What is Wealthsimple?
Wealthsimple is a simple to use Canadian digital investing, stock and crypto trading platform that distinguishes itself from other apps by charging no fees.
A fintech business launched in Fall twenty fourteen originally as a robo-advisor algorithmic automated trading platform named Wealthsimple Invest, it has evolved substantially over the previous eight years to include Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets consumers to trade both single stocks and ETFs without paying fees. The exception to this is when you’re trading securities that are displayed in USD. In this case, they do charge a nominal currency conversion fee when buying and selling. But, past us are the times of having to pay Upwards of $7 for each trade with discount brokerages as was common only a few years past.
How Much in Funds Will I Need to Have to Begin Investing With Wealthsimple Trade?
Wealthsimple is special such that they will allow Canadians to make a minimum deposit of just $1. Most alternative banks and discount brokerages have quite large min deposit amounts of 1K-$5,000. This makes it impossible for the typical new investor to start investing. With Wealthsimple Trade, you won’t have to be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Have TFSA Accounts?
They do. Wealthsimple Trade has registered and non-CRA-registered accounts. One are free to select both RRSP and TFSA accounts in the setup phase.
Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a easy to use mobile app that is offered to download on both Apple and also Android. The smartphone app makes the enrollment phase and also the trading of stocks and ETFs incredibly painless.
Is Wealthsimple Trade Secure?
Most definitely. Wealthsimple Trade is secure. Wealthsimple reports over 15 billion Canadian of Assets Under Management . This company has been expanding for more than 7 years and also right now employs over 600 folks. The majority owner is the respected public Canadian entity Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital discount brokerage to operate in Canada.
How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite easy to add money to your account. Simply connect to a chequing or savings account with your Trade account, then add funds to your account in simply a couple of clicks. Deposits from your bank to Wealthsimple typically take only a couple of days. Funds can just as easily be moved back to your chequing or savings account by using the exact same process.
What Additional Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An alternative to E-Transfers that allows you to quickly and simply transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for this tax season and submit your taxes online free. It’s advertised to be easy, accurate and always free tax filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings product which lets one to recieve 1% cashback on all your everyday purchases, and also earn a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform which includes a ton of different courses on different topics such as saving, investments, crypto, real estate and much more.
Each of the listed features, including Wealthsimple Trade may be found within the mobile app and at their site with your Wealthsimple login.
How do I Get Started With Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. For a special registration bonus to our audience you will get the equivalent cash value of a share worth $25 up to $4,500 Canadian when you deposit to your account.
But What if I Still Have Questions About Wealthsimple?
If this blog post didn’t answered each of your questions, and you’re still browsing for further specific info relating to Wealthsimple, go to the Wealthsimple site for answers to each your questions.