What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online investing, stocks and crypto trading app that distinguishes itself from similar apps by charging absolutely no fees.
A Toronto, Ontario based online financial services company founded in Fall twenty fourteen exclusively as a robo advisor algorithmic trading app called Wealthsimple Invest, it has improved substantially over the previous eight years to feature Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows investors to trade both individual stocks and also ETFs without paying any fees. The exception is when you’re trading ETFs and stocks that are listed in USD currency. In which case, they charge a small currency conversion fee when buying and selling. However, gone are the times of having to pay Upwards of $7 for each trade with digital discount brokerages as was normal a few years ago.
How Much Money Will I Need to Start on Wealthsimple Trade?
Wealthsimple is special such that they will allow Canadians to make a minimum deposit of only $1. The majority of alternative banks and discount brokerages have quite large min deposit amounts of $1,000-$5000. This makes it hard for the every day new investor to start. With Wealthsimple Trade, one doesn’t have to already be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Offer RRSP Accounts?
It does. Wealthsimple Trade offers registered and non-CRA-registered accounts. You can choose both RRSP and TFSA accounts in the setup phase.
But Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a well designed mobile app that is offered on both iOS and Android. The smartphone app makes the enrollment phase and the trading of stocks and ETFs super easy.
Is Wealthsimple Trade Safe?
Yes. Wealthsimple Trade is legit. Wealthsimple has over 15 billion CAD of Assets Under Management . This company has been expanding for more than 7 years and now employs more than 600 Canadians. The controlling owner is the public Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fees online brokerage operating in Canada.
How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so simple to deposit to a new account. Simply connect to a chequing or savings account with your Trade account, and add funds to your account in only a few steps. Deposits from your bank to Wealthsimple normally take only a few days. Funds can the same way can be moved back to a chequing or savings accounts by using the same method.
What Other Features and Products Are Available?
Wealthsimple Cash – An alternative to Interac E-Transfers which allow you to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for this tax season and submit your taxes online for free. It’s described to be easy, accurate and always totally free tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings account which lets one to recieve 1% cashback on your everyday purchases, and also get a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform which includes a bunch of online courses on topics like saving, investments, crypto, real estate and much more.
Every one of the mentioned features, along with Wealthsimple Trade can be found on the mobile app or on their site with a single login.
How Can I Start With Wealthsimple Trade?
Click here to signup for a Wealthsimple Trade account. For an exclusive signup bonus offer for our readers you will receive the equivalent cash value of a share worth up to $4,500 CAD when you make an initial deposit to your account.
So What if I Still Have Additional Questions Concerning Wealthsimple Trade 2 Free Stocks?
If this blog post still hasn’t answered each of your questions, and you’re browsing for further information about Wealthsimple Trade 2 Free Stocks, check out the Wealthsimple website to get answers to all your questions.