Wealthsimple Trade Journal

What is Wealthsimple?

Wealthsimple is a simple to use Canadian web based Financial, stock plus crypto trading platform that distinguishes itself from other apps by charging absolutely no fees.

A Toronto, Ontario based fintech company launched in Fall 2014 originally as a robo advisor automated trading platform named Wealthsimple Invest, it has changed considerably over the previous 8 years to also include Wealthsimple Trade, a no fee discount brokerage app.

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade allows consumers to trade single stocks and ETFs without having to pay fees. The exception to this is when trading stocks and ETFs that are displayed in US Dollars. In which case, they do charge a small currency conversion fee when buying and selling. However, past us are the times of paying more than $7 for each trade with online discount brokerages as was normal just a couple years past.

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

Wealthsimple is special in that they allow Canadian investors to make a minimum deposit of only $1. Most alternative banks and discount brokerages have sizeable initial deposit amounts of 1k-$5000. This makes it impossible for the every day new investor to get started. With Wealthsimple Trade, you don’t have to be wealthy to get started with trading stocks and ETFs.

So Does Wealthsimple Trade Have Registered Accounts?

They do. Wealthsimple Trade has both registered and non-registered account types. You are free to choose both RRSP and TFSA accounts during the setup wizard.

So Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade offers a modern mobile app that is offered to download on IOS and Google Play. The mobile app makes the enrollment steps and trading of stocks and ETFs very simple.

Is Wealthsimple Trade Secure?

Of course. Wealthsimple Trade is legit. Wealthsimple boasts over 15 billion Canadian in Assets Under Management (AUM). they’ve been in business for more than 7 years and also now employs more than 600 folks. The majority shareholder is the admired publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fees digital discount brokerage to operate in Canada.

But How Can I Fund a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it incredibly simple to add funds to your new account. Simply connect a chequing or savings account with your Trade account, and fund your account in simply a few clicks. Deposits from your bank to Wealthsimple normally take only a few days. Funds can also be moved to a chequing or savings accounts through the same process.

Which Additional Benefits and Products Are Offered by Wealthsimple?

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

Wealthsimple Tax – Everything you’ll require to prepare for this tax year and file your tax return online free. It’s advertised to be simple, accurate and always totally free income tax filing.

Wealthsimple Spend – A hybrid prepaid debit card and savings account that lets you to recieve 1% cashback on all your purchases, and also earn a competitive 1.5% interest rate on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance platform which offers a variety of different courses on saving, investing, crypto, mortgages and more.

All of the listed features, including Wealthsimple Trade may be found on the app and at their website with a single login.

So How Can I Get Started With Wealthsimple Trade?

Click here to setup your Wealthsimple Trade account. As an exclusive registration bonus offer for our readers you’ll get the equivalent cash value of a share worth up to $4,500 Canadian when you add funds to your account.

So What if I Still Have Questions Concerning Wealthsimple Trade Journal?

If this blog post didn’t given you the answers to all of your questions, and you’re still searching for further info relating to Wealthsimple Trade Journal, check out the Wealthsimple website to find answers to every one of your questions.