What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian digital Financial, stock and crypto trading platform that sets itself apart from other apps by charging no fees.
A leading Canadian fintech business launched in Fall 2014 exclusively as a robo-advisor trading platform called Wealthsimple Invest, it has changed significantly over the past eight years to also feature Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows consumers trade individual stocks and ETFs without paying any fees. The exception to this is when you’re trading ETFs and stocks that are displayed in US Dollars. In which case, they do charge a small currency conversion fee when buying and selling. However, behind us are the times of paying Upwards of $7 for each trade with digital discount brokerages as was common a couple years ago.
How Much Money do I Need in Order to Begin Investing With Wealthsimple Trade?
Wealthsimple is awesome such that they will allow Canadians to make a minimum deposit of just $1. Most alternative banks and brokerages have large min deposit amounts of $1,000-5K. This makes it hard for the common investor to start. With Wealthsimple Trade, one doesn’t have to be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Offer Registered Accounts?
Yes. Wealthsimple Trade offers both registered and non-registered account types. You are free to choose between both RRSP and TFSA accounts during the setup phase.
But Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a easy to use mobile app offered to download on IOS and also Google Play. The app makes the signup phase and trading of stocks and ETFs incredibly simple.
Is Wealthsimple Trade Secure?
For sure. Wealthsimple Trade is legit. Wealthsimple has over 15 billion CAD of Assets Under Management . These folks have been doing business for more than 7 years and employs more than 600 folks. The primary owner is the public Canadian entity Power Corp of Canada. Weapthsimple Trade is the very first no-fee online brokerage to operate in Canada.
But How Can I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite simple to add money to a new account. Simply connect a chequing or savings account to your Trade account, and then add funds to your account in simply a few steps. Deposits from banks to Wealthsimple normally take a couple of days. Funds can also be moved to a chequing or savings accounts with the same method.
Which Other Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An equivalent to Interac E-transfers that allows anyone to quickly and easily send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for tax year and file your taxes online free. It’s pitched to be simple, accurate and always free income tax filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings product which lets you to earn 1% cashback on your everyday purchases, and also earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which includes a variety of courses on different topics such as saving, investing, crypto, real estate and more.
Every one of the listed features, including Wealthsimple Trade may be accessed on the mobile app or from their site with one login.
How Should I Begin Using Wealthsimple Trade?
Click here to signup for a Wealthsimple Trade account. As an exclusive registration bonus offer for our readers you’ll get the equivalent cash value of a random share valued at $25 up to $4,500 CAD when you add funds to your account.
So What if I Still Have Additional Questions Concerning New Listing On Wealthsimple Trade?
If this article still hasn’t answered each of your questions, and you’re still looking for additional info relating to New Listing On Wealthsimple Trade, go to the Wealthsimple website to get answers to each your questions.