What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based investing, securities and crypto trading web app that sets itself apart from the competition by charging absolutely no fees.
A leading Canadian online financial services business launched in the Fall of 2014 exclusively as a robo-advisor automated trading platform named Wealthsimple Invest, it has grown significantly over the past 8 years to include Wealthsimple Trade, a zero fees discount brokerage service.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows consumers trade individual stocks and ETFs without having to pay any commissions. The exception is when trading securities which are denominated in USD currency. In which case, they do charge a nominal currency conversion fee both when buying and selling. But, behind us are the days of having to pay Upwards of $7 for each trade with digital discount brokerages as was the norm only a couple years past.
How Much Cash Will I Need to Begin Investing With Wealthsimple Trade?
Wealthsimple is awesome such that they will allow Canadians to make a minimum deposit of just $1. The majority of alternative banks and brokerages have sizeable initial deposit amounts of 1K-5k. This makes it tough for the normal new investor to start investing. With Wealthsimple Trade, you don’t need to be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Offer Registered Accounts?
Yes. Wealthsimple Trade has available both CRA registered and non-registered accounts. You can select between both RRSP and TFSA accounts during the setup phase.
Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a well designed mobile app available on IOS and Android. The smartphone app makes the registration steps and also trading of stocks and ETFs incredibly painless.
So Is Wealthsimple Trade Secure?
Definitely. Wealthsimple Trade is secure. Wealthsimple reports more than 15 billion Canadian of Assets Under Management . These folks have been in business for more than 7 years and at this time employs about 600 people. The controlling shareholder is the respected public Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fee digital discount brokerage to operate in Canada.
How Can I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly straight forward to add funds to your account. Simply connect the app to a chequing or savings account to your Trade account, and then add funds to your account in simply a few clicks. Deposits from your bank to Wealthsimple usually take just a couple of days. Funds can the same way can be withdrawn your chequing or savings accounts through the exact same steps.
What Additional Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is alternative to Interac E-transfers that allows one to quickly and efficiently send cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for this tax year and file your taxes online for free. It’s pitched to be easy, accurate and always free tax return filing.
Wealthsimple Spend – A combination pre paid visa and savings account that lets you to recieve 1% cashback on all your everyday spending, as well as earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that offers a bunch of different online courses on topics like saving, investments, crypto, home buying and much more.
All of the mentioned features, along with Wealthsimple Trade may be accessed in the mobile app and on the website with your Wealthsimple login.
So How do I Begin With Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. As an exclusive signup bonus offer for our audience you will receive the cash value of a Canadian stock valued at $25 up to $4,500 CAD once you add funds to your account.
So What if I Still Have Questions Related to Wealthsimple Trade Updates?
If this blog post didn’t given you the answers to all of your questions, and you’re still looking for more specific info about Wealthsimple Trade Updates, check out the Wealthsimple site for answers to each your questions.