What is Wealthsimple?
Wealthsimple is an easy to use Canadian digital investing, securities and crypto trading app that distinguishes itself from similar apps by charging absolutely no fees.
A fintech company founded in Autumn twenty fourteen originally as a robo-advisor automated trading platform called Wealthsimple Invest, it has changed considerably over the past 8 years to also feature Wealthsimple Trade, a no fee discount brokerage app.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows Canadian consumers to trade stand alone stocks and also ETFs without needing to pay commissions. The exception to this is when you’re trading ETFs and stocks which are listed in USD currency. In which case, they do charge a small currency conversion fee when buying and selling. But, behind us are the days of paying Upwards of $7 for each trade with digital discount brokerages as was common just a few years past.
How Much Money do I Need in Order to Get Started on Wealthsimple Trade?
Wealthsimple is unique in that they will allow new customers to make a minimum deposit of only $1. The majority of alternative banks and discount brokerages have quite large minimum deposit amounts of 1k-5K. This makes it tough for the everyday new investor to start investing. With Wealthsimple Trade, you won’t need to already be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Offer TFSA Accounts?
It does. Wealthsimple Trade has CRA registered and non-registered accounts. One may choose both RRSP and TFSA account types in the setup process.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a easy to use mobile app offered on both IOS and also Google Play. The mobile app makes the registration process and trading of stocks and ETFs super simple.
Is Wealthsimple Trade Legit?
Of course. Wealthsimple Trade is safe. Wealthsimple boasts more than 15 billion Canadian in Assets Under Management . They have been expanding for more than 7 years and currently employs more than 600 folks. The main shareholder is the respected publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fees online discount brokerage operating in Canada.
But How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so easy to deposit to your new account. Just connect the app to a chequing or savings account to your Trade account, and then fund your account in just a few steps. Deposits from banks to Wealthsimple usually take only a few days. Funds can just as easily be withdrawn a chequing or savings accounts through the same process.
What Other Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to Interac E-Transfers which allows one to quickly and simply transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for tax season and submit your tax return online for free. It’s pitched as easy, accurate and always totally free income tax filing.
Wealthsimple Spend – A combination prepaid visa and savings account that allows you to earn 1% cashback on your purchases, and also get a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that offers a variety of different courses on different topics such as saving, investments, crypto, real estate and much more.
Each of the above products, including Wealthsimple Trade may be found inside the app and at their website with your Wealthsimple login.
So How do I Start Using Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. For a special signup bonus to our audience you will receive the equivalent cash value of a random 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 Questionnaire?
If this blog post hasn’t given you the answers to all of your questions, and you’re still browsing for additional specific answers about Wealthsimple Questionnaire, visit the Wealthsimple website to get answers to each your questions.