What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based investing, securities and crypto trading web app that differentiates itself from the competition by charging absolutely no fees.
A fintech business launched in Fall 2014 exclusively as a robo advisor algorithmic automated trading platform named Wealthsimple Invest, it has evolved substantially over the past eight years to feature Wealthsimple Trade, a no fees discount brokerage platform.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets consumers to trade individual stocks and also ETFs without paying any fees. The exception is when trading stocks that are displayed in USD. In this case, they do charge a nominal currency conversion fee when buying and selling. However, past us are the times of paying more than $7 per trade with online discount brokerages as was normal only a couple years ago.
How Much in Funds do I Need to Start Investing With Wealthsimple Trade?
Wealthsimple is special such that they allow Canadians to make a minimum deposit of only $1. Many traditional banks and brokerages have large min deposit amounts of 1k-$5000. This makes it impossible for the normal new investor to start. With Wealthsimple Trade, one doesn’t need to be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Offer Registered Accounts?
Of course. Wealthsimple Trade has available both CRA registered and non-CRA-registered accounts. You can choose both RRSP and TFSA accounts in the setup wizard.
But Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a modern mobile app available to download on iOS and Android. The app makes the signup steps and the trading of stocks and ETFs truly a breeze.
Is Wealthsimple Trade Legit?
Of course. Wealthsimple Trade is secure. Wealthsimple reports more than 15 billion CAD in Assets Under Management . These folks have been operating for more than 7 years and also currently employs over 600 folks. The controlling owner is the large publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fee online brokerage operating in Canada.
So How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so simple to add money to your account. Just connect to a chequing or savings account to your Trade account, and then fund your account in simply a couple of clicks. Deposits from banks to Wealthsimple normally take only a couple of days. Funds can the same way can be moved to your chequing or savings accounts by the exact same method.
What Other Benefits and Products Are Available?
Wealthsimple Cash – An equivalent to E-transfers which allows one to quickly and simply transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for this tax year and submit your tax return online free. It’s described to be simple, accurate and always totally free income tax filing.
Wealthsimple Spend – A combination prepaid debit card and savings account which lets one to earn 1% cashback on all your everyday purchases, and also earn a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform that includes a bunch of different courses on topics like saving, investments, crypto, home buying and more.
Each of the listed features, along with Wealthsimple Trade can be accessed within the mobile app and from the website with a single login.
How do I Begin Using Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. For a special registration bonus for our readers you will receive the cash value of a stock valued at up to $4,500 CAD as soon as you fund your account.
But What if I Still Have Questions About Wealthsimple Founder?
If this review still hasn’t answered all of your questions, and you’re still looking for more specific answers about Wealthsimple Founder, visit the Wealthsimple site to find answers to each your questions.