What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based investing, stock plus crypto trading app that differentiates itself from the competition by charging no fees.
A online financial services business founded in the Autumn twenty fourteen originally as a robo-advisor trading platform called Wealthsimple Invest, it has changed substantially over the last eight years to feature Wealthsimple Trade, a no fee discount brokerage service.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows consumers trade both individual stocks and ETFs without paying any fees. The exception to this is when you’re trading securities which are listed in US Dollars. In that case, they will charge a nominal currency conversion fee when buying and selling. But, behind us are the times of paying Upwards of $7 per each trade with digital discount brokerages as was the case a few years ago.
Exactly How Much Cash do I Need to Have to Get Started on Wealthsimple Trade?
Wealthsimple is unique such that they allow new customers to make a minimum deposit of only $1. Most traditional banks and brokerages have sizeable initial deposit amounts of 1K-$5000. This makes it tough for the every day new investor to get started. With Wealthsimple Trade, you won’t have to already be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Have RRSP Accounts?
Yes. Wealthsimple Trade offers both CRA registered and non-registered account types. One can choose between both RRSP and TFSA accounts in the setup process.
Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a convenient mobile app offered on Apple and Android. The app makes the enrollment steps and trading of stocks and ETFs painless.
Is Wealthsimple Trade Secure?
Of course. Wealthsimple Trade is secure. Wealthsimple reports in excess of 15 billion Canadian of Assets Under Management (AUM). These folks have been in business for more than 7 years and also currently employs roughly 600 folks. The majority shareholder is the respected public Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fee digital discount brokerage operating in Canada.
So How Does One Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so easy to deposit to a new account. Simply connect the app to a chequing or savings account to your Trade account, then add funds to your account in only a few clicks. Deposits from financial institutions to Wealthsimple usually take a few days. Funds can just as easily be moved back to your chequing or savings accounts by the same steps.
What Other Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to Interac e-Transfers which allow you to quickly and efficiently transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for tax season and submit your tax return online for free. It’s pitched as simple, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings account which allows one to recieve 1% cashback on your everyday spending, as well as earn a very competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that includes a bunch of different courses on topics like saving, investing, crypto, real estate and much more.
All of the mentioned features, along with Wealthsimple Trade can be found inside the app and at the website with a single login.
So How do I Start Using Wealthsimple Trade?
Click here to signup for a new Wealthsimple Trade account. For a special registration bonus for our audience you’ll receive the cash value of a share valued at up to $4,500 Canadian once you add funds to your account.
What if I Still Have Additional Questions Concerning Fractional Shares Wealthsimple?
If this blog post hasn’t given you the answers to each of your questions, and you’re still looking for additional info relating to Fractional Shares Wealthsimple, visit the Wealthsimple website for answers to every one of your questions.