What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based Financial, stocks plus crypto trading web app that distinguishes itself from its competitors by charging no fees.
A Toronto, Ontario based fintech company founded in Autumn of 2014 originally as a robo-advisor algorithmic automated trading platform named Wealthsimple Invest, it has grown substantially over the previous eight years to include Wealthsimple Trade, a no fee discount brokerage app.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets investors trade individual stocks and also ETFs without having to pay any commissions. The exception to this is when trading stocks that are displayed in USD. In which case, they charge a small currency conversion fee both when buying and selling. However, past us are the days of having to pay Upwards of $7 per each trade with online discount brokerages as was expected a couple years past.
How Much Money Will I Need in Order to Start Investing With Wealthsimple Trade?
Wealthsimple is cool in that they will allow Canadians to make a minimum deposit of only $1. Most alternative banks and brokerages have sizeable minimum deposit amounts of $1000-$5,000. This makes it tough for the typical new investor to start. With Wealthsimple Trade, you won’t need to be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Offer TFSA Accounts?
Yes. Wealthsimple Trade has both CRA registered and non-registered account types. One may choose both RRSP and TFSA accounts during the setup process.
So Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a convenient mobile app that is offered on both iOS and Google Play. The smartphone app makes the enrollment phase and also trading of stocks and ETFs truly painless.
So Is Wealthsimple Trade Trustworthy?
Yes. Wealthsimple Trade is trustworthy. Wealthsimple boasts more than 15 billion CAD of Assets Under Management (AUM). they’ve been expanding for more than 7 years and employs about 600 people. The controlling shareholder is the admired publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade is the very first no-fees digital discount brokerage to operate in Canada.
So How Can I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so straight forward to add money to your new account. Just connect a chequing or savings account to your Trade account, and fund your account in just a few clicks. Deposits from financial institutions to Wealthsimple typically take only a few days. Funds can also be moved back to your chequing or savings account by the same method.
Which Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An alternative to E-transfers which allow anyone to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for this tax season and file your taxes online free. It’s described to be easy, accurate and always free income tax filing.
Wealthsimple Spend – A combination prepaid visa and savings product which lets you to earn 1% cashback on your purchases, as well as get a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that offers a ton of different courses on saving, investing, crypto, mortgages and much more.
Every one of the listed features, along with Wealthsimple Trade can be found inside the mobile app and at their website with a single login.
So How Can I Get Started With Wealthsimple Trade?
Click here to signup for a new Wealthsimple Trade account. For an exclusive registration bonus offer for our readers you will get the equivalent cash value of a random share valued at $25 up to $4,500 CAD as soon as you add funds to your account.
So What if I Still Have Additional Questions Concerning Wealthsimple 2fa?
If this blog post hasn’t answered all of your questions, and you’re still browsing for additional specific information about Wealthsimple 2fa, go to the Wealthsimple site for answers to each your questions.