What is Wealthsimple?
Wealthsimple is an easy to use Canadian digital investing, securities plus crypto trading web app that sets itself apart from the competition by charging no fees.
A Toronto, Ontario based online financial services company launched in the Fall 2014 originally as a robo-advisor algorithmic automated trading app called Wealthsimple Invest, it has improved significantly over the past 8 years to include Wealthsimple Trade, a zero fees discount brokerage service.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets Canadian investors to trade single stocks and also ETFs without paying any fees. The exception to this is when you’re trading ETFs and stocks that are displayed in USD. In which case, they will charge a nominal currency conversion fee both when buying and selling. But, past us are the days of having to pay more than $7 for each trade with online discount brokerages as was common only a few years ago.
How Much Cash do I Need to Have in Order to Start Investing With Wealthsimple Trade?
Wealthsimple is awesome such that they will allow Canadian investors to make a minimum deposit of only $1. Many alternative banks and brokerages have quite large min deposit amounts of $1,000-$5000. This makes it difficult for the typical investor to start. With Wealthsimple Trade, you don’t need to already be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Have RRSP Accounts?
It does. Wealthsimple Trade offers CRA registered and non-registered account types. One may select both RRSP and TFSA accounts in the setup phase.
But Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a well designed mobile app available to download on both iOS and also Android. The app makes the signup phase and the trading of stocks and ETFs incredibly painless.
But Is Wealthsimple Trade Safe?
For sure. Wealthsimple Trade is trustworthy. Wealthsimple reports over 15 billion CAD in Assets Under Management . These folks have been in business for more than 7 years and at this time employs more than 600 Canadians. The controlling owner is the large publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the very first no-fees digital discount brokerage operating in Canada.
How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very straight forward to deposit to an account. Just connect a chequing or savings account to your Trade account, and then add money to your account in simply a few steps. Deposits from banks to Wealthsimple normally take just a couple of days. Funds can the same way can be withdrawn your chequing or savings account by the same process.
Which Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to Interac E-Transfers that allow anyone to quickly and easily transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for this tax year and file your taxes online for free. It’s pitched to be simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings account that lets one to get 1% cashback on all your purchases, as well as get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that includes a bunch of online courses on different topics such as saving, investments, crypto, home buying and much more.
Every one of the listed features, including Wealthsimple Trade can be found within the app and at the website with one login.
So How Can I Begin With Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. For an exclusive registration bonus for our readers you’ll get the cash value of a random stock worth $25 up to $4,500 CAD as soon as you make an initial deposit to your account.
So What if I Still Have Questions Concerning Wealthsimple Dividends?
If this article still hasn’t given you the answers to all of your questions, and you’re still searching for more info relating to Wealthsimple Dividends, visit the Wealthsimple website to find answers to all your questions.