What is Wealthsimple?
Wealthsimple is a simple to use Canadian web based Financial, securities and crypto trading platform that distinguishes itself from other apps by charging absolutely no fees.
A leading Canadian fintech company launched in Autumn of 2014 exclusively as a robo-advisor algorithmic trading platform named Wealthsimple Invest, it has improved significantly over the last 8 years to also feature Wealthsimple Trade, a no fees discount brokerage app.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade allows Canadian investors trade both individual stocks and ETFs without paying any commissions. The exception to this is when trading stocks which are denominated in USD. In this case, they charge a small currency conversion fee both when buying and selling. However, gone are the times of paying Upwards of $7 per each trade with online discount brokerages as was the case only a few years ago.
Exactly How Much Cash do I Need to Have in Order to Start on Wealthsimple Trade?
Wealthsimple is unique such that they allow Canadians to make a minimum deposit of just $1. The majority of traditional banks and brokerages have sizeable min deposit amounts of $1000-$5,000. This makes it difficult for the every day new investor to start. With Wealthsimple Trade, one doesn’t need to already be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Have Registered Accounts?
They do. Wealthsimple Trade has available both CRA registered and non-registered accounts. One are able to choose both RRSP and TFSA accounts in the setup phase.
Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a well designed mobile app available on iOS and also Google Play. The app makes the enrollment phase and trading of stocks and ETFs painless.
But Is Wealthsimple Trade Trustworthy?
Definitely. Wealthsimple Trade is legit. Wealthsimple boasts more than 15 billion CAD in Assets Under Management . This company has been doing business for more than 7 years and at this time employs more than 600 people. The majority shareholder is the respected public Canadian entity Power Corp of Canada. Weapthsimple Trade is the very first no-fee online brokerage to operate in Canada.
How Do I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so easy to fund an account. Simply connect the app to a chequing or savings account with your Trade account, then fund your account in only a couple of clicks. Deposits from financial institutions to Wealthsimple typically take just a couple of days. Funds can also be moved to your chequing or savings accounts by using the same steps.
What Other Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is equivalent to Interac e-Transfers which allow you to quickly and easily transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for tax season and file your tax return online free. It’s pitched as simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings product which allows one to earn 1% cashback on all your spending, and also earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform that offers a ton of different courses on topics like saving, investments, crypto, real estate and more.
Every one of the listed features, including Wealthsimple Trade may be accessed on the mobile app or on their site with a single login.
How do I Get Started Using Wealthsimple Trade?
Click here to signup for a new Wealthsimple Trade account. For a special signup bonus to our audience you will receive the cash value of a random Canadian stock valued at $25 up to $4,500 CAD when you add funds to your account.
But What if I Still Have Additional Questions Related to Youtube Wealthsimple?
If this article didn’t answered all of your questions, and you’re still browsing for additional specific facts relating to Youtube Wealthsimple, visit the Wealthsimple site to find answers to all your questions.