What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based investing, stock plus crypto trading app that distinguishes itself from its competitors by charging absolutely no fees.
A leading Canadian online financial services company founded in Fall of 2014 exclusively as a robo-advisor automated trading platform called Wealthsimple Invest, it has evolved significantly over the previous 8 years to feature Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets consumers to trade stand alone stocks and ETFs without paying any commissions. The exception is when trading stocks and ETFs that are denominated in US Dollars. In which case, they do charge a currency conversion fee when buying and selling. But, behind us are the days of paying more than $7 for each trade with digital discount brokerages as was common just a few years past.
Exactly How Much Cash Will I Need in Order to Start Investing With Wealthsimple Trade?
Wealthsimple is special such that they allow investors to make a minimum deposit of only $1. Many traditional banks and discount brokerages have quite large min deposit amounts of $1,000-$5,000. This makes it impossible for the normal investor to start investing. With Wealthsimple Trade, one doesn’t have to be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Offer Registered Accounts?
It does. Wealthsimple Trade has registered and non-registered accounts. You are able to choose both RRSP and TFSA accounts in the setup process.
Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a easy to use mobile app that is offered to download on both IOS and also Android. The smartphone app makes the signup phase and also the trading of stocks and ETFs very a breeze.
So Is Wealthsimple Trade Safe?
Definitely. Wealthsimple Trade is trustworthy. Wealthsimple reports in excess of 15 billion Canadian in Assets Under Management . They have been in business for more than 7 years and now employs roughly 600 people. The primary owner is the public Canadian entity Power Corp of Canada. Weapthsimple Trade was the very first no-fee online brokerage operating in Canada.
But How Does One Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly easy to add money to an account. Just connect the app to a chequing or savings account with your Trade account, and add funds to your account in simply a few clicks. Deposits from banks to Wealthsimple typically take only a few days. Funds can also be withdrawn your chequing or savings account using the same method.
Which Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – An alternative to Interac e-transfers that allow anyone to quickly and easily send cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for this tax year and submit your taxes online for free. It’s described as simple, accurate and always free income tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings product that allows one to get 1% cashback on your spending, and also get a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which offers a ton of online courses on topics like saving, investing, crypto, home buying and much more.
All of the mentioned features, including Wealthsimple Trade can be found within the mobile app and from their site with a single login.
So How do I Get Started With Wealthsimple Trade?
Click here to create a Wealthsimple Trade account. As a special signup bonus for our readers you will receive the equivalent cash value of a Canadian stock worth up to $4,500 CAD once you make an initial deposit to your account.
But What if I Still Have Additional Questions Concerning Wealthsimple Personal Account Review?
If this review hasn’t given you the answers to all of your questions, and you’re browsing for more specific facts about Wealthsimple Personal Account Review, visit the Wealthsimple website to find answers to all your questions.