What is Wealthsimple?
Wealthsimple is a simple to use Canadian digital investing, securities and crypto trading app that sets itself apart from the competition by charging absolutely no fees.
A leading Canadian fintech business founded in Autumn of 2014 originally as a robo-advisor trading platform named Wealthsimple Invest, it has evolved significantly over the last eight years to also feature Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets consumers to trade single stocks and also ETFs without paying commissions. The exception is when you’re trading stocks and ETFs that are displayed in USD currency. In this case, they charge a nominal currency conversion fee when buying and selling. But, gone are the days of paying Upwards of $7 per trade with digital discount brokerages as was common only a few years ago.
Exactly How Much in Funds Will I Need to Have in Order to Start on Wealthsimple Trade?
Wealthsimple is cool in that they allow Canadian investors to make a minimum deposit of just $1. The majority of alternative banks and brokerages have sizeable min deposit amounts of 1K-$5000. This makes it tough for the typical investor to start. With Wealthsimple Trade, you don’t need to already be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Offer TFSA Accounts?
It does. Wealthsimple Trade has registered and non-registered account types. One can select both RRSP and TFSA account types in the setup wizard.
Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a convenient mobile app offered to download on both Apple and also Google Play. The app makes the signup steps and also trading of stocks and ETFs truly a breeze.
So Is Wealthsimple Trade Safe?
Of course. Wealthsimple Trade is trustworthy. Wealthsimple reports more than 15 billion CAD in Assets Under Management . These folks have been in business for more than 7 years and also currently employs more than 600 people. The controlling shareholder is the respected publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the very first no-fees online brokerage to operate in Canada.
But How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it straight forward to fund your account. Simply connect a chequing or savings account to your Trade account, and then add money to your account in just a couple of steps. Deposits from banks to Wealthsimple usually take a few days. Funds can the same way can be withdrawn your chequing or savings accounts by the same process.
What Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to Interac E-Transfers which allow you to quickly and efficiently send 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 for free. It’s advertised to be simple, accurate and always free income tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings account that allows one to get 1% cashback on your everyday spending, and also get a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform which includes a bunch of different courses on topics like saving, investing, crypto, real estate and much more.
Every one of the listed products, including Wealthsimple Trade can be accessed within the app and from their site with one login.
So How Should I Begin With Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. As a special registration bonus for our audience you’ll receive the cash value of a random share valued at $25 up to $4,500 Canadian once you fund your account.
What if I Still Have Additional Questions Concerning Wealthsimple High Interest Savings Account?
If this blog post hasn’t given you the answers to all of your questions, and you’re still looking for further answers relating to Wealthsimple High Interest Savings Account, visit the Wealthsimple website to get answers to every one of your questions.