What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian digital investing, stocks plus crypto trading platform that sets itself apart from the competition by charging no fees.
A Toronto, Ontario based online financial services business launched in the Autumn 2014 exclusively as a robo-advisor algorithmic trading app named Wealthsimple Invest, it has changed considerably over the last 8 years to also feature Wealthsimple Trade, a no fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets investors trade single stocks and ETFs without having to pay fees. The exception to this is when trading ETFs and stocks which are displayed in USD currency. In that case, they do charge a nominal currency conversion fee both when buying and selling. However, behind us are the times of paying more than $7 for each trade with online discount brokerages as was normal a couple years ago.
How Much Money Will I Need in Order to Start Investing With Wealthsimple Trade?
Wealthsimple is unique such that they will allow Canadian investors to make a minimum deposit of only $1. Most alternative banks and discount brokerages have large initial deposit amounts of $1,000-5K. This makes it impossible for the common investor to get started. With Wealthsimple Trade, you don’t have to already be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Have Registered Accounts?
They do. Wealthsimple Trade has CRA registered and non-CRA-registered accounts. One are free to select both RRSP and TFSA account types during the setup phase.
So Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a easy to use mobile app available to download on Apple and Google Play. The smartphone app makes the signup process and also trading of stocks and ETFs super painless.
So Is Wealthsimple Trade Trustworthy?
Of course. Wealthsimple Trade is secure. Wealthsimple reports more than 15 billion Canadian of Assets Under Management . They have been expanding for more than 7 years and also at this time employs over 600 Canadians. The primary shareholder is the public Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fees online discount brokerage to operate in Canada.
How Can I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very simple to add funds to your new account. Just connect the app to a chequing or savings account to your Trade account, then add money to your account in just a couple of clicks. Deposits from financial institutions to Wealthsimple normally take a couple of days. Funds can just as easily be moved to your chequing or savings accounts by using the exact same method.
Which Other Features and Products Are Available?
Wealthsimple Cash – This is alternative to Interac e-transfers which allows anyone to quickly and efficiently send money to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for this tax season and submit your taxes online free. It’s described to be simple, accurate and always totally free income tax filing.
Wealthsimple Spend – A combination pre paid visa and savings account which lets one to get 1% cashback on your purchases, and also earn a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform which offers a bunch of courses on saving, investments, crypto, mortgages and more.
Every one of the mentioned features, along with Wealthsimple Trade may be found on the mobile app or from their website with your Wealthsimple login.
So How Can I Begin With Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. As an exclusive signup bonus for our audience you’ll receive the equivalent cash value of a random stock worth up to $4,500 CAD as soon as you make an initial deposit to your account.
But What if I Still Have Additional Questions Related to Wealthsimple 0 Available To Transfer?
If this article still hasn’t answered each of your questions, and you’re searching for more specific info relating to Wealthsimple 0 Available To Transfer, check out the Wealthsimple website to get answers to every one of your questions.