What is Wealthsimple?
Wealthsimple is a simple to use Canadian online Financial, stocks plus crypto trading platform that sets itself apart from its competitors by charging no fees.
A Toronto, Ontario based online financial services company launched in the Autumn of twenty fourteen exclusively as a robo-advisor automated trading platform named Wealthsimple Invest, it has changed substantially over the last 8 years to feature Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets consumers trade both single stocks and ETFs without having to pay commissions. The exception to this is when trading ETFs and stocks which are displayed in USD. In this case, they do charge a nominal currency conversion fee both when buying and selling. But, behind us are the days of paying Upwards of $7 for each trade with digital discount brokerages as was the norm just a few years ago.
How Much Cash Will I Need to Have to Start on Wealthsimple Trade?
Wealthsimple is awesome in that they allow Canadian investors to make a minimum deposit of just $1. Most traditional banks and discount brokerages have large min deposit amounts of $1,000-5K. This makes it difficult for the every day investor to get started. With Wealthsimple Trade, one doesn’t need to be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Have Registered Accounts?
Of course. Wealthsimple Trade offers CRA registered and non-registered account types. You can choose both RRSP and TFSA account types in the setup process.
Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a modern mobile app that is offered to download on both iOS and Android. The app makes the registration process and also trading of stocks and ETFs truly simple.
Is Wealthsimple Trade Secure?
Yes. Wealthsimple Trade is safe. Wealthsimple has more than 15 billion CAD in Assets Under Management . This company has been in business for more than 7 years and at this time employs more than 600 Canadians. The majority shareholder is the publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital discount brokerage operating in Canada.
But How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so easy to deposit to an account. Simply connect a chequing or savings account to your Trade account, then add funds to your account in just a few clicks. Deposits from your bank to Wealthsimple typically take only a few days. Funds can also be moved back to a chequing or savings account by the same process.
What Other Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An equivalent to Interac e-Transfers which allow anyone to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for tax year and file your taxes online for free. It’s described to be easy, accurate and always free tax filing.
Wealthsimple Spend – A combination pre paid visa and savings account that allows one to get 1% cashback on all your purchases, as well as get a very competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that offers a bunch of online courses on different topics such as saving, investments, crypto, mortgages and much more.
Each of the above features, including Wealthsimple Trade may be found inside the mobile app and at the site with a single login.
But How Can I Begin With Wealthsimple Trade?
Click here to register for a new Wealthsimple Trade account. As a special registration bonus to our readers you’ll receive the cash value of a Canadian stock valued at up to $4,500 Canadian as soon as you fund your account.
So What if I Still Have Questions Concerning Wealthsimple Us?
If this blog post still hasn’t given you the answers to each of your questions, and you’re still browsing for more answers about Wealthsimple Us, check out the Wealthsimple website for answers to each your questions.