What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based Financial, stocks and crypto trading app that sets itself apart from its competitors by charging no fees.
A fintech business founded in the Autumn twenty fourteen exclusively as a robo advisor automated trading app called Wealthsimple Invest, it has improved significantly over the past eight years to feature Wealthsimple Trade, a zero fees discount brokerage app.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets Canadian consumers trade both single stocks and ETFs without paying fees. The exception to this is when you’re trading securities which are displayed in US Dollars. In that case, they do charge a small currency conversion fee both when buying and selling. But, gone are the days of paying Upwards of $7 per trade with online discount brokerages as was the norm only a couple years past.
How Much in Funds Will I Need in Order to Start With Wealthsimple Trade?
Wealthsimple is unique such that they will allow new customers to make a minimum deposit of just $1. Many alternative banks and discount brokerages have quite large minimum deposit amounts of 1k-5k. This makes it impossible for the every day investor to start investing. With Wealthsimple Trade, one doesn’t have to already be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Have TFSA Accounts?
Of course. Wealthsimple Trade has both registered and non-registered account types. One are able to choose between both RRSP and TFSA accounts in the setup process.
Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a modern mobile app available to download on both iOS and also Google Play. The app makes the signup phase and also the trading of stocks and ETFs super easy.
Is Wealthsimple Trade Trustworthy?
Yes. Wealthsimple Trade is legit. Wealthsimple has in excess of 15 billion Canadian in Assets Under Management (AUM). These folks have been in business for more than 7 years and also right now employs about 600 folks. The majority shareholder is the large public Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fee online brokerage to operate in Canada.
So How Do I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very simple to fund your account. Just connect a chequing or savings account with your Trade account, and then fund your account in only a couple of steps. Deposits from banks to Wealthsimple usually take only a couple of days. Funds can also be moved to a chequing or savings accounts using the exact same method.
What Additional Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An alternative to Interac e-transfers which allow you to quickly and efficiently transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for tax season and file your tax return online free. It’s described to be simple, accurate and always totally free income tax filing.
Wealthsimple Spend – A hybrid pre paid visa and savings product that lets one to get 1% cashback on all your everyday spending, and also get a very competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform which includes a bunch of courses on topics like saving, investments, crypto, mortgages and more.
Each of the above features, along with Wealthsimple Trade can be found within the mobile app and on the site with one login.
How Can I Start Using Wealthsimple Trade?
Click here to signup for a new Wealthsimple Trade account. For a special signup bonus for our audience you will receive the equivalent cash value of a random Canadian stock valued at $25 up to $4,500 CAD once you add funds to your account.
What if I Still Have Questions Concerning Empower Wealthsimple?
If this article hasn’t given you the answers to each of your questions, and you’re looking for more specific facts relating to Empower Wealthsimple, check out the Wealthsimple site to get answers to all your questions.