What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online investing, stock plus crypto trading platform that sets itself apart from the competition by charging no fees.
A leading Canadian fintech business founded in Autumn of 2014 exclusively as a robo advisor automated trading app called Wealthsimple Invest, it has improved considerably over the past 8 years to feature Wealthsimple Trade, a zero fees discount brokerage app.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets Canadian investors trade single stocks and also ETFs without having to pay any commissions. The exception to this is when trading ETFs and stocks that are denominated in USD. In this case, they will charge a currency conversion fee when buying and selling. However, past us are the days of having to pay more than $7 for each trade with digital discount brokerages as was common just a couple years ago.
Exactly How Much Cash Will I Need to Have in Order to Get Started on Wealthsimple Trade?
Wealthsimple is cool in that they will allow Canadians to make a minimum deposit of only $1. Most alternative banks and brokerages have quite large min deposit amounts of $1000-$5000. This makes it hard for the common investor to start investing. With Wealthsimple Trade, one doesn’t need to be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Have Registered Accounts?
It does. Wealthsimple Trade has both registered and non-CRA-registered accounts. You are able to choose both RRSP and TFSA account types in the setup phase.
So Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a well designed mobile app that is available on both iOS and Android. The mobile app makes the registration steps and also the trading of stocks and ETFs easy.
Is Wealthsimple Trade Legit?
Of course. Wealthsimple Trade is secure. Wealthsimple boasts more than 15 billion CAD in Assets Under Management . They have been expanding for more than 7 years and currently employs more than 600 people. The majority owner is the admired public Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital brokerage to operate in Canada.
But How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly simple to deposit to a new account. Simply connect the app to a chequing or savings account to your Trade account, then fund your account in only a couple of steps. Deposits from your bank to Wealthsimple normally take a couple of days. Funds can just as easily be withdrawn a chequing or savings account by using the same steps.
Which Additional Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to e-transfers that allows anyone to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for tax year and submit your taxes online for free. It’s described as easy, accurate and always free tax filing.
Wealthsimple Spend – A combination prepaid visa and savings account which lets you to earn 1% cashback on your purchases, and also get a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that includes a ton of online courses on topics like saving, investments, crypto, real estate and much more.
All of the above products, including Wealthsimple Trade can be accessed on the mobile app and at the website with a single login.
So How do I Begin With Wealthsimple Trade?
Click here to setup your Wealthsimple Trade account. As a special signup bonus offer to our readers you will get the cash value of a random stock valued at up to $4,500 Canadian once you make an initial deposit to your account.
But What if I Still Have Additional Questions About Wealthsimple Us Account?
If this blog post still hasn’t given you the answers to all of your questions, and you’re still browsing for more facts about Wealthsimple Us Account, check out the Wealthsimple site to find answers to every one of your questions.