What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based Financial, stocks plus crypto trading app that sets itself apart from its competitors by charging no fees.
A fintech company launched in the Autumn 2014 originally as a robo advisor algorithmic trading platform named Wealthsimple Invest, it has improved significantly over the last eight years to include Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets consumers to trade both single stocks and ETFs without having to pay commissions. The exception is when you’re trading stocks and ETFs that are listed in USD. In which case, they charge a currency conversion fee both when buying and selling. But, gone are the times of having to pay $7-12 for each trade with digital discount brokerages as was common only a few years past.
Exactly How Much Cash do I Need to Begin Investing With Wealthsimple Trade?
Wealthsimple is cool such that they allow Canadians to make a minimum deposit of just $1. Many traditional banks and discount brokerages have quite large min deposit amounts of 1K-$5,000. This makes it tough for the typical new investor to get started. With Wealthsimple Trade, you won’t have to already be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Offer Registered Accounts?
Yes. Wealthsimple Trade has available both CRA registered and non-registered account types. One can select between both RRSP and TFSA account types in the setup phase.
But Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a easy to use mobile app offered to download on Apple and Android. The app makes the signup phase and trading of stocks and ETFs truly easy.
So Is Wealthsimple Trade Safe?
Most definitely. Wealthsimple Trade is legit. Wealthsimple has in excess of 15 billion CAD of Assets Under Management . They have been expanding for more than 7 years and also currently employs more than 600 people. The controlling shareholder is the respected publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fee online brokerage to operate in Canada.
But How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very easy to deposit to your new account. Simply connect the app to a chequing or savings account with your Trade account, and then add funds to your account in simply a few clicks. Deposits from your bank to Wealthsimple typically take only a couple of days. Funds can also be moved to your chequing or savings account using the same process.
What Other Features and Products Are Available?
Wealthsimple Cash – This is equivalent to Interac e-transfers which allows you to quickly and efficiently send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for tax year and submit your tax return online free. It’s advertised to be easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings account which allows one to earn 1% cashback on all your purchases, and also get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which offers a ton of different online courses on saving, investments, crypto, home buying and more.
All of the listed products, along with Wealthsimple Trade can be accessed in the app and on their site with your Wealthsimple login.
But How Can I Begin With Wealthsimple Trade?
Click here to signup for a Wealthsimple Trade account. For an exclusive signup bonus for our audience you will get the equivalent cash value of a random share worth $25 up to $4,500 Canadian when you deposit to your account.
What if I Still Have Questions Related to Questrade Vs Wealthsimple Trade?
If this blog post didn’t answered all of your questions, and you’re searching for further specific info about Questrade Vs Wealthsimple Trade, go to the Wealthsimple site for answers to each your questions.