Crypto On Wealthsimple

What Exactly is Wealthsimple?

Wealthsimple is a simple to use Canadian web based Financial, stocks and crypto trading platform that distinguishes itself from the competition by charging absolutely no fees.

A fintech company founded in Fall 2014 originally as a robo advisor algorithmic automated trading app called Wealthsimple Invest, it has changed substantially over the past 8 years to include Wealthsimple Trade, a no fee discount brokerage service.

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade allows Canadian investors trade both stand alone stocks and ETFs without paying any commissions. The exception is when you’re trading ETFs and stocks that are displayed in USD. In that case, they do charge a small currency conversion fee when buying and selling. However, past us are the times of having to pay more than $7 for each trade with digital discount brokerages as was the norm a few years ago.

Exactly How Much Money do I Need to Have in Order to Start With Wealthsimple Trade?

Wealthsimple is cool such that they allow Canadian investors to make a minimum deposit of only $1. Many alternative banks and discount brokerages have sizeable initial deposit amounts of $1,000-$5,000. This makes it hard for the everyday new investor to get started. With Wealthsimple Trade, you won’t have to be wealthy to start trading stocks and ETFs.

But Does Wealthsimple Trade Offer Registered Accounts?

Of course. Wealthsimple Trade has available registered and non-CRA-registered account types. One are able to select between both RRSP and TFSA account types in the setup phase.

But Does Wealthsimple Trade Have a Mobile Application?

Yes, Wealthsimple Trade has a convenient mobile app offered to download on IOS and Android. The smartphone app makes the signup steps and trading of stocks and ETFs very easy.

Is Wealthsimple Trade Safe?

Most definitely. Wealthsimple Trade is legit. Wealthsimple reports in excess of 15 billion CAD of Assets Under Management . This company has been operating for more than 7 years and also employs over 600 Canadians. The main shareholder is the admired publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fees online discount brokerage to operate in Canada.

How Can I Add Money to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it so simple to add funds to your new account. Simply connect a chequing or savings account with your Trade account, then add money to your account in only a few steps. Deposits from financial institutions to Wealthsimple typically take a couple of days. Funds can the same way can be moved back to your chequing or savings account with the same method.

What Other Benefits and Products Does Wealthsimple Offer?

Wealthsimple Cash – This is alternative to e-Transfers that allows anyone to quickly and easily transfer cash to friends and family in Canada.

Wealthsimple Tax – Everything you need to prepare for this tax year and file your tax return online for free. It’s described as easy, accurate and always totally free tax return filing.

Wealthsimple Spend – A hybrid pre paid visa and savings product that allows you to earn 1% cashback on your purchases, and also earn a competitive 1.5% interest rate on savings.

Personal Finance 101 – Wealthsimple’s free personal finance platform which offers a bunch of different online courses on different topics such as saving, investments, crypto, home buying and much more.

Each of the mentioned features, along with Wealthsimple Trade can be found inside the app or at the website with your Wealthsimple login.

But How Should I Get Started With Wealthsimple Trade?

Click here to create your Wealthsimple Trade account. As an exclusive registration bonus for our readers you’ll receive the equivalent cash value of a share worth $25 up to $4,500 CAD once you add funds to your account.

So What if I Still Have Additional Questions Concerning Crypto On Wealthsimple?

If this review hasn’t given you the answers to all of your questions, and you’re still searching for more specific information relating to Crypto On Wealthsimple, visit the Wealthsimple site to get answers to every one of your questions.