What is Wealthsimple?
Wealthsimple is an easy to use Canadian online Financial, securities and crypto trading platform that sets itself apart from similar apps by charging no fees.
A leading Canadian fintech company founded in Fall twenty fourteen exclusively as a robo-advisor algorithmic trading platform named Wealthsimple Invest, it has improved substantially over the previous 8 years to also feature Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets Canadian investors trade both single stocks and also ETFs without paying commissions. The exception to this is when you’re trading ETFs and stocks that are displayed in US Dollars. In that case, they charge a nominal currency conversion fee both when buying and selling. But, gone are the times of paying more than $7 for each trade with online discount brokerages as was the norm only a few years past.
Exactly How Much in Funds do I Need in Order to Start Investing on Wealthsimple Trade?
Wealthsimple is special such that they allow investors to make a minimum deposit of only $1. The majority of alternative banks and discount brokerages have sizeable min deposit amounts of 1k-5k. This makes it difficult for the common investor to start investing. With Wealthsimple Trade, one doesn’t have to already be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Have Registered Accounts?
They do. Wealthsimple Trade offers CRA registered and non-CRA-registered account types. You may select both RRSP and TFSA accounts during the setup phase.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a easy to use mobile app offered to download on Apple and also Google Play. The app makes the enrollment process and the trading of stocks and ETFs very easy.
Is Wealthsimple Trade Legit?
Yes. Wealthsimple Trade is trustworthy. Wealthsimple has over 15 billion Canadian in Assets Under Management (AUM). They have been doing business for more than 7 years and currently employs about 600 folks. The primary owner is the admired public Canadian company Power Corp of Canada. Weapthsimple Trade was the first no-fees digital brokerage operating in Canada.
How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it simple to deposit to your new account. Simply connect a chequing or savings account to your Trade account, and fund your account in simply a couple of clicks. Deposits from financial institutions to Wealthsimple normally take only a couple of days. Funds can just as easily be moved back to your chequing or savings account using the exact same steps.
Which Additional Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to E-transfers that allow one to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for tax season and submit your tax return online for free. It’s pitched to be easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings product which allows one to earn 1% cashback on all your purchases, and also 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 bunch of online courses on saving, investments, crypto, home buying and much more.
Every one of the above features, along with Wealthsimple Trade can be found inside the app or on the site with one login.
But How Should I Start With Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. As an exclusive signup bonus for our audience you will get the equivalent cash value of a Canadian stock valued at $25 up to $4,500 CAD as soon as you add funds to your account.
So What if I Still Have Questions About Wealthsimple Zero Commission?
If this review still hasn’t answered all of your questions, and you’re looking for additional info about Wealthsimple Zero Commission, visit the Wealthsimple site for answers to each your questions.