What is Wealthsimple?
Wealthsimple is an easy to use Canadian online Financial, stock and crypto trading web app that sets itself apart from similar apps by charging absolutely no fees.
A Toronto, Ontario based online financial services business launched in Fall 2014 originally as a robo advisor algorithmic automated trading platform named Wealthsimple Invest, it has grown substantially over the previous 8 years to also include Wealthsimple Trade, a no fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows investors trade individual stocks and ETFs without paying any commissions. The exception is when trading ETFs and stocks that are displayed in USD currency. In this case, they will charge a currency conversion fee both when buying and selling. However, gone are the times of paying Upwards of $7 per trade with discount brokerages as was the norm just a few years past.
How Much in Funds do I Need to Have in Order to Start Investing on Wealthsimple Trade?
Wealthsimple is cool such that they allow investors to make a minimum deposit of just $1. The majority of traditional banks and brokerages have sizeable minimum deposit amounts of $1000-$5,000. This makes it hard for the normal investor to start investing. With Wealthsimple Trade, you don’t need to already be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Offer Registered Accounts?
Of course. Wealthsimple Trade has both CRA registered and non-CRA-registered account types. One may select both RRSP and TFSA account types during the setup process.
So Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a convenient mobile app that is offered to download on both IOS and Google Play. The smartphone app makes the enrollment steps and trading of stocks and ETFs easy.
Is Wealthsimple Trade Trustworthy?
Of course. Wealthsimple Trade is trustworthy. Wealthsimple boasts in excess of 15 billion Canadian of Assets Under Management . they’ve been doing business for more than 7 years and right now employs more than 600 people. The controlling shareholder is the large publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital discount brokerage operating in Canada.
How Does One Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite simple to deposit to your account. Just connect a chequing or savings account with your Trade account, then add money to your account in just a couple of steps. Deposits from your bank to Wealthsimple usually take a couple of days. Funds can the same way can be moved to your chequing or savings account by using the exact same method.
Which Other Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An equivalent to E-Transfers which allow one to quickly and efficiently send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for this tax season and file your taxes online free. It’s described as simple, accurate and always free income tax filing.
Wealthsimple Spend – A combination prepaid debit card and savings account that lets one to recieve 1% cashback on your purchases, and also get a very competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that includes a variety of different online courses on different topics such as saving, investing, crypto, mortgages and more.
Each of the mentioned features, along with Wealthsimple Trade may be accessed in the mobile app and on the site with your Wealthsimple login.
How Can I Get Started With Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. As an exclusive signup bonus offer for our readers you’ll get the equivalent cash value of a random Canadian stock valued at $25 up to $4,500 Canadian once you fund your account.
But What if I Still Have Questions Concerning Wealthsimple Board Of Directors?
If this blog post hasn’t given you the answers to each of your questions, and you’re browsing for further specific answers about Wealthsimple Board Of Directors, visit the Wealthsimple site to find answers to each your questions.