What is Wealthsimple?
Wealthsimple is a simple to use Canadian web based Financial, stock and crypto trading platform that sets itself apart from the competition by charging absolutely no fees.
A fintech company launched in the Fall of 2014 exclusively as a robo advisor algorithmic automated trading platform called Wealthsimple Invest, it has changed considerably over the past eight years to include Wealthsimple Trade, a no fee discount brokerage app.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets investors to trade both individual stocks and also ETFs without paying fees. The exception to this is when you’re trading stocks and ETFs which are denominated in USD. In that case, they do charge a nominal currency conversion fee both when buying and selling. But, behind us are the times of paying $7-12 per each trade with online discount brokerages as was expected a few years past.
How Much Money do I Need in Order to Start With Wealthsimple Trade?
Wealthsimple is cool such that they will allow new customers to make a minimum deposit of only $1. The majority of alternative banks and brokerages have large minimum deposit amounts of $1,000-5K. This makes it difficult for the typical new investor to get started. With Wealthsimple Trade, you won’t need to be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Offer RRSP Accounts?
They do. Wealthsimple Trade offers both registered and non-CRA-registered account types. You may select between both RRSP and TFSA account types during the setup process.
But Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a well designed mobile app that is offered to download on Apple and also Google Play. The mobile app makes the enrollment phase and also the trading of stocks and ETFs incredibly painless.
But Is Wealthsimple Trade Safe?
For sure. Wealthsimple Trade is safe. Wealthsimple has over 15 billion CAD of Assets Under Management . they’ve been expanding for more than 7 years and also now employs more than 600 Canadians. The main shareholder is the publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fees digital brokerage to operate in Canada.
So How Does One Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it straight forward to add funds to your new account. Simply connect the app to a chequing or savings account to your Trade account, then fund your account in only a few steps. Deposits from financial institutions to Wealthsimple typically take a couple of days. Funds can the same way can be moved back to your chequing or savings account with the same steps.
Which Other Features and Products Are Available?
Wealthsimple Cash – An alternative to Interac e-Transfers that allow anyone to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for tax season and file your tax return online free. It’s advertised to be easy, accurate and always free income tax filing.
Wealthsimple Spend – A combination pre paid debit card and savings account that allows you to recieve 1% cashback on all your everyday purchases, and also get a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform which includes a ton of different online courses on different topics such as saving, investing, crypto, real estate and much more.
All of the mentioned products, including Wealthsimple Trade can be found inside the mobile app or from the website with a single login.
How Should I Begin Using Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. As a special registration bonus to our audience you will get the cash value of a share valued at $25 up to $4,500 Canadian once you fund your account.
What if I Still Have Questions About Wealthsimple Affiliate Program?
If this blog post still hasn’t answered all of your questions, and you’re browsing for further info about Wealthsimple Affiliate Program, visit the Wealthsimple site to get answers to every one of your questions.