What is Wealthsimple?
Wealthsimple is a simple to use Canadian online Financial, stock plus crypto trading web app that distinguishes itself from similar apps by charging no fees.
A Toronto, Ontario based online financial services company founded in Fall twenty fourteen exclusively as a robo advisor algorithmic automated trading app named Wealthsimple Invest, it has evolved significantly over the past 8 years to also feature Wealthsimple Trade, a no fee discount brokerage app.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows Canadian investors trade both single stocks and also ETFs without having to pay any fees. The exception to this is when you’re trading stocks and ETFs that are listed in USD. In this case, they charge a small currency conversion fee when buying and selling. However, gone are the times of having to pay Upwards of $7 per each trade with digital discount brokerages as was common a couple years ago.
Exactly How Much Cash Will I Need to Have in Order to Start Investing With Wealthsimple Trade?
Wealthsimple is awesome in that they allow new customers to make a minimum deposit of just $1. Most alternative banks and brokerages have sizeable initial deposit amounts of 1k-$5,000. This makes it hard for the everyday new investor to start investing. With Wealthsimple Trade, one doesn’t need to be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Have Registered Accounts?
Of course. Wealthsimple Trade offers registered and non-CRA-registered account types. You can choose both RRSP and TFSA account types during the setup wizard.
But Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a modern mobile app offered on both iOS and also Android. The app makes the registration steps and the trading of stocks and ETFs super a breeze.
So Is Wealthsimple Trade Safe?
. Wealthsimple Trade is safe. Wealthsimple boasts in excess of 15 billion Canadian in Assets Under Management (AUM). This company has been doing business for more than 7 years and at this time employs about 600 Canadians. The majority owner is the respected publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fees online discount brokerage to operate in Canada.
How Do I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it easy to add money to a new account. Just connect a chequing or savings account to your Trade account, and then add funds to your account in simply a couple of steps. Deposits from banks to Wealthsimple typically take only a few days. Funds can also be withdrawn your chequing or savings account by using the exact same process.
What Additional Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is alternative to Interac e-transfers which allows anyone to quickly and easily transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for this tax year and file your taxes online free. It’s described as easy, accurate and always totally free tax filing.
Wealthsimple Spend – A hybrid prepaid visa and savings account that allows one to earn 1% cashback on your everyday purchases, and also earn a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which offers a ton of different courses on topics like saving, investments, crypto, mortgages and more.
Each of the above products, along with Wealthsimple Trade may be accessed inside the app and on the site with a single login.
But How Can I Start Using Wealthsimple Trade?
Click here to setup a new Wealthsimple Trade account. For a special registration bonus offer for our audience you’ll receive the cash value of a random Canadian stock worth up to $4,500 CAD as soon as you make an initial deposit to your account.
But What if I Still Have Additional Questions About Wealthsimple Financial Corp?
If this article still hasn’t given you the answers to each of your questions, and you’re looking for additional facts about Wealthsimple Financial Corp, go to the Wealthsimple website to get answers to all your questions.