What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian online investing, stock and crypto trading web app that distinguishes itself from the competition by charging no fees.
A leading Canadian fintech business founded in Autumn 2014 exclusively as a robo advisor trading platform named Wealthsimple Invest, it has evolved significantly over the last 8 years to include Wealthsimple Trade, a zero fees discount brokerage app.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets Canadian investors trade both stand alone stocks and ETFs without paying fees. The exception is when you’re trading ETFs and stocks which are denominated in USD currency. In that case, they do charge a nominal currency conversion fee when buying and selling. However, behind us are the times of having to pay $7-12 per each trade with discount brokerages as was the norm a couple years ago.
How Much Cash do I Need in Order to Begin Investing on Wealthsimple Trade?
Wealthsimple is special such that they allow new customers to make a minimum deposit of just $1. Most alternative banks and discount brokerages have sizeable initial deposit amounts of $1,000-5K. This makes it hard for the typical new investor to start investing. With Wealthsimple Trade, you don’t have to be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Have TFSA Accounts?
Of course. Wealthsimple Trade offers CRA registered and non-CRA-registered account types. You are able to choose both RRSP and TFSA accounts in the setup phase.
So Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a well designed mobile app available on both Apple and also Android. The mobile app makes the signup process and trading of stocks and ETFs truly a breeze.
Is Wealthsimple Trade Secure?
For sure. Wealthsimple Trade is trustworthy. Wealthsimple boasts more than 15 billion CAD of Assets Under Management . This company has been operating for more than 7 years and right now employs about 600 people. The controlling owner is the respected publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fee online brokerage to operate in Canada.
But How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly easy to fund a new account. Just connect a chequing or savings account to your Trade account, then add money to your account in only a few clicks. Deposits from banks to Wealthsimple normally take just a couple of days. Funds can also be moved back to your chequing or savings account by using the exact same method.
Which Additional Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An alternative to E-Transfers which allows you to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for tax year and submit your taxes online free. It’s pitched to be easy, accurate and always totally free tax filing.
Wealthsimple Spend – A combination pre paid debit card and savings product which lets you to get 1% cashback on your purchases, as well as earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform which offers a bunch of different courses on different topics such as saving, investing, crypto, real estate and more.
Each of the mentioned products, along with Wealthsimple Trade can be found in the app or at their website with your Wealthsimple login.
But How Should I Start Using Wealthsimple Trade?
Click here to setup a new Wealthsimple Trade account. For an exclusive signup bonus for our readers you will get the cash value of a stock valued at up to $4,500 CAD once you add funds to your account.
So What if I Still Have Questions Related to Wealthsimple 3 Free Stocks?
If this article still hasn’t answered all of your questions, and you’re still searching for additional specific facts about Wealthsimple 3 Free Stocks, go to the Wealthsimple website for answers to each your questions.