What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian web based Financial, stocks and crypto trading web app that distinguishes itself from its competitors by charging no fees.
A leading Canadian online financial services business launched in the Fall of 2014 exclusively as a robo advisor algorithmic trading platform named Wealthsimple Invest, it has improved significantly over the previous eight years to include Wealthsimple Trade, a no fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets investors to trade both stand alone stocks and also ETFs without needing to pay fees. The exception is when trading stocks that are denominated in USD currency. In which case, they will charge a small currency conversion fee when buying and selling. But, gone are the days of having to pay more than $7 per each trade with digital discount brokerages as was normal only a few years ago.
How Much Money do I Need to Start Investing on Wealthsimple Trade?
Wealthsimple is awesome in that they will allow Canadian investors to make a minimum deposit of only $1. Many traditional banks and discount brokerages have large min deposit amounts of $1,000-5K. This makes it difficult for the normal new investor to get started. With Wealthsimple Trade, one doesn’t have to be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Offer TFSA Accounts?
Of course. Wealthsimple Trade has available both CRA registered and non-registered account types. You are able to select between both RRSP and TFSA account types in the setup phase.
So Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a modern mobile app that is offered to download on Apple and Android. The mobile app makes the signup phase and trading of stocks and ETFs painless.
So Is Wealthsimple Trade Secure?
. Wealthsimple Trade is secure. Wealthsimple reports more than 15 billion Canadian in Assets Under Management (AUM). they’ve been doing business for more than 7 years and now employs about 600 Canadians. The controlling shareholder is the admired publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the very first no-fees digital discount brokerage operating in Canada.
So How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so straight forward to fund your new account. Simply connect the app to a chequing or savings account to your Trade account, and then fund your account in only a few steps. Deposits from banks to Wealthsimple typically take a few days. Funds can the same way can be moved to a chequing or savings accounts through the same process.
What Other Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An equivalent to Interac E-transfers that allow one to quickly and efficiently send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for this tax season and submit your tax return online for free. It’s pitched as simple, accurate and always free tax filing.
Wealthsimple Spend – A combination prepaid debit card and savings account that allows one to earn 1% cashback on all your everyday purchases, and also earn a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that offers a bunch of courses on different topics such as saving, investments, crypto, mortgages and more.
Every one of the above products, along with Wealthsimple Trade may be accessed within the app or from the website with your Wealthsimple login.
So How Should I Begin With Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. For an exclusive signup bonus offer to our readers you’ll receive the cash value of a share worth up to $4,500 Canadian as soon as you make an initial deposit to your account.
What if I Still Have Questions Concerning Best Crypto To Buy On Wealthsimple?
If this blog post didn’t answered each of your questions, and you’re looking for further facts relating to Best Crypto To Buy On Wealthsimple, go to the Wealthsimple site to get answers to all your questions.