What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian digital Financial, stocks and crypto trading web app that sets itself apart from the competition by charging absolutely no fees.
A leading Canadian online financial services company launched in Autumn of twenty fourteen exclusively as a robo-advisor algorithmic automated trading platform called Wealthsimple Invest, it has changed significantly over the previous 8 years to include Wealthsimple Trade, a no fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows Canadian investors trade individual stocks and also ETFs without paying commissions. The exception to this is when trading securities that are denominated in USD. In this case, they do charge a small currency conversion fee when buying and selling. However, past us are the days of having to pay Upwards of $7 for each trade with discount brokerages as was expected only a couple years ago.
How Much Cash Will I Need to Have in Order to Start With Wealthsimple Trade?
Wealthsimple is special in that they allow Canadians to make a minimum deposit of only $1. Many traditional banks and brokerages have sizeable initial deposit amounts of 1K-$5000. This makes it difficult for the typical investor to start. With Wealthsimple Trade, one doesn’t have to be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Offer Registered Accounts?
They do. Wealthsimple Trade offers registered and non-registered account types. One are able to select both RRSP and TFSA account types during the setup process.
Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a well designed mobile app available on iOS and Android. The mobile app makes the signup steps and also trading of stocks and ETFs truly a breeze.
But Is Wealthsimple Trade Secure?
Of course. Wealthsimple Trade is safe. Wealthsimple boasts in excess of 15 billion Canadian in Assets Under Management . This company has been operating for more than 7 years and also right now employs roughly 600 folks. The controlling owner is the publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fee online brokerage operating in Canada.
So How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it straight forward to deposit to your new account. Just connect a chequing or savings account to your Trade account, then fund your account in just a couple of clicks. Deposits from financial institutions to Wealthsimple typically take a few days. Funds can also be moved back to a chequing or savings account using the same process.
Which Other Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to e-transfers which allow anyone to quickly and simply transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for tax season and submit your tax return online for free. It’s described as easy, accurate and always free tax return filing.
Wealthsimple Spend – A combination prepaid debit card and savings account that lets one to get 1% cashback on all your everyday spending, as well as get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which includes a variety of different online courses on different topics such as saving, investments, crypto, mortgages and much more.
Each of the above features, along with Wealthsimple Trade may be accessed in the app and at their website with one login.
How Can I Get Started Using Wealthsimple Trade?
Click here to setup your Wealthsimple Trade account. For a special signup bonus offer for our readers you will receive the cash value of a random stock worth $25 up to $4,500 Canadian as soon as you fund your account.
What if I Still Have Additional Questions Concerning Autopilot Wealthsimple?
If this blog post still hasn’t answered all of your questions, and you’re still browsing for further specific information about Autopilot Wealthsimple, check out the Wealthsimple site to get answers to every one of your questions.