Who Owns Wealthsimple Trade

What Exactly is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian online investing, securities plus crypto trading app that sets itself apart from the competition by charging no fees.

A Toronto, Ontario based online financial services company launched in the Fall of 2014 originally as a robo-advisor automated trading app named Wealthsimple Invest, it has changed substantially over the past 8 years to feature Wealthsimple Trade, a zero fees discount brokerage service.

Does Wealthsimple Trade Charge Its Users Fees?

Wealthsimple Trade allows Canadian investors to trade both individual stocks and also ETFs without having to pay any commissions. The exception to this is when trading stocks and ETFs which are listed in US Dollars. In which case, they will charge a nominal currency conversion fee when buying and selling. But, gone are the days of paying Upwards of $7 for each trade with online discount brokerages as was normal only a couple years ago.

Exactly How Much Money Will I Need in Order to Start Investing on Wealthsimple Trade?

Wealthsimple is cool such that they allow Canadians to make a minimum deposit of just $1. Most traditional banks and discount brokerages have sizeable initial deposit amounts of 1k-5K. This makes it hard for the typical investor to start. With Wealthsimple Trade, you won’t need to be wealthy to get started with trading stocks and ETFs.

So Does Wealthsimple Trade Offer TFSA Accounts?

Of course. Wealthsimple Trade has both CRA registered and non-CRA-registered accounts. One are able to choose both RRSP and TFSA account types during the setup process.

So Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade offers a convenient mobile app that is offered to download on IOS and Google Play. The mobile app makes the enrollment phase and the trading of stocks and ETFs super simple.

So Is Wealthsimple Trade Trustworthy?

. Wealthsimple Trade is trustworthy. Wealthsimple reports more than 15 billion CAD of Assets Under Management (AUM). These folks have been expanding for more than 7 years and also employs over 600 Canadians. The primary owner is the respected public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fees online discount brokerage operating in Canada.

How Does One Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it simple to fund a new account. Simply connect to a chequing or savings account with your Trade account, and then add money to your account in only a couple of clicks. Deposits from financial institutions to Wealthsimple usually take just a few days. Funds can the same way can be moved back to a chequing or savings account through the exact same method.

Which Other Benefits and Products Are Offered by Wealthsimple?

Wealthsimple Cash – This is equivalent to E-transfers that allows anyone to quickly and efficiently send money to friends and family in Canada.

Wealthsimple Tax – Everything you need to prepare for tax season and submit your taxes online for free. It’s advertised as simple, accurate and always totally free tax return filing.

Wealthsimple Spend – A combination pre paid debit card and savings product that lets one to recieve 1% cashback on your everyday purchases, and also get a competitive 1.5% interest on savings.

Personal Finance 101 – Wealthsimple’s free personal finance education platform which offers a variety of courses on different topics such as saving, investing, crypto, real estate and more.

Every one of the mentioned products, along with Wealthsimple Trade may be found in the mobile app or on their site with a single login.

But How Can I Get Started With Wealthsimple Trade?

Click here to signup for your Wealthsimple Trade account. For an exclusive signup bonus to our readers you’ll get the equivalent cash value of a stock valued at $25 up to $4,500 CAD as soon as you deposit to your account.

But What if I Still Have Additional Questions Related to Who Owns Wealthsimple Trade?

If this review didn’t answered all of your questions, and you’re looking for further answers about Who Owns Wealthsimple Trade, visit the Wealthsimple website for answers to all your questions.