What is Wealthsimple?
Wealthsimple is a simple to use Canadian digital investing, stock and crypto trading web app that differentiates itself from similar apps by charging absolutely no fees.
A leading Canadian online financial services company launched in Autumn of twenty fourteen originally as a robo advisor algorithmic automated trading app called Wealthsimple Invest, it has improved significantly over the previous eight years to also feature Wealthsimple Trade, a no fee discount brokerage platform.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets consumers trade both stand alone stocks and also ETFs without having to pay any commissions. The exception is when you’re trading securities that are displayed in USD currency. In this case, they will charge a currency conversion fee when buying and selling. However, past us are the days of having to pay $7-12 for each trade with digital discount brokerages as was normal only a few years past.
How Much Money do I Need in Order to Start Investing With Wealthsimple Trade?
Wealthsimple is special in that they will allow Canadians to make a minimum deposit of just $1. Most alternative banks and brokerages have quite large min deposit amounts of 1k-$5000. This makes it difficult for the typical investor to get started. With Wealthsimple Trade, one doesn’t have to already be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Have Registered Accounts?
Yes. Wealthsimple Trade offers CRA registered and non-CRA-registered account types. One can choose both RRSP and TFSA account types in the setup wizard.
So Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a easy to use mobile app that is offered to download on both iOS and also Google Play. The mobile app makes the enrollment process and trading of stocks and ETFs incredibly simple.
But Is Wealthsimple Trade Safe?
Definitely. Wealthsimple Trade is safe. Wealthsimple boasts in excess of 15 billion CAD of Assets Under Management . These folks have been expanding for more than 7 years and also right now employs roughly 600 Canadians. The main owner is the admired publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fee digital discount brokerage operating in Canada.
So How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite easy to deposit to a new account. Just connect to a chequing or savings account with your Trade account, then add money to your account in just a few clicks. Deposits from financial institutions to Wealthsimple normally take only a few days. Funds can just as easily be moved back to a chequing or savings account using the same method.
Which Additional Features and Products Are Available?
Wealthsimple Cash – This is alternative to E-transfers which allows anyone to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for this tax season and submit your tax return online free. It’s described to be easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination pre paid debit card and savings account that allows you to earn 1% cashback on all your everyday purchases, and also get a very competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform which includes a variety of courses on topics like saving, investments, crypto, mortgages and more.
Each of the above features, including Wealthsimple Trade may be accessed within the app and at their site with your Wealthsimple login.
But How Can I Begin Using Wealthsimple Trade?
Click here to setup a new Wealthsimple Trade account. As a special signup bonus offer to our audience you will receive the cash value of a share valued at $25 up to $4,500 CAD once you fund your account.
What if I Still Have Questions Concerning Wealthsimple Wire Transfer?
If this blog post still hasn’t given you the answers to each of your questions, and you’re looking for more specific answers about Wealthsimple Wire Transfer, go to the Wealthsimple website for answers to every one of your questions.