What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital Financial, securities plus crypto trading web app that sets itself apart from the competition by charging absolutely no fees.
A Toronto, Ontario based online financial services company founded in Fall 2014 originally as a robo-advisor algorithmic automated trading platform called Wealthsimple Invest, it has changed considerably over the past eight years to also include Wealthsimple Trade, a no fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets consumers trade both individual stocks and ETFs without having to pay commissions. The exception is when you’re trading stocks and ETFs that are listed in USD. In this case, they do charge a currency conversion fee when buying and selling. However, behind us are the times of having to pay more than $7 per trade with online discount brokerages as was expected a few years past.
How Much in Funds Will I Need to Have in Order to Start Investing With Wealthsimple Trade?
Wealthsimple is special in that they allow Canadian investors to make a minimum deposit of just $1. The majority of alternative banks and discount brokerages have large initial deposit amounts of $1,000-5K. This makes it hard for the normal investor to get started. With Wealthsimple Trade, one doesn’t need to be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Have Registered Accounts?
They do. Wealthsimple Trade has available both CRA registered and non-CRA-registered accounts. You can select both RRSP and TFSA account types during the setup process.
So Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a convenient mobile app that is offered on iOS and Google Play. The app makes the enrollment process and the trading of stocks and ETFs very a breeze.
So Is Wealthsimple Trade Safe?
Of course. Wealthsimple Trade is safe. Wealthsimple boasts over 15 billion Canadian of Assets Under Management . This company has been expanding for more than 7 years and also now employs more than 600 Canadians. The main shareholder is the large publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fees online brokerage operating in Canada.
How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly straight forward to add funds to your new account. Just connect the app to a chequing or savings account with your Trade account, and fund your account in simply a couple of steps. Deposits from your bank to Wealthsimple typically take only a couple of days. Funds can the same way can be moved to a chequing or savings account by the exact same process.
Which Additional Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to Interac E-Transfers that allow you to quickly and simply transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for this tax season and submit your tax return online free. It’s pitched as simple, accurate and always free tax filing.
Wealthsimple Spend – A hybrid pre paid visa and savings account that allows one to get 1% cashback on your spending, and also earn 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 online courses on topics like saving, investing, crypto, mortgages and more.
Each of the mentioned features, including Wealthsimple Trade may be found inside the app and on their website with one login.
So How do I Get Started With Wealthsimple Trade?
Click here to signup for a new Wealthsimple Trade account. For a special signup bonus for our audience you’ll get the equivalent cash value of a stock worth up to $4,500 Canadian when you fund your account.
So What if I Still Have Additional Questions Concerning Wealthsimple Sign In?
If this blog post still hasn’t answered all of your questions, and you’re still searching for more information relating to Wealthsimple Sign In, go to the Wealthsimple site to get answers to each your questions.