What is Wealthsimple?
Wealthsimple is an easy to use Canadian online investing, securities and crypto trading platform that distinguishes itself from other apps by charging absolutely no fees.
A leading Canadian online financial services business founded in Autumn 2014 exclusively as a robo-advisor algorithmic trading platform called Wealthsimple Invest, it has changed substantially over the last 8 years to also include Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets Canadian consumers trade both single stocks and also ETFs without paying commissions. The exception to this is when you’re trading stocks which are listed in US Dollars. In which case, they do charge a currency conversion fee both when buying and selling. However, past us are the times of having to pay Upwards of $7 for each trade with digital discount brokerages as was common just a few years ago.
How Much Money Will I Need to Begin Investing With Wealthsimple Trade?
Wealthsimple is awesome in that they allow Canadians to make a minimum deposit of just $1. The majority of alternative banks and brokerages have quite large minimum deposit amounts of $1,000-$5000. This makes it tough for the every day new investor to get started. With Wealthsimple Trade, you won’t have to already be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Have TFSA Accounts?
They do. Wealthsimple Trade has CRA registered and non-registered accounts. One are free to choose both RRSP and TFSA accounts in the setup phase.
Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a convenient mobile app that is available to download on both iOS and also Google Play. The mobile app makes the enrollment phase and the trading of stocks and ETFs a breeze.
So Is Wealthsimple Trade Trustworthy?
Yes. Wealthsimple Trade is trustworthy. Wealthsimple has in excess of 15 billion Canadian of Assets Under Management (AUM). This company has been in business for more than 7 years and also currently employs over 600 people. The primary shareholder is the large publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade is the first no-fee online brokerage operating in Canada.
But How Can I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite simple to deposit to a new account. Just connect to a chequing or savings account to your Trade account, and then add funds to your account in only a couple of steps. Deposits from banks to Wealthsimple normally take only a few days. Funds can also be moved to your chequing or savings accounts with the same steps.
Which Other Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An equivalent to Interac e-transfers that allow you to quickly and simply transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for this tax year and file your taxes online for free. It’s advertised as simple, accurate and always free tax filing.
Wealthsimple Spend – A combination pre paid debit card and savings product which allows you to get 1% cashback on your purchases, and also get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that includes a variety of different courses on topics like saving, investments, crypto, home buying and more.
All of the above products, including Wealthsimple Trade can be accessed inside the mobile app or from the website with your Wealthsimple login.
How do I Begin With Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. For an exclusive signup bonus to our audience you will receive the cash value of a random Canadian stock valued at up to $4,500 Canadian as soon as you fund your account.
So What if I Still Have Additional Questions Related to Crypto On Wealthsimple?
If this review still hasn’t given you the answers to all of your questions, and you’re looking for additional specific answers relating to Crypto On Wealthsimple, visit the Wealthsimple site to get answers to each your questions.