What is Wealthsimple?
Wealthsimple is an easy to use Canadian digital investing, securities plus crypto trading app that differentiates itself from other apps by charging absolutely no fees.
A fintech company founded in the Autumn of twenty fourteen exclusively as a robo advisor algorithmic trading app called Wealthsimple Invest, it has improved considerably over the last 8 years to also include Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows investors to trade individual stocks and also ETFs without needing to pay fees. The exception to this is when trading securities that are denominated in USD. In that case, they will charge a currency conversion fee when buying and selling. But, gone are the times of having to pay $7-12 per each trade with online discount brokerages as was the case just a few years past.
How Much in Funds do I Need to Have to Get Started With Wealthsimple Trade?
Wealthsimple is unique in that they will allow new customers to make a minimum deposit of only $1. Most traditional banks and brokerages have sizeable minimum deposit amounts of 1K-5k. This makes it tough for the common new investor to start investing. With Wealthsimple Trade, you don’t have to be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Offer Registered Accounts?
It does. Wealthsimple Trade offers both registered and non-registered account types. You are free to select between both RRSP and TFSA account types in the setup process.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a modern mobile app offered on both Apple and Android. The mobile app makes the enrollment phase and also trading of stocks and ETFs truly painless.
Is Wealthsimple Trade Safe?
Of course. Wealthsimple Trade is safe. Wealthsimple boasts over 15 billion Canadian of Assets Under Management . These folks have been doing business for more than 7 years and employs more than 600 Canadians. The majority shareholder is the publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade is the very first no-fee online discount brokerage to operate in Canada.
But How Can I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very straight forward to fund your new account. Just connect to a chequing or savings account to your Trade account, and then fund your account in only a few clicks. Deposits from financial institutions to Wealthsimple typically take only a couple of days. Funds can just as easily be moved back to your chequing or savings account by using the same steps.
Which Additional Benefits and Products Are Available?
Wealthsimple Cash – An alternative to Interac E-Transfers that allows one to quickly and simply transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for tax season and file your tax return online free. It’s advertised as easy, accurate and always free income tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings product which allows you to recieve 1% cashback on your purchases, and also earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform which includes a variety of different courses on different topics such as saving, investing, crypto, home buying and more.
Each of the mentioned products, along with Wealthsimple Trade can be accessed in the mobile app or on the website with a single login.
So How Can I Begin Using Wealthsimple Trade?
Click here to create a Wealthsimple Trade account. For a special registration bonus to our audience you’ll receive the equivalent cash value of a share valued at up to $4,500 Canadian once you deposit to your account.
What if I Still Have Additional Questions Related to Wealthsimple Growth Portfolio?
If this review hasn’t answered each of your questions, and you’re still looking for additional facts relating to Wealthsimple Growth Portfolio, go to the Wealthsimple site to get answers to every one of your questions.