What is Wealthsimple?
Wealthsimple is a simple to use Canadian web based investing, stocks plus crypto trading app that distinguishes itself from similar apps by charging absolutely no fees.
A leading Canadian online financial services business launched in Fall 2014 exclusively as a robo advisor algorithmic automated trading app named Wealthsimple Invest, it has changed significantly over the past 8 years to feature Wealthsimple Trade, a no fee discount brokerage app.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets Canadian consumers trade single stocks and ETFs without having to pay any commissions. The exception to this is when you’re trading stocks that are displayed in US Dollars. In that case, they charge a small currency conversion fee when buying and selling. But, behind us are the days of having to pay Upwards of $7 per each trade with digital discount brokerages as was the case a couple years ago.
Exactly How Much Cash Will I Need to Begin Investing With Wealthsimple Trade?
Wealthsimple is special in that they will allow Canadians to make a minimum deposit of only $1. The majority of alternative banks and discount brokerages have large minimum deposit amounts of $1,000-$5,000. This makes it difficult for the common new investor to start. With Wealthsimple Trade, one doesn’t have to already be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Have TFSA Accounts?
It does. Wealthsimple Trade has available CRA registered and non-CRA-registered account types. You may select between both RRSP and TFSA account types during the setup process.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a easy to use mobile app that is available on Apple and also Google Play. The smartphone app makes the signup phase and the trading of stocks and ETFs super painless.
But Is Wealthsimple Trade Safe?
Definitely. Wealthsimple Trade is secure. Wealthsimple reports more than 15 billion CAD of Assets Under Management (AUM). They have been expanding for more than 7 years and also right now employs roughly 600 folks. The primary shareholder is the publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fees online brokerage to operate in Canada.
But How Can I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very easy to fund a new account. Simply connect the app to a chequing or savings account with your Trade account, then add funds to your account in only a couple of steps. Deposits from banks to Wealthsimple usually take a couple of days. Funds can just as easily be moved back to a chequing or savings accounts using the exact same steps.
What Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to E-transfers which allow anyone to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for tax year and file your tax return online free. It’s pitched to be easy, accurate and always totally free tax filing.
Wealthsimple Spend – A combination pre paid visa and savings account that lets one to recieve 1% cashback on your everyday spending, and also earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform which offers a variety of different courses on topics like saving, investing, crypto, mortgages and much more.
Every one of the mentioned features, along with Wealthsimple Trade can be accessed in the app and on their site with one login.
So How Can I Get Started Using Wealthsimple Trade?
Click here to create a Wealthsimple Trade account. As an exclusive registration bonus for our audience you will receive the cash value of a share valued at up to $4,500 CAD as soon as you make an initial deposit to your account.
So What if I Still Have Additional Questions Concerning Wealthsimple Leadership Team?
If this blog post still hasn’t answered all of your questions, and you’re looking for more specific answers relating to Wealthsimple Leadership Team, go to the Wealthsimple website for answers to every one of your questions.