What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital Financial, stocks plus crypto trading web app that distinguishes itself from other apps by charging absolutely no fees.
A fintech business launched in Fall 2014 exclusively as a robo-advisor automated trading platform named Wealthsimple Invest, it has evolved significantly over the previous 8 years to include Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets investors trade single stocks and also ETFs without needing to pay fees. The exception is when you’re trading ETFs and stocks that are displayed in US Dollars. In that case, they charge a small currency conversion fee both when buying and selling. But, past us are the times of having to pay $7-12 for each trade with discount brokerages as was common just a couple years past.
How Much in Funds Will I Need in Order to Start With Wealthsimple Trade?
Wealthsimple is awesome such that they allow Canadians to make a minimum deposit of just $1. Most alternative banks and brokerages have sizeable min deposit amounts of $1000-$5,000. This makes it tough for the every day investor to start investing. With Wealthsimple Trade, one doesn’t have to already be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Have RRSP Accounts?
Of course. Wealthsimple Trade has available registered and non-registered account types. You are able to choose between both RRSP and TFSA account types in the setup wizard.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a modern mobile app that is available to download on both iOS and Android. The app makes the registration phase and also trading of stocks and ETFs truly a breeze.
So Is Wealthsimple Trade Trustworthy?
Definitely. Wealthsimple Trade is secure. Wealthsimple reports more than 15 billion CAD of Assets Under Management (AUM). They have been in business for more than 7 years and employs about 600 people. The majority shareholder is the admired publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fee digital discount brokerage to operate in Canada.
But How Can I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly easy to add money to an account. Just connect the app to a chequing or savings account with your Trade account, and then add money to your account in just a couple of clicks. Deposits from financial institutions to Wealthsimple usually take just a few days. Funds can the same way can be moved back to a chequing or savings accounts through the exact same steps.
Which Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An alternative to Interac E-Transfers which allows anyone to quickly and efficiently send money to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for this tax season and submit your tax return online free. It’s advertised as easy, accurate and always free tax filing.
Wealthsimple Spend – A combination prepaid debit card and savings account which lets one to get 1% cashback on your spending, as well as get a very competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that offers a bunch of online courses on saving, investments, crypto, home buying and much more.
Each of the above features, including Wealthsimple Trade may be accessed inside the mobile app or from the site with one login.
So How Can I Get Started Using Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. As a special registration bonus offer for our audience you’ll get the equivalent cash value of a random share worth up to $4,500 Canadian when you make an initial deposit to your account.
But What if I Still Have Additional Questions Concerning Best Crypto To Buy On Wealthsimple?
If this blog post still hasn’t answered each of your questions, and you’re browsing for additional specific answers about Best Crypto To Buy On Wealthsimple, go to the Wealthsimple website to get answers to each your questions.