What is Wealthsimple?
Wealthsimple is a simple to use Canadian online investing, securities plus crypto trading app that sets itself apart from the competition by charging no fees.
A online financial services business launched in the Fall of twenty fourteen originally as a robo advisor trading platform called Wealthsimple Invest, it has changed considerably over the past 8 years to feature Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets consumers trade single stocks and ETFs without needing to pay fees. The exception to this is when trading ETFs and stocks that are denominated in US Dollars. In this case, they do charge a nominal currency conversion fee when buying and selling. But, past us are the days of paying $7-12 per each trade with discount brokerages as was expected just a few years past.
How Much in Funds do I Need to Have in Order to Start Investing on Wealthsimple Trade?
Wealthsimple is cool such that they allow investors to make a minimum deposit of just $1. Many traditional banks and discount brokerages have large initial deposit amounts of 1k-5K. This makes it hard for the every day new investor to get started. With Wealthsimple Trade, one doesn’t need to already be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Offer TFSA Accounts?
Of course. Wealthsimple Trade has registered and non-CRA-registered accounts. You are free to select both RRSP and TFSA account types during the setup wizard.
Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a easy to use mobile app that is available to download on IOS and also Android. The app makes the registration phase and also trading of stocks and ETFs incredibly a breeze.
So Is Wealthsimple Trade Legit?
. Wealthsimple Trade is trustworthy. Wealthsimple reports over 15 billion CAD of Assets Under Management (AUM). They have been expanding for more than 7 years and also currently employs about 600 people. The majority owner is the publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fees digital brokerage operating in Canada.
But How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very easy to add funds to an account. Just connect to a chequing or savings account with your Trade account, and then add money to your account in only a couple of clicks. Deposits from financial institutions to Wealthsimple typically take only a couple of days. Funds can the same way can be withdrawn your chequing or savings account with the same steps.
What Other Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to Interac E-Transfers that allow you to quickly and easily send cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for this tax year and submit your tax return online free. It’s described as easy, accurate and always free tax filing.
Wealthsimple Spend – A combination prepaid visa and savings account that lets one to earn 1% cashback on your everyday purchases, as well as earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that includes a ton of different courses on topics like saving, investments, crypto, real estate and much more.
Each of the mentioned products, along with Wealthsimple Trade can be found in the app and at the site with one login.
But How Should I Get Started With Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. As an exclusive signup bonus offer for our audience you’ll get the cash value of a random stock worth $25 up to $4,500 CAD as soon as you deposit to your account.
But What if I Still Have Questions About Is Wealthsimple Down?
If this blog post hasn’t given you the answers to each of your questions, and you’re still looking for additional specific answers relating to Is Wealthsimple Down, visit the Wealthsimple site to get answers to each your questions.