Wealthsimple Trade Tutorial

What Exactly is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian online investing, stock plus crypto trading web app that distinguishes itself from other apps by charging no fees.

A fintech company founded in the Autumn 2014 originally as a robo-advisor trading platform named Wealthsimple Invest, it has grown significantly over the past 8 years to also feature Wealthsimple Trade, a zero fee discount brokerage service.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade allows Canadian consumers trade both single stocks and ETFs without paying any commissions. The exception is when trading securities that are listed in USD. In which case, they will charge a nominal currency conversion fee when buying and selling. But, past us are the times of paying Upwards of $7 per each trade with discount brokerages as was expected a couple years past.

Exactly How Much Money do I Need in Order to Start on Wealthsimple Trade?

Wealthsimple is awesome in that they allow Canadians to make a minimum deposit of only $1. Most traditional banks and discount brokerages have quite large initial deposit amounts of $1000-5k. This makes it hard for the everyday new investor to start. With Wealthsimple Trade, you don’t need to already be wealthy to begin trading stocks and ETFs.

But Does Wealthsimple Trade Offer TFSA Accounts?

Of course. Wealthsimple Trade offers CRA registered and non-CRA-registered account types. You are free to select both RRSP and TFSA accounts during the setup wizard.

Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade offers a modern mobile app offered to download on Apple and Android. The mobile app makes the enrollment phase and also the trading of stocks and ETFs super easy.

Is Wealthsimple Trade Trustworthy?

Definitely. Wealthsimple Trade is secure. Wealthsimple boasts in excess of 15 billion Canadian of Assets Under Management . They have been expanding for more than 7 years and also currently employs more than 600 Canadians. The main owner is the admired publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fee digital brokerage operating in Canada.

But How Do I Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it quite simple to deposit to your account. Simply connect a chequing or savings account to your Trade account, and then add money to your account in simply a few clicks. Deposits from banks to Wealthsimple normally take just a couple of days. Funds can also be withdrawn a chequing or savings accounts through the same steps.

Which Other Features and Products Are Available?

Wealthsimple Cash – An alternative to Interac E-Transfers which allow one to quickly and efficiently transfer money to friends and family in Canada.

Wealthsimple Tax – Everything you need to get ready for tax season and submit your taxes online free. It’s pitched to be simple, accurate and always free tax return filing.

Wealthsimple Spend – A combination prepaid visa and savings product which allows one to recieve 1% cashback on your everyday spending, and also earn a very competitive 1.5% interest on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance platform that includes a ton of different online courses on saving, investing, crypto, real estate and more.

Each of the mentioned products, including Wealthsimple Trade can be found in the app or at their website with a single login.

But How Should I Begin With Wealthsimple Trade?

Click here to signup for a new Wealthsimple Trade account. For an exclusive registration bonus offer to our audience you’ll get the cash value of a share valued at $25 up to $4,500 Canadian once you fund your account.

But What if I Still Have Questions Related to Wealthsimple Trade Tutorial?

If this article still hasn’t answered all of your questions, and you’re browsing for more specific answers relating to Wealthsimple Trade Tutorial, go to the Wealthsimple site to find answers to all your questions.