What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital investing, securities plus crypto trading app that sets itself apart from the competition by charging absolutely no fees.
A Toronto, Ontario based online financial services business founded in the Fall twenty fourteen originally as a robo advisor algorithmic automated trading platform called Wealthsimple Invest, it has evolved considerably over the past eight years to feature Wealthsimple Trade, a no fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets investors trade both single stocks and ETFs without needing to pay commissions. The exception is when trading stocks and ETFs which are listed in USD currency. In that case, they do charge a small currency conversion fee when buying and selling. But, past us are the days of paying Upwards of $7 for each trade with digital discount brokerages as was the norm a couple years ago.
How Much Money do I Need in Order to Start With Wealthsimple Trade?
Wealthsimple is unique in that they allow Canadian investors to make a minimum deposit of only $1. Most traditional banks and brokerages have large min deposit amounts of $1000-5K. This makes it tough for the typical investor to start. With Wealthsimple Trade, you won’t have to already be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Offer TFSA Accounts?
Of course. Wealthsimple Trade has available both CRA registered and non-CRA-registered account types. One can select between both RRSP and TFSA accounts in the setup wizard.
But Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a convenient mobile app that is available to download on Apple and Google Play. The smartphone app makes the signup process and also the trading of stocks and ETFs truly simple.
Is Wealthsimple Trade Trustworthy?
For sure. Wealthsimple Trade is safe. Wealthsimple boasts over 15 billion CAD in Assets Under Management (AUM). These folks have been operating for more than 7 years and at this time employs over 600 Canadians. The main shareholder is the large publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fees online discount brokerage operating in Canada.
So How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so straight forward to deposit to your account. Simply connect the app to a chequing or savings account to your Trade account, and add funds to your account in only a few steps. Deposits from banks to Wealthsimple usually take only a few days. Funds can just as easily be moved to a chequing or savings accounts through the exact same process.
What Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to E-transfers which allow one to quickly and simply transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for this tax season and submit your taxes online for free. It’s pitched as simple, accurate and always free tax filing.
Wealthsimple Spend – A combination prepaid visa and savings product that allows one to recieve 1% cashback on all your everyday spending, and also get a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that includes a variety of different online courses on saving, investing, crypto, mortgages and more.
Each of the listed products, along with Wealthsimple Trade may be accessed on the app or at their website with your Wealthsimple login.
How Can I Begin With Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. As an exclusive registration bonus offer to our audience you will get the equivalent cash value of a random Canadian stock valued at up to $4,500 CAD once you add funds to your account.
So What if I Still Have Questions Related to Tfsa Wealthsimple?
If this article still hasn’t answered all of your questions, and you’re browsing for additional specific information about Tfsa Wealthsimple, check out the Wealthsimple website to get answers to all your questions.