What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online Financial, stocks and crypto trading platform that sets itself apart from similar apps by charging absolutely no fees.
A fintech company founded in Autumn of 2014 originally as a robo advisor trading platform called Wealthsimple Invest, it has improved significantly over the previous eight years to feature Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows investors trade single stocks and ETFs without needing to pay any fees. The exception is when you’re trading stocks and ETFs which are displayed in USD. In which case, they charge a small currency conversion fee both when buying and selling. But, gone are the times of having to pay more than $7 per each trade with digital discount brokerages as was common only a few years past.
How Much Cash do I Need to Begin Investing With Wealthsimple Trade?
Wealthsimple is special such that they allow investors to make a minimum deposit of only $1. Most traditional banks and discount brokerages have large initial deposit amounts of 1K-$5,000. This makes it difficult for the every day new investor to start investing. With Wealthsimple Trade, you don’t have to be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Offer Registered Accounts?
It does. Wealthsimple Trade has both registered and non-CRA-registered account types. One are able to choose between both RRSP and TFSA accounts during the setup phase.
Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a modern mobile app that is available to download on both IOS and Google Play. The app makes the registration phase and the trading of stocks and ETFs incredibly simple.
Is Wealthsimple Trade Trustworthy?
. Wealthsimple Trade is safe. Wealthsimple has over 15 billion CAD of Assets Under Management . they’ve been in business for more than 7 years and also employs more than 600 folks. The controlling shareholder is the admired publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital brokerage operating in Canada.
So How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very straight forward to deposit to your new account. Simply connect the app to a chequing or savings account to your Trade account, and then fund your account in only a couple of steps. Deposits from banks to Wealthsimple usually take just a few days. Funds can the same way can be moved to your chequing or savings account by the exact same method.
Which Additional Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An alternative to Interac e-transfers that allow you to quickly and efficiently send money to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for this tax season and file your tax return online for free. It’s advertised as easy, accurate and always free tax filing.
Wealthsimple Spend – A combination prepaid debit card and savings account that lets you to earn 1% cashback on all your spending, as well as get a very competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that offers a bunch of courses on topics like saving, investing, crypto, real estate and much more.
All of the listed products, along with Wealthsimple Trade may be found within the app or on their website with one login.
But How Can I Get Started Using Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. As an exclusive registration bonus offer for our audience you’ll get the cash value of a random share valued at $25 up to $4,500 Canadian as soon as you make an initial deposit to your account.
But What if I Still Have Additional Questions Concerning Wealthsimple Linkedin?
If this article hasn’t answered each of your questions, and you’re searching for further info about Wealthsimple Linkedin, go to the Wealthsimple website to get answers to every one of your questions.