What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital Financial, stocks plus crypto trading platform that sets itself apart from the competition by charging absolutely no fees.
A fintech business founded in the Autumn of twenty fourteen exclusively as a robo advisor algorithmic automated trading app named Wealthsimple Invest, it has grown significantly over the past 8 years to also feature Wealthsimple Trade, a no fees discount brokerage platform.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets Canadian investors to trade both single stocks and ETFs without having to pay fees. The exception to this is when you’re trading securities which are denominated in USD. In which case, they charge a nominal currency conversion fee when buying and selling. But, behind us are the days of paying $7-12 for each trade with digital discount brokerages as was the case just a few years ago.
How Much Money do I Need to Begin Investing With Wealthsimple Trade?
Wealthsimple is cool in that they allow Canadians to make a minimum deposit of just $1. Most traditional banks and discount brokerages have large initial deposit amounts of 1K-$5,000. This makes it impossible for the common investor to start investing. With Wealthsimple Trade, you won’t have to already be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Offer Registered Accounts?
Of course. Wealthsimple Trade has both CRA registered and non-CRA-registered account types. You are free to select both RRSP and TFSA accounts in the setup phase.
So Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a convenient mobile app offered on Apple and Android. The app makes the registration process and also the trading of stocks and ETFs incredibly easy.
But Is Wealthsimple Trade Secure?
Of course. Wealthsimple Trade is secure. Wealthsimple has over 15 billion Canadian in Assets Under Management . This company has been expanding for more than 7 years and also right now employs about 600 people. The controlling shareholder is the respected publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fee online brokerage to operate in Canada.
So How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite simple to fund your new account. Simply connect a chequing or savings account to your Trade account, and then add funds to your account in simply a couple of clicks. Deposits from your bank to Wealthsimple normally take a couple of days. Funds can also be moved back to your chequing or savings accounts using the same process.
What Other Features and Products Are Available?
Wealthsimple Cash – An equivalent to Interac E-transfers that allows you to quickly and easily transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for this tax year and submit your tax return online for free. It’s described as easy, accurate and always free income tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings product which allows you to recieve 1% cashback on your purchases, as well as earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that offers a bunch of online courses on different topics such as saving, investments, crypto, home buying and much more.
Each of the above products, along with Wealthsimple Trade may be found inside the app and on their site with a single login.
But How Can I Start Using Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. As a special signup bonus to our readers you will get the equivalent cash value of a random stock valued at $25 up to $4,500 CAD as soon as you add funds to your account.
So What if I Still Have Additional Questions Related to Limit Order Wealthsimple?
If this blog post didn’t given you the answers to each of your questions, and you’re still browsing for more specific facts about Limit Order Wealthsimple, go to the Wealthsimple website to find answers to every one of your questions.