Jessica Oliver Wealthsimple

What Exactly is Wealthsimple?

Wealthsimple is a simple to use Canadian digital investing, stocks and crypto trading platform that sets itself apart from the competition by charging no fees. 

A fintech business founded in the Fall twenty fourteen originally as a robo advisor automated trading app named Wealthsimple Invest, it has improved significantly over the last eight years to also feature Wealthsimple Trade, a zero fee discount brokerage app.

Does Wealthsimple Trade Charge Fees?

Wealthsimple Trade lets investors to trade single stocks and ETFs without needing to pay any fees. The exception is when you’re trading stocks and ETFs which are denominated in USD. In this case, they will charge a currency conversion fee when buying and selling. But, gone are the days of having to pay Upwards of $7 for each trade with digital discount brokerages as was common only a couple years past.

Exactly How Much in Funds Will I Need to Have to Start Investing on Wealthsimple Trade?

Wealthsimple is cool in that they allow new customers to make a minimum deposit of just $1. The majority of traditional banks and brokerages have quite large initial deposit amounts of $1000-$5,000. This makes it hard for the typical investor to start investing. With Wealthsimple Trade, you don’t have to be wealthy to begin trading stocks and ETFs.

So Does Wealthsimple Trade Offer TFSA Accounts?

They do. Wealthsimple Trade offers CRA registered and non-registered account types. You can choose both RRSP and TFSA accounts in the setup phase. 

So Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade offers a modern mobile app that is available to download on both iOS and Android. The smartphone app makes the signup steps and the trading of stocks and ETFs simple.

So Is Wealthsimple Trade Safe?

Definitely. Wealthsimple Trade is secure. Wealthsimple has more than 15 billion Canadian in Assets Under Management (AUM). they’ve been doing business for more than 7 years and now employs roughly 600 Canadians. The majority owner is the large public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fees online discount brokerage to operate in Canada.

So How Do I Add Money to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it so straight forward to fund an account. Just connect the app to a chequing or savings account with your Trade account, and then fund your account in only a couple of clicks. Deposits from banks to Wealthsimple typically take a few days. Funds can just as easily be moved back to your chequing or savings account by using the exact same method.

What Additional Benefits and Products Are Available?

Wealthsimple Cash – An alternative to E-Transfers which allow anyone to quickly and easily transfer money to friends and family in Canada.

Wealthsimple Tax – Everything you’ll require to prepare for tax year and submit your taxes online for free. It’s advertised to be easy, accurate and always free tax filing.

Wealthsimple Spend – A hybrid pre paid debit card and savings account which lets one to earn 1% cashback on your everyday spending, and also get a competitive 1.5% interest on savings.

Personal Finance 101 – Wealthsimple’s free personal finance education platform that offers a bunch of online courses on topics like saving, investments, crypto, real estate and much more. 

Every one of the above products, including Wealthsimple Trade can be found in the app and at their website with your Wealthsimple login.

So How Should I Start With Wealthsimple Trade?

Click here to setup a Wealthsimple Trade account. For a special registration bonus offer to our readers you’ll get the cash value of a stock worth $25 up to $4,500 Canadian as soon as you fund your account.

But What if I Still Have Questions Related to Jessica Oliver Wealthsimple?

If this article still hasn’t answered all of your questions, and you’re looking for more answers about Jessica Oliver Wealthsimple, check out the Wealthsimple site to get answers to all your questions.