What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian online investing, stock plus crypto trading web app that sets itself apart from other apps by charging no fees.
A leading Canadian fintech business founded in the Fall 2014 originally as a robo advisor trading platform named Wealthsimple Invest, it has evolved substantially over the past 8 years to also include Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets Canadian investors to trade single stocks and also ETFs without paying fees. The exception to this is when trading stocks and ETFs that are displayed in USD currency. In which case, they charge a small currency conversion fee both when buying and selling. However, gone are the days of having to pay $7-12 per trade with online discount brokerages as was normal only a couple years ago.
Exactly How Much Cash do I Need to Start on Wealthsimple Trade?
Wealthsimple is awesome such that they will allow Canadian investors to make a minimum deposit of just $1. Most traditional banks and discount brokerages have sizeable initial deposit amounts of 1k-5K. This makes it hard for the typical investor to start investing. With Wealthsimple Trade, you won’t have to be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Have Registered Accounts?
They do. Wealthsimple Trade has registered and non-CRA-registered account types. You can choose both RRSP and TFSA account types during the setup process.
So Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a easy to use mobile app that is available on iOS and Google Play. The mobile app makes the registration steps and also trading of stocks and ETFs very easy.
Is Wealthsimple Trade Safe?
For sure. Wealthsimple Trade is trustworthy. Wealthsimple boasts more than 15 billion Canadian of Assets Under Management (AUM). These folks have been in business for more than 7 years and also at this time employs more than 600 people. The main shareholder is the public Canadian corporation Power Corp of Canada. Weapthsimple Trade is the first no-fees digital discount brokerage operating in Canada.
So How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly straight forward to fund an account. Just connect to a chequing or savings account with your Trade account, then add money to your account in just a couple of steps. Deposits from your bank to Wealthsimple usually take only a couple of days. Funds can just as easily be moved back to a chequing or savings account using the same process.
Which Additional Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is equivalent to e-Transfers which allows anyone to quickly and efficiently transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for this tax season and submit your tax return online free. It’s described as simple, accurate and always totally free tax filing.
Wealthsimple Spend – A combination pre paid visa and savings account which lets one to earn 1% cashback on all your everyday spending, and also get a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that includes a variety of online courses on saving, investments, crypto, mortgages and much more.
All of the above features, including Wealthsimple Trade can be accessed on the mobile app and at their site with a single login.
So How do I Get Started Using Wealthsimple Trade?
Click here to create a new Wealthsimple Trade account. As an exclusive registration bonus to our audience you will get the cash value of a share valued at $25 up to $4,500 CAD once you fund your account.
What if I Still Have Questions About John Grant Wealthsimple?
If this article didn’t given you the answers to all of your questions, and you’re still browsing for further information about John Grant Wealthsimple, visit the Wealthsimple website to get answers to every one of your questions.