What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian web based Financial, securities and crypto trading web app that differentiates itself from similar apps by charging no fees.
A fintech business founded in the Autumn 2014 originally as a robo-advisor algorithmic automated trading platform called Wealthsimple Invest, it has changed substantially over the past 8 years to include Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade allows Canadian investors trade single stocks and also ETFs without needing to pay commissions. The exception to this is when trading stocks and ETFs that are denominated in USD. In this case, they charge a currency conversion fee both when buying and selling. However, past us are the days of paying $7-12 for each trade with online discount brokerages as was the norm a few years ago.
Exactly How Much in Funds Will I Need in Order to Start Investing on Wealthsimple Trade?
Wealthsimple is unique in that they will allow investors to make a minimum deposit of only $1. Many alternative banks and discount brokerages have large minimum deposit amounts of 1k-$5000. This makes it tough for the normal new investor to get started. With Wealthsimple Trade, you won’t have to be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Have TFSA Accounts?
Yes. Wealthsimple Trade has available registered and non-CRA-registered account types. One may choose both RRSP and TFSA accounts in the setup phase.
So Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a modern mobile app offered to download on both iOS and Android. The app makes the enrollment phase and also trading of stocks and ETFs super easy.
But Is Wealthsimple Trade Legit?
Of course. Wealthsimple Trade is safe. Wealthsimple reports more than 15 billion CAD of Assets Under Management . They have been in business for more than 7 years and also right now employs over 600 folks. The main shareholder is the publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital discount brokerage operating in Canada.
So How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very simple to add money to your account. Just connect to a chequing or savings account with your Trade account, and then add funds to your account in just a few clicks. Deposits from banks to Wealthsimple normally take only a few days. Funds can also be withdrawn a chequing or savings account through the same method.
What Other Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is equivalent to Interac e-Transfers which allow you to quickly and simply transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for tax season and submit your tax return online free. It’s described to be easy, accurate and always totally free tax filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings account which lets one to get 1% cashback on your purchases, as well as get a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform which offers a ton of online courses on different topics such as saving, investing, crypto, home buying and much more.
Each of the listed products, including Wealthsimple Trade can be found on the app and at the site with your Wealthsimple login.
But How do I Start With Wealthsimple Trade?
Click here to register for a new Wealthsimple Trade account. For an exclusive signup bonus offer to our readers you will receive the equivalent cash value of a share valued at up to $4,500 CAD as soon as you add funds to your account.
So What if I Still Have Questions About Delete Wealthsimple Account?
If this review hasn’t answered all of your questions, and you’re browsing for further specific answers about Delete Wealthsimple Account, check out the Wealthsimple website to find answers to each your questions.