What is Wealthsimple?
Wealthsimple is a simple to use Canadian online investing, securities plus crypto trading web app that sets itself apart from other apps by charging absolutely no fees.
A leading Canadian fintech business launched in the Fall of twenty fourteen originally as a robo advisor trading platform called Wealthsimple Invest, it has changed substantially over the last eight years to also include Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets Canadian investors trade both individual stocks and ETFs without needing to pay fees. The exception is when trading securities which are denominated in US Dollars. In which case, they will charge a nominal currency conversion fee both when buying and selling. But, behind us are the days of having to pay $7-12 per each trade with digital discount brokerages as was the case just a few years ago.
Exactly How Much in Funds do I Need to Have in Order to Start on Wealthsimple Trade?
Wealthsimple is cool in that they allow Canadians to make a minimum deposit of just $1. The majority of traditional banks and brokerages have sizeable min deposit amounts of $1,000-$5,000. This makes it impossible for the everyday investor to start investing. With Wealthsimple Trade, you won’t need to be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Offer Registered Accounts?
They do. Wealthsimple Trade offers both registered and non-CRA-registered accounts. You are free to select both RRSP and TFSA account types in the setup process.
But Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a modern mobile app available on iOS and Android. The smartphone app makes the registration steps and also the trading of stocks and ETFs truly simple.
Is Wealthsimple Trade Safe?
Yes. Wealthsimple Trade is safe. Wealthsimple reports over 15 billion CAD of Assets Under Management (AUM). These folks have been doing business for more than 7 years and also employs over 600 people. The majority shareholder is the respected public Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital brokerage operating in Canada.
But How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it simple to add funds to a new account. Simply connect the app to a chequing or savings account to your Trade account, and then add funds to your account in only a couple of steps. Deposits from banks to Wealthsimple normally take a couple of days. Funds can also be moved to your chequing or savings account by using the same process.
Which Other Benefits and Products Are Available?
Wealthsimple Cash – This is equivalent to Interac e-Transfers that allow you to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for this tax year and submit your tax return online for free. It’s described as simple, accurate and always totally free income tax filing.
Wealthsimple Spend – A combination prepaid visa and savings account that allows you to recieve 1% cashback on all your everyday purchases, and also get a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform that includes a ton of different courses on topics like saving, investments, crypto, mortgages and more.
Each of the mentioned products, including Wealthsimple Trade can be found on the mobile app or on their site with one login.
How do I Begin With Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. As a special registration bonus offer for our audience you’ll get the equivalent cash value of a share valued at $25 up to $4,500 Canadian as soon as you deposit to your account.
But What if I Still Have Additional Questions Concerning Wealthsimple Acquisition?
If this blog post didn’t given you the answers to all of your questions, and you’re still looking for further information relating to Wealthsimple Acquisition, go to the Wealthsimple website to find answers to all your questions.