What is Wealthsimple?
Wealthsimple is a simple to use Canadian digital investing, securities plus crypto trading app that sets itself apart from similar apps by charging absolutely no fees.
A online financial services business founded in the Fall of 2014 originally as a robo advisor algorithmic automated trading app called Wealthsimple Invest, it has improved significantly over the past eight years to feature Wealthsimple Trade, a no fees discount brokerage platform.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets investors to trade both single stocks and ETFs without having to pay fees. The exception to this is when you’re trading ETFs and stocks which are listed in US Dollars. In that case, they charge a small currency conversion fee both when buying and selling. But, behind us are the days of having to pay $7-12 per each trade with discount brokerages as was normal only a few years past.
How Much in Funds Will I Need to Have to Begin Investing With Wealthsimple Trade?
Wealthsimple is special in that they will allow Canadian investors to make a minimum deposit of just $1. Many alternative banks and brokerages have large minimum deposit amounts of $1,000-$5,000. This makes it difficult for the everyday investor to start investing. With Wealthsimple Trade, you don’t have to be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Offer TFSA Accounts?
Of course. Wealthsimple Trade offers CRA registered and non-CRA-registered account types. You are able to select both RRSP and TFSA account types during the setup process.
So Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a convenient mobile app that is available on both IOS and also Google Play. The mobile app makes the registration process and the trading of stocks and ETFs incredibly simple.
But Is Wealthsimple Trade Secure?
Most definitely. Wealthsimple Trade is trustworthy. Wealthsimple reports over 15 billion Canadian in Assets Under Management (AUM). This company has been in business for more than 7 years and also at this time employs about 600 Canadians. The primary shareholder is the respected public Canadian entity Power Corp of Canada. Weapthsimple Trade was the very first no-fee online brokerage operating in Canada.
How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite easy to fund a new account. Just connect a chequing or savings account to your Trade account, and then add money to your account in simply a couple of steps. Deposits from financial institutions to Wealthsimple usually take a few days. Funds can also be moved to a chequing or savings account by the exact same process.
What Other Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is alternative to e-Transfers that allows anyone to quickly and simply send cash 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 as easy, accurate and always totally free income tax filing.
Wealthsimple Spend – A combination prepaid visa and savings product which allows you to earn 1% cashback on your everyday purchases, as well as get a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform which includes a variety of different courses on different topics such as saving, investments, crypto, real estate and much more.
Each of the mentioned features, along with Wealthsimple Trade may be found within the mobile app and on their site with a single login.
How do I Get Started With Wealthsimple Trade?
Click here to signup for a Wealthsimple Trade account. As a special signup bonus offer to our audience you’ll receive the cash value of a random stock valued at $25 up to $4,500 CAD as soon as you make an initial deposit to your account.
What if I Still Have Additional Questions Concerning Does Wealthsimple Have Options?
If this blog post didn’t given you the answers to each of your questions, and you’re browsing for additional specific info relating to Does Wealthsimple Have Options, check out the Wealthsimple site to find answers to every one of your questions.