What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based investing, stock plus crypto trading platform that differentiates itself from the competition by charging absolutely no fees.
A Toronto, Ontario based fintech business founded in Autumn 2014 originally as a robo-advisor algorithmic automated trading app named Wealthsimple Invest, it has improved significantly over the previous eight years to also feature Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows investors trade single stocks and also ETFs without needing to pay fees. The exception is when you’re trading stocks and ETFs that are displayed in US Dollars. In which case, they charge a small currency conversion fee both when buying and selling. But, gone are the times of having to pay Upwards of $7 per each trade with discount brokerages as was the case just a few years past.
Exactly How Much Cash do I Need to Begin Investing on Wealthsimple Trade?
Wealthsimple is cool such that they allow Canadian investors to make a minimum deposit of just $1. The majority of alternative banks and discount brokerages have sizeable minimum deposit amounts of 1K-$5000. This makes it difficult for the normal new investor to start. With Wealthsimple Trade, one doesn’t need to be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Offer TFSA Accounts?
It does. Wealthsimple Trade has available both CRA registered and non-registered accounts. One are able to select both RRSP and TFSA accounts during the setup wizard.
So Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a well designed mobile app offered to download on IOS and also Android. The smartphone app makes the enrollment phase and also trading of stocks and ETFs very painless.
Is Wealthsimple Trade Trustworthy?
For sure. Wealthsimple Trade is safe. Wealthsimple reports in excess of 15 billion CAD of Assets Under Management . they’ve been operating for more than 7 years and also right now employs more than 600 Canadians. The controlling owner is the public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fee digital brokerage to operate in Canada.
But How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so easy to add funds to a new account. Simply connect to a chequing or savings account to your Trade account, and then fund your account in just a couple of steps. Deposits from financial institutions to Wealthsimple usually take a couple of days. Funds can the same way can be moved to a chequing or savings account with the exact same process.
Which Additional Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to E-Transfers which allows anyone to quickly and simply transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for this tax season and file your tax return online free. It’s described to be simple, accurate and always totally free tax filing.
Wealthsimple Spend – A combination prepaid visa and savings account which allows you to recieve 1% cashback on your everyday purchases, and also get a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that offers a variety of courses on topics like saving, investments, crypto, home buying and much more.
Each of the listed features, including Wealthsimple Trade may be accessed on the app and on the website with a single login.
How do I Start Using Wealthsimple Trade?
Click here to create a new Wealthsimple Trade account. As an exclusive registration bonus for our audience you will receive the cash value of a Canadian stock valued at up to $4,500 Canadian as soon as you deposit to your account.
So What if I Still Have Additional Questions Related to Wealthsimple Invest?
If this blog post didn’t answered each of your questions, and you’re still searching for more answers about Wealthsimple Invest, check out the Wealthsimple website to find answers to every one of your questions.