What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian online Financial, securities and crypto trading app that sets itself apart from the competition by charging no fees.
A leading Canadian online financial services company launched in the Fall twenty fourteen originally as a robo advisor algorithmic trading app called Wealthsimple Invest, it has changed substantially over the previous eight years to feature Wealthsimple Trade, a zero fees discount brokerage platform.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets Canadian consumers trade both single stocks and ETFs without paying commissions. The exception is when trading ETFs and stocks which are listed in USD currency. In which case, they do charge a small currency conversion fee both when buying and selling. However, gone are the times of having to pay more than $7 per trade with digital discount brokerages as was the case a few years ago.
How Much in Funds Will I Need to Have in Order to Start Investing on Wealthsimple Trade?
Wealthsimple is awesome in that they will allow Canadians to make a minimum deposit of only $1. Most alternative banks and discount brokerages have sizeable min deposit amounts of $1000-5k. This makes it tough for the typical new investor to start. With Wealthsimple Trade, you don’t have to already be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Have TFSA Accounts?
Yes. Wealthsimple Trade has available CRA registered and non-CRA-registered accounts. You are free to select both RRSP and TFSA account types in the setup phase.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a easy to use mobile app available to download on iOS and also Android. The app makes the registration phase and also the trading of stocks and ETFs very easy.
But Is Wealthsimple Trade Legit?
Yes. Wealthsimple Trade is secure. Wealthsimple has more than 15 billion Canadian in Assets Under Management (AUM). These folks have been doing business for more than 7 years and also now employs more than 600 folks. The main owner is the public Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fee online discount brokerage operating in Canada.
So How Can I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly easy to add money to a new account. Just 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 a few days. Funds can also be moved to a chequing or savings account using the exact same process.
Which Additional Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to Interac E-Transfers which allows you to quickly and efficiently send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for tax year and file your taxes online for free. It’s pitched as simple, accurate and always free tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings product that allows one to recieve 1% cashback on your everyday purchases, and also earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that offers a ton of different courses on topics like saving, investments, crypto, home buying and more.
Each of the mentioned products, including Wealthsimple Trade can be found on the app or at their site with one login.
So How Can I Start Using Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. As a special signup bonus offer for our readers you’ll get the equivalent cash value of a Canadian stock valued at $25 up to $4,500 CAD as soon as you deposit to your account.
So What if I Still Have Additional Questions Related to Wealthsimple Logo?
If this blog post still hasn’t given you the answers to each of your questions, and you’re looking for further specific facts relating to Wealthsimple Logo, go to the Wealthsimple site for answers to all your questions.