What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based Financial, securities plus crypto trading web app that distinguishes itself from other apps by charging no fees.
A fintech company founded in Autumn 2014 exclusively as a robo-advisor automated trading app called Wealthsimple Invest, it has grown significantly over the last 8 years to also feature Wealthsimple Trade, a zero fee discount brokerage app.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows consumers to trade stand alone stocks and ETFs without having to pay fees. The exception is when you’re trading securities that are displayed in US Dollars. In which case, they charge a nominal currency conversion fee when buying and selling. But, gone are the times of having to pay $7-12 per trade with online discount brokerages as was expected a couple years ago.
How Much Cash do I Need in Order to Begin Investing With Wealthsimple Trade?
Wealthsimple is awesome in that they will allow investors to make a minimum deposit of only $1. Many traditional banks and brokerages have large initial deposit amounts of $1,000-5k. This makes it tough for the common investor to start. With Wealthsimple Trade, you won’t need to already be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Offer Registered Accounts?
They do. Wealthsimple Trade offers both registered and non-registered accounts. One are free to choose both RRSP and TFSA account types in the setup phase.
But Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a modern mobile app offered on both iOS and Google Play. The smartphone app makes the signup phase and also trading of stocks and ETFs super simple.
So Is Wealthsimple Trade Legit?
Most definitely. Wealthsimple Trade is legit. Wealthsimple has more than 15 billion Canadian in Assets Under Management (AUM). they’ve been expanding for more than 7 years and also currently employs roughly 600 Canadians. The controlling owner is the large publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fees digital discount brokerage operating in Canada.
How Does One Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very easy to add funds to a new account. Simply connect the app to a chequing or savings account to your Trade account, then add funds to your account in just a couple of steps. Deposits from financial institutions to Wealthsimple normally take a couple of days. Funds can also be moved back to your chequing or savings account by using the same method.
What Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to e-transfers that allow anyone to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for tax season and file your taxes online for free. It’s described to be simple, accurate and always free tax filing.
Wealthsimple Spend – A combination pre paid debit card and savings product that lets one to earn 1% cashback on all your purchases, as well as earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform that includes a variety of different online courses on topics like saving, investments, crypto, mortgages and more.
All of the above features, along with Wealthsimple Trade may be found on the mobile app and at the site with a single login.
How do I Start With Wealthsimple Trade?
Click here to setup a new Wealthsimple Trade account. For a special signup bonus to our audience you will receive the cash value of a random share valued at up to $4,500 Canadian as soon as you add funds to your account.
So What if I Still Have Additional Questions Related to Wealthsimple Referral?
If this review didn’t answered each of your questions, and you’re looking for further specific answers about Wealthsimple Referral, check out the Wealthsimple site for answers to every one of your questions.