What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based investing, stocks and crypto trading web app that distinguishes itself from the competition by charging absolutely no fees.
A leading Canadian fintech business launched in the Autumn twenty fourteen exclusively as a robo advisor automated trading platform called Wealthsimple Invest, it has grown substantially over the past eight years to also include Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows consumers to trade both single stocks and also ETFs without having to pay any commissions. The exception to this is when you’re trading ETFs and stocks that are listed in US Dollars. In that case, they charge a nominal currency conversion fee both when buying and selling. However, gone are the days of having to pay more than $7 per each trade with discount brokerages as was common just a couple years past.
Exactly How Much in Funds do I Need to Begin Investing With Wealthsimple Trade?
Wealthsimple is special such that they allow Canadians to make a minimum deposit of just $1. Most alternative banks and brokerages have sizeable min deposit amounts of $1,000-$5000. This makes it impossible for the everyday investor to get started. With Wealthsimple Trade, one doesn’t have to be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Have Registered Accounts?
Yes. Wealthsimple Trade has available both registered and non-CRA-registered accounts. You are free to select between both RRSP and TFSA account types in the setup phase.
But Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a easy to use mobile app that is offered to download on IOS and also Android. The mobile app makes the registration phase and also the trading of stocks and ETFs incredibly easy.
But Is Wealthsimple Trade Trustworthy?
Yes. Wealthsimple Trade is legit. Wealthsimple reports more than 15 billion CAD in Assets Under Management (AUM). These folks have been doing business for more than 7 years and now employs over 600 people. The controlling shareholder is the public Canadian company Power Corp of Canada. Weapthsimple Trade was the first no-fee digital brokerage to operate in Canada.
So How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so straight forward to deposit to your account. Just connect to a chequing or savings account with your Trade account, and then add money to your account in just a couple of steps. Deposits from banks to Wealthsimple typically take just a couple of days. Funds can the same way can be moved to a chequing or savings account using the exact same process.
Which Additional Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is alternative to e-transfers which allow anyone to quickly and easily transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for tax season and submit your taxes online free. It’s described to be easy, accurate and always free tax filing.
Wealthsimple Spend – A combination pre paid visa and savings product which lets you to get 1% cashback on your everyday purchases, as well as get a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that includes a bunch of courses on saving, investments, crypto, mortgages and much more.
Each of the above products, including Wealthsimple Trade may be accessed within the app or on their website with one login.
But How do I Get Started Using Wealthsimple Trade?
Click here to setup your Wealthsimple Trade account. For a special registration bonus offer to our audience you’ll get the cash value of a random Canadian stock worth up to $4,500 CAD when you make an initial deposit to your account.
But What if I Still Have Additional Questions Related to Wealthsimple Brand Guidelines?
If this article didn’t answered all of your questions, and you’re still searching for more specific facts about Wealthsimple Brand Guidelines, go to the Wealthsimple site to get answers to all your questions.