What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital investing, securities and crypto trading app that distinguishes itself from other apps by charging no fees.
A online financial services business founded in the Fall 2014 exclusively as a robo advisor automated trading platform called Wealthsimple Invest, it has grown substantially over the past eight years to include Wealthsimple Trade, a zero fees discount brokerage platform.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows investors trade both single stocks and also ETFs without paying fees. The exception is when trading securities which are listed in USD currency. In this case, they do charge a currency conversion fee when buying and selling. But, gone are the days of having to pay more than $7 for each trade with online discount brokerages as was the case only a couple years past.
Exactly How Much Money Will I Need to Have in Order to Start on Wealthsimple Trade?
Wealthsimple is awesome such that they will allow new customers to make a minimum deposit of just $1. Most alternative banks and discount brokerages have sizeable min deposit amounts of $1000-5K. This makes it tough for the common investor to start investing. With Wealthsimple Trade, you don’t need to be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Have TFSA Accounts?
Of course. Wealthsimple Trade offers both CRA registered and non-CRA-registered accounts. One can choose both RRSP and TFSA accounts in the setup phase.
Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a convenient mobile app available to download on both IOS and also Android. The mobile app makes the enrollment steps and the trading of stocks and ETFs very easy.
So Is Wealthsimple Trade Legit?
. Wealthsimple Trade is trustworthy. Wealthsimple boasts over 15 billion CAD of Assets Under Management . This company has been in business for more than 7 years and also currently employs over 600 Canadians. The main shareholder is the public Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fees digital brokerage operating in Canada.
So How Can I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly simple to fund your account. Simply connect to a chequing or savings account to your Trade account, then add money to your account in simply a couple of clicks. Deposits from financial institutions to Wealthsimple typically take only a few days. Funds can also be moved back to a chequing or savings accounts with the same method.
What Other Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is alternative to E-Transfers that allow you to quickly and easily transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for this tax season and file your tax return online free. It’s pitched as simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination pre paid visa and savings account which allows one to get 1% cashback on all your purchases, as well as get a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform that offers a ton of courses on saving, investing, crypto, real estate and more.
All of the mentioned products, along with Wealthsimple Trade may be accessed within the mobile app and on their website with one login.
But How Can I Get Started Using Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. For a special registration bonus offer for our audience you’ll receive the equivalent cash value of a random stock valued at $25 up to $4,500 Canadian once you make an initial deposit to your account.
What if I Still Have Additional Questions Related to Wealthsimple Tldr?
If this article still hasn’t given you the answers to all of your questions, and you’re looking for additional specific answers relating to Wealthsimple Tldr, visit the Wealthsimple website to find answers to every one of your questions.