What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online Financial, stocks plus crypto trading app that differentiates itself from its competitors by charging absolutely no fees.
A leading Canadian online financial services company founded in the Fall of 2014 originally as a robo-advisor algorithmic automated trading platform named Wealthsimple Invest, it has changed substantially over the previous eight years to include Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows Canadian consumers trade both stand alone stocks and also ETFs without needing to pay fees. The exception is when trading securities which are denominated in US Dollars. In which case, they do charge a nominal currency conversion fee when buying and selling. But, past us are the days of paying Upwards of $7 per each trade with digital discount brokerages as was the norm only a few years past.
How Much Money Will I Need to Have in Order to Start Investing on Wealthsimple Trade?
Wealthsimple is special in that they will allow new customers to make a minimum deposit of just $1. Most alternative banks and discount brokerages have sizeable min deposit amounts of 1k-5k. This makes it difficult for the typical investor to start investing. With Wealthsimple Trade, you won’t need to already be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Offer RRSP Accounts?
It does. Wealthsimple Trade has available both CRA registered and non-registered accounts. One can select both RRSP and TFSA account types in the setup process.
Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a convenient mobile app that is available on both Apple and Android. The smartphone app makes the registration phase and also trading of stocks and ETFs super simple.
Is Wealthsimple Trade Trustworthy?
. Wealthsimple Trade is trustworthy. Wealthsimple reports more than 15 billion CAD of Assets Under Management (AUM). they’ve been doing business for more than 7 years and at this time employs more than 600 folks. The controlling shareholder is the admired public Canadian corporation Power Corp of Canada. Weapthsimple Trade is the first no-fees digital discount brokerage operating in Canada.
But How Do I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it straight forward to deposit to an account. Just connect the app to a chequing or savings account with your Trade account, and then add money to your account in just a few clicks. Deposits from banks to Wealthsimple usually take just a few days. Funds can the same way can be withdrawn your chequing or savings accounts by using the same steps.
What Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to Interac e-transfers which allow one to quickly and simply send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for this tax season and file your taxes online for free. It’s advertised to be simple, accurate and always totally free tax filing.
Wealthsimple Spend – A combination prepaid debit card and savings product which allows you to get 1% cashback on your purchases, and also get a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform which includes a variety of online courses on saving, investing, crypto, home buying and more.
All of the above products, along with Wealthsimple Trade can be accessed within the mobile app and at the site with one login.
But How Can I Begin With Wealthsimple Trade?
Click here to signup for a new Wealthsimple Trade account. For a special registration bonus for our readers you will receive the equivalent cash value of a random Canadian stock valued at up to $4,500 Canadian as soon as you add funds to your account.
So What if I Still Have Questions Related to Wealthsimple Trade Premarket?
If this blog post didn’t given you the answers to all of your questions, and you’re still browsing for more info about Wealthsimple Trade Premarket, check out the Wealthsimple site for answers to each your questions.