What is Wealthsimple?
Wealthsimple is an easy to use Canadian web based investing, securities and crypto trading app that sets itself apart from other apps by charging absolutely no fees.
A Toronto, Ontario based fintech business launched in Fall 2014 exclusively as a robo-advisor algorithmic automated trading platform named Wealthsimple Invest, it has evolved significantly over the previous 8 years to feature Wealthsimple Trade, a no fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows Canadian consumers to trade both stand alone stocks and ETFs without paying commissions. The exception to this is when you’re trading stocks and ETFs that are denominated in USD currency. In that case, they charge a small currency conversion fee when buying and selling. However, past us are the days of paying $7-12 per each trade with discount brokerages as was the norm only a few years past.
How Much Cash Will I Need to Start Investing on Wealthsimple Trade?
Wealthsimple is cool in that they will allow new customers to make a minimum deposit of just $1. Many traditional banks and discount brokerages have quite large initial deposit amounts of $1,000-$5,000. This makes it difficult for the common investor to get started. With Wealthsimple Trade, you won’t have to already be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Offer Registered Accounts?
They do. Wealthsimple Trade has available registered and non-registered accounts. You may select both RRSP and TFSA account types during the setup phase.
Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a well designed mobile app available on iOS and also Android. The app makes the registration phase and trading of stocks and ETFs painless.
So Is Wealthsimple Trade Secure?
For sure. Wealthsimple Trade is secure. Wealthsimple reports more than 15 billion Canadian in Assets Under Management . These folks have been doing business for more than 7 years and at this time employs over 600 Canadians. The main shareholder is the respected publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fee online discount brokerage to operate in Canada.
So How Does One Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it easy to add funds to your account. Just connect to a chequing or savings account to your Trade account, and add money to your account in simply a couple of steps. Deposits from financial institutions to Wealthsimple usually take a couple of days. Funds can just as easily be withdrawn your chequing or savings account with the exact same method.
What Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to Interac E-transfers that allow one to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for this tax year and submit your taxes online for free. It’s described as easy, accurate and always free tax filing.
Wealthsimple Spend – A hybrid prepaid visa and savings account which lets you to earn 1% cashback on all your purchases, and also earn a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform that includes a variety of online courses on saving, investments, crypto, real estate and much more.
All of the mentioned products, along with Wealthsimple Trade can be accessed within the app and at the site with your Wealthsimple login.
How Should I Begin With Wealthsimple Trade?
Click here to create a new Wealthsimple Trade account. As an exclusive signup bonus for our readers you’ll get the cash value of a share worth up to $4,500 Canadian as soon as you add funds to your account.
But What if I Still Have Additional Questions Concerning Wealthsimple 2fa?
If this review hasn’t given you the answers to all of your questions, and you’re still browsing for further answers about Wealthsimple 2fa, check out the Wealthsimple website for answers to all your questions.