What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian online investing, stock plus crypto trading web app that differentiates itself from similar apps by charging absolutely no fees.
A fintech business launched in Autumn of twenty fourteen exclusively as a robo advisor automated trading app called Wealthsimple Invest, it has evolved substantially over the last eight years to also feature Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets Canadian investors trade stand alone stocks and ETFs without having to pay any commissions. The exception to this is when trading securities which are displayed in US Dollars. In which case, they will charge a small currency conversion fee when buying and selling. But, behind us are the times of having to pay $7-12 for each trade with online discount brokerages as was expected only a couple years ago.
How Much Cash Will I Need to Have in Order to Start With Wealthsimple Trade?
Wealthsimple is awesome such that they allow Canadians to make a minimum deposit of just $1. Most alternative banks and discount brokerages have sizeable min deposit amounts of 1k-$5,000. This makes it impossible for the everyday new investor to get started. With Wealthsimple Trade, you won’t need to already be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Have TFSA Accounts?
They do. Wealthsimple Trade has both CRA registered and non-registered accounts. You are free to select both RRSP and TFSA account types in the setup wizard.
So Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a modern mobile app available to download on both IOS and also Android. The smartphone app makes the enrollment phase and also the trading of stocks and ETFs truly simple.
Is Wealthsimple Trade Safe?
Definitely. Wealthsimple Trade is legit. Wealthsimple has over 15 billion Canadian of Assets Under Management . They have been in business for more than 7 years and at this time employs more than 600 Canadians. The main owner is the admired publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fee online brokerage operating in Canada.
How Does One Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite straight forward to fund an account. Simply connect the app to a chequing or savings account to your Trade account, and then add money to your account in simply a couple of steps. Deposits from your bank to Wealthsimple typically take a few days. Funds can just as easily be withdrawn your chequing or savings account by the exact same process.
Which Other Benefits and Products Are Available?
Wealthsimple Cash – An alternative to Interac E-transfers that allow you to quickly and efficiently send cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for this tax season and file your tax return online free. It’s described as simple, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings product that allows one to recieve 1% cashback on your spending, as well as earn 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 topics like saving, investing, crypto, home buying and much more.
Each of the mentioned features, along with Wealthsimple Trade can be found in the mobile app and on their site with a single login.
But How Can I Get Started With Wealthsimple Trade?
Click here to create a Wealthsimple Trade account. For a special signup bonus for our audience you will get the equivalent cash value of a random share valued at $25 up to $4,500 Canadian once you deposit to your account.
What if I Still Have Questions About Wealthsimple Trade Mint Access Token?
If this blog post hasn’t answered each of your questions, and you’re searching for additional specific information relating to Wealthsimple Trade Mint Access Token, visit the Wealthsimple website for answers to every one of your questions.