What is Wealthsimple?
Wealthsimple is an easy to use Canadian online investing, securities plus crypto trading app that differentiates itself from other apps by charging no fees.
A Toronto, Ontario based online financial services company founded in the Fall of twenty fourteen originally as a robo advisor trading app named Wealthsimple Invest, it has grown significantly over the last 8 years to include Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets Canadian investors trade stand alone stocks and ETFs without needing to pay fees. The exception is when trading ETFs and stocks that are listed in USD. In which case, they will charge a currency conversion fee when buying and selling. But, behind us are the days of having to pay more than $7 for each trade with online discount brokerages as was the norm a couple years past.
Exactly How Much in Funds do I Need to Have to Begin Investing With Wealthsimple Trade?
Wealthsimple is awesome such that they allow Canadians to make a minimum deposit of just $1. The majority of alternative banks and discount brokerages have sizeable min deposit amounts of $1,000-$5000. This makes it difficult for the normal new investor to get started. With Wealthsimple Trade, you won’t need to already be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Offer Registered Accounts?
Of course. Wealthsimple Trade has available registered and non-CRA-registered accounts. You may select both RRSP and TFSA account types during the setup wizard.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a well designed mobile app available on both IOS and also Google Play. The smartphone app makes the registration process and also the trading of stocks and ETFs super easy.
Is Wealthsimple Trade Safe?
Yes. Wealthsimple Trade is safe. Wealthsimple reports more than 15 billion CAD of Assets Under Management . they’ve been operating for more than 7 years and also right now employs about 600 people. The controlling shareholder is the admired publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade was the first no-fee digital discount brokerage to operate in Canada.
So How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite simple to add money to an account. Simply connect the app to a chequing or savings account with your Trade account, then add funds to your account in just a couple of clicks. Deposits from banks to Wealthsimple typically take a couple of days. Funds can also be moved back to your chequing or savings accounts by using the same method.
Which Additional Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An equivalent to E-transfers which allows you to quickly and simply send 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 for free. It’s pitched as simple, accurate and always totally free income tax filing.
Wealthsimple Spend – A combination prepaid visa and savings account which lets you to earn 1% cashback on your spending, as well as earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform which offers a bunch of different courses on topics like saving, investing, crypto, home buying and much more.
All of the listed products, including Wealthsimple Trade can be found within the mobile app or on the site with your Wealthsimple login.
So How Should I Begin With Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. As an exclusive registration bonus for our readers you will get the cash value of a stock valued at $25 up to $4,500 CAD as soon as you add funds to your account.
So What if I Still Have Questions Concerning Wealthsimple Keeps Asking For Code?
If this blog post hasn’t given you the answers to each of your questions, and you’re browsing for more info about Wealthsimple Keeps Asking For Code, check out the Wealthsimple site for answers to all your questions.