What is Wealthsimple?
Wealthsimple is an easy to use Canadian online Financial, securities and crypto trading platform that sets itself apart from its competitors by charging no fees.
A Toronto, Ontario based online financial services business founded in Autumn of 2014 exclusively as a robo-advisor automated trading platform named Wealthsimple Invest, it has improved significantly over the last 8 years to also feature Wealthsimple Trade, a no fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets Canadian consumers trade both individual stocks and ETFs without needing to pay fees. The exception to this is when trading ETFs and stocks that are displayed in USD. In that case, they do charge a nominal currency conversion fee both when buying and selling. However, past us are the times of paying $7-12 for each trade with digital discount brokerages as was the case a few years ago.
How Much Money do I Need to Start With Wealthsimple Trade?
Wealthsimple is special in that they allow Canadian investors to make a minimum deposit of just $1. The majority of alternative banks and brokerages have sizeable minimum deposit amounts of 1k-$5000. This makes it impossible for the common new investor to start. With Wealthsimple Trade, you won’t have to already be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Have RRSP Accounts?
Yes. Wealthsimple Trade has CRA registered and non-CRA-registered account types. You are free to choose both RRSP and TFSA account types in the setup process.
Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a modern mobile app available to download on Apple and Android. The app makes the signup phase and trading of stocks and ETFs easy.
So Is Wealthsimple Trade Safe?
. Wealthsimple Trade is legit. Wealthsimple has in excess of 15 billion CAD in Assets Under Management . This company has been operating for more than 7 years and right now employs roughly 600 folks. The controlling owner is the respected public Canadian company Power Corp of Canada. Weapthsimple Trade was the first no-fee digital brokerage operating in Canada.
How Does One Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly easy to add money to your new account. Just connect the app to a chequing or savings account with your Trade account, and then add funds to your account in just a couple of steps. Deposits from financial institutions to Wealthsimple usually take only a couple of days. Funds can the same way can be moved to your chequing or savings accounts with the exact same method.
Which Additional Features and Products Are Available?
Wealthsimple Cash – This is equivalent to E-Transfers which allows you to quickly and easily transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for tax year and file your taxes online free. It’s described to be simple, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid prepaid visa and savings account which allows you to recieve 1% cashback on all your everyday spending, as well as get a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform that includes a bunch of different courses on different topics such as saving, investing, crypto, mortgages and much more.
All of the above features, along with Wealthsimple Trade can be found in the mobile app and on the site with your Wealthsimple login.
But How Should I Get Started Using Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. For a special signup bonus to our audience you will receive the cash value of a Canadian stock worth $25 up to $4,500 Canadian when you fund your account.
But What if I Still Have Questions Related to Wealthsimple Usd Fee?
If this article hasn’t given you the answers to all of your questions, and you’re searching for more information about Wealthsimple Usd Fee, visit the Wealthsimple site to find answers to each your questions.