Wealthsimple Day Trading Review

What Exactly is Wealthsimple?

Wealthsimple is a simple to use Canadian digital investing, stock plus crypto trading web app that distinguishes itself from the competition by charging no fees.

A leading Canadian online financial services company launched in Autumn of 2014 originally as a robo advisor algorithmic trading platform called Wealthsimple Invest, it has grown substantially over the past eight years to include Wealthsimple Trade, a zero fee discount brokerage service.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade lets investors to trade both single stocks and also ETFs without paying commissions. The exception is when trading ETFs and stocks which are listed in US Dollars. In that case, they will charge a currency conversion fee both when buying and selling. But, gone are the days of paying $7-12 per each trade with discount brokerages as was expected only a few years ago.

Exactly How Much in Funds do I Need to Have in Order to Get Started on Wealthsimple Trade?

Wealthsimple is special in that they allow investors to make a minimum deposit of just $1. Many alternative banks and brokerages have sizeable minimum deposit amounts of 1K-$5,000. This makes it impossible for the every day investor to start. With Wealthsimple Trade, you don’t have to already be wealthy to start trading stocks and ETFs.

But Does Wealthsimple Trade Have RRSP Accounts?

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

So Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade has a modern mobile app available to download on IOS and Google Play. The mobile app makes the registration process and trading of stocks and ETFs truly painless.

So Is Wealthsimple Trade Trustworthy?

Of course. Wealthsimple Trade is safe. Wealthsimple boasts in excess of 15 billion Canadian in Assets Under Management . This company has been in business for more than 7 years and also right now employs more than 600 people. The main shareholder is the respected public Canadian entity Power Corp of Canada. Weapthsimple Trade is the very first no-fee online discount brokerage operating in Canada.

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

The Wealthsimple Trade smartphone app makes it quite straight forward to add funds to your account. Simply connect to a chequing or savings account with your Trade account, and add money to your account in simply a few clicks. Deposits from financial institutions to Wealthsimple typically take only a couple of days. Funds can just as easily be withdrawn a chequing or savings account through the same method.

Which Additional Benefits and Products Does Wealthsimple Offer?

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

Wealthsimple Tax – Everything you require to get ready for this tax year and submit your tax return online for free. It’s advertised to be easy, accurate and always totally free income tax filing.

Wealthsimple Spend – A hybrid prepaid debit card and savings product which lets you to recieve 1% cashback on your everyday spending, and also get a competitive 1.5% interest rate on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which offers a bunch of different online courses on saving, investing, crypto, home buying and more.

Each of the above features, including Wealthsimple Trade may be found on the app and on their site with one login.

How Should I Start With Wealthsimple Trade?

Click here to setup a new Wealthsimple Trade account. As a special signup bonus for our audience you will get the cash value of a random share valued at $25 up to $4,500 CAD once you add funds to your account.

What if I Still Have Additional Questions Concerning Wealthsimple Day Trading Review?

If this review still hasn’t answered all of your questions, and you’re still searching for further info relating to Wealthsimple Day Trading Review, visit the Wealthsimple site to find answers to each your questions.