What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital investing, stocks plus crypto trading app that differentiates itself from the competition by charging no fees.
A leading Canadian online financial services business founded in Autumn 2014 originally as a robo-advisor trading app named Wealthsimple Invest, it has improved substantially over the last 8 years to also feature Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets investors to trade single stocks and also ETFs without having to pay any fees. The exception to this is when trading securities which are listed in USD currency. In this case, they do charge a currency conversion fee both when buying and selling. But, past us are the days of having to pay Upwards of $7 for each trade with discount brokerages as was normal only a couple years ago.
How Much Money do I Need to Get Started on Wealthsimple Trade?
Wealthsimple is cool such that they allow new customers to make a minimum deposit of just $1. Many traditional banks and brokerages have sizeable minimum deposit amounts of $1,000-5k. This makes it hard for the common new investor to start. With Wealthsimple Trade, you won’t have to be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Have Registered Accounts?
Yes. Wealthsimple Trade has CRA registered and non-registered accounts. You are able to select between both RRSP and TFSA accounts in the setup wizard.
Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a easy to use mobile app available on both iOS and also Google Play. The app makes the enrollment process and also the trading of stocks and ETFs easy.
Is Wealthsimple Trade Trustworthy?
Most definitely. Wealthsimple Trade is secure. Wealthsimple has more than 15 billion CAD in Assets Under Management (AUM). These folks have been operating for more than 7 years and at this time employs about 600 Canadians. The main owner is the large public Canadian corporation Power Corp of Canada. Weapthsimple Trade is the first no-fees online discount brokerage to operate in Canada.
But How Can I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly straight forward to fund your account. Just connect to a chequing or savings account to your Trade account, then add money to your account in simply a few clicks. Deposits from financial institutions to Wealthsimple typically take a few days. Funds can just as easily be withdrawn a chequing or savings accounts using the exact same process.
What Additional Benefits and Products Are Available?
Wealthsimple Cash – An equivalent to e-Transfers that allow anyone to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for this tax season and submit your taxes online free. It’s described as easy, accurate and always free tax return filing.
Wealthsimple Spend – A combination prepaid debit card and savings product which allows one to get 1% cashback on all your purchases, and also earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that offers a ton of different courses on topics like saving, investing, crypto, real estate and more.
Every one of the mentioned features, including Wealthsimple Trade can be accessed on the app or at their website with one login.
But How Should I Get Started Using Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. For a special signup bonus to our audience you will get the cash value of a stock worth up to $4,500 Canadian once you deposit to your account.
What if I Still Have Additional Questions Concerning Youtube Wealthsimple Trade?
If this review didn’t answered each of your questions, and you’re still browsing for more facts about Youtube Wealthsimple Trade, visit the Wealthsimple website to get answers to each your questions.