What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian online Financial, stock plus crypto trading app that differentiates itself from similar apps by charging absolutely no fees.
A leading Canadian fintech company founded in Autumn of 2014 exclusively as a robo advisor algorithmic trading app named Wealthsimple Invest, it has grown considerably over the previous 8 years to include Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets Canadian consumers trade stand alone stocks and also ETFs without having to pay commissions. The exception is when trading securities that are denominated in USD. In this case, they charge a small currency conversion fee when buying and selling. But, behind us are the days of paying Upwards of $7 per each trade with online discount brokerages as was normal just a few years ago.
How Much in Funds do I Need to Have to Begin Investing on Wealthsimple Trade?
Wealthsimple is cool in that they will allow Canadian investors to make a minimum deposit of just $1. The majority of alternative banks and discount brokerages have large initial deposit amounts of $1,000-$5000. This makes it impossible for the everyday investor to start investing. With Wealthsimple Trade, you won’t have to already be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Have Registered Accounts?
It does. Wealthsimple Trade offers registered and non-registered account types. One are able to choose both RRSP and TFSA account types during the setup process.
Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a modern mobile app available to download on IOS and also Google Play. The mobile app makes the registration phase and the trading of stocks and ETFs easy.
Is Wealthsimple Trade Safe?
Most definitely. Wealthsimple Trade is safe. Wealthsimple boasts over 15 billion Canadian of Assets Under Management (AUM). This company has been expanding for more than 7 years and right now employs over 600 folks. The main owner is the respected publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fee digital discount brokerage operating in Canada.
How Does One Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it simple to add funds to an account. Just connect a chequing or savings account with your Trade account, and fund your account in only a few steps. Deposits from banks to Wealthsimple usually take a couple of days. Funds can also be withdrawn a chequing or savings accounts by the same process.
Which Additional Features and Products Are Available?
Wealthsimple Cash – This is alternative to E-Transfers that allow you to quickly and simply transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for this tax year and submit your tax return online for free. It’s described to be easy, accurate and always free income tax filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings account that lets one to recieve 1% cashback on all your purchases, and also earn a very competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that offers a ton of different online courses on saving, investments, crypto, mortgages and much more.
Every one of the above products, including Wealthsimple Trade can be accessed inside the mobile app and on their site with your Wealthsimple login.
So How Can I Begin With Wealthsimple Trade?
Click here to setup a new Wealthsimple Trade account. For a special signup bonus to our audience you will get the equivalent cash value of a Canadian stock valued at up to $4,500 Canadian as soon as you add funds to your account.
But What if I Still Have Questions Related to Wealthsimple?
If this article didn’t answered each of your questions, and you’re searching for further specific information relating to Wealthsimple, go to the Wealthsimple site for answers to all your questions.