What is Wealthsimple?
Wealthsimple is an easy to use Canadian web based investing, securities plus crypto trading web app that sets itself apart from the competition by charging no fees.
A online financial services business founded in the Autumn of 2014 originally as a robo advisor automated trading platform called Wealthsimple Invest, it has grown considerably over the last eight years to feature Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows consumers to trade both single stocks and ETFs without paying fees. The exception to this is when you’re trading securities that are displayed in USD currency. In that case, they charge a nominal currency conversion fee both when buying and selling. However, past us are the times of having to pay more than $7 per trade with discount brokerages as was common just a couple years ago.
How Much Cash Will I Need to Have to Begin Investing on Wealthsimple Trade?
Wealthsimple is special such that they allow new customers to make a minimum deposit of just $1. The majority of alternative banks and discount brokerages have large min deposit amounts of $1000-5K. This makes it tough for the typical investor to start investing. With Wealthsimple Trade, you don’t have to already be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Have Registered Accounts?
Of course. Wealthsimple Trade has both CRA registered and non-CRA-registered account types. You may select both RRSP and TFSA account types during the setup process.
Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a convenient mobile app available to download on both iOS and also Android. The smartphone app makes the registration process and also trading of stocks and ETFs super simple.
So Is Wealthsimple Trade Secure?
Yes. Wealthsimple Trade is legit. Wealthsimple reports in excess of 15 billion Canadian of Assets Under Management . They have been operating for more than 7 years and now employs more than 600 people. The controlling shareholder is the respected publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade is the very first no-fee online discount brokerage to operate in Canada.
So How Can I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly straight forward to add funds to your new account. Just connect the app to a chequing or savings account to your Trade account, then add money to your account in just a few clicks. Deposits from financial institutions to Wealthsimple usually take just a few days. Funds can the same way can be withdrawn a chequing or savings account with the same method.
Which Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An alternative to Interac E-Transfers which allow one to quickly and simply transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for this tax season and file your taxes online for free. It’s advertised to be simple, accurate and always totally free income tax filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings product that allows one to get 1% cashback on all your purchases, and also get a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform which offers a variety of online courses on saving, investing, crypto, home buying and more.
Every one of the mentioned products, along with Wealthsimple Trade may be found within the mobile app and on the website with your Wealthsimple login.
But How Should I Start With Wealthsimple Trade?
Click here to create a Wealthsimple Trade account. As an exclusive registration bonus offer to our readers you’ll receive the equivalent cash value of a random stock valued at up to $4,500 CAD when you add funds to your account.
So What if I Still Have Questions About Wealthsimple Dividend Stocks?
If this article still hasn’t given you the answers to each of your questions, and you’re looking for additional specific information relating to Wealthsimple Dividend Stocks, visit the Wealthsimple site to find answers to all your questions.