What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital investing, stocks plus crypto trading app that differentiates itself from its competitors by charging no fees.
A fintech business founded in the Autumn 2014 exclusively as a robo advisor algorithmic trading platform called Wealthsimple Invest, it has improved substantially over the past 8 years to feature Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows consumers to trade single stocks and also ETFs without needing to pay fees. The exception to this is when trading stocks and ETFs which are listed in USD. In which case, they will charge a small currency conversion fee both when buying and selling. But, past us are the days of having to pay $7-12 per trade with discount brokerages as was the case only a few years ago.
How Much Cash Will I Need in Order to Get Started on Wealthsimple Trade?
Wealthsimple is cool such that they will allow new customers to make a minimum deposit of just $1. The majority of traditional banks and discount brokerages have quite large minimum deposit amounts of $1,000-$5000. This makes it difficult for the typical new investor to start. With Wealthsimple Trade, you don’t need to be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Have TFSA Accounts?
Yes. Wealthsimple Trade has available both CRA registered and non-CRA-registered account types. You can select between both RRSP and TFSA accounts in the setup process.
So Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a modern mobile app that is available to download on both IOS and also Google Play. The mobile app makes the signup phase and trading of stocks and ETFs a breeze.
So Is Wealthsimple Trade Legit?
Of course. Wealthsimple Trade is secure. Wealthsimple has over 15 billion Canadian in Assets Under Management (AUM). They have been operating for more than 7 years and also right now employs over 600 people. The controlling owner is the large publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fees online brokerage to operate in Canada.
How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so straight forward to deposit to your account. Just connect a chequing or savings account to your Trade account, then add funds to your account in just a few clicks. Deposits from financial institutions to Wealthsimple usually take only a few days. Funds can just as easily be moved back to your chequing or savings accounts by using the exact same method.
What Other Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An alternative to E-transfers which allow one to quickly and efficiently send cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for tax season and file your tax return online for free. It’s pitched to be easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination prepaid visa and savings product which allows one to get 1% cashback on your everyday purchases, and also get a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that offers a variety of different courses on saving, investing, crypto, real estate and much more.
Every one of the mentioned features, along with Wealthsimple Trade may be accessed inside the app or at their website with your Wealthsimple login.
How Can I Begin With Wealthsimple Trade?
Click here to signup for a new Wealthsimple Trade account. For a special registration bonus offer for our audience you’ll receive the cash value of a share worth $25 up to $4,500 Canadian once you deposit to your account.
What if I Still Have Additional Questions Related to Unavailable On Trade Wealthsimple?
If this review still hasn’t answered each of your questions, and you’re looking for more facts relating to Unavailable On Trade Wealthsimple, visit the Wealthsimple website to find answers to all your questions.