What is Wealthsimple?
Wealthsimple is an easy to use Canadian online investing, securities and crypto trading app that distinguishes itself from the competition by charging no fees.
A fintech business founded in Fall of twenty fourteen originally as a robo-advisor algorithmic trading platform called Wealthsimple Invest, it has improved considerably over the last 8 years to also include Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows Canadian consumers trade both single stocks and also ETFs without having to pay any commissions. The exception is when trading stocks which are displayed in US Dollars. In that case, they will charge a small currency conversion fee when buying and selling. But, past us are the times of paying more than $7 per trade with digital discount brokerages as was the case a couple years past.
How Much Money Will I Need to Begin Investing on Wealthsimple Trade?
Wealthsimple is cool in that they allow Canadians to make a minimum deposit of just $1. Many alternative banks and discount brokerages have sizeable initial deposit amounts of 1K-5K. This makes it hard for the everyday investor to start investing. With Wealthsimple Trade, one doesn’t need to already be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Have TFSA Accounts?
Yes. Wealthsimple Trade has available both registered and non-registered accounts. You are free to select both RRSP and TFSA account types during the setup wizard.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a well designed mobile app that is available to download on both Apple and also Google Play. The mobile app makes the registration process and also trading of stocks and ETFs truly painless.
Is Wealthsimple Trade Secure?
Yes. Wealthsimple Trade is trustworthy. Wealthsimple boasts over 15 billion CAD in Assets Under Management (AUM). They have been expanding for more than 7 years and right now employs over 600 Canadians. The primary shareholder is the public Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fee online brokerage operating in Canada.
So How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly simple to deposit to an 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 clicks. Deposits from your bank to Wealthsimple usually take only a couple of days. Funds can the same way can be moved back to your chequing or savings accounts using the same steps.
What Additional Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to E-transfers that allow one to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for tax year and file your taxes online for free. It’s described as simple, accurate and always free income tax filing.
Wealthsimple Spend – A combination prepaid visa and savings account which lets one to recieve 1% cashback on all your spending, as well as get a very 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 online courses on saving, investing, crypto, mortgages and more.
Each of the mentioned features, along with Wealthsimple Trade may be found within the app or from the website with a single login.
But How Should I Start With Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. For an exclusive signup bonus for our audience you will get the cash value of a random Canadian stock worth $25 up to $4,500 Canadian as soon as you make an initial deposit to your account.
What if I Still Have Additional Questions Concerning Wealthsimple Trackid=sp-006?
If this review didn’t given you the answers to each of your questions, and you’re still browsing for additional facts relating to Wealthsimple Trackid=sp-006, visit the Wealthsimple website to get answers to all your questions.