What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online Financial, stocks plus crypto trading app that differentiates itself from other apps by charging absolutely no fees.
A fintech company founded in the Fall of 2014 exclusively as a robo-advisor automated trading app called Wealthsimple Invest, it has evolved significantly over the last eight years to also feature Wealthsimple Trade, a no fee discount brokerage service.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade allows investors trade stand alone stocks and also ETFs without needing to pay any fees. The exception to this is when you’re trading stocks which are listed in US Dollars. In that case, they will charge a nominal currency conversion fee both when buying and selling. But, gone are the times of paying Upwards of $7 for each trade with online discount brokerages as was the case just a few years past.
Exactly How Much in Funds Will I Need in Order to Get Started With Wealthsimple Trade?
Wealthsimple is cool in that they will allow Canadians to make a minimum deposit of just $1. Many traditional banks and discount brokerages have quite large initial deposit amounts of $1,000-$5,000. This makes it impossible for the common investor to start. With Wealthsimple Trade, you won’t have to be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Have Registered Accounts?
Of course. Wealthsimple Trade offers both registered and non-CRA-registered accounts. One are free to select between both RRSP and TFSA accounts during the setup wizard.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a modern mobile app that is available to download on both IOS and also Android. The mobile app makes the enrollment steps and trading of stocks and ETFs painless.
So Is Wealthsimple Trade Secure?
Definitely. Wealthsimple Trade is legit. Wealthsimple has more than 15 billion Canadian in Assets Under Management (AUM). they’ve been in business for more than 7 years and right now employs more than 600 folks. The controlling shareholder is the large publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is 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 quite easy to add money to an account. Just connect the app to a chequing or savings account with your Trade account, then add funds to your account in only a couple of steps. Deposits from banks to Wealthsimple normally take just a few days. Funds can the same way can be withdrawn a chequing or savings accounts with the exact same process.
What Additional Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to e-transfers that allow you to quickly and simply send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for this tax season and file your tax return online free. It’s described to be simple, accurate and always free tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings product which lets you to get 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 which offers a bunch of different online courses on saving, investing, crypto, home buying and much more.
All of the listed features, including Wealthsimple Trade may be accessed inside the app or at their site with your Wealthsimple login.
So How do I Start With Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. For a special signup bonus offer to our audience you’ll get the cash value of a stock worth up to $4,500 Canadian as soon as you add funds to your account.
So What if I Still Have Questions Related to Wealthsimple Ipo?
If this review still hasn’t given you the answers to all of your questions, and you’re still looking for more facts relating to Wealthsimple Ipo, go to the Wealthsimple website to get answers to all your questions.