What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based investing, stock and crypto trading app that sets itself apart from other apps by charging absolutely no fees.
A Toronto, Ontario based fintech company launched in the Autumn 2014 exclusively as a robo-advisor algorithmic trading platform named Wealthsimple Invest, it has changed significantly over the past 8 years to include Wealthsimple Trade, a no fees discount brokerage platform.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows Canadian consumers trade both single stocks and also ETFs without paying any fees. The exception is when trading stocks that are denominated in USD. In which case, they charge a currency conversion fee when buying and selling. But, gone are the days of having to pay $7-12 for each trade with discount brokerages as was the case only a few years ago.
Exactly How Much Cash do I Need to Get Started With Wealthsimple Trade?
Wealthsimple is cool such that they will allow Canadians to make a minimum deposit of just $1. Most alternative banks and discount brokerages have quite large min deposit amounts of $1,000-$5,000. This makes it impossible for the typical new investor to start investing. With Wealthsimple Trade, one doesn’t have to already be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Offer TFSA Accounts?
Of course. Wealthsimple Trade offers CRA registered and non-registered account types. You may choose between both RRSP and TFSA accounts during the setup wizard.
Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a convenient mobile app offered to download on both IOS and Android. The mobile app makes the signup phase and trading of stocks and ETFs truly simple.
Is Wealthsimple Trade Safe?
. Wealthsimple Trade is secure. Wealthsimple boasts over 15 billion Canadian of Assets Under Management (AUM). they’ve been in business for more than 7 years and right now employs over 600 folks. The main shareholder is the respected public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fees digital brokerage operating in Canada.
So How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very straight forward to fund your account. Just connect the app to a chequing or savings account to your Trade account, and add money to your account in only a few clicks. Deposits from your bank to Wealthsimple normally take only a couple of days. Funds can the same way can be withdrawn a chequing or savings account with the same steps.
Which Additional Features and Products Are Available?
Wealthsimple Cash – An alternative to E-transfers that allows you to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for tax season and submit your taxes online for free. It’s pitched to be easy, accurate and always totally free income tax filing.
Wealthsimple Spend – A combination pre paid debit card and savings product which lets one to recieve 1% cashback on your spending, and also earn a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform which offers a variety of different online courses on different topics such as saving, investments, crypto, home buying and more.
All of the listed products, including Wealthsimple Trade may be accessed within the app or on their site with your Wealthsimple login.
But How do I Begin Using Wealthsimple Trade?
Click here to signup for a new Wealthsimple Trade account. As a special signup bonus offer for our audience you will receive the equivalent cash value of a share valued at up to $4,500 CAD when you add funds to your account.
What if I Still Have Additional Questions About Wealthsimple Trade $25?
If this blog post didn’t answered all of your questions, and you’re searching for additional specific information about Wealthsimple Trade $25, visit the Wealthsimple website to find answers to all your questions.