What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian online Financial, stocks plus crypto trading app that distinguishes itself from the competition by charging no fees.
A Toronto, Ontario based online financial services business launched in Fall of 2014 originally as a robo-advisor automated trading platform called Wealthsimple Invest, it has grown considerably over the past 8 years to also feature Wealthsimple Trade, a no fee discount brokerage app.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets consumers to trade both stand alone stocks and ETFs without needing to pay any fees. The exception to this is when you’re trading stocks and ETFs that are displayed in USD. In this case, they charge a nominal currency conversion fee when buying and selling. But, gone are the days of paying Upwards of $7 per trade with discount brokerages as was the case a couple years ago.
How Much Cash Will I Need to Have in Order to Start With Wealthsimple Trade?
Wealthsimple is unique in that they allow investors to make a minimum deposit of just $1. The majority of alternative banks and brokerages have sizeable minimum deposit amounts of $1000-$5000. This makes it impossible for the every day new investor to start investing. With Wealthsimple Trade, you won’t need to be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Offer TFSA Accounts?
They do. Wealthsimple Trade has available registered and non-CRA-registered accounts. One are able to choose between both RRSP and TFSA account types during the setup wizard.
So Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a modern mobile app that is offered on both iOS and Google Play. The mobile app makes the enrollment process and the trading of stocks and ETFs truly painless.
But Is Wealthsimple Trade Legit?
For sure. Wealthsimple Trade is trustworthy. Wealthsimple has over 15 billion Canadian in Assets Under Management (AUM). This company has been operating for more than 7 years and now employs over 600 folks. The majority owner is the admired public Canadian entity Power Corp of Canada. Weapthsimple Trade was the very first no-fees digital brokerage operating in Canada.
How Does One Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it straight forward to add money to an account. Just connect the app to a chequing or savings account to your Trade account, then add money to your account in simply a few steps. Deposits from financial institutions to Wealthsimple normally take just a couple of days. Funds can the same way can be moved to a chequing or savings account through the exact same method.
What Other Benefits and Products Are Available?
Wealthsimple Cash – An equivalent to Interac E-Transfers which allows you to quickly and easily send cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for this tax year and file your taxes online for free. It’s advertised to be easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings product that lets one to recieve 1% cashback on all your everyday purchases, and also get a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that offers a ton of different online courses on different topics such as saving, investments, crypto, real estate and much more.
Each of the listed products, including Wealthsimple Trade can be accessed in the mobile app and at their site with a single login.
But How Should I Get Started With Wealthsimple Trade?
Click here to create a new Wealthsimple Trade account. As a special registration bonus offer for our audience you’ll receive the cash value of a random stock valued at $25 up to $4,500 CAD when you add funds to your account.
So What if I Still Have Questions Related to Wealthsimple Us Fees?
If this blog post hasn’t given you the answers to all of your questions, and you’re still looking for further info about Wealthsimple Us Fees, check out the Wealthsimple website to find answers to all your questions.