What is Wealthsimple?
Wealthsimple is an easy to use Canadian online investing, stocks plus crypto trading app that differentiates itself from other apps by charging absolutely no fees.
A Toronto, Ontario based online financial services business founded in Autumn 2014 originally as a robo advisor algorithmic trading app named Wealthsimple Invest, it has changed substantially over the past 8 years to feature Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows investors trade single stocks and ETFs without paying any fees. The exception is when trading stocks which are listed in US Dollars. In that case, they charge a nominal currency conversion fee both when buying and selling. However, behind us are the days of having to pay Upwards of $7 for each trade with digital discount brokerages as was common a few years past.
Exactly How Much Cash Will I Need in Order to Start With Wealthsimple Trade?
Wealthsimple is special such that they allow Canadian investors to make a minimum deposit of just $1. Most alternative banks and brokerages have large min deposit amounts of 1K-$5000. This makes it difficult for the every day new investor to start. With Wealthsimple Trade, one doesn’t have to already be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Have TFSA Accounts?
They do. Wealthsimple Trade has both CRA registered and non-registered account types. One may select both RRSP and TFSA accounts in the setup phase.
So Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a convenient mobile app that is offered to download on Apple and Android. The smartphone app makes the registration process and trading of stocks and ETFs super simple.
But Is Wealthsimple Trade Safe?
. Wealthsimple Trade is trustworthy. Wealthsimple boasts over 15 billion Canadian in Assets Under Management (AUM). they’ve been expanding for more than 7 years and at this time employs about 600 folks. The primary owner is the admired publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fees digital brokerage operating in Canada.
So How Can I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very straight forward to fund an account. Just connect the app to a chequing or savings account to your Trade account, then fund your account in simply a couple of steps. Deposits from financial institutions to Wealthsimple normally take just a few days. Funds can the same way can be moved to your chequing or savings accounts by using the exact same process.
Which Additional Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is alternative to Interac E-Transfers that allow anyone to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for this tax year and file your tax return online free. It’s advertised to be simple, accurate and always totally free tax filing.
Wealthsimple Spend – A hybrid prepaid visa and savings account which lets one to earn 1% cashback on all your everyday purchases, and also get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform which offers a ton of online courses on saving, investments, crypto, mortgages and much more.
All of the above products, including Wealthsimple Trade can be accessed inside the app and on the website with your Wealthsimple login.
How Can I Get Started With Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. As a special registration bonus for our readers you’ll receive the cash value of a Canadian stock valued at $25 up to $4,500 Canadian once you add funds to your account.
What if I Still Have Questions Related to Wealthsimple Trade Joint Account?
If this article still hasn’t answered each of your questions, and you’re searching for further specific info relating to Wealthsimple Trade Joint Account, check out the Wealthsimple site to get answers to each your questions.