Wealthsimple Crypto

What Exactly is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian online Financial, stock plus crypto trading app that distinguishes itself from similar apps by charging no fees. 

A fintech company founded in the Autumn twenty fourteen exclusively as a robo advisor algorithmic automated trading app named Wealthsimple Invest, it has improved significantly over the previous eight years to also feature Wealthsimple Trade, a zero fee discount brokerage platform.

Does Wealthsimple Trade Charge Any Fees?

Wealthsimple Trade allows Canadian consumers trade both single stocks and ETFs without having to pay any fees. The exception is when you’re trading ETFs and stocks that are denominated in USD currency. In which case, they will charge a nominal currency conversion fee both when buying and selling. However, behind us are the days of paying Upwards of $7 per trade with discount brokerages as was normal just a couple years past.

How Much in Funds do I Need to Have in Order to Start Investing With Wealthsimple Trade?

Wealthsimple is special such that they allow new customers to make a minimum deposit of only $1. Many alternative banks and discount brokerages have quite large minimum deposit amounts of 1K-5K. This makes it difficult for the typical new investor to start. With Wealthsimple Trade, you won’t need to be wealthy to start trading stocks and ETFs.

But Does Wealthsimple Trade Have TFSA Accounts?

It does. Wealthsimple Trade has registered and non-registered accounts. You 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 easy to use mobile app offered on iOS and also Google Play. The smartphone app makes the signup phase and trading of stocks and ETFs super a breeze.

So Is Wealthsimple Trade Safe?

. Wealthsimple Trade is legit. Wealthsimple boasts over 15 billion Canadian in Assets Under Management (AUM). These folks have been operating for more than 7 years and at this time employs more than 600 Canadians. The main shareholder is the large publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the first no-fee online discount brokerage operating in Canada.

So How Does One Add Funds to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it very easy to add money to a new account. Just connect a chequing or savings account with your Trade account, and then add money to your account in only a couple of steps. Deposits from banks to Wealthsimple normally take a few days. Funds can also be withdrawn your chequing or savings accounts with the same steps.

What Additional Features and Products Does Wealthsimple Offer?

Wealthsimple Cash – This is equivalent to e-transfers that allow anyone to quickly and simply send cash to friends and family in Canada.

Wealthsimple Tax – Everything you need to get ready for tax year and file your taxes online for free. It’s advertised as simple, accurate and always totally free tax return filing.

Wealthsimple Spend – A combination prepaid debit card and savings account that allows you to recieve 1% cashback on your spending, and also get a competitive 1.5% interest rate on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which includes a ton of different online courses on topics like saving, investments, crypto, home buying and much more. 

All of the listed products, along with Wealthsimple Trade may be found within the mobile app and from their website with a single login.

So How do I Get Started Using Wealthsimple Trade?

Click here to register for your Wealthsimple Trade account. As an exclusive signup bonus offer to our readers you’ll receive the cash value of a Canadian stock valued at up to $4,500 Canadian as soon as you deposit to your account.

So What if I Still Have Questions Related to Wealthsimple Crypto?

If this article hasn’t answered all of your questions, and you’re still looking for more specific answers relating to Wealthsimple Crypto, go to the Wealthsimple site to find answers to all your questions.