What is Wealthsimple?
Wealthsimple is an easy to use Canadian web based investing, stock and crypto trading app that sets itself apart from its competitors by charging absolutely no fees.
A fintech business founded in Fall of 2014 exclusively as a robo-advisor automated trading platform named Wealthsimple Invest, it has grown significantly over the past eight years to feature Wealthsimple Trade, a no fee discount brokerage app.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows Canadian consumers to trade both stand alone stocks and ETFs without having to pay any fees. The exception to this is when you’re trading ETFs and stocks that are listed in USD. In that case, they will charge a currency conversion fee both when buying and selling. But, behind us are the days of having to pay Upwards of $7 for each trade with digital discount brokerages as was normal just a few years ago.
How Much Cash do I Need in Order to Start Investing on Wealthsimple Trade?
Wealthsimple is unique such that they will allow Canadian investors to make a minimum deposit of just $1. Many traditional banks and brokerages have quite large initial deposit amounts of $1000-$5,000. This makes it hard for the typical investor to start. With Wealthsimple Trade, you won’t need to be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Offer RRSP Accounts?
It does. Wealthsimple Trade has available both CRA registered and non-registered account types. One may choose between both RRSP and TFSA account types during the setup phase.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a convenient mobile app offered on IOS and also Android. The mobile app makes the registration steps and also the trading of stocks and ETFs incredibly easy.
Is Wealthsimple Trade Legit?
Most definitely. Wealthsimple Trade is secure. Wealthsimple has more than 15 billion Canadian in Assets Under Management . These folks have been in business for more than 7 years and also now employs more than 600 people. The primary owner is the public Canadian corporation Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital discount brokerage operating in Canada.
But How Do I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite easy to add money to your new account. Simply connect the app to a chequing or savings account to your Trade account, and then add money to your account in only a couple of clicks. Deposits from financial institutions to Wealthsimple usually take just a couple of days. Funds can the same way can be moved back to your chequing or savings account using the same steps.
Which Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An alternative to Interac e-Transfers which allows one to quickly and simply send cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for tax year and file your tax return online for free. It’s described as simple, accurate and always free tax filing.
Wealthsimple Spend – A hybrid prepaid visa and savings account that allows one to recieve 1% cashback on all your everyday purchases, and also earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform which includes a bunch of online courses on different topics such as saving, investing, crypto, mortgages and more.
Each of the above products, including Wealthsimple Trade may be found inside the mobile app and at the website with your Wealthsimple login.
But How do I Start Using Wealthsimple Trade?
Click here to create a new Wealthsimple Trade account. As an exclusive signup bonus offer to our audience you’ll get the cash value of a share worth $25 up to $4,500 CAD when you make an initial deposit to your account.
So What if I Still Have Questions Related to Jobs At Wealthsimple?
If this article still hasn’t answered each of your questions, and you’re still looking for more specific facts relating to Jobs At Wealthsimple, go to the Wealthsimple website to get answers to all your questions.