Wealthsimple Vs Questrade Review

What Exactly is Wealthsimple?

Wealthsimple is a simple to use Canadian web based Financial, stocks and crypto trading app that sets itself apart from other apps by charging absolutely no fees.

A online financial services company launched in the Fall of twenty fourteen exclusively as a robo advisor algorithmic trading app called Wealthsimple Invest, it has grown considerably over the last 8 years to also include Wealthsimple Trade, a zero fee discount brokerage service.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade lets consumers trade both individual stocks and also ETFs without paying commissions. The exception to this is when trading stocks and ETFs which are listed in USD. In which case, they will charge a nominal currency conversion fee both when buying and selling. But, past us are the times of having to pay Upwards of $7 per trade with online discount brokerages as was expected a few years ago.

Exactly How Much in Funds do I Need to Have in Order to Start With Wealthsimple Trade?

Wealthsimple is cool in that they will allow investors to make a minimum deposit of only $1. Many traditional banks and discount brokerages have sizeable minimum deposit amounts of $1,000-5k. This makes it difficult for the common investor to start investing. With Wealthsimple Trade, one doesn’t have to be wealthy to begin trading stocks and ETFs.

Does Wealthsimple Trade Have RRSP Accounts?

It does. Wealthsimple Trade has available both CRA registered and non-CRA-registered account types. One are free to choose between both RRSP and TFSA account types during the setup process.

But Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade offers a modern mobile app that is offered to download on IOS and also Google Play. The mobile app makes the signup phase and trading of stocks and ETFs incredibly easy.

Is Wealthsimple Trade Legit?

Definitely. Wealthsimple Trade is legit. Wealthsimple reports more than 15 billion Canadian in Assets Under Management (AUM). This company has been doing business for more than 7 years and also currently employs about 600 Canadians. The majority shareholder is the large public Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fee online brokerage to operate in Canada.

But How Can I Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it incredibly easy to add money to your account. Simply connect the app to a chequing or savings account with your Trade account, and fund your account in only a few steps. Deposits from financial institutions to Wealthsimple usually take only a couple of days. Funds can also be moved back to your chequing or savings account through the exact same process.

What Additional Benefits and Products Are Available?

Wealthsimple Cash – An equivalent to e-Transfers that allow one to quickly and simply transfer cash to friends and family in Canada.

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

Wealthsimple Spend – A combination pre paid debit card and savings product that lets you to get 1% cashback on all your everyday spending, as well as earn a very competitive 1.5% interest on savings.

Personal Finance 101 – Wealthsimple’s free personal finance education platform which offers a variety of different online courses on different topics such as saving, investing, crypto, mortgages and more.

All of the above products, along with Wealthsimple Trade can be found on the mobile app or on their website with your Wealthsimple login.

But How Should I Get Started Using Wealthsimple Trade?

Click here to setup a Wealthsimple Trade account. For a special signup bonus to our readers you’ll receive the equivalent cash value of a share worth up to $4,500 CAD when you deposit to your account.

But What if I Still Have Additional Questions Concerning Wealthsimple Vs Questrade Review?

If this article didn’t given you the answers to all of your questions, and you’re browsing for further specific facts about Wealthsimple Vs Questrade Review, go to the Wealthsimple website for answers to each your questions.