What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian online Financial, securities and crypto trading app that differentiates itself from the competition by charging absolutely no fees.
A fintech business launched in Autumn of twenty fourteen originally as a robo-advisor algorithmic trading app called Wealthsimple Invest, it has changed considerably over the previous 8 years to also include Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows Canadian investors to trade both individual stocks and ETFs without needing to pay commissions. The exception to this is when you’re trading ETFs and stocks that are displayed in US Dollars. In that case, they will charge a small currency conversion fee both when buying and selling. However, gone are the times of paying $7-12 for each trade with digital discount brokerages as was expected a few years ago.
How Much Money do I Need to Begin Investing on Wealthsimple Trade?
Wealthsimple is special such that they will allow Canadians to make a minimum deposit of only $1. Many traditional banks and discount brokerages have large initial deposit amounts of 1k-5k. This makes it hard for the everyday new investor to start investing. With Wealthsimple Trade, one doesn’t need to already be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Offer TFSA Accounts?
It does. Wealthsimple Trade has CRA registered and non-CRA-registered account types. One are able to select both RRSP and TFSA accounts during the setup phase.
So Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a well designed mobile app that is available to download on both IOS and Android. The smartphone app makes the signup process and trading of stocks and ETFs incredibly painless.
So Is Wealthsimple Trade Secure?
Of course. Wealthsimple Trade is trustworthy. Wealthsimple reports over 15 billion CAD in Assets Under Management (AUM). they’ve been operating for more than 7 years and right now employs more than 600 people. The main shareholder is the respected public Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital discount brokerage to operate in Canada.
But How Does One Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly straight forward to fund your account. Just connect a chequing or savings account to your Trade account, then fund your account in just a couple of clicks. Deposits from banks to Wealthsimple usually take just a few days. Funds can the same way can be moved back to your chequing or savings account with the exact same process.
What Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to Interac e-transfers which allow anyone to quickly and easily send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for tax season and submit your taxes online free. It’s advertised to be simple, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings account which allows one to get 1% cashback on your spending, as well as earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which offers a variety of different courses on saving, investing, crypto, mortgages and much more.
Each of the listed features, including Wealthsimple Trade may be found in the mobile app or at the website with your Wealthsimple login.
How Should I Get Started Using Wealthsimple Trade?
Click here to create a Wealthsimple Trade account. For a special signup bonus for our audience you’ll receive the equivalent cash value of a random stock worth $25 up to $4,500 Canadian when you fund your account.
But What if I Still Have Additional Questions Related to Wealthsimple Tax Login?
If this blog post still hasn’t given you the answers to all of your questions, and you’re looking for additional specific answers relating to Wealthsimple Tax Login, go to the Wealthsimple site to find answers to every one of your questions.