Best Stocks To Buy On Wealthsimple

What Exactly is Wealthsimple?

Wealthsimple is a simple to use Canadian online investing, securities plus crypto trading platform that distinguishes itself from similar apps by charging absolutely no fees. 

A fintech company founded in Fall 2014 originally as a robo-advisor algorithmic automated trading app named Wealthsimple Invest, it has evolved significantly over the previous 8 years to include Wealthsimple Trade, a no fee discount brokerage app.

Does Wealthsimple Trade Charge Fees?

Wealthsimple Trade allows Canadian consumers trade individual stocks and ETFs without needing to pay fees. The exception to this is when trading securities which are listed in USD currency. In that case, they will charge a nominal currency conversion fee both when buying and selling. But, past us are the days of paying $7-12 per each trade with online discount brokerages as was expected a couple years past.

How Much in Funds do I Need in Order to Start With Wealthsimple Trade?

Wealthsimple is awesome in that they will allow investors to make a minimum deposit of just $1. Many alternative banks and discount brokerages have sizeable initial deposit amounts of 1K-$5000. This makes it difficult for the every day investor to get started. With Wealthsimple Trade, one doesn’t need to already be wealthy to start trading stocks and ETFs.

So Does Wealthsimple Trade Offer TFSA Accounts?

Yes. Wealthsimple Trade has CRA registered and non-registered accounts. One can choose between both RRSP and TFSA account types during the setup wizard. 

But Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade has a well designed mobile app available to download on both iOS and also Google Play. The smartphone app makes the registration process and trading of stocks and ETFs truly a breeze.

So Is Wealthsimple Trade Safe?

Of course. Wealthsimple Trade is trustworthy. Wealthsimple boasts in excess of 15 billion CAD in Assets Under Management . This company has been expanding for more than 7 years and at this time employs over 600 folks. The main owner is the admired publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital brokerage operating in Canada.

How Can I Fund a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it so easy to add money to a new account. Just connect a chequing or savings account to your Trade account, and then add funds to your account in just a few steps. Deposits from banks to Wealthsimple typically take a few days. Funds can also be moved to your chequing or savings accounts by using the same steps.

What Additional Benefits and Products Does Wealthsimple Offer?

Wealthsimple Cash – This is alternative to e-transfers that allow anyone to quickly and easily send cash to friends and family in Canada.

Wealthsimple Tax – Everything you require to prepare for this tax year and file your taxes online for free. It’s described to be simple, accurate and always free tax filing.

Wealthsimple Spend – A hybrid pre paid visa and savings account that lets one to get 1% cashback on your spending, and also get a competitive 1.5% interest on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance platform which includes a bunch of online courses on saving, investments, crypto, home buying and much more. 

Each of the mentioned features, along with Wealthsimple Trade can be found inside the mobile app or at their website with your Wealthsimple login.

So How do I Begin With Wealthsimple Trade?

Click here to register for a new Wealthsimple Trade account. For a special signup bonus to our readers you’ll receive the equivalent cash value of a random share valued at up to $4,500 Canadian as soon as you make an initial deposit to your account.

But What if I Still Have Questions Concerning Best Stocks To Buy On Wealthsimple?

If this review didn’t given you the answers to each of your questions, and you’re still looking for additional specific info about Best Stocks To Buy On Wealthsimple, go to the Wealthsimple website for answers to each your questions.