What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian web based investing, stocks plus crypto trading web app that distinguishes itself from the competition by charging absolutely no fees.
A leading Canadian fintech company founded in the Fall of 2014 exclusively as a robo advisor algorithmic trading platform named Wealthsimple Invest, it has evolved significantly over the previous 8 years to feature Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets Canadian investors to trade stand alone stocks and also ETFs without having to pay any commissions. The exception to this is when you’re trading ETFs and stocks that are denominated in US Dollars. In that case, they charge a small currency conversion fee both when buying and selling. However, behind us are the days of having to pay $7-12 per trade with digital discount brokerages as was the norm just a couple years ago.
How Much Cash do I Need to Have to Begin Investing With Wealthsimple Trade?
Wealthsimple is awesome such that they allow Canadians to make a minimum deposit of just $1. The majority of traditional banks and brokerages have large minimum deposit amounts of 1k-5k. This makes it hard for the normal investor to start. With Wealthsimple Trade, you won’t need to already be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Offer Registered Accounts?
Of course. Wealthsimple Trade offers both CRA registered and non-registered account types. One are free to choose both RRSP and TFSA accounts in the setup process.
So Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a well designed mobile app available to download on both Apple and also Android. The mobile app makes the signup steps and the trading of stocks and ETFs super easy.
But Is Wealthsimple Trade Secure?
Yes. Wealthsimple Trade is trustworthy. Wealthsimple has in excess of 15 billion Canadian of Assets Under Management (AUM). they’ve been doing business for more than 7 years and also employs about 600 Canadians. The majority shareholder is the admired public Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fees online discount brokerage operating in Canada.
But How Does One Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very easy to add money to your account. Simply connect the app to a chequing or savings account with your Trade account, then add funds to your account in only a few steps. Deposits from financial institutions to Wealthsimple normally take only a couple of days. Funds can just as easily be moved to a chequing or savings accounts by the same method.
What Additional Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to E-transfers that allow one to quickly and easily transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for this tax year and submit your tax return online free. It’s advertised to be easy, accurate and always free income tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings account that allows you to recieve 1% cashback on all 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 which offers a bunch of online courses on different topics such as saving, investing, crypto, mortgages and much more.
Every one of the above features, including Wealthsimple Trade can be found in the app or from their website with your Wealthsimple login.
How Should I Get Started With Wealthsimple Trade?
Click here to signup for a new Wealthsimple Trade account. For a special registration bonus offer to our audience you will get the equivalent cash value of a Canadian stock worth up to $4,500 Canadian once you deposit to your account.
But What if I Still Have Additional Questions Related to After Hours Trading Wealthsimple?
If this review still hasn’t given you the answers to each of your questions, and you’re browsing for more info relating to After Hours Trading Wealthsimple, visit the Wealthsimple website for answers to all your questions.