What is Wealthsimple?
Wealthsimple is a simple to use Canadian digital Financial, stock and crypto trading app that distinguishes itself from similar apps by charging no fees.
A Toronto, Ontario based online financial services company founded in the Fall 2014 originally as a robo-advisor trading platform named Wealthsimple Invest, it has changed substantially over the last 8 years to include Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets investors trade both individual stocks and ETFs without needing to pay commissions. The exception is when you’re trading securities which are displayed in USD currency. In which case, they do charge a nominal currency conversion fee when buying and selling. However, behind us are the times of having to pay $7-12 per trade with online discount brokerages as was the case only a few years past.
Exactly How Much Cash do I Need to Have to Start Investing on Wealthsimple Trade?
Wealthsimple is awesome such that they allow investors to make a minimum deposit of only $1. Many alternative banks and brokerages have large min deposit amounts of $1,000-5k. This makes it difficult for the typical investor to get started. With Wealthsimple Trade, you don’t need to be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Offer TFSA Accounts?
Yes. Wealthsimple Trade has CRA registered and non-CRA-registered accounts. You are free to choose between both RRSP and TFSA account types during the setup phase.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a modern mobile app that is available on Apple and Android. The smartphone app makes the registration phase and also trading of stocks and ETFs painless.
But Is Wealthsimple Trade Trustworthy?
. Wealthsimple Trade is secure. Wealthsimple boasts in excess of 15 billion Canadian of Assets Under Management . they’ve been in business for more than 7 years and right now employs more than 600 Canadians. The main owner is the respected publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fees digital discount brokerage operating in Canada.
But How Do I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so easy to add funds to your account. Just connect the app to a chequing or savings account to your Trade account, and fund your account in simply a few steps. Deposits from banks to Wealthsimple typically take only a few days. Funds can just as easily be withdrawn your chequing or savings account by using the same process.
What Other Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to Interac e-Transfers which allow one to quickly and easily send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for this tax season and submit your tax return online for free. It’s described to be simple, accurate and always free tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings account which lets one to recieve 1% cashback on all your spending, and also earn a very competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform which includes a bunch of online courses on saving, investments, crypto, mortgages and much more.
Each of the listed features, along with Wealthsimple Trade can be found within the mobile app or at their site with one login.
So How Can I Begin With Wealthsimple Trade?
Click here to register for a new Wealthsimple Trade account. As a special signup bonus offer for our audience you’ll receive the cash value of a random stock valued at up to $4,500 CAD once you fund your account.
What if I Still Have Questions Related to Wealthsimple Zero Commission Trading?
If this article didn’t given you the answers to each of your questions, and you’re looking for further information relating to Wealthsimple Zero Commission Trading, go to the Wealthsimple site for answers to all your questions.