin Using Wealthsimple Trade?

Click here to signup for a new Wealthsimple Trade account. As a special registration bonus offer for our readers you’ll get the cash value of a random stock valued at up to $4,500 Canadian as soon as you add funds to your account.

So What if I Still Have Additional Questions About Tfsa Wealthsimple Trade?

If this review still hasn’t given you the answers to all of your questions, and you’re still searching for further specific info about Tfsa Wealthsimple Trade, go to the Wealthsimple website to find answers to all your questions.