What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian online investing, securities and crypto trading web app that sets itself apart from other apps by charging no fees.
A Toronto, Ontario based online financial services company founded in Autumn of twenty fourteen exclusively as a robo advisor algorithmic automated trading app named Wealthsimple Invest, it has evolved considerably over the previous eight years to also feature Wealthsimple Trade, a zero fees discount brokerage app.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows Canadian investors trade stand alone stocks and ETFs without having to pay fees. The exception to this is when trading stocks and ETFs that are denominated in USD currency. In that case, they charge a small currency conversion fee both when buying and selling. But, gone are the days of paying $7-12 per trade with discount brokerages as was common only a couple years past.
How Much in Funds do I Need in Order to Get Started With Wealthsimple Trade?
Wealthsimple is cool in that they will allow Canadians to make a minimum deposit of just $1. Many traditional banks and discount brokerages have sizeable min deposit amounts of $1000-5K. This makes it tough for the everyday new investor to start investing. With Wealthsimple Trade, you won’t need to already be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Offer TFSA Accounts?
They do. Wealthsimple Trade offers both CRA registered and non-CRA-registered account types. One are able to select between both RRSP and TFSA accounts during the setup wizard.
Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a easy to use mobile app that is offered on both IOS and Google Play. The app makes the enrollment steps and also trading of stocks and ETFs a breeze.
Is Wealthsimple Trade Safe?
Most definitely. Wealthsimple Trade is trustworthy. Wealthsimple boasts over 15 billion CAD in Assets Under Management . They have been in business for more than 7 years and right now employs about 600 Canadians. The primary owner is the respected public Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital brokerage operating in Canada.
So How Can I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very simple to fund your account. Just connect the app to a chequing or savings account to your Trade account, then add money to your account in just a few steps. Deposits from banks to Wealthsimple typically take a couple of days. Funds can also be withdrawn your chequing or savings accounts with the exact same method.
Which Other Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – An alternative to e-transfers which allows one to quickly and easily transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for this tax year and file your taxes online free. It’s described to be easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings account that allows one to earn 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 which offers a ton of different online courses on topics like saving, investing, crypto, real estate and much more.
Every one of the mentioned features, including Wealthsimple Trade may be accessed inside the mobile app or on the site with one login.
But How Can I Get Started With Wealthsimple Trade?
Click here to create a new Wealthsimple Trade account. As an exclusive signup bonus offer for our audience you will get the cash value of a stock valued at up to $4,500 CAD when you deposit to your account.
So What if I Still Have Additional Questions Concerning Understanding Wealthsimple Trade?
If this review still hasn’t answered each of your questions, and you’re browsing for further specific info relating to Understanding Wealthsimple Trade, go to the Wealthsimple website to get answers to every one of your questions.