What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital Financial, securities and crypto trading app that sets itself apart from similar apps by charging absolutely no fees.
A leading Canadian online financial services business founded in Autumn 2014 exclusively as a robo-advisor trading platform named Wealthsimple Invest, it has improved significantly over the previous eight years to include Wealthsimple Trade, a zero fees discount brokerage app.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows consumers to trade single stocks and ETFs without paying any commissions. The exception to this is when you’re trading securities which are denominated in USD. In that case, they will charge a nominal currency conversion fee when buying and selling. But, gone are the days of having to pay $7-12 per trade with digital discount brokerages as was the norm a couple years ago.
How Much in Funds Will I Need to Have to Get Started on Wealthsimple Trade?
Wealthsimple is awesome in that they will allow Canadians to make a minimum deposit of only $1. Many alternative banks and discount brokerages have large initial deposit amounts of 1K-$5,000. This makes it impossible for the normal investor to get started. With Wealthsimple Trade, one doesn’t have to be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Have Registered Accounts?
They do. Wealthsimple Trade has available registered and non-registered account types. One are free to select between both RRSP and TFSA accounts during the setup process.
But Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a modern mobile app that is available to download on both IOS and Android. The app makes the registration process and also the trading of stocks and ETFs very easy.
Is Wealthsimple Trade Safe?
For sure. Wealthsimple Trade is secure. Wealthsimple has over 15 billion Canadian in Assets Under Management (AUM). they’ve been expanding for more than 7 years and at this time employs roughly 600 folks. The main owner is the large publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fees online discount brokerage operating in Canada.
How Does One Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it easy to deposit to your new account. Simply connect a chequing or savings account to your Trade account, then add funds to your account in only a couple of clicks. Deposits from financial institutions to Wealthsimple normally take just a couple of days. Funds can the same way can be moved to your chequing or savings accounts by using the same process.
What Additional Features and Products Are Available?
Wealthsimple Cash – An equivalent to e-transfers which allow anyone to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for tax year and submit your taxes online free. It’s pitched as simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination pre paid debit card and savings product which allows you to get 1% cashback on all your purchases, as well as earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform that offers a bunch of different online courses on topics like saving, investing, crypto, home buying and much more.
Every one of the listed products, including Wealthsimple Trade may be found in the app or from their site with your Wealthsimple login.
How Can I Get Started With Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. For a special registration bonus offer for our readers you will get the equivalent cash value of a random Canadian stock valued at up to $4,500 Canadian as soon as you make an initial deposit to your account.
So What if I Still Have Additional Questions Concerning Wealthsimple Quebec?
If this blog post hasn’t answered each of your questions, and you’re still browsing for more specific info about Wealthsimple Quebec, check out the Wealthsimple website for answers to every one of your questions.