What is Wealthsimple?
Wealthsimple is an easy to use Canadian digital investing, stocks and crypto trading app that differentiates itself from the competition by charging absolutely no fees.
A Toronto, Ontario based fintech company founded in Autumn of 2014 exclusively as a robo advisor automated trading platform called Wealthsimple Invest, it has changed significantly over the past eight years to include Wealthsimple Trade, a no fees discount brokerage app.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets Canadian investors to trade individual stocks and also ETFs without paying any commissions. The exception to this is when trading stocks and ETFs that are displayed in US Dollars. In that case, they charge a nominal currency conversion fee when buying and selling. But, gone are the times of paying more than $7 per trade with online discount brokerages as was common only a couple years past.
Exactly How Much Money Will I Need to Get Started on Wealthsimple Trade?
Wealthsimple is special in that they will allow investors to make a minimum deposit of only $1. Most traditional banks and brokerages have sizeable minimum deposit amounts of $1,000-5k. This makes it hard for the common investor to start. With Wealthsimple Trade, you don’t have to be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Have Registered Accounts?
Of course. Wealthsimple Trade has CRA registered and non-CRA-registered accounts. One are free to choose both RRSP and TFSA account types in the setup phase.
But Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a well designed mobile app available on both iOS and Android. The mobile app makes the registration process and also the trading of stocks and ETFs truly a breeze.
But Is Wealthsimple Trade Secure?
Of course. Wealthsimple Trade is legit. Wealthsimple has over 15 billion CAD in Assets Under Management (AUM). they’ve been expanding for more than 7 years and also right now employs over 600 people. The primary owner is the public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fees digital brokerage operating in Canada.
How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite simple to deposit to a new account. Just connect a chequing or savings account to your Trade account, then add funds to your account in simply a couple of steps. Deposits from banks to Wealthsimple usually take a couple of days. Funds can the same way can be withdrawn your chequing or savings account by the same steps.
What Additional Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is alternative to Interac E-transfers that allows one to quickly and efficiently transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for this tax season and submit your tax return online for free. It’s pitched to be easy, accurate and always free tax filing.
Wealthsimple Spend – A combination pre paid visa and savings product that allows one to earn 1% cashback on all your purchases, and also earn a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform which includes a ton of online courses on topics like saving, investing, crypto, home buying and more.
All of the mentioned products, along with Wealthsimple Trade may be found inside the app and at their site with your Wealthsimple login.
So How Should I Get Started Using Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. For a special registration bonus offer to our audience you will get the equivalent cash value of a random Canadian stock valued at up to $4,500 Canadian when you add funds to your account.
What if I Still Have Questions About Wealthsimple Us Citizen?
If this blog post hasn’t given you the answers to each of your questions, and you’re still browsing for additional information about Wealthsimple Us Citizen, visit the Wealthsimple site to find answers to every one of your questions.