What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based investing, stocks and crypto trading web app that differentiates itself from its competitors by charging absolutely no fees.
A leading Canadian fintech company launched in the Autumn 2014 originally as a robo advisor algorithmic trading app called Wealthsimple Invest, it has grown substantially over the past eight years to also include Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets Canadian consumers to trade both stand alone stocks and ETFs without needing to pay fees. The exception to this is when trading stocks and ETFs which are denominated in USD. In that case, they do charge a currency conversion fee when buying and selling. But, past us are the times of paying more than $7 per trade with online discount brokerages as was the norm just a few years ago.
Exactly How Much Money Will I Need in Order to Start on Wealthsimple Trade?
Wealthsimple is special such that they will allow new customers to make a minimum deposit of just $1. Many alternative banks and discount brokerages have large min deposit amounts of $1000-$5,000. This makes it impossible for the normal investor to get started. With Wealthsimple Trade, one doesn’t have to already be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Have TFSA Accounts?
Yes. Wealthsimple Trade has available both registered and non-registered accounts. One are free to choose both RRSP and TFSA accounts during the setup wizard.
But Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a well designed mobile app available on iOS and also Android. The mobile app makes the signup phase and also trading of stocks and ETFs super a breeze.
Is Wealthsimple Trade Legit?
For sure. Wealthsimple Trade is trustworthy. Wealthsimple boasts over 15 billion Canadian of Assets Under Management (AUM). This company has been operating for more than 7 years and also now employs about 600 folks. The primary shareholder is the admired publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital discount brokerage to operate in Canada.
How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly straight forward to add money to your account. Just connect to a chequing or savings account to your Trade account, then add money to your account in just a couple of steps. Deposits from financial institutions to Wealthsimple normally take only a few days. Funds can the same way can be withdrawn your chequing or savings account by using the same steps.
Which Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is equivalent to Interac e-transfers that allow you to quickly and efficiently transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for tax year and file your taxes online free. It’s described as simple, accurate and always free tax filing.
Wealthsimple Spend – A combination prepaid debit card and savings product which lets you to recieve 1% cashback on all your everyday spending, as well as get a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that includes a ton of courses on saving, investing, crypto, real estate and more.
Each of the above features, including Wealthsimple Trade may be found in the app and at their website with one login.
But How Can I Begin Using Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. As a special signup bonus to our audience you will receive the equivalent cash value of a Canadian stock valued at up to $4,500 Canadian once you fund your account.
What if I Still Have Questions About Wealthsimple Joint Savings Account?
If this blog post still hasn’t answered all of your questions, and you’re looking for further info relating to Wealthsimple Joint Savings Account, go to the Wealthsimple site for answers to every one of your questions.