Wealthsimple Insurance

What Exactly is Wealthsimple?

Wealthsimple is an easy to use Canadian web based investing, securities plus crypto trading web app that sets itself apart from its competitors by charging absolutely no fees. 

A leading Canadian online financial services company founded in the Fall twenty fourteen originally as a robo-advisor algorithmic automated trading app named Wealthsimple Invest, it has changed significantly over the previous eight years to also feature Wealthsimple Trade, a no fee discount brokerage service.

Does Wealthsimple Trade Charge Fees?

Wealthsimple Trade allows consumers to trade both single stocks and ETFs without paying any fees. The exception to this is when you’re trading ETFs and stocks which are denominated in USD currency. In this case, they will charge a small currency conversion fee when buying and selling. But, behind us are the days of having to pay more than $7 for each trade with digital discount brokerages as was the norm just a couple years past.

Exactly How Much Money do I Need to Have to Get Started With Wealthsimple Trade?

Wealthsimple is awesome such that they allow Canadian investors to make a minimum deposit of only $1. Many alternative banks and discount brokerages have sizeable min deposit amounts of 1k-$5,000. This makes it tough for the normal investor to start. With Wealthsimple Trade, you won’t have to be wealthy to start trading stocks and ETFs.

But Does Wealthsimple Trade Have Registered Accounts?

Of course. Wealthsimple Trade has CRA registered and non-CRA-registered account types. One can choose between both RRSP and TFSA accounts in the setup wizard. 

So Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade has a convenient mobile app offered to download on both Apple and Google Play. The app makes the signup process and the trading of stocks and ETFs very simple.

Is Wealthsimple Trade Trustworthy?

Definitely. Wealthsimple Trade is safe. Wealthsimple has in excess of 15 billion CAD of Assets Under Management (AUM). This company has been in business for more than 7 years and also at this time employs about 600 folks. The majority shareholder is the respected publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade was the first no-fee online brokerage operating in Canada.

How Do I Add Funds to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it quite easy to fund your new account. Simply connect the app to a chequing or savings account with your Trade account, and then fund your account in simply a couple of steps. Deposits from banks to Wealthsimple normally take only a few days. Funds can also be withdrawn a chequing or savings accounts with the exact same steps.

What Other Benefits and Products Are Available?

Wealthsimple Cash – This is equivalent to e-Transfers which allows anyone to quickly and efficiently send cash to friends and family in Canada.

Wealthsimple Tax – Everything you’ll need to get ready for tax year and submit your taxes online for free. It’s pitched as simple, accurate and always free income tax filing.

Wealthsimple Spend – A combination pre paid visa and savings product which allows you to earn 1% cashback on all your everyday purchases, as well as earn a very competitive 1.5% interest rate on savings.

Personal Finance 101 – Wealthsimple’s free personal finance education platform that includes a variety of different online courses on topics like saving, investing, crypto, real estate and more. 

Each of the mentioned features, including Wealthsimple Trade can be found on the app and from the website with one login.

But How do I Start With Wealthsimple Trade?

Click here to signup for your Wealthsimple Trade account. For an exclusive signup bonus offer to our readers you’ll get the equivalent cash value of a share valued at up to $4,500 Canadian when you fund your account.

But What if I Still Have Questions Concerning Wealthsimple Insurance?

If this blog post still hasn’t answered each of your questions, and you’re still looking for additional answers about Wealthsimple Insurance, go to the Wealthsimple site for answers to each your questions.