What is Wealthsimple?
Wealthsimple is a simple to use Canadian web based Financial, stocks and crypto trading app that distinguishes itself from the competition by charging no fees.
A Toronto, Ontario based fintech company launched in Autumn twenty fourteen originally as a robo-advisor trading app called Wealthsimple Invest, it has grown substantially over the previous 8 years to also feature Wealthsimple Trade, a no fees discount brokerage platform.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets Canadian consumers trade both single stocks and also ETFs without needing to pay any fees. The exception to this is when trading securities that are denominated in US Dollars. In this case, they charge a nominal currency conversion fee when buying and selling. But, gone are the times of having to pay more than $7 for each trade with online discount brokerages as was common just a couple years past.
Exactly How Much Money Will I Need to Have to Begin Investing With Wealthsimple Trade?
Wealthsimple is awesome in that they allow Canadian investors to make a minimum deposit of just $1. Most traditional banks and discount brokerages have large minimum deposit amounts of $1000-5k. This makes it tough for the typical investor to start investing. With Wealthsimple Trade, you don’t have to already be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Offer Registered Accounts?
Of course. Wealthsimple Trade has CRA registered and non-CRA-registered account types. You can select between both RRSP and TFSA accounts in the setup phase.
Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a well designed mobile app offered on both IOS and also Google Play. The app makes the signup process and trading of stocks and ETFs incredibly simple.
But Is Wealthsimple Trade Safe?
. Wealthsimple Trade is legit. Wealthsimple has in excess of 15 billion Canadian of Assets Under Management (AUM). They have been operating for more than 7 years and employs about 600 folks. The primary owner is the respected publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fees online brokerage to operate in Canada.
So How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very straight forward 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 simply a few steps. Deposits from banks to Wealthsimple typically take only a couple of days. Funds can the same way can be moved back to your chequing or savings accounts by using the same method.
What Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An alternative to Interac E-Transfers that allow anyone to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for tax year and submit your taxes online for free. It’s advertised to be simple, accurate and always free tax filing.
Wealthsimple Spend – A combination prepaid debit card and savings account that lets you to earn 1% cashback on your spending, as well as get a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that includes a ton of courses on different topics such as saving, investments, crypto, mortgages and more.
All of the above features, including Wealthsimple Trade can be accessed inside the app or from the website with your Wealthsimple login.
How Should I Start Using Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. As an exclusive registration bonus offer to our readers you will get the cash value of a random stock worth $25 up to $4,500 Canadian as soon as you deposit to your account.
But What if I Still Have Questions Concerning Bitcoin On Wealthsimple?
If this blog post didn’t given you the answers to each of your questions, and you’re searching for more specific info about Bitcoin On Wealthsimple, go to the Wealthsimple website to get answers to every one of your questions.