What is Wealthsimple?
Wealthsimple is an easy to use Canadian online Financial, stock and crypto trading platform that distinguishes itself from the competition by charging no fees.
A Toronto, Ontario based fintech company launched in Fall 2014 exclusively as a robo advisor algorithmic automated trading platform called Wealthsimple Invest, it has improved substantially over the previous 8 years to feature Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows Canadian consumers to trade both individual stocks and ETFs without needing to pay fees. The exception is when you’re trading securities which are listed in US Dollars. In that case, they charge a small currency conversion fee both when buying and selling. But, gone are the times of having to pay Upwards of $7 per each trade with online discount brokerages as was normal a couple years ago.
How Much Cash do I Need to Have in Order to Start Investing on Wealthsimple Trade?
Wealthsimple is special such that they allow new customers to make a minimum deposit of only $1. The majority of alternative banks and brokerages have sizeable initial deposit amounts of 1K-5k. This makes it hard for the everyday investor to get started. With Wealthsimple Trade, you won’t have to be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Have Registered Accounts?
It does. Wealthsimple Trade has CRA registered and non-CRA-registered account types. You are able to select both RRSP and TFSA accounts in the setup wizard.
Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a well designed mobile app that is available on IOS and Android. The mobile app makes the signup phase and also the trading of stocks and ETFs incredibly painless.
But Is Wealthsimple Trade Trustworthy?
. Wealthsimple Trade is trustworthy. Wealthsimple has over 15 billion CAD of Assets Under Management (AUM). These folks have been operating for more than 7 years and also now employs over 600 Canadians. The controlling owner is the large publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital brokerage to operate in Canada.
So How Do I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it straight forward to fund an account. Just connect to a chequing or savings account with your Trade account, then add money to your account in simply a few clicks. Deposits from banks to Wealthsimple usually take a couple of days. Funds can the same way can be moved to your chequing or savings accounts with the exact same method.
Which Other Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is alternative to e-transfers that allows one to quickly and simply transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for this tax year and file your taxes online for free. It’s advertised as easy, accurate and always totally free tax filing.
Wealthsimple Spend – A hybrid pre paid visa and savings product which lets you to get 1% cashback on your everyday purchases, as well as earn a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that includes a variety of courses on topics like saving, investments, crypto, mortgages and more.
All of the mentioned products, along with Wealthsimple Trade can be accessed within the app or at the website with one login.
So How Can I Get Started With Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. As an exclusive signup bonus to our readers you will receive the equivalent cash value of a random Canadian stock worth $25 up to $4,500 Canadian as soon as you add funds to your account.
But What if I Still Have Questions Concerning Wealthsimple Trade Web Login?
If this article hasn’t answered each of your questions, and you’re still looking for more facts relating to Wealthsimple Trade Web Login, go to the Wealthsimple site to get answers to each your questions.