Wealthsimple Trade Index Funds

What Exactly is Wealthsimple?

Wealthsimple is an easy to use Canadian web based investing, stocks plus crypto trading app that differentiates itself from similar apps by charging no fees.

A Toronto, Ontario based fintech business founded in Fall 2014 originally as a robo advisor algorithmic automated trading platform named Wealthsimple Invest, it has evolved substantially over the last 8 years to also feature Wealthsimple Trade, a zero fees discount brokerage service.

Does Wealthsimple Trade Charge Fees?

Wealthsimple Trade lets Canadian consumers to trade both stand alone stocks and ETFs without paying fees. The exception to this is when you’re trading securities which are displayed in USD. In this case, they will charge a small currency conversion fee both when buying and selling. But, behind us are the days of paying more than $7 per each trade with discount brokerages as was expected only a couple years ago.

How Much Money do I Need to Have to Start With Wealthsimple Trade?

Wealthsimple is awesome such that they will allow Canadian investors to make a minimum deposit of just $1. Many alternative banks and discount brokerages have large minimum deposit amounts of 1k-$5,000. This makes it difficult for the typical new investor to get started. With Wealthsimple Trade, one doesn’t need to already be wealthy to start trading stocks and ETFs.

But Does Wealthsimple Trade Have TFSA Accounts?

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

But Does Wealthsimple Trade Have a Mobile Application?

Yes, Wealthsimple Trade offers a easy to use mobile app that is offered to download on both Apple and also Google Play. The smartphone app makes the enrollment process and trading of stocks and ETFs very simple.

So Is Wealthsimple Trade Trustworthy?

For sure. Wealthsimple Trade is safe. Wealthsimple boasts over 15 billion CAD of Assets Under Management (AUM). This company has been doing business for more than 7 years and at this time employs more than 600 folks. The majority owner is the admired publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fees online brokerage to operate in Canada.

So How Can I Add Money to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it very straight forward to add funds to a new account. Simply connect a chequing or savings account to your Trade account, and add funds to your account in simply a couple of clicks. Deposits from financial institutions to Wealthsimple normally take just a few days. Funds can just as easily be withdrawn your chequing or savings account using the exact same steps.

Which Other Features and Products Are Available?

Wealthsimple Cash – This is alternative to Interac E-transfers which allow anyone to quickly and simply transfer cash to friends and family in Canada.

Wealthsimple Tax – Everything you’ll require to get ready for tax season and submit your taxes online free. It’s advertised to be easy, accurate and always free tax filing.

Wealthsimple Spend – A combination prepaid debit card and savings account which allows one to get 1% cashback on your purchases, and also earn a competitive 1.5% interest on savings.

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

All of the listed products, along with Wealthsimple Trade may be found within the app and on their website with your Wealthsimple login.

How do I Get Started Using Wealthsimple Trade?

Click here to setup a new Wealthsimple Trade account. For a special registration bonus offer to our readers you’ll receive the cash value of a random Canadian stock valued at $25 up to $4,500 Canadian as soon as you make an initial deposit to your account.

So What if I Still Have Questions Concerning Wealthsimple Trade Index Funds?

If this article still hasn’t answered all of your questions, and you’re still searching for further specific facts about Wealthsimple Trade Index Funds, check out the Wealthsimple website for answers to all your questions.