Wealthsimple Debit Card

What Exactly is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian digital investing, stock plus crypto trading platform that differentiates itself from its competitors by charging no fees. 

A fintech business founded in Fall of 2014 exclusively as a robo advisor algorithmic automated trading app named Wealthsimple Invest, it has evolved substantially over the last 8 years to feature Wealthsimple Trade, a no fees discount brokerage service.

Does Wealthsimple Trade Charge Its Users Fees?

Wealthsimple Trade allows Canadian consumers trade single stocks and also ETFs without needing to pay commissions. The exception is when you’re trading stocks and ETFs that are listed in USD currency. In which case, they will charge a currency conversion fee when buying and selling. However, past us are the times of paying Upwards of $7 per each trade with online discount brokerages as was common only a few years ago.

How Much Cash Will I Need in Order to Start With Wealthsimple Trade?

Wealthsimple is special such that they allow investors to make a minimum deposit of just $1. The majority of alternative banks and brokerages have sizeable min deposit amounts of $1,000-5K. This makes it difficult for the everyday new investor to get started. With Wealthsimple Trade, you won’t need to already be wealthy to start trading stocks and ETFs.

Does Wealthsimple Trade Offer RRSP Accounts?

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

Does Wealthsimple Trade Have a Mobile Application?

Yes, Wealthsimple Trade offers a convenient mobile app that is offered to download on both Apple and also Google Play. The smartphone app makes the signup steps and trading of stocks and ETFs incredibly easy.

Is Wealthsimple Trade Safe?

For sure. Wealthsimple Trade is trustworthy. Wealthsimple boasts in excess of 15 billion CAD in Assets Under Management . They have been in business for more than 7 years and also at this time employs more than 600 people. The primary shareholder is the public Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fee digital brokerage operating in Canada.

How Can I Add Funds to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it quite simple to add money to a new account. Simply connect to a chequing or savings account with your Trade account, then fund your account in simply a few steps. Deposits from your bank to Wealthsimple typically take only a few days. Funds can also be moved to your chequing or savings account with the exact same steps.

Which Additional Features and Products Are Available?

Wealthsimple Cash – This is alternative to E-transfers that allow you to quickly and efficiently send cash to friends and family in Canada.

Wealthsimple Tax – Everything you’ll need to prepare for this tax year and submit your tax return online for free. It’s advertised as easy, accurate and always totally free tax return filing.

Wealthsimple Spend – A hybrid pre paid debit card and savings account which allows one to recieve 1% cashback on your purchases, and also earn a competitive 1.5% interest rate on savings.

Personal Finance 101 – Wealthsimple’s free personal finance education platform which includes a bunch of online courses on topics like saving, investments, crypto, real estate and much more. 

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

So How Should I Get Started Using Wealthsimple Trade?

Click here to create your Wealthsimple Trade account. For an exclusive signup bonus offer for our audience you will receive the equivalent cash value of a random Canadian stock worth up to $4,500 CAD when you add funds to your account.

So What if I Still Have Questions About Wealthsimple Debit Card?

If this blog post hasn’t answered each of your questions, and you’re still browsing for more information relating to Wealthsimple Debit Card, visit the Wealthsimple website to find answers to every one of your questions.