What is Wealthsimple?
Wealthsimple is an easy to use Canadian digital Financial, stocks plus crypto trading web app that differentiates itself from its competitors by charging no fees.
A leading Canadian fintech business founded in Autumn 2014 originally as a robo-advisor automated trading platform named Wealthsimple Invest, it has improved substantially over the last 8 years to also feature Wealthsimple Trade, a no fee discount brokerage service.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows Canadian consumers to trade single stocks and also ETFs without paying commissions. The exception is when trading stocks that are displayed in US Dollars. In which case, they charge a nominal currency conversion fee both when buying and selling. But, past us are the times of paying more than $7 per trade with online discount brokerages as was the case only a few years ago.
Exactly How Much in Funds do I Need to Start Investing on Wealthsimple Trade?
Wealthsimple is cool in that they allow new customers to make a minimum deposit of just $1. The majority of alternative banks and brokerages have large min deposit amounts of 1K-5k. This makes it difficult for the common new investor to start. With Wealthsimple Trade, you don’t need to be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Offer Registered Accounts?
Yes. Wealthsimple Trade has available registered and non-CRA-registered accounts. You are free to select between both RRSP and TFSA accounts during the setup phase.
But Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a easy to use mobile app that is available on both IOS and also Google Play. The mobile app makes the enrollment phase and the trading of stocks and ETFs truly easy.
But Is Wealthsimple Trade Legit?
. Wealthsimple Trade is safe. Wealthsimple reports more than 15 billion Canadian in Assets Under Management . they’ve been operating for more than 7 years and now employs more than 600 people. The primary owner is the large publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the very first no-fees digital discount brokerage to operate in Canada.
How Can I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so easy to add funds to your new account. Just connect the app to a chequing or savings account to your Trade account, and add funds to your account in only a couple of clicks. Deposits from financial institutions to Wealthsimple normally take a few days. Funds can just as easily be moved to your chequing or savings accounts using the exact same steps.
What Additional Benefits and Products Are Available?
Wealthsimple Cash – An alternative to Interac E-Transfers which allows one to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for this tax year and submit your taxes online free. It’s described as simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A hybrid pre paid visa and savings account which lets one to recieve 1% cashback on your purchases, as well as earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that includes a bunch of different courses on topics like saving, investments, crypto, mortgages and more.
All of the mentioned features, including Wealthsimple Trade can be found in the mobile app and at their site with a single login.
But How Can I Start Using Wealthsimple Trade?
Click here to setup your Wealthsimple Trade account. As an exclusive signup bonus offer to our audience you’ll get the cash value of a Canadian stock worth up to $4,500 CAD when you add funds to your account.
What if I Still Have Additional Questions Concerning Wealthsimple 13?
If this article still hasn’t given you the answers to each of your questions, and you’re looking for more info relating to Wealthsimple 13, go to the Wealthsimple site to get answers to every one of your questions.