What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian digital investing, stocks and crypto trading app that differentiates itself from similar apps by charging no fees.
A fintech company launched in the Autumn of twenty fourteen exclusively as a robo advisor algorithmic trading app named Wealthsimple Invest, it has evolved substantially over the last 8 years to include Wealthsimple Trade, a no fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets Canadian investors trade stand alone stocks and also ETFs without having to pay commissions. The exception is when you’re trading ETFs and stocks that are displayed in USD currency. In that case, they do charge a small currency conversion fee both when buying and selling. However, past us are the times of paying Upwards of $7 per trade with online discount brokerages as was the norm only a couple years past.
Exactly How Much in Funds Will I Need to Have in Order to Begin Investing With Wealthsimple Trade?
Wealthsimple is cool such that they will allow new customers to make a minimum deposit of only $1. Many alternative banks and brokerages have sizeable min deposit amounts of 1k-$5000. This makes it difficult for the everyday new investor to get started. With Wealthsimple Trade, one doesn’t have to be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Have TFSA Accounts?
Of course. Wealthsimple Trade has both registered and non-CRA-registered accounts. One may select both RRSP and TFSA account types during the setup phase.
But Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a modern mobile app available to download on IOS and Google Play. The app makes the enrollment phase and also the trading of stocks and ETFs a breeze.
But Is Wealthsimple Trade Secure?
For sure. Wealthsimple Trade is legit. Wealthsimple boasts over 15 billion CAD in Assets Under Management (AUM). These folks have been operating for more than 7 years and also now employs over 600 folks. The controlling shareholder is the large publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital discount brokerage to operate in Canada.
But How Do I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly easy to add funds to a new account. Simply connect the app to a chequing or savings account to your Trade account, then add money to your account in only a couple of clicks. Deposits from financial institutions to Wealthsimple usually take only a couple of days. Funds can just as easily be moved to your chequing or savings account using the same steps.
Which Other Benefits and Products Are Available?
Wealthsimple Cash – This is alternative to Interac E-transfers which allows you to quickly and efficiently send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for tax year and submit your taxes online free. It’s described to be easy, accurate and always free income tax filing.
Wealthsimple Spend – A hybrid pre paid visa and savings product that lets you to get 1% cashback on your purchases, as well as earn a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform which offers a ton of different online courses on topics like saving, investments, crypto, home buying and more.
Each of the listed features, including Wealthsimple Trade can be found within the mobile app or on their website with a single login.
How Should I Get Started With Wealthsimple Trade?
Click here to setup a new Wealthsimple Trade account. As an exclusive registration bonus for our audience you will receive the cash value of a random share valued at $25 up to $4,500 CAD when you deposit to your account.
So What if I Still Have Questions About Wealthsimple 100 000?
If this review hasn’t given you the answers to each of your questions, and you’re browsing for additional specific information relating to Wealthsimple 100 000, check out the Wealthsimple site for answers to every one of your questions.