What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian digital Financial, securities and crypto trading platform that distinguishes itself from its competitors by charging no fees.
A leading Canadian fintech company founded in the Fall of 2014 originally as a robo advisor automated trading platform named Wealthsimple Invest, it has evolved substantially over the previous eight years to also include Wealthsimple Trade, a no fees discount brokerage platform.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets consumers to trade both single stocks and also ETFs without paying any fees. The exception is when trading stocks and ETFs that are displayed in US Dollars. In which case, they do charge a small currency conversion fee when buying and selling. But, behind us are the days of paying $7-12 per each trade with digital discount brokerages as was common only a couple years past.
How Much Money do I Need to Have to Start on Wealthsimple Trade?
Wealthsimple is cool in that they will allow new customers to make a minimum deposit of just $1. Many traditional banks and brokerages have large initial deposit amounts of 1K-$5000. This makes it impossible for the typical investor to get started. With Wealthsimple Trade, you don’t have to be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Offer Registered Accounts?
Of course. Wealthsimple Trade offers both CRA registered and non-CRA-registered account types. You can select both RRSP and TFSA account types during the setup phase.
Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a easy to use mobile app offered on both IOS and Google Play. The app makes the enrollment process and also the trading of stocks and ETFs very easy.
But Is Wealthsimple Trade Safe?
Of course. Wealthsimple Trade is safe. Wealthsimple reports in excess of 15 billion Canadian in Assets Under Management . This company has been in business for more than 7 years and employs over 600 folks. The primary shareholder is the publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital discount brokerage operating in Canada.
So How Can I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very straight forward to add funds to your account. Just connect the app to a chequing or savings account to your Trade account, and then add funds to your account in simply a couple of steps. Deposits from banks to Wealthsimple normally take only a couple of days. Funds can the same way can be withdrawn a chequing or savings account with the same method.
What Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent 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 get ready for tax year and file your tax return online for free. It’s described to be easy, accurate and always totally free income tax filing.
Wealthsimple Spend – A combination pre paid visa and savings account that lets one to earn 1% cashback on all your everyday purchases, and also get a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform which includes a ton of different online courses on topics like saving, investments, crypto, mortgages and more.
All of the listed products, including Wealthsimple Trade may be accessed inside the mobile app and at their website with a single login.
But How Can I Begin Using Wealthsimple Trade?
Click here to register for a new Wealthsimple Trade account. For a special registration bonus for our readers you’ll receive the equivalent cash value of a random stock valued at $25 up to $4,500 Canadian when you fund your account.
So What if I Still Have Additional Questions About Buying Bitcoin On Wealthsimple?
If this blog post didn’t given you the answers to all of your questions, and you’re looking for additional info about Buying Bitcoin On Wealthsimple, check out the Wealthsimple site to find answers to each your questions.