Wealthsimple Trade Vs Questrade Reddit

What is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian online Financial, stocks and crypto trading app that differentiates itself from the competition by charging no fees.

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

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade lets consumers trade both individual stocks and ETFs without needing to pay fees. The exception is when you’re trading stocks that are listed in US Dollars. In this case, they will charge a currency conversion fee both when buying and selling. However, behind us are the days of having to pay Upwards of $7 per each trade with digital discount brokerages as was the norm just a couple years past.

How Much Cash do I Need to Have in Order to Start Investing With Wealthsimple Trade?

Wealthsimple is cool such that they will allow new customers to make a minimum deposit of just $1. The majority of traditional banks and discount brokerages have sizeable minimum deposit amounts of $1,000-$5,000. This makes it difficult for the typical new investor to start. With Wealthsimple Trade, you won’t need to be wealthy to begin trading stocks and ETFs.

But Does Wealthsimple Trade Have RRSP Accounts?

They do. Wealthsimple Trade has available both registered and non-CRA-registered accounts. One may choose between both RRSP and TFSA accounts in the setup wizard.

So Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade has a well designed mobile app that is offered on both Apple and Android. The app makes the signup steps and also trading of stocks and ETFs very easy.

So Is Wealthsimple Trade Trustworthy?

Yes. Wealthsimple Trade is safe. Wealthsimple has over 15 billion CAD in Assets Under Management . These folks have been in business for more than 7 years and at this time employs about 600 folks. The main owner is the admired publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the very first no-fees digital discount brokerage operating in Canada.

So How Does One Add Money to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it 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 simply a couple of clicks. Deposits from financial institutions to Wealthsimple normally take just a few days. Funds can also be withdrawn your chequing or savings account with the exact same process.

Which Other Benefits and Products Are Available?

Wealthsimple Cash – An alternative to Interac e-transfers which allows anyone to quickly and efficiently transfer cash to friends and family in Canada.

Wealthsimple Tax – Everything you require to prepare for this tax season and file your taxes online for free. It’s described as easy, accurate and always totally free tax filing.

Wealthsimple Spend – A hybrid pre paid visa and savings account that lets one to get 1% cashback on your everyday purchases, and also earn a very competitive 1.5% interest on savings.

Personal Finance 101 – Wealthsimple’s free personal finance learning platform that includes a variety of courses on saving, investments, crypto, real estate and much more.

All of the mentioned products, along with Wealthsimple Trade may be accessed in the app and on the site with a single login.

So How Can I Start With Wealthsimple Trade?

Click here to register for a new Wealthsimple Trade account. For a special registration bonus for our audience you will receive the cash value of a random stock valued at $25 up to $4,500 CAD when you fund your account.

What if I Still Have Additional Questions Concerning Wealthsimple Trade Vs Questrade Reddit?

If this article still hasn’t answered each of your questions, and you’re still browsing for further specific answers about Wealthsimple Trade Vs Questrade Reddit, go to the Wealthsimple website to find answers to all your questions.