What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online investing, stock and crypto trading app that distinguishes itself from its competitors by charging no fees.
A Toronto, Ontario based fintech company founded in Fall 2014 exclusively as a robo advisor trading app named Wealthsimple Invest, it has improved considerably over the previous eight years to include Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows investors trade single stocks and ETFs without needing to pay any commissions. The exception is when trading ETFs and stocks which are listed in US Dollars. In which case, they do charge a currency conversion fee when buying and selling. But, behind us are the times of having to pay more than $7 per each trade with online discount brokerages as was the case a couple years past.
Exactly How Much Cash Will I Need to Have to Begin Investing With Wealthsimple Trade?
Wealthsimple is unique in that they will allow Canadian investors to make a minimum deposit of just $1. Most traditional banks and discount brokerages have large minimum deposit amounts of 1k-$5000. This makes it hard for the typical new investor to get started. With Wealthsimple Trade, you don’t have to be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Offer Registered Accounts?
It does. Wealthsimple Trade offers CRA registered and non-registered accounts. One are free to choose both RRSP and TFSA account types in the setup process.
So Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a well designed mobile app available to download on Apple and also Android. The app makes the registration phase and trading of stocks and ETFs incredibly painless.
But Is Wealthsimple Trade Trustworthy?
For sure. Wealthsimple Trade is secure. Wealthsimple boasts more than 15 billion Canadian in Assets Under Management (AUM). They have been in business for more than 7 years and also currently employs more than 600 people. The primary owner is the public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital brokerage to operate in Canada.
How Can I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly easy to fund a new account. Simply connect a chequing or savings account with your Trade account, and add funds to your account in simply a couple of clicks. Deposits from banks to Wealthsimple usually take only a couple of days. Funds can the same way can be moved back to a chequing or savings accounts by the same process.
Which Other Features and Products Are Available?
Wealthsimple Cash – This is alternative to e-Transfers that allow you to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for this tax year and file your taxes online free. It’s pitched as easy, accurate and always free tax return filing.
Wealthsimple Spend – A combination prepaid visa and savings product which allows one to get 1% cashback on your spending, and also earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which includes a variety of online courses on different topics such as saving, investments, crypto, home buying and more.
All of the above features, along with Wealthsimple Trade can be accessed inside the app or at the site with one login.
How Should I Get Started Using Wealthsimple Trade?
Click here to signup for a new Wealthsimple Trade account. For an exclusive registration bonus for our audience you will receive the cash value of a stock worth $25 up to $4,500 CAD when you deposit to your account.
So What if I Still Have Additional Questions About Wealthsimple Joining Bonus?
If this blog post still hasn’t given you the answers to each of your questions, and you’re still searching for further info about Wealthsimple Joining Bonus, check out the Wealthsimple website to find answers to each your questions.