Wealthsimple Trading Company

What Exactly is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian digital investing, stocks plus crypto trading web app that differentiates itself from other apps by charging no fees. 

A leading Canadian online financial services business founded in Autumn twenty fourteen originally as a robo advisor automated trading app named Wealthsimple Invest, it has evolved considerably over the previous eight years to include Wealthsimple Trade, a no fees discount brokerage platform.

Does Wealthsimple Trade Charge Any Fees?

Wealthsimple Trade allows investors trade stand alone stocks and also ETFs without paying any commissions. The exception to this is when trading securities that are denominated in USD. In this case, they do charge a small currency conversion fee when buying and selling. But, gone are the times of paying Upwards of $7 for each trade with digital discount brokerages as was normal only a few years past.

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

Wealthsimple is awesome in that they allow Canadian investors to make a minimum deposit of only $1. Many alternative banks and discount brokerages have quite large min deposit amounts of 1k-$5000. This makes it impossible for the normal new investor to start. With Wealthsimple Trade, you won’t need to already be wealthy to begin trading stocks and ETFs.

But Does Wealthsimple Trade Offer TFSA Accounts?

They do. Wealthsimple Trade has available registered and non-registered accounts. You are free to select both RRSP and TFSA accounts in the setup phase. 

Does Wealthsimple Trade Have a Mobile Application?

Yes, Wealthsimple Trade offers a well designed mobile app that is available on Apple and Android. The smartphone app makes the enrollment steps and trading of stocks and ETFs incredibly easy.

But Is Wealthsimple Trade Secure?

. Wealthsimple Trade is safe. Wealthsimple boasts over 15 billion Canadian in Assets Under Management . These folks have been doing business for more than 7 years and currently employs over 600 Canadians. The controlling shareholder is the respected public Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fee online brokerage to operate in Canada.

But How Does One Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it quite easy to add funds to your account. Just connect to a chequing or savings account with your Trade account, then fund your account in simply a couple of steps. Deposits from financial institutions to Wealthsimple typically take a couple of days. Funds can also be moved back to your chequing or savings account by using the same process.

What Other Benefits and Products Are Available?

Wealthsimple Cash – An alternative to Interac E-transfers that allow one to quickly and efficiently send cash to friends and family in Canada.

Wealthsimple Tax – Everything you’ll require to prepare for tax season and file your tax return online free. It’s described to be simple, accurate and always free tax filing.

Wealthsimple Spend – A combination pre paid visa and savings product that lets you to get 1% cashback on all your everyday purchases, and also get a competitive 1.5% interest rate on savings.

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

Each of the listed products, including Wealthsimple Trade can be found in the mobile app and on their site with one login.

How Should I Begin Using Wealthsimple Trade?

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

So What if I Still Have Questions Related to Wealthsimple Trading Company?

If this article hasn’t given you the answers to each of your questions, and you’re still looking for more specific info about Wealthsimple Trading Company, go to the Wealthsimple site to find answers to each your questions.