What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based Financial, stocks and crypto trading app that differentiates itself from the competition by charging no fees.
A Toronto, Ontario based online financial services company founded in the Fall twenty fourteen exclusively as a robo-advisor algorithmic automated trading platform named Wealthsimple Invest, it has evolved considerably over the past eight years to also include Wealthsimple Trade, a no fee discount brokerage app.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows investors trade both stand alone stocks and also ETFs without paying fees. The exception to this is when you’re trading securities that are listed in USD. In which case, they do charge a small currency conversion fee both when buying and selling. But, past us are the days of paying more than $7 for each trade with online discount brokerages as was expected just a few years ago.
How Much Money Will I Need to Start With Wealthsimple Trade?
Wealthsimple is unique in that they will allow investors to make a minimum deposit of only $1. Most traditional banks and discount brokerages have large initial deposit amounts of $1000-5K. This makes it tough for the everyday 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 Have TFSA Accounts?
It does. Wealthsimple Trade offers registered and non-registered accounts. One can choose between both RRSP and TFSA accounts in the setup phase.
So Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a well designed mobile app that is available on both Apple and also Google Play. The smartphone app makes the registration steps and also trading of stocks and ETFs easy.
So Is Wealthsimple Trade Legit?
Most definitely. Wealthsimple Trade is secure. Wealthsimple reports over 15 billion Canadian of Assets Under Management (AUM). These folks have been expanding for more than 7 years and also currently employs over 600 people. The majority shareholder is the public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the first no-fees online brokerage operating in Canada.
So How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite easy to add funds to your account. Just connect the app to a chequing or savings account to your Trade account, and then fund your account in just a couple of clicks. Deposits from your bank to Wealthsimple normally take a few days. Funds can the same way can be moved to your chequing or savings accounts using the exact same steps.
Which Additional Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An alternative to E-Transfers which allow anyone to quickly and easily send cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for tax season and file your tax return online for free. It’s described as easy, accurate and always free income tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings account which allows you to earn 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 learning platform that includes a variety of courses on saving, investing, crypto, real estate and more.
All of the above features, along with Wealthsimple Trade may be found inside the app and from the website with your Wealthsimple login.
But How do I Begin Using Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. As an exclusive signup bonus to our audience you’ll receive the equivalent cash value of a Canadian stock valued at $25 up to $4,500 Canadian once you fund your account.
So What if I Still Have Additional Questions Concerning Wealthsimple Trade Status?
If this blog post still hasn’t answered all of your questions, and you’re still searching for more info relating to Wealthsimple Trade Status, check out the Wealthsimple site to get answers to all your questions.