What is Wealthsimple?
Wealthsimple is an easy to use Canadian online Financial, stock plus crypto trading platform that differentiates itself from the competition by charging no fees.
A leading Canadian fintech company launched in Fall of 2014 exclusively as a robo-advisor trading platform called Wealthsimple Invest, it has changed significantly over the last eight years to feature Wealthsimple Trade, a no fees discount brokerage app.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade allows Canadian investors trade stand alone stocks and ETFs without needing to pay fees. The exception to this is when you’re trading stocks and ETFs that are listed in USD currency. In this case, they charge a small currency conversion fee both when buying and selling. However, gone are the times of having to pay more than $7 for each trade with discount brokerages as was expected a few years past.
How Much Money Will I Need to Start on Wealthsimple Trade?
Wealthsimple is awesome such that they will allow new customers to make a minimum deposit of just $1. Most traditional banks and brokerages have large initial deposit amounts of 1k-5k. This makes it hard for the typical new investor to start. With Wealthsimple Trade, one doesn’t have to be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Offer Registered Accounts?
Of course. Wealthsimple Trade has available both CRA registered and non-registered account types. You may select between both RRSP and TFSA account types during the setup wizard.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a well designed mobile app offered on both Apple and also Google Play. The mobile app makes the signup phase and also the trading of stocks and ETFs truly a breeze.
Is Wealthsimple Trade Safe?
Yes. Wealthsimple Trade is trustworthy. Wealthsimple boasts over 15 billion Canadian of Assets Under Management . These folks have been in business for more than 7 years and also employs more than 600 folks. The primary owner is the respected public Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fees online discount brokerage operating in Canada.
How Do I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very simple to fund your account. Simply connect a chequing or savings account to your Trade account, and then fund your account in just a couple of clicks. Deposits from financial institutions to Wealthsimple normally take only a few days. Funds can the same way can be moved back to your chequing or savings accounts using the same method.
What Other Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An equivalent to E-Transfers which allows one to quickly and simply transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for tax season and submit your tax return online free. It’s advertised to be easy, accurate and always free income tax filing.
Wealthsimple Spend – A combination pre paid visa and savings product that lets you to get 1% cashback on your everyday spending, as well as get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that includes a bunch of different online courses on topics like saving, investing, crypto, home buying and more.
Every one of the above features, along with Wealthsimple Trade can be found in the mobile app or at the website with a single login.
How Can I Get Started Using Wealthsimple Trade?
Click here to create a new Wealthsimple Trade account. As an exclusive signup bonus for our readers you will receive the cash value of a Canadian stock valued at $25 up to $4,500 Canadian as soon as you add funds to your account.
But What if I Still Have Additional Questions About S&p 500 Wealthsimple?
If this article still hasn’t answered each of your questions, and you’re still looking for more specific info about S&p 500 Wealthsimple, visit the Wealthsimple site to find answers to each your questions.