Wealthsimple Trading Company

What is Wealthsimple?

Wealthsimple is a simple to use Canadian digital Financial, stocks and crypto trading app that distinguishes itself from its competitors by charging no fees.

A online financial services company founded in Fall twenty fourteen exclusively as a robo-advisor automated trading platform named Wealthsimple Invest, it has changed substantially over the past 8 years to include Wealthsimple Trade, a zero fee discount brokerage app.

Does Wealthsimple Trade Charge Fees?

Wealthsimple Trade lets Canadian investors trade stand alone stocks and also ETFs without needing to pay any commissions. The exception to this is when you’re trading stocks and ETFs which are displayed in US Dollars. In this case, they charge a nominal currency conversion fee both when buying and selling. But, gone are the times of having to pay Upwards of $7 for each trade with digital discount brokerages as was common a few years past.

Exactly How Much Cash do I Need to Get Started With Wealthsimple Trade?

Wealthsimple is cool such that they allow Canadians to make a minimum deposit of only $1. The majority of alternative banks and discount brokerages have quite large minimum deposit amounts of 1K-$5000. This makes it impossible for the everyday investor to start investing. With Wealthsimple Trade, one doesn’t have to be wealthy to begin trading stocks and ETFs.

But Does Wealthsimple Trade Offer RRSP Accounts?

Of course. Wealthsimple Trade has available CRA registered and non-CRA-registered account types. You can choose both RRSP and TFSA account types during the setup wizard.

Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade has a convenient mobile app that is offered on iOS and also Google Play. The app makes the enrollment process and also the trading of stocks and ETFs truly simple.

But Is Wealthsimple Trade Legit?

For sure. Wealthsimple Trade is legit. Wealthsimple boasts over 15 billion CAD of Assets Under Management . This company has been expanding for more than 7 years and currently employs more than 600 Canadians. The majority shareholder is the public Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fee online discount brokerage operating in Canada.

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

The Wealthsimple Trade smartphone app makes it incredibly easy to add money to your account. Just connect the app to a chequing or savings account to your Trade account, then add funds to your account in simply a couple of steps. Deposits from your bank to Wealthsimple normally take just a few days. Funds can also be withdrawn your chequing or savings accounts through the exact same method.

What Other Features and Products Are Offered by Wealthsimple?

Wealthsimple Cash – This is alternative to Interac E-transfers that allows one to quickly and easily send money to friends and family in Canada.

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

Wealthsimple Spend – A combination prepaid debit card and savings account which lets you to recieve 1% cashback on your spending, and also earn a very competitive 1.5% interest on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that includes a ton of online courses on topics like saving, investing, crypto, mortgages and much more.

All of the above features, including Wealthsimple Trade can be found inside the mobile app or at the website with one login.

How Should I Start Using Wealthsimple Trade?

Click here to register for a Wealthsimple Trade account. As an exclusive signup bonus offer for our readers you will receive the equivalent cash value of a random Canadian stock worth $25 up to $4,500 Canadian when you deposit to your account.

So What if I Still Have Additional Questions About Wealthsimple Trading Company?

If this review hasn’t answered all of your questions, and you’re browsing for further specific answers relating to Wealthsimple Trading Company, check out the Wealthsimple website to get answers to each your questions.