What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital investing, stock plus crypto trading web app that distinguishes itself from similar apps by charging no fees.
A online financial services business launched in Fall 2014 originally as a robo-advisor algorithmic automated trading app named Wealthsimple Invest, it has grown considerably over the last 8 years to feature Wealthsimple Trade, a zero fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets Canadian investors to trade single stocks and ETFs without paying any fees. The exception to this is when trading securities that are denominated in USD currency. In this case, they charge a currency conversion fee both when buying and selling. But, gone are the days of paying Upwards of $7 for each trade with online discount brokerages as was normal just a couple years ago.
How Much Cash do I Need to Start Investing With Wealthsimple Trade?
Wealthsimple is cool in that they will allow new customers to make a minimum deposit of just $1. Most traditional banks and brokerages have quite large initial deposit amounts of 1K-5K. This makes it difficult for the every day new investor to start. With Wealthsimple Trade, one doesn’t need to be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Offer Registered Accounts?
Yes. Wealthsimple Trade has available CRA registered and non-registered account types. You may choose between both RRSP and TFSA accounts in the setup process.
But Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a convenient mobile app that is available on both Apple and Android. The smartphone app makes the signup phase and the trading of stocks and ETFs truly easy.
But Is Wealthsimple Trade Safe?
For sure. Wealthsimple Trade is secure. Wealthsimple reports over 15 billion Canadian of Assets Under Management (AUM). They have been doing business for more than 7 years and also right now employs more than 600 folks. The main shareholder is the respected publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fee online brokerage to operate in Canada.
How Does One Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so simple to add money to an account. Simply connect to a chequing or savings account to your Trade account, then add money to your account in only a couple of steps. Deposits from your bank to Wealthsimple normally take just a few days. Funds can the same way can be withdrawn a chequing or savings account with the exact same steps.
What Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to E-Transfers that allows anyone to quickly and efficiently send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for this tax year and file your taxes online free. It’s described to be easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A hybrid prepaid visa and savings account that allows one to recieve 1% cashback on your spending, and also earn a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform which includes a bunch of courses on different topics such as saving, investing, crypto, mortgages and much more.
Every one of the listed features, along with Wealthsimple Trade may be found on the app or from the site with one login.
So How do I Start Using Wealthsimple Trade?
Click here to register for a new Wealthsimple Trade account. As an exclusive registration bonus for our audience you’ll get the cash value of a Canadian stock valued at up to $4,500 CAD as soon as you make an initial deposit to your account.
But What if I Still Have Questions Concerning Wealthsimple Review 600?
If this review still hasn’t answered each of your questions, and you’re still looking for additional facts relating to Wealthsimple Review 600, visit the Wealthsimple website for answers to each your questions.