What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital Financial, stock plus crypto trading app that sets itself apart from similar apps by charging absolutely no fees.
A Toronto, Ontario based online financial services company founded in Autumn of twenty fourteen exclusively as a robo-advisor algorithmic trading platform named Wealthsimple Invest, it has improved significantly over the previous eight years to also feature Wealthsimple Trade, a no fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets Canadian investors trade both single stocks and ETFs without having to pay any fees. The exception to this is when trading stocks and ETFs that are listed in USD currency. In which case, they charge a small currency conversion fee when buying and selling. However, past us are the times of paying more than $7 per trade with discount brokerages as was expected only a couple years past.
Exactly How Much in Funds do I Need to Start Investing on Wealthsimple Trade?
Wealthsimple is cool in that they allow investors to make a minimum deposit of only $1. Many traditional banks and brokerages have large min deposit amounts of 1K-5K. This makes it tough for the every day investor to get started. With Wealthsimple Trade, one doesn’t need to already be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Have Registered Accounts?
They do. Wealthsimple Trade offers registered and non-CRA-registered account types. You are able to select between both RRSP and TFSA accounts in the setup phase.
Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a convenient mobile app that is offered on Apple and Google Play. The mobile app makes the signup process and the trading of stocks and ETFs truly painless.
But Is Wealthsimple Trade Secure?
Definitely. Wealthsimple Trade is safe. Wealthsimple boasts in excess of 15 billion Canadian in Assets Under Management . This company has been in business for more than 7 years and right now employs roughly 600 Canadians. The main shareholder is the admired public Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fees online discount brokerage to operate in Canada.
How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it straight forward to add funds to your new account. Just connect the app to a chequing or savings account with your Trade account, and add funds to your account in only a couple of clicks. Deposits from banks to Wealthsimple usually take just a few days. Funds can just as easily be moved back to a chequing or savings account through the same method.
What Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An equivalent to e-Transfers which allow anyone to quickly and simply transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for this tax season and file your tax return online free. It’s described as easy, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid pre paid visa and savings product that lets you to earn 1% cashback on all your purchases, as well as get a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform which includes a variety of different courses on topics like saving, investments, crypto, mortgages and more.
Each of the above products, including Wealthsimple Trade can be accessed in the mobile app or on their site with a single login.
So How Should I Get Started Using Wealthsimple Trade?
Click here to setup a new Wealthsimple Trade account. For a special registration bonus for our audience you will get 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 Ethereum Wealthsimple?
If this review hasn’t answered each of your questions, and you’re looking for additional answers about Ethereum Wealthsimple, check out the Wealthsimple site for answers to each your questions.