What is Wealthsimple?
Wealthsimple is an easy to use Canadian digital investing, stocks and crypto trading web app that distinguishes itself from its competitors by charging no fees.
A Toronto, Ontario based fintech company launched in the Fall twenty fourteen exclusively as a robo-advisor algorithmic trading platform called Wealthsimple Invest, it has grown considerably over the previous eight years to also feature Wealthsimple Trade, a zero fee discount brokerage app.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets consumers to trade single stocks and ETFs without paying commissions. The exception to this is when trading stocks which are denominated in USD. In this case, they charge a nominal currency conversion fee both when buying and selling. However, past us are the days of paying $7-12 per trade with digital discount brokerages as was common a couple years past.
How Much in Funds Will I Need to Have to Get Started on Wealthsimple Trade?
Wealthsimple is special such that they allow Canadian investors to make a minimum deposit of only $1. The majority of alternative banks and brokerages have sizeable minimum deposit amounts of 1K-$5,000. This makes it impossible for the normal investor to start investing. With Wealthsimple Trade, one doesn’t have to be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Have TFSA Accounts?
They do. Wealthsimple Trade offers registered and non-registered accounts. You may choose both RRSP and TFSA accounts during the setup process.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a convenient mobile app offered to download on both Apple and Android. The app makes the registration phase and the trading of stocks and ETFs painless.
So Is Wealthsimple Trade Secure?
For sure. Wealthsimple Trade is safe. Wealthsimple reports more than 15 billion CAD in Assets Under Management . This company has been in business for more than 7 years and also now employs over 600 people. The main shareholder is the admired publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fee digital discount brokerage operating in Canada.
But How Do I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly easy to deposit to an account. Simply connect a chequing or savings account to your Trade account, then add money to your account in only a few steps. Deposits from banks to Wealthsimple normally take a couple of days. Funds can also be moved to your chequing or savings accounts through the same process.
What Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to Interac e-transfers which allow anyone to quickly and easily transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for this tax season and file your tax return online for free. It’s described as easy, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid prepaid visa and savings product which lets one to earn 1% cashback on all your everyday spending, and also earn a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform which offers a ton of different online courses on different topics such as saving, investing, crypto, real estate and much more.
All of the above features, including Wealthsimple Trade may be accessed in the app and from their website with your Wealthsimple login.
But How Can I Begin With Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. For a special signup bonus offer to our audience you’ll get the equivalent cash value of a stock valued at up to $4,500 CAD once you fund your account.
So What if I Still Have Questions Related to Add Funds To Wealthsimple?
If this review didn’t answered each of your questions, and you’re still searching for more info relating to Add Funds To Wealthsimple, go to the Wealthsimple site to get answers to each your questions.