What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian web based investing, securities plus crypto trading platform that distinguishes itself from its competitors by charging no fees.
A Toronto, Ontario based fintech company launched in Autumn twenty fourteen exclusively as a robo-advisor algorithmic trading platform named Wealthsimple Invest, it has changed significantly over the previous eight years to include Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets Canadian investors trade both individual stocks and ETFs without having to pay any commissions. The exception is when trading securities which are denominated in US Dollars. In that case, they charge a currency conversion fee when buying and selling. However, behind us are the times of paying $7-12 per each trade with discount brokerages as was normal only a few years ago.
How Much Cash Will I Need to Have in Order to Start on Wealthsimple Trade?
Wealthsimple is special such that they will allow Canadians to make a minimum deposit of just $1. The majority of traditional banks and discount brokerages have large initial deposit amounts of 1k-5K. This makes it tough for the normal new investor to start investing. With Wealthsimple Trade, you don’t have to already be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Have TFSA Accounts?
Yes. Wealthsimple Trade has available CRA registered and non-registered accounts. You can choose between both RRSP and TFSA accounts during the setup phase.
But Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a easy to use mobile app that is offered on both IOS and Android. The mobile app makes the signup process and also the trading of stocks and ETFs incredibly simple.
Is Wealthsimple Trade Safe?
For sure. Wealthsimple Trade is legit. Wealthsimple boasts in excess of 15 billion CAD in Assets Under Management . they’ve been operating for more than 7 years and also now employs more than 600 people. The primary owner is the publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade was the first no-fees digital brokerage to operate in Canada.
But How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so easy to deposit to your account. Simply connect a chequing or savings account with your Trade account, and then fund your account in only a couple of clicks. Deposits from banks to Wealthsimple usually take just a couple of days. Funds can the same way can be moved back to a chequing or savings accounts through the same process.
What Additional Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is equivalent to E-Transfers that allows you to quickly and simply transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for tax year and submit your tax return online free. It’s advertised as simple, accurate and always free tax filing.
Wealthsimple Spend – A hybrid prepaid visa and savings account which allows one to earn 1% cashback on your purchases, as well as get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that offers a bunch of different online courses on saving, investments, crypto, home buying and more.
All of the listed features, along with Wealthsimple Trade can be found inside the app or on the site with your Wealthsimple login.
But How Should I Start With Wealthsimple Trade?
Click here to signup for a Wealthsimple Trade account. For a special registration bonus offer for our readers you’ll get the equivalent cash value of a Canadian stock valued at up to $4,500 CAD as soon as you fund your account.
What if I Still Have Questions Concerning Wealthsimple Customer Service?
If this review hasn’t answered each of your questions, and you’re searching for more specific info about Wealthsimple Customer Service, go to the Wealthsimple website for answers to all your questions.