What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian online Financial, stocks and crypto trading app that differentiates itself from its competitors by charging no fees.
A fintech company launched in Fall of 2014 originally as a robo-advisor algorithmic trading platform called Wealthsimple Invest, it has evolved considerably over the previous eight years to include Wealthsimple Trade, a zero fees discount brokerage app.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets Canadian investors to trade both individual stocks and ETFs without having to pay commissions. The exception is when you’re trading ETFs and stocks which are displayed in USD currency. In which case, they do charge a nominal currency conversion fee both when buying and selling. But, gone are the times of paying more than $7 per each trade with digital discount brokerages as was normal a couple years past.
How Much in Funds do I Need to Have in Order to Begin Investing on Wealthsimple Trade?
Wealthsimple is special in that they will allow Canadians to make a minimum deposit of just $1. Most alternative banks and discount brokerages have sizeable minimum deposit amounts of 1k-$5,000. This makes it impossible for the typical investor to start. With Wealthsimple Trade, you won’t have to be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Offer TFSA Accounts?
Yes. Wealthsimple Trade offers CRA registered and non-CRA-registered accounts. One can choose between both RRSP and TFSA account types during the setup wizard.
Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a easy to use mobile app that is available to download on Apple and Android. The smartphone app makes the signup phase and also the trading of stocks and ETFs super a breeze.
Is Wealthsimple Trade Safe?
. Wealthsimple Trade is secure. Wealthsimple reports in excess of 15 billion Canadian in Assets Under Management . These folks have been operating for more than 7 years and also currently employs about 600 Canadians. The controlling shareholder is the admired publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade was the first no-fees online discount brokerage operating in Canada.
How Can I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so simple to deposit to your new account. Simply connect to a chequing or savings account with your Trade account, then add funds to your account in just a few clicks. Deposits from banks to Wealthsimple typically take just a few days. Funds can the same way can be moved back to your chequing or savings accounts using the same process.
What Additional Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An alternative to E-transfers that allow anyone to quickly and simply send cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for this tax season and submit your tax return online for free. It’s advertised as easy, accurate and always free tax filing.
Wealthsimple Spend – A hybrid pre paid visa and savings product which allows you to get 1% cashback on your everyday purchases, and also get a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that includes a variety of different courses on saving, investing, crypto, real estate and more.
Every one of the above products, including Wealthsimple Trade may be accessed within the app or on their site with your Wealthsimple login.
But How Can I Start With Wealthsimple Trade?
Click here to setup your Wealthsimple Trade account. For an exclusive signup bonus for our readers you’ll receive the cash value of a random Canadian stock valued at $25 up to $4,500 Canadian once you deposit to your account.
So What if I Still Have Questions About Founder Of Wealthsimple?
If this review still hasn’t answered all of your questions, and you’re still searching for more specific info relating to Founder Of Wealthsimple, visit the Wealthsimple site to get answers to each your questions.