What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital Financial, stock and crypto trading web app that differentiates itself from the competition by charging absolutely no fees.
A online financial services business launched in the Autumn 2014 exclusively as a robo-advisor automated trading platform called Wealthsimple Invest, it has grown substantially over the last eight years to also feature Wealthsimple Trade, a no fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows Canadian consumers trade both single stocks and also ETFs without having to pay fees. The exception is when you’re trading stocks and ETFs that are listed in USD. In that case, they do charge a currency conversion fee when buying and selling. But, past us are the times of having to pay Upwards of $7 per each trade with digital discount brokerages as was normal a few years ago.
Exactly How Much in Funds Will I Need to Have to Start Investing on Wealthsimple Trade?
Wealthsimple is awesome in that they will allow Canadians to make a minimum deposit of just $1. Many traditional banks and discount brokerages have quite large minimum deposit amounts of $1,000-5K. This makes it difficult for the common new investor to start. With Wealthsimple Trade, one doesn’t have to already be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Offer TFSA Accounts?
Of course. Wealthsimple Trade has available CRA registered and non-registered accounts. One are able to choose between both RRSP and TFSA accounts in the setup wizard.
But Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a convenient mobile app offered on iOS and Google Play. The mobile app makes the enrollment phase and also trading of stocks and ETFs super painless.
But Is Wealthsimple Trade Trustworthy?
Of course. Wealthsimple Trade is legit. Wealthsimple has over 15 billion Canadian in Assets Under Management (AUM). These folks have been expanding for more than 7 years and also employs more than 600 people. The main shareholder is the large publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fees online brokerage operating in Canada.
How Do I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very straight forward to deposit to your account. Just connect to a chequing or savings account to your Trade account, and then add funds to your account in simply a couple of steps. Deposits from your bank to Wealthsimple normally take only a few days. Funds can just as easily be moved to your chequing or savings account through the same steps.
Which Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – An alternative to Interac e-transfers that allows one to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for tax season and file your taxes online for free. It’s advertised to be simple, accurate and always free tax return filing.
Wealthsimple Spend – A combination pre paid debit card and savings account which lets one to recieve 1% cashback on all your purchases, and also get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which includes a bunch of online courses on saving, investments, crypto, home buying and more.
All of the listed products, along with Wealthsimple Trade may be found inside the app and from the website with your Wealthsimple login.
So How Can I Start With Wealthsimple Trade?
Click here to create a new Wealthsimple Trade account. For a special signup bonus to our readers you will get the cash value of a share worth $25 up to $4,500 CAD once you make an initial deposit to your account.
So What if I Still Have Additional Questions Related to Young And Thrifty Wealthsimple Trade?
If this article still hasn’t answered all of your questions, and you’re still looking for more specific facts relating to Young And Thrifty Wealthsimple Trade, go to the Wealthsimple website to find answers to each your questions.