What Exactly is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian web based Financial, securities and crypto trading platform that differentiates itself from similar apps by charging no fees.

A Toronto, Ontario based fintech company launched in the Autumn twenty fourteen exclusively as a robo advisor trading platform called Wealthsimple Invest, it has evolved substantially over the last eight years to also include Wealthsimple Trade, a no fees discount brokerage platform.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade allows Canadian consumers to trade stand alone stocks and ETFs without having to pay commissions. The exception to this is when you’re trading stocks which are listed in USD currency. In this case, they do charge a small currency conversion fee when buying and selling. But, gone are the days of paying Upwards of $7 per trade with digital discount brokerages as was normal only a few years past.

How Much Cash do I Need to Get Started With Wealthsimple Trade?

Wealthsimple is special such that they allow Canadians to make a minimum deposit of just $1. Many alternative banks and discount brokerages have quite large initial deposit amounts of $1,000-$5000. This makes it impossible for the normal new investor to get started. With Wealthsimple Trade, you don’t have to already be wealthy to get started with trading stocks and ETFs.

Does Wealthsimple Trade Have TFSA Accounts?

They do. Wealthsimple Trade offers registered and non-CRA-registered accounts. You are able to select between both RRSP and TFSA accounts during the setup wizard.

But Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade offers a convenient mobile app that is available to download on both iOS and also Google Play. The app makes the signup steps and the trading of stocks and ETFs truly easy.

But Is Wealthsimple Trade Legit?

Definitely. Wealthsimple Trade is trustworthy. Wealthsimple boasts in excess of 15 billion CAD in Assets Under Management . These folks have been expanding for more than 7 years and now employs roughly 600 people. The controlling owner is the respected publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fees digital discount brokerage to operate in Canada.

But How Do I Add Money to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it incredibly straight forward to add money to an account. Just connect to a chequing or savings account with your Trade account, and add funds to your account in simply a few steps. Deposits from financial institutions to Wealthsimple typically take only a few days. Funds can also be moved back to a chequing or savings accounts by the exact same process.

What Additional Benefits and Products Are Available?

Wealthsimple Cash – An equivalent to Interac e-Transfers which allows one to quickly and simply transfer cash to friends and family in Canada.

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

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

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

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

So How do I Get Started Using Wealthsimple Trade?

Click here to signup for your Wealthsimple Trade account. For an exclusive signup bonus for our readers you will get the equivalent cash value of a stock worth $25 up to $4,500 Canadian once you add funds to your account.

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

If this article didn’t answered each of your questions, and you’re browsing for additional information relating to Questrade Vs Wealthsimple Trade Reddit, visit the Wealthsimple website to get answers to each your questions.

What is Wealthsimple?

Wealthsimple is an easy to use Canadian digital investing, stock plus crypto trading platform that distinguishes itself from the competition by charging absolutely no fees.

A leading Canadian fintech company founded in Fall of 2014 originally as a robo-advisor automated trading platform called Wealthsimple Invest, it has changed substantially over the last eight years to include Wealthsimple Trade, a no fee discount brokerage app.

Does Wealthsimple Trade Charge Its Users Fees?

Wealthsimple Trade allows investors to trade both individual stocks and ETFs without paying any fees. The exception to this is when trading stocks and ETFs which are denominated in USD currency. In which case, they do charge a currency conversion fee both when buying and selling. But, behind us are the times of having to pay Upwards of $7 per trade with discount brokerages as was common just a couple years ago.

Exactly How Much Money Will I Need to Begin Investing on Wealthsimple Trade?

Wealthsimple is cool in that they allow new customers to make a minimum deposit of only $1. Many traditional banks and discount brokerages have sizeable initial deposit amounts of $1000-$5,000. This makes it impossible for the normal investor to start investing. With Wealthsimple Trade, you won’t have to already be wealthy to start trading stocks and ETFs.

So Does Wealthsimple Trade Offer TFSA Accounts?

Yes. Wealthsimple Trade has available both registered and non-CRA-registered accounts. One are free to choose between both RRSP and TFSA accounts during the setup process.

So Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade offers a well designed mobile app that is available on iOS and also Android. The smartphone app makes the enrollment process and the trading of stocks and ETFs incredibly a breeze.

But Is Wealthsimple Trade Safe?

. Wealthsimple Trade is trustworthy. Wealthsimple has over 15 billion CAD of Assets Under Management (AUM). they’ve been doing business for more than 7 years and employs about 600 Canadians. The controlling shareholder is the publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fee online discount brokerage to operate in Canada.

How Can I Add Funds to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it very straight forward to fund an account. Simply connect a chequing or savings account with your Trade account, and add money to your account in only a couple of steps. Deposits from banks to Wealthsimple normally take only a couple of days. Funds can the same way can be withdrawn a chequing or savings account by using the exact same process.

What Other Benefits and Products Are Available?

Wealthsimple Cash – An equivalent to e-transfers that allows anyone to quickly and easily send cash to friends and family in Canada.

Wealthsimple Tax – Everything you need to prepare for this tax year and submit your tax return online free. It’s described as easy, accurate and always totally free tax filing.

Wealthsimple Spend – A hybrid prepaid debit card and savings product which allows one to recieve 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 learning platform which offers a ton of online courses on different topics such as saving, investing, crypto, home buying and more.

Every one of the listed products, including Wealthsimple Trade may be found inside the mobile app and on their site with your Wealthsimple login.

How do I Start Using Wealthsimple Trade?

Click here to register for a Wealthsimple Trade account. As a special signup bonus offer to our readers you’ll receive the cash value of a stock worth up to $4,500 CAD once you deposit to your account.

What if I Still Have Additional Questions Related to Questrade Vs Wealthsimple Trade Reddit?

If this article still hasn’t given you the answers to all of your questions, and you’re still looking for additional specific info relating to Questrade Vs Wealthsimple Trade Reddit, check out the Wealthsimple site for answers to every one of your questions.