What is Wealthsimple?
Wealthsimple is a simple to use Canadian web based Financial, stock and crypto trading platform that differentiates itself from similar apps by charging no fees.
A leading Canadian online financial services company launched in the Autumn 2014 exclusively as a robo advisor trading platform named Wealthsimple Invest, it has improved considerably over the past 8 years to include Wealthsimple Trade, a zero fees discount brokerage service.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets Canadian consumers to trade single stocks and also ETFs without paying any commissions. The exception is when you’re trading stocks and ETFs which are denominated in US Dollars. In which case, they do charge a nominal currency conversion fee both when buying and selling. But, behind us are the times of having to pay more than $7 for each trade with digital discount brokerages as was common just a couple years ago.
How Much Cash Will I Need to Get Started on Wealthsimple Trade?
Wealthsimple is special such that they will allow investors to make a minimum deposit of only $1. Many traditional banks and discount brokerages have large minimum deposit amounts of 1K-5k. This makes it hard for the typical new investor to start investing. With Wealthsimple Trade, you don’t need to already be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Have RRSP Accounts?
Of course. Wealthsimple Trade has registered and non-registered account types. One are able to select between both RRSP and TFSA account types during the setup process.
So Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a well designed mobile app that is available on iOS and also Google Play. The mobile app makes the signup process and trading of stocks and ETFs super painless.
But Is Wealthsimple Trade Secure?
Yes. Wealthsimple Trade is legit. Wealthsimple boasts over 15 billion CAD in Assets Under Management (AUM). they’ve been in business for more than 7 years and currently employs roughly 600 people. The main shareholder is the large publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade is the first no-fees digital discount brokerage to operate in Canada.
So How Can I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite simple to add funds to an account. Just connect to a chequing or savings account to your Trade account, then add money to your account in just a few clicks. Deposits from banks to Wealthsimple normally take just a couple of days. Funds can the same way can be moved back to your chequing or savings accounts through the exact same method.
What Other Benefits and Products Are Available?
Wealthsimple Cash – This is alternative to Interac E-transfers which allow one to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for this tax year and submit your tax return online free. It’s described to be easy, accurate and always free income tax filing.
Wealthsimple Spend – A hybrid pre paid visa and savings product which lets one to get 1% cashback on your everyday purchases, as well as earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that includes a ton of courses on topics like saving, investing, crypto, mortgages and much more.
Each of the mentioned features, along with Wealthsimple Trade can be accessed in the mobile app and on the website with one login.
How Should I Start Using Wealthsimple Trade?
Click here to signup for a Wealthsimple Trade account. For an exclusive registration bonus for our audience you will get the cash value of a random Canadian stock valued at up to $4,500 Canadian once you fund your account.
What if I Still Have Additional Questions About Wealthsimple Instant Deposit $1 000?
If this article hasn’t answered all of your questions, and you’re looking for further specific information about Wealthsimple Instant Deposit $1 000, check out the Wealthsimple site to find answers to all your questions.