Selling On Wealthsimple Trade

What is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian web based investing, stocks and crypto trading platform that distinguishes itself from other apps by charging no fees.

A fintech business launched in the Fall of 2014 exclusively as a robo advisor trading platform called Wealthsimple Invest, it has improved substantially over the past eight years to also feature Wealthsimple Trade, a no fee discount brokerage service.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade lets consumers trade individual stocks and also ETFs without needing to pay fees. The exception to this is when trading ETFs and stocks that are denominated in USD. In which case, they charge a currency conversion fee when buying and selling. However, past us are the days of paying more than $7 per trade with digital discount brokerages as was expected a few years past.

How Much in Funds Will I Need in Order to Start on Wealthsimple Trade?

Wealthsimple is cool in that they allow new customers to make a minimum deposit of just $1. Most alternative banks and brokerages have sizeable minimum deposit amounts of $1000-5K. This makes it hard for the common investor to start. With Wealthsimple Trade, one doesn’t need to already be wealthy to get started with trading stocks and ETFs.

But Does Wealthsimple Trade Offer RRSP Accounts?

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

Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade offers a modern mobile app that is available to download on IOS and Google Play. The app makes the signup phase and trading of stocks and ETFs incredibly simple.

Is Wealthsimple Trade Safe?

. Wealthsimple Trade is legit. Wealthsimple has more than 15 billion CAD of Assets Under Management (AUM). They have been in business for more than 7 years and at this time employs over 600 folks. The controlling shareholder is the large public Canadian company Power Corp of Canada. Weapthsimple Trade was the first no-fees digital brokerage to operate in Canada.

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

The Wealthsimple Trade smartphone app makes it quite easy to deposit to an account. Just connect a chequing or savings account to your Trade account, then add funds to your account in just a few steps. Deposits from financial institutions to Wealthsimple typically take a few days. Funds can just as easily be moved back to a chequing or savings account by the exact same method.

What Other Features and Products Does Wealthsimple Offer?

Wealthsimple Cash – An equivalent to e-Transfers that allow one to quickly and simply transfer money to friends and family in Canada.

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

Wealthsimple Spend – A hybrid pre paid visa and savings account which allows one to get 1% cashback on your spending, and also get a very competitive 1.5% interest on savings.

Personal Finance 101 – Wealthsimple’s free personal finance education platform which includes a ton of online courses on saving, investments, crypto, mortgages and much more.

Each of the listed features, along with Wealthsimple Trade can be accessed in the app and at their site with one login.

So How Can I Begin Using Wealthsimple Trade?

Click here to setup your Wealthsimple Trade account. As a special signup bonus offer to our readers you will get the equivalent cash value of a Canadian stock worth up to $4,500 Canadian when you deposit to your account.

So What if I Still Have Questions About Selling On Wealthsimple Trade?

If this blog post hasn’t given you the answers to all of your questions, and you’re searching for additional facts relating to Selling On Wealthsimple Trade, go to the Wealthsimple site for answers to all your questions.