What is Wealthsimple?
Wealthsimple is a simple to use Canadian online Financial, securities plus crypto trading platform that differentiates itself from the competition by charging no fees.
A online financial services business founded in the Autumn of 2014 originally as a robo advisor algorithmic trading app called Wealthsimple Invest, it has grown substantially over the last 8 years to also feature Wealthsimple Trade, a zero fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets investors to trade single stocks and ETFs without paying fees. The exception to this is when you’re trading stocks which are listed in USD currency. In this case, they will charge a currency conversion fee both when buying and selling. However, behind us are the times of having to pay more than $7 per each trade with discount brokerages as was common just a few years past.
How Much in Funds do I Need to Have in Order to Get Started on Wealthsimple Trade?
Wealthsimple is special in that they will allow investors to make a minimum deposit of just $1. Many traditional banks and brokerages have quite large min deposit amounts of $1000-5K. This makes it tough for the common new investor to get started. With Wealthsimple Trade, you don’t have to be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Have TFSA Accounts?
It does. Wealthsimple Trade offers both CRA registered and non-registered account types. One are free to choose between both RRSP and TFSA accounts in the setup wizard.
Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a convenient mobile app offered on IOS and also Google Play. The mobile app makes the enrollment steps and also the trading of stocks and ETFs incredibly easy.
Is Wealthsimple Trade Secure?
Definitely. Wealthsimple Trade is safe. Wealthsimple reports in excess of 15 billion CAD of Assets Under Management (AUM). they’ve been operating for more than 7 years and also currently employs roughly 600 Canadians. The main owner is the admired publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fees digital brokerage to operate in Canada.
But How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very simple to deposit to your account. Simply connect a chequing or savings account to your Trade account, and add funds to your account in only a couple of clicks. Deposits from your bank to Wealthsimple usually take only a couple of days. Funds can also be withdrawn your chequing or savings accounts by using the exact same process.
Which Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to e-Transfers that allows one to quickly and easily transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for this tax year and submit your taxes online for free. It’s pitched as simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings product that lets you to get 1% cashback on your spending, and also earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform which includes a variety of different courses on different topics such as saving, investing, crypto, home buying and much more.
Every one of the mentioned products, along with Wealthsimple Trade may be accessed on the app and on the site with a single login.
So How Can I Start Using Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. For an exclusive signup bonus to our audience you will get the equivalent cash value of a stock worth up to $4,500 Canadian as soon as you deposit to your account.
So What if I Still Have Questions Concerning Can’t Withdraw From Wealthsimple?
If this review hasn’t given you the answers to each of your questions, and you’re looking for further specific answers about Can’t Withdraw From Wealthsimple, check out the Wealthsimple site to get answers to all your questions.