Mer Wealthsimple

What is Wealthsimple?

Wealthsimple is a simple to use Canadian web based investing, stocks plus crypto trading web app that distinguishes itself from the competition by charging no fees.

A leading Canadian online financial services company launched in the Fall 2014 originally as a robo-advisor algorithmic automated trading app called Wealthsimple Invest, it has improved significantly over the past 8 years to also include Wealthsimple Trade, a zero fee discount brokerage service.

Does Wealthsimple Trade Charge Fees?

Wealthsimple Trade allows consumers to trade both single stocks and also ETFs without paying any commissions. The exception is when trading stocks that 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 paying Upwards of $7 per each trade with digital discount brokerages as was the norm a few years past.

How Much in Funds do I Need to Have to Start With Wealthsimple Trade?

Wealthsimple is cool such that they will allow Canadian investors to make a minimum deposit of just $1. Most traditional banks and brokerages have large min deposit amounts of $1,000-$5,000. This makes it impossible for the every day new investor to get started. With Wealthsimple Trade, you won’t need to be wealthy to start trading stocks and ETFs.

Does Wealthsimple Trade Offer TFSA Accounts?

They do. Wealthsimple Trade has available both registered and non-CRA-registered accounts. You are free to select both RRSP and TFSA account types in the setup wizard.

Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade has a modern mobile app that is available to download on iOS and also Google Play. The smartphone app makes the signup steps and also trading of stocks and ETFs painless.

Is Wealthsimple Trade Trustworthy?

Definitely. Wealthsimple Trade is secure. Wealthsimple reports more than 15 billion Canadian of Assets Under Management (AUM). These folks have been doing business for more than 7 years and at this time employs over 600 folks. The main shareholder is the admired public Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fees digital discount brokerage operating in Canada.

So How Do I Add Money to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it incredibly easy to deposit to your new account. Simply connect the app to a chequing or savings account with your Trade account, and then add funds to your account in only a few clicks. Deposits from your bank to Wealthsimple normally take a couple of days. Funds can the same way can be withdrawn a chequing or savings account by the same method.

Which Other Features and Products Are Offered by Wealthsimple?

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

Wealthsimple Tax – Everything you’ll require to get ready for tax season and submit your tax return online for free. It’s advertised to be easy, accurate and always free income tax filing.

Wealthsimple Spend – A hybrid prepaid visa and savings account which allows one to earn 1% cashback on all your purchases, and also get a very competitive 1.5% interest rate on savings.

Personal Finance 101 – Wealthsimple’s free personal finance platform which offers a variety of courses on different topics such as saving, investments, crypto, real estate and more.

All of the mentioned products, including Wealthsimple Trade can be found on the mobile app or from the site with one login.

How Can I Begin With Wealthsimple Trade?

Click here to signup for a new Wealthsimple Trade account. For a special signup bonus to our readers you will get the equivalent cash value of a random Canadian stock valued at up to $4,500 CAD as soon as you make an initial deposit to your account.

But What if I Still Have Questions Related to Mer Wealthsimple?

If this article still hasn’t given you the answers to all of your questions, and you’re still browsing for further specific information about Mer Wealthsimple, visit the Wealthsimple site to find answers to every one of your questions.