What is the difference between WealthSimple Trade and WealthSimple Invest?

Asked 4 years ago

Hi everyone I am new and only a month in with this stock, investments, etc. I downloaded Wealth Invest. Is it different from Wealth Trade? I have a TFSA and RRSP with the trading app, and I thought it would link together. But, when I log on to the Wealth Invest, it says I must add funds to my TFSA, which I don't have an issue with. Can someone please clarify? Thanks so much.

Wealthsimple trade Wealthsimple invest

Andrew Moran

Monday, June 28, 2021

The key difference is that WealthSimple trade is a self-directed trading account to buy and sell stocks, while WealthSimple Invest uses your deposits to create an investment portfolio of stocks, bonds, and everything in between.
Both are highly beneficial for investors who want a bit of both: the expert know-how who can grow your money and the armchair investor who wants to find the next big stock.
Whatever the case, if you are looking to broaden your finances beyond your neighbourhood financial institution and save on fees, WS Trade and Invest are great tools to have in your pocket, even if you are only adding a small amount each month.