What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online investing, stocks plus crypto trading web app that distinguishes itself from other apps by charging no fees.
A Toronto, Ontario based fintech company founded in Autumn 2014 originally as a robo advisor algorithmic automated trading platform named Wealthsimple Invest, it has grown substantially over the previous 8 years to include Wealthsimple Trade, a zero fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets Canadian consumers to trade stand alone stocks and also ETFs without needing to pay any fees. The exception to this is when you’re trading stocks which are listed in US Dollars. In this case, they do charge a currency conversion fee both when buying and selling. However, past us are the times of having to pay more than $7 per each trade with discount brokerages as was common only a few years past.
How Much Cash Will I Need to Have to Start Investing on Wealthsimple Trade?
Wealthsimple is special in that they will allow Canadians to make a minimum deposit of only $1. The majority of alternative banks and discount brokerages have quite large min deposit amounts of $1,000-$5000. This makes it impossible for the everyday investor to start. With Wealthsimple Trade, you don’t need to already be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Have Registered Accounts?
Of course. Wealthsimple Trade has CRA registered and non-CRA-registered accounts. One may select both RRSP and TFSA accounts in the setup process.
Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a well designed mobile app that is offered on both Apple and Google Play. The app makes the enrollment phase and the trading of stocks and ETFs very a breeze.
So Is Wealthsimple Trade Trustworthy?
. Wealthsimple Trade is safe. Wealthsimple boasts over 15 billion CAD of Assets Under Management . they’ve been in business for more than 7 years and now employs over 600 Canadians. The majority owner is the publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fees online discount brokerage operating in Canada.
So How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so straight forward to add funds to a new account. Simply connect the app to a chequing or savings account to your Trade account, and add money to your account in only a few steps. Deposits from banks to Wealthsimple typically take just a few days. Funds can just as easily be moved to a chequing or savings account with the exact same process.
What Other Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to E-transfers that allows one to quickly and efficiently transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for tax year and file your taxes online for free. It’s described as simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A hybrid prepaid visa and savings account that allows one to earn 1% cashback on your spending, as well as get a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform which offers a bunch of courses on topics like saving, investments, crypto, mortgages and more.
All of the above features, along with Wealthsimple Trade may be found in the app or from their website with a single login.
How Should I Begin Using Wealthsimple Trade?
Click here to register for a new Wealthsimple Trade account. As an exclusive registration bonus offer for our audience you will get the cash value of a random stock valued at $25 up to $4,500 CAD once you fund your account.
So What if I Still Have Questions About Wealthsimple Error Something Went Wrong?
If this article didn’t answered each of your questions, and you’re searching for further facts relating to Wealthsimple Error Something Went Wrong, go to the Wealthsimple website to find answers to all your questions.