What is Wealthsimple?
Wealthsimple is an easy to use Canadian online Financial, securities and crypto trading platform that differentiates itself from its competitors by charging absolutely no fees.
A online financial services company founded in Autumn 2014 exclusively as a robo-advisor trading app called Wealthsimple Invest, it has grown substantially over the past eight years to include Wealthsimple Trade, a no fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets investors to trade both stand alone stocks and ETFs without paying any commissions. The exception is when trading ETFs and stocks that are denominated in USD currency. In this case, they will charge a nominal currency conversion fee when buying and selling. But, past us are the days of having to pay more than $7 per trade with online discount brokerages as was the norm only a few years past.
Exactly How Much Money do I Need to Have to Start Investing With Wealthsimple Trade?
Wealthsimple is special such that they allow investors to make a minimum deposit of only $1. The majority of traditional banks and brokerages have quite large minimum deposit amounts of $1000-5K. This makes it impossible for the everyday new investor to start. With Wealthsimple Trade, you don’t have to be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Offer Registered Accounts?
It does. Wealthsimple Trade has available CRA registered and non-registered account types. You are free to choose both RRSP and TFSA accounts during the setup wizard.
But Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a well designed mobile app available on both iOS and also Google Play. The smartphone app makes the registration steps and also the trading of stocks and ETFs incredibly easy.
But Is Wealthsimple Trade Trustworthy?
Definitely. Wealthsimple Trade is trustworthy. Wealthsimple has more than 15 billion CAD in Assets Under Management . This company has been doing business for more than 7 years and employs more than 600 folks. The main owner is the respected publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade was the very first no-fee online brokerage operating in Canada.
So How Does One Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so straight forward to add funds to your account. Just connect the app to a chequing or savings account with your Trade account, and then add money to your account in simply a couple of steps. Deposits from financial institutions to Wealthsimple typically take just a few days. Funds can the same way can be moved back to your chequing or savings account by using the same process.
What Additional Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An alternative to e-Transfers which allow one to quickly and easily transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for this tax season and submit your tax return online for free. It’s pitched to be simple, accurate and always totally free income tax filing.
Wealthsimple Spend – A combination pre paid visa and savings account which allows one to earn 1% cashback on your spending, and also get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform which includes a bunch of different online courses on topics like saving, investing, crypto, home buying and much more.
Each of the above products, along with Wealthsimple Trade may be found in the mobile app and from their site with a single login.
So How Should I Get Started With Wealthsimple Trade?
Click here to signup for a new Wealthsimple Trade account. As an exclusive registration bonus to our readers you will get the equivalent cash value of a share valued at $25 up to $4,500 Canadian as soon as you deposit to your account.
What if I Still Have Questions About Wealthsimple Digital Assets Inc?
If this article didn’t answered each of your questions, and you’re looking for additional facts relating to Wealthsimple Digital Assets Inc, check out the Wealthsimple site to get answers to all your questions.