What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online investing, stock and crypto trading app that sets itself apart from similar apps by charging no fees.
A leading Canadian fintech company founded in Fall twenty fourteen exclusively as a robo-advisor automated trading platform named Wealthsimple Invest, it has evolved substantially over the past eight years to include Wealthsimple Trade, a zero fees discount brokerage app.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets Canadian investors trade stand alone stocks and also ETFs without paying fees. The exception is when you’re trading stocks which are listed in US Dollars. In which case, they will charge a nominal currency conversion fee when buying and selling. However, past us are the times of having to pay Upwards of $7 for each trade with digital discount brokerages as was normal only a couple years ago.
How Much Cash do I Need to Have to Start Investing on Wealthsimple Trade?
Wealthsimple is special in that they allow Canadians to make a minimum deposit of only $1. Many alternative banks and discount brokerages have quite large minimum deposit amounts of 1k-$5,000. This makes it hard for the typical investor to start investing. With Wealthsimple Trade, one doesn’t have to be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Offer TFSA Accounts?
Yes. Wealthsimple Trade offers both registered and non-CRA-registered account types. You are free to select between both RRSP and TFSA accounts in the setup wizard.
So Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a well designed mobile app offered to download on both Apple and Android. The app makes the signup steps and also trading of stocks and ETFs painless.
But Is Wealthsimple Trade Secure?
Definitely. Wealthsimple Trade is secure. Wealthsimple reports in excess of 15 billion Canadian of Assets Under Management . they’ve been operating for more than 7 years and right now employs roughly 600 people. The majority owner is the large publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fees digital discount brokerage operating in Canada.
But How Can I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so simple to fund your new account. Simply connect a chequing or savings account to your Trade account, and add funds to your account in only a couple of clicks. Deposits from banks to Wealthsimple typically take only a couple of days. Funds can just as easily be moved to a chequing or savings account with the same method.
Which Other Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is alternative to Interac e-transfers which allows you to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for this tax year and submit your taxes online free. It’s described to be simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination pre paid visa and savings account that allows one to earn 1% cashback on your everyday spending, and also earn a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that offers a ton of courses on saving, investments, crypto, mortgages and more.
All of the listed features, including Wealthsimple Trade can be accessed in the app and from the site with one login.
How Can I Get Started Using Wealthsimple Trade?
Click here to create a new Wealthsimple Trade account. As an exclusive signup bonus offer to our readers you will get the cash value of a random share valued at $25 up to $4,500 CAD when you add funds to your account.
But What if I Still Have Questions Related to Vechain Wealthsimple?
If this blog post still hasn’t answered all of your questions, and you’re still browsing for further specific answers about Vechain Wealthsimple, visit the Wealthsimple site for answers to each your questions.