What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian digital Financial, stock and crypto trading platform that sets itself apart from similar apps by charging no fees.
A fintech business founded in the Autumn twenty fourteen originally as a robo advisor trading platform called Wealthsimple Invest, it has evolved significantly over the past eight years to include Wealthsimple Trade, a no fee discount brokerage service.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets consumers trade both individual stocks and also ETFs without paying any commissions. The exception is when trading ETFs and stocks which are displayed in US Dollars. In which case, they will charge a currency conversion fee when buying and selling. But, past us are the days of paying more than $7 for each trade with online discount brokerages as was the case a few years past.
How Much Cash Will I Need to Have in Order to Begin Investing With Wealthsimple Trade?
Wealthsimple is cool such that they allow Canadians to make a minimum deposit of just $1. Most alternative banks and brokerages have large initial deposit amounts of 1K-5K. This makes it impossible for the every day investor to start. With Wealthsimple Trade, you don’t have to be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Have TFSA Accounts?
Yes. Wealthsimple Trade offers both CRA registered and non-CRA-registered account types. You are free to choose both RRSP and TFSA account types during the setup wizard.
But Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a easy to use mobile app available to download on Apple and Google Play. The mobile app makes the signup steps and trading of stocks and ETFs simple.
But Is Wealthsimple Trade Secure?
Definitely. Wealthsimple Trade is secure. Wealthsimple boasts more than 15 billion Canadian in Assets Under Management . They have been expanding for more than 7 years and at this time employs more than 600 Canadians. The main owner is the admired public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fees online brokerage operating in Canada.
How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so straight forward to add money to your account. Simply connect the app to a chequing or savings account to your Trade account, and then fund your account in simply a couple of clicks. Deposits from your bank to Wealthsimple typically take only a couple of days. Funds can the same way can be withdrawn your chequing or savings accounts through the exact same process.
What Additional Benefits and Products Are Available?
Wealthsimple Cash – An alternative to Interac E-Transfers that allows one to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for this tax year and submit your tax return online for free. It’s described to be simple, accurate and always totally free income tax filing.
Wealthsimple Spend – A combination prepaid debit card and savings account which allows you to recieve 1% cashback on your spending, and also earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that offers a variety of courses on saving, investing, crypto, mortgages and much more.
All of the above features, including Wealthsimple Trade may be accessed on the app and at the site with one login.
So How Can I Get Started Using Wealthsimple Trade?
Click here to create a Wealthsimple Trade account. For an exclusive registration bonus to our readers you will get the cash value of a random Canadian stock valued at up to $4,500 Canadian when you deposit to your account.
But What if I Still Have Questions Concerning Limit Buy Wealthsimple?
If this article hasn’t answered each of your questions, and you’re searching for further answers about Limit Buy Wealthsimple, visit the Wealthsimple website for answers to all your questions.