What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online investing, securities plus crypto trading web app that differentiates itself from its competitors by charging no fees.
A fintech business founded in Autumn 2014 exclusively as a robo advisor algorithmic automated trading app named Wealthsimple Invest, it has improved considerably over the previous 8 years to include Wealthsimple Trade, a no fee discount brokerage service.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows investors to trade both stand alone stocks and also ETFs without having to pay any commissions. The exception is when trading stocks and ETFs which are listed in USD currency. In that case, they charge a currency conversion fee both when buying and selling. But, behind us are the days of having to pay more than $7 per trade with discount brokerages as was expected only a couple years past.
Exactly How Much in Funds do I Need to Start on Wealthsimple Trade?
Wealthsimple is special such that they allow Canadian investors to make a minimum deposit of only $1. Most alternative banks and discount brokerages have quite large initial deposit amounts of $1,000-$5000. This makes it hard for the every day new investor to get started. With Wealthsimple Trade, you won’t need to be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Have Registered Accounts?
Yes. Wealthsimple Trade offers CRA registered and non-CRA-registered accounts. One are free to select both RRSP and TFSA account types during the setup wizard.
Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a well designed mobile app that is offered to download on Apple and Android. The mobile app makes the enrollment process and also trading of stocks and ETFs truly painless.
So Is Wealthsimple Trade Legit?
Most definitely. Wealthsimple Trade is legit. Wealthsimple boasts in excess of 15 billion Canadian of Assets Under Management (AUM). This company has been in business for more than 7 years and employs about 600 people. The majority shareholder is the public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fee online brokerage operating in Canada.
How Do I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it simple to add funds to your account. Simply connect a chequing or savings account with your Trade account, and fund your account in simply a few steps. Deposits from your bank to Wealthsimple normally take only a couple of days. Funds can the same way can be moved to a chequing or savings account using the exact same steps.
Which Additional Features and Products Are Offered by Wealthsimple?
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 need to prepare for this tax season and file your tax return online free. It’s advertised to be easy, accurate and always free income tax filing.
Wealthsimple Spend – A hybrid pre paid visa and savings account which allows one to recieve 1% cashback on all your everyday spending, and also earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that offers a variety of different courses on different topics such as saving, investments, crypto, mortgages and more.
Each of the listed features, along with Wealthsimple Trade may be found in the app and at their website with one login.
So How do I Get Started With Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. For a special registration bonus offer for our readers you’ll get the cash value of a random Canadian stock valued at up to $4,500 Canadian once you deposit to your account.
What if I Still Have Questions About Wealthsimple Hours?
If this review didn’t given you the answers to all of your questions, and you’re still browsing for further info about Wealthsimple Hours, visit the Wealthsimple site for answers to each your questions.