What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian web based Financial, stocks and crypto trading web app that sets itself apart from similar apps by charging absolutely no fees.
A leading Canadian online financial services business launched in Fall 2014 exclusively as a robo advisor trading app called Wealthsimple Invest, it has improved significantly over the past 8 years to include Wealthsimple Trade, a no fees discount brokerage app.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets investors to trade both individual stocks and also ETFs without paying any fees. The exception to this is when you’re trading ETFs and stocks which are displayed in USD. In this case, they will charge a nominal currency conversion fee both when buying and selling. But, past us are the days of paying more than $7 per each trade with online discount brokerages as was expected just a few years ago.
Exactly How Much Cash do I Need in Order to Start Investing With Wealthsimple Trade?
Wealthsimple is special such that they allow Canadian investors to make a minimum deposit of only $1. Many traditional banks and discount brokerages have large initial deposit amounts of 1K-5k. This makes it impossible for the typical investor to start. With Wealthsimple Trade, you don’t need to already be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Offer Registered Accounts?
It does. Wealthsimple Trade has available both CRA registered and non-CRA-registered account types. One are free to choose between both RRSP and TFSA accounts in the setup process.
So Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a well designed mobile app available to download on both IOS and Android. The app makes the enrollment process and trading of stocks and ETFs very painless.
Is Wealthsimple Trade Legit?
Definitely. Wealthsimple Trade is trustworthy. Wealthsimple reports more than 15 billion Canadian of Assets Under Management (AUM). They have been doing business for more than 7 years and also currently employs over 600 folks. The controlling shareholder is the public Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fees online discount brokerage to operate in Canada.
How Does One Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite easy to deposit to your new account. Simply connect the app to a chequing or savings account with your Trade account, and then add funds to your account in just a couple of steps. Deposits from your bank to Wealthsimple typically take a couple of days. Funds can also be moved to your chequing or savings accounts through the same method.
What Other Features and Products Are Available?
Wealthsimple Cash – This is alternative to E-Transfers that allows you to quickly and efficiently send cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for tax season and file your tax return online for free. It’s described to be easy, accurate and always free tax return filing.
Wealthsimple Spend – A combination prepaid visa and savings product which allows you to recieve 1% cashback on all your everyday purchases, as well as get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform which offers a ton of different online courses on saving, investments, crypto, mortgages and more.
Each of the mentioned features, along with Wealthsimple Trade may be found within the mobile app and at their site with one login.
How do I Begin With Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. For an exclusive registration bonus to our readers you’ll receive the cash value of a random share valued at $25 up to $4,500 CAD as soon as you fund your account.
So What if I Still Have Questions Related to Wealthsimple Salary?
If this article didn’t given you the answers to each of your questions, and you’re still looking for further answers about Wealthsimple Salary, visit the Wealthsimple website for answers to each your questions.