What is Wealthsimple?
Wealthsimple is an easy to use Canadian online investing, stocks plus crypto trading web app that distinguishes itself from similar apps by charging no fees.
A Toronto, Ontario based online financial services business launched in Autumn of twenty fourteen exclusively as a robo advisor algorithmic trading app called Wealthsimple Invest, it has evolved substantially over the past 8 years to also feature Wealthsimple Trade, a no fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows investors to trade both individual stocks and also ETFs without having to pay any fees. The exception is when you’re trading securities that are listed in USD. In which case, they charge a small currency conversion fee when buying and selling. However, gone are the times of paying Upwards of $7 per trade with digital discount brokerages as was the case just a couple years past.
How Much Cash Will I Need to Begin Investing on Wealthsimple Trade?
Wealthsimple is awesome such that they will allow new customers to make a minimum deposit of just $1. Most alternative banks and discount brokerages have quite large minimum deposit amounts of $1000-$5,000. This makes it hard for the everyday new investor to start investing. With Wealthsimple Trade, you don’t have to already be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Offer Registered Accounts?
Of course. Wealthsimple Trade has available registered and non-CRA-registered accounts. One can select both RRSP and TFSA accounts in the setup wizard.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a convenient mobile app available on both IOS and Google Play. The mobile app makes the registration steps and the trading of stocks and ETFs super a breeze.
Is Wealthsimple Trade Secure?
Most definitely. Wealthsimple Trade is trustworthy. Wealthsimple boasts more than 15 billion CAD of Assets Under Management (AUM). They have been expanding for more than 7 years and now employs more than 600 Canadians. The primary shareholder is the large public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fees online brokerage to operate in Canada.
How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it straight forward to add funds to an account. Simply connect the app to a chequing or savings account with your Trade account, then fund your account in just a few steps. Deposits from financial institutions to Wealthsimple normally take only a couple of days. Funds can just as easily be moved back to your chequing or savings account using the same process.
What Additional Features and Products Are Available?
Wealthsimple Cash – This is alternative to e-transfers which allows one to quickly and efficiently send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for tax season and submit your tax return online free. It’s described to be easy, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid prepaid visa and savings account that allows one to earn 1% cashback on all your spending, as well as get a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform that offers a variety of different courses on different topics such as saving, investments, crypto, mortgages and much more.
All of the mentioned features, including Wealthsimple Trade can be found within the app and at their website with one login.
So How Should I Begin Using Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. As an exclusive signup bonus for our readers you’ll get the equivalent cash value of a share valued at $25 up to $4,500 Canadian when you add funds to your account.
So What if I Still Have Additional Questions Concerning Wealthsimple Trade Fees Crypto?
If this article didn’t given you the answers to each of your questions, and you’re looking for additional specific answers about Wealthsimple Trade Fees Crypto, check out the Wealthsimple site for answers to every one of your questions.