What is Wealthsimple?
Wealthsimple is an easy to use Canadian online investing, stock and crypto trading app that distinguishes itself from its competitors by charging no fees.
A fintech company launched in Autumn 2014 exclusively as a robo advisor trading platform called Wealthsimple Invest, it has improved substantially over the previous 8 years to also include Wealthsimple Trade, a zero fees discount brokerage platform.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets investors to trade both stand alone stocks and also ETFs without having to pay any fees. The exception is when you’re trading stocks that are denominated in USD currency. In that case, they do charge a small currency conversion fee when buying and selling. However, past us are the days of having to pay $7-12 per each trade with discount brokerages as was normal only a couple years past.
How Much Cash do I Need to Have in Order to Start Investing on Wealthsimple Trade?
Wealthsimple is awesome in that they will allow new customers to make a minimum deposit of only $1. The majority of traditional banks and discount brokerages have sizeable initial deposit amounts of $1,000-$5000. This makes it difficult for the common 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?
Of course. Wealthsimple Trade has available registered and non-CRA-registered accounts. You are able to select between both RRSP and TFSA accounts during the setup process.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a convenient mobile app offered to download on iOS and also Google Play. The mobile app makes the signup phase and the trading of stocks and ETFs simple.
Is Wealthsimple Trade Safe?
Most definitely. Wealthsimple Trade is trustworthy. Wealthsimple reports more than 15 billion Canadian in Assets Under Management (AUM). They have been doing business for more than 7 years and also currently employs roughly 600 Canadians. The controlling shareholder is the admired public Canadian entity Power Corp of Canada. Weapthsimple Trade was the very first no-fee online brokerage operating in Canada.
So How Can I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it simple to add money to an account. Simply connect a chequing or savings account to your Trade account, and then add money to your account in only a couple of steps. Deposits from banks to Wealthsimple usually take only a few days. Funds can just as easily be moved to a chequing or savings account using the exact same steps.
Which Other Benefits and Products Are Available?
Wealthsimple Cash – An alternative to Interac e-transfers which allow anyone to quickly and easily transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for this tax season and submit your taxes online free. It’s described to be easy, accurate and always totally free tax filing.
Wealthsimple Spend – A combination pre paid visa and savings product which allows one to recieve 1% cashback on your purchases, as well as earn a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform which offers a ton of courses on different topics such as saving, investing, crypto, mortgages and more.
All of the listed features, including Wealthsimple Trade can be accessed inside the app or on the site with one login.
So How do I Begin With Wealthsimple Trade?
Click here to signup for a new Wealthsimple Trade account. For a special registration bonus to our readers you will get the equivalent cash value of a share worth up to $4,500 Canadian when you fund your account.
What if I Still Have Additional Questions Related to Wealthsimple Dividend Stocks?
If this article still hasn’t given you the answers to all of your questions, and you’re looking for more facts relating to Wealthsimple Dividend Stocks, go to the Wealthsimple website to get answers to every one of your questions.