Wealthsimple Trade Review Reddit

What is Wealthsimple?

Wealthsimple is a simple to use Canadian web based investing, securities plus crypto trading app that differentiates itself from its competitors by charging no fees.

A Toronto, Ontario based fintech company launched in the Autumn 2014 exclusively as a robo-advisor algorithmic trading platform called Wealthsimple Invest, it has grown considerably over the past 8 years to include Wealthsimple Trade, a zero fees discount brokerage platform.

Does Wealthsimple Trade Charge Fees?

Wealthsimple Trade lets Canadian consumers to trade stand alone stocks and also ETFs without having to pay any commissions. The exception is when trading ETFs and stocks that are displayed in US Dollars. In this case, they charge a nominal currency conversion fee both when buying and selling. But, past us are the days of paying Upwards of $7 per trade with digital discount brokerages as was the norm a couple years ago.

Exactly How Much Money Will I Need to Have to Start Investing With Wealthsimple Trade?

Wealthsimple is cool such that they allow Canadians to make a minimum deposit of only $1. Many alternative banks and discount brokerages have sizeable initial deposit amounts of $1000-5k. This makes it tough for the common investor to get started. With Wealthsimple Trade, you don’t need to be wealthy to begin trading stocks and ETFs.

Does Wealthsimple Trade Have Registered Accounts?

They do. Wealthsimple Trade has available both registered and non-CRA-registered account types. One are free to select between both RRSP and TFSA accounts during the setup phase.

But Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade offers a convenient mobile app available to download on IOS and Android. The app makes the enrollment steps and trading of stocks and ETFs incredibly painless.

Is Wealthsimple Trade Secure?

Of course. Wealthsimple Trade is safe. Wealthsimple boasts more than 15 billion Canadian of Assets Under Management (AUM). they’ve been expanding for more than 7 years and also now employs over 600 people. The primary owner is the admired publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fees online brokerage operating in Canada.

How Does One Fund a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it incredibly easy to add funds to your account. Just connect the app to a chequing or savings account with your Trade account, and fund your account in just a few steps. Deposits from your bank to Wealthsimple normally take a couple of days. Funds can just as easily be moved back to a chequing or savings account by using the same method.

Which Other Features and Products Does Wealthsimple Offer?

Wealthsimple Cash – This is alternative to E-transfers which allows you to quickly and simply send cash to friends and family in Canada.

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

Wealthsimple Spend – A combination pre paid visa and savings product that allows you to recieve 1% cashback on your everyday 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 variety of online courses on different topics such as saving, investments, crypto, home buying and much more.

Every one of the mentioned products, including Wealthsimple Trade can be accessed in the app and at the website with a single login.

How Should I Get Started With Wealthsimple Trade?

Click here to setup your Wealthsimple Trade account. As a special registration bonus to our readers you’ll receive the equivalent cash value of a stock valued at up to $4,500 Canadian when you add funds to your account.

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

If this blog post still hasn’t answered each of your questions, and you’re searching for further info about Wealthsimple Trade Review Reddit, visit the Wealthsimple site for answers to each your questions.