Cheapest Stocks On Wealthsimple

What Exactly is Wealthsimple?

Wealthsimple is a simple to use Canadian web based investing, securities and crypto trading web app that differentiates itself from similar apps by charging no fees. 

A Toronto, Ontario based online financial services business founded in Autumn of 2014 originally as a robo-advisor trading app called Wealthsimple Invest, it has changed considerably over the previous 8 years to feature Wealthsimple Trade, a zero fees discount brokerage service.

Does Wealthsimple Trade Charge Any Fees?

Wealthsimple Trade allows investors to trade individual stocks and also ETFs without having to pay any commissions. The exception to this is when you’re trading stocks and ETFs which are listed in US Dollars. In which case, they charge a small currency conversion fee both when buying and selling. But, past us are the days of paying Upwards of $7 for each trade with discount brokerages as was the case only a few years ago.

Exactly How Much in Funds Will I Need to Have in Order to Begin Investing on Wealthsimple Trade?

Wealthsimple is special such that they will allow Canadians to make a minimum deposit of only $1. The majority of traditional banks and discount brokerages have sizeable initial deposit amounts of 1k-$5000. This makes it difficult for the common investor to get started. With Wealthsimple Trade, you don’t need to be wealthy to begin trading stocks and ETFs.

So Does Wealthsimple Trade Have Registered Accounts?

They do. Wealthsimple Trade has available both CRA registered and non-registered account types. You are able to select between both RRSP and TFSA account types during the setup process. 

Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade offers a well designed mobile app that is offered to download on both iOS and also Google Play. The mobile app makes the enrollment steps and also trading of stocks and ETFs truly easy.

But Is Wealthsimple Trade Secure?

Of course. Wealthsimple Trade is secure. Wealthsimple boasts in excess of 15 billion CAD in Assets Under Management (AUM). This company has been expanding for more than 7 years and also at this time employs roughly 600 folks. The controlling shareholder is the publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fees online brokerage to operate in Canada.

So How Do I Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it very simple to deposit to your account. Just connect a chequing or savings account with your Trade account, and fund your account in simply a couple of clicks. Deposits from banks to Wealthsimple usually take only a few days. Funds can just as easily be moved back to a chequing or savings account by the same method.

Which Additional Benefits and Products Does Wealthsimple Offer?

Wealthsimple Cash – This is alternative to Interac E-Transfers which allows anyone to quickly and simply send money to friends and family in Canada.

Wealthsimple Tax – Everything you’ll require to prepare for this tax season and file your tax return online for free. It’s described as simple, accurate and always totally free income tax filing.

Wealthsimple Spend – A hybrid pre paid visa and savings product that lets you to recieve 1% cashback on your spending, as well as get a competitive 1.5% interest on savings.

Personal Finance 101 – Wealthsimple’s free personal finance education platform that includes a bunch of different courses on different topics such as saving, investing, crypto, real estate and more. 

Every one of the listed features, along with Wealthsimple Trade can be found within the mobile app and at the site with your Wealthsimple login.

So How do I Begin Using Wealthsimple Trade?

Click here to create your Wealthsimple Trade account. As an exclusive registration bonus for our audience you’ll receive the equivalent cash value of a Canadian stock worth up to $4,500 Canadian as soon as you make an initial deposit to your account.

But What if I Still Have Questions About Cheapest Stocks On Wealthsimple?

If this blog post hasn’t answered each of your questions, and you’re still looking for additional specific information relating to Cheapest Stocks On Wealthsimple, visit the Wealthsimple website to get answers to all your questions.