Wealthsimple Trade App Now Allows Up to $250 Instant Deposits

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Toronto-based Wealthsimple Trade has recently been updated to allow for up to $250 in instant deposits, every three days, a feature rolling out to its existing userbase. Previously, it would take anywhere from 2-5 business days for money to be transferred from a user’s bank account.

Wealthsimple Trade lets Canadians trade stocks and ETFs with $0 commission (it’s like Robinhood in the U.S.), plus also buy and sell cryptocurrencies with Wealthsimple Crypto (another alternative is Newton–get $25 free here after your first investment over $100). No minimums are required to get started.

You can open a personal account, RRSP, and earn capital gains and dividends tax-free with a self-directed TFSA, through Wealthsimple Trade.

Wealthsimple Trade apps for iOS and Android have also been updated today to feature a new app icon as well.

Recently, Wealthsimple Trade topped the App Store in Canada, as Canadians participated with the Reddit army from r/WallStreetBets to take on Wall Street.

Click here to sign up for Wealthsimple Trade and get a $10 free cash bonus.

Disclosure: Wealthsimple is an affiliate partner of iPhone in Canada and allows readers to help support the site. Investing is risky, do so at your own risk.