Wealthsimple Watchlist

What Exactly is Wealthsimple?

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

A online financial services company launched in Autumn of 2014 exclusively as a robo-advisor algorithmic automated trading app called Wealthsimple Invest, it has improved considerably over the previous 8 years to also feature Wealthsimple Trade, a zero fees discount brokerage service.

Does Wealthsimple Trade Charge Its Users Fees?

Wealthsimple Trade lets consumers to trade single stocks and ETFs without needing to pay any commissions. The exception to this is when you’re trading stocks which are displayed in USD currency. In this case, they will charge a small currency conversion fee when buying and selling. But, behind us are the days of having to pay more than $7 for each trade with online discount brokerages as was expected a couple years ago.

How Much Money do I Need to Have to Start With Wealthsimple Trade?

Wealthsimple is cool such that they will allow investors to make a minimum deposit of just $1. The majority of alternative banks and brokerages have large minimum deposit amounts of 1k-$5,000. This makes it difficult for the common new investor to get started. With Wealthsimple Trade, one doesn’t need to already be wealthy to begin trading stocks and ETFs.

Does Wealthsimple Trade Offer TFSA Accounts?

They do. Wealthsimple Trade offers registered and non-CRA-registered account types. One are able to select between both RRSP and TFSA account types in the setup process.

So Does Wealthsimple Trade Have a Mobile Application?

Yes, Wealthsimple Trade has a easy to use mobile app that is available to download on both iOS and also Android. The mobile app makes the registration process and trading of stocks and ETFs very painless.

So Is Wealthsimple Trade Secure?

Yes. Wealthsimple Trade is trustworthy. Wealthsimple boasts over 15 billion Canadian in Assets Under Management (AUM). These folks have been operating for more than 7 years and also currently employs about 600 people. The majority shareholder is the respected public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fee digital brokerage operating in Canada.

But How Can I Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it very easy to deposit to your account. Just connect the app to a chequing or savings account with your Trade account, and then fund your account in simply a couple of clicks. Deposits from financial institutions to Wealthsimple typically take a few days. Funds can also be withdrawn a chequing or savings accounts with the exact same steps.

Which Other Benefits and Products Does Wealthsimple Offer?

Wealthsimple Cash – This is equivalent to Interac E-Transfers that allows anyone to quickly and efficiently send money to friends and family in Canada.

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

Wealthsimple Spend – A combination prepaid visa and savings account that allows one to get 1% cashback on your everyday purchases, and also get a very competitive 1.5% interest rate on savings.

Personal Finance 101 – Wealthsimple’s free personal finance platform that offers a variety of online courses on saving, investments, crypto, home buying and much more.

Every one of the listed products, including Wealthsimple Trade may be found inside the mobile app and from the site with one login.

So How do I Start With Wealthsimple Trade?

Click here to create your Wealthsimple Trade account. As a special registration bonus offer to our readers you’ll get the equivalent cash value of a random share worth up to $4,500 CAD once you make an initial deposit to your account.

But What if I Still Have Questions About Wealthsimple Watchlist?

If this article still hasn’t given you the answers to all of your questions, and you’re looking for additional answers about Wealthsimple Watchlist, go to the Wealthsimple site for answers to all your questions.