What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital investing, stock and crypto trading app that differentiates itself from similar apps by charging absolutely no fees.
A online financial services business launched in Autumn of 2014 exclusively as a robo-advisor automated trading app named Wealthsimple Invest, it has improved significantly over the last eight years to feature Wealthsimple Trade, a zero fees discount brokerage platform.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows investors to trade both stand alone stocks and also ETFs without paying any commissions. The exception to this is when trading stocks that are listed in US Dollars. In that case, they charge a nominal currency conversion fee when buying and selling. But, past us are the times of paying Upwards of $7 per trade with online discount brokerages as was the case only a couple years ago.
How Much in Funds Will I Need to Have in Order to Start on Wealthsimple Trade?
Wealthsimple is special such that they allow investors to make a minimum deposit of only $1. The majority of traditional banks and discount brokerages have large minimum deposit amounts of $1000-5k. This makes it impossible for the normal investor to get started. With Wealthsimple Trade, you don’t need to already be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Have Registered Accounts?
Of course. Wealthsimple Trade has both registered and non-registered account types. One are able to select both RRSP and TFSA account types in the setup phase.
But Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a modern mobile app that is available on both IOS and Android. The mobile app makes the enrollment steps and trading of stocks and ETFs truly simple.
So Is Wealthsimple Trade Legit?
. Wealthsimple Trade is legit. Wealthsimple boasts more than 15 billion CAD in Assets Under Management . This company has been in business for more than 7 years and currently employs more than 600 folks. The controlling shareholder is the admired publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital brokerage to operate in Canada.
How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so straight forward to fund a new account. Just connect the app to a chequing or savings account with your Trade account, and then add money to your account in just a couple of steps. Deposits from financial institutions to Wealthsimple typically take just a couple of days. Funds can also be moved to your chequing or savings account using the same process.
Which Other Benefits and Products Are Available?
Wealthsimple Cash – An equivalent to Interac E-Transfers which allows you to quickly and efficiently send cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for this tax year and file your tax return online free. It’s described as easy, accurate and always free tax return filing.
Wealthsimple Spend – A combination prepaid visa and savings account which lets you to get 1% cashback on your purchases, and also earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that includes a variety of different courses on saving, investments, crypto, mortgages and much more.
Every one of the listed products, along with Wealthsimple Trade can be found inside the mobile app or at the site with a single login.
How do I Begin Using Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. For a special registration bonus for our audience you will get the cash value of a stock valued at $25 up to $4,500 Canadian once you make an initial deposit to your account.
But What if I Still Have Questions Related to Air Miles Wealthsimple?
If this article hasn’t given you the answers to all of your questions, and you’re browsing for further specific information about Air Miles Wealthsimple, visit the Wealthsimple website to find answers to each your questions.