What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online Financial, securities plus crypto trading app that differentiates itself from similar apps by charging absolutely no fees.
A leading Canadian online financial services business founded in the Autumn of twenty fourteen originally as a robo-advisor trading platform named Wealthsimple Invest, it has changed substantially over the last eight years to also feature Wealthsimple Trade, a zero fees discount brokerage app.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets Canadian investors to trade individual stocks and also ETFs without paying fees. The exception is when trading securities which are listed in US Dollars. In which case, they charge a currency conversion fee when buying and selling. However, past us are the days of having to pay more than $7 for each trade with discount brokerages as was normal only a couple years ago.
How Much Money Will I Need to Have in Order to Get Started With Wealthsimple Trade?
Wealthsimple is unique such that they allow investors to make a minimum deposit of only $1. Most alternative banks and discount brokerages have large minimum deposit amounts of $1000-$5000. This makes it tough for the everyday new investor to get started. With Wealthsimple Trade, you don’t need to already be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Have TFSA Accounts?
Yes. Wealthsimple Trade has available both CRA registered and non-CRA-registered accounts. You can choose between both RRSP and TFSA account types during the setup phase.
But Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a modern mobile app offered to download on Apple and also Google Play. The app makes the signup phase and trading of stocks and ETFs super painless.
Is Wealthsimple Trade Trustworthy?
. Wealthsimple Trade is safe. Wealthsimple has over 15 billion CAD of Assets Under Management (AUM). they’ve been in business for more than 7 years and also right now employs about 600 people. The main owner is the admired public Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fee digital discount brokerage to operate in Canada.
How Does One Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so straight forward to deposit to an account. Simply connect the app to a chequing or savings account to your Trade account, and add funds to your account in only a couple of clicks. Deposits from financial institutions to Wealthsimple normally take just a few days. Funds can just as easily be withdrawn a chequing or savings account by using the same method.
What Other Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An equivalent to E-transfers that allow one to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for this tax year and submit your tax return online for free. It’s advertised to be easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination prepaid visa and savings product that allows one to earn 1% cashback on all your purchases, as well as get a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that includes a variety of different courses on topics like saving, investing, crypto, mortgages and more.
All of the listed features, including Wealthsimple Trade can be found in the app or on the website with your Wealthsimple login.
How Can I Get Started With Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. For a special signup bonus for our readers you’ll receive the equivalent cash value of a random share worth $25 up to $4,500 Canadian when you fund your account.
What if I Still Have Questions Concerning Wealthsimple Number?
If this article hasn’t answered each of your questions, and you’re still looking for further answers relating to Wealthsimple Number, go to the Wealthsimple website to find answers to each your questions.