What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online Financial, stock and crypto trading app that sets itself apart from other apps by charging no fees.
A fintech company founded in the Autumn of 2014 exclusively as a robo-advisor automated trading app called Wealthsimple Invest, it has evolved substantially over the last eight years to feature Wealthsimple Trade, a zero fees discount brokerage service.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows Canadian investors trade both individual stocks and ETFs without needing to pay any commissions. The exception is when trading stocks and ETFs that are displayed in USD currency. In which case, they charge a small currency conversion fee when buying and selling. However, gone are the days of having to pay Upwards of $7 per each trade with discount brokerages as was expected just a couple years past.
Exactly How Much in Funds Will I Need to Have to Get Started With Wealthsimple Trade?
Wealthsimple is awesome in that they will allow new customers to make a minimum deposit of only $1. Many alternative banks and brokerages have quite large initial deposit amounts of 1K-5K. This makes it hard for the normal new investor to start. With Wealthsimple Trade, you don’t need to be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Offer TFSA Accounts?
It does. Wealthsimple Trade has available registered and non-registered accounts. One can select both RRSP and TFSA account types during the setup phase.
So Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a well designed mobile app that is offered on Apple and also Android. The mobile app makes the signup process and the trading of stocks and ETFs very painless.
But Is Wealthsimple Trade Safe?
. Wealthsimple Trade is trustworthy. Wealthsimple boasts over 15 billion Canadian of Assets Under Management . they’ve been doing business for more than 7 years and right now employs about 600 folks. The main shareholder is the large public Canadian corporation Power Corp of Canada. Weapthsimple Trade is the very first no-fee online brokerage to operate in Canada.
So How Can I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly straight forward to add funds to your account. Simply connect a chequing or savings account with your Trade account, then add funds to your account in simply a few clicks. Deposits from your bank to Wealthsimple usually take only a few days. Funds can also be moved to a chequing or savings account using the same process.
Which Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to E-transfers which allows anyone to quickly and simply send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for this tax season and submit your taxes online free. It’s advertised to be simple, accurate and always free tax return filing.
Wealthsimple Spend – A combination prepaid debit card and savings account that lets one to get 1% cashback on all your everyday purchases, as well as get a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform which includes a ton of courses on different topics such as saving, investing, crypto, mortgages and much more.
All of the above products, along with Wealthsimple Trade can be found in the mobile app and on the site with a single login.
How do I Get Started With Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. As a special registration bonus to our audience you’ll get the cash value of a random stock valued at up to $4,500 CAD when you add funds to your account.
What if I Still Have Questions About Wealthsimple Twitter?
If this review didn’t given you the answers to each of your questions, and you’re still looking for additional information relating to Wealthsimple Twitter, check out the Wealthsimple website for answers to each your questions.