What is Wealthsimple?
Wealthsimple is an easy to use Canadian digital Financial, stock and crypto trading platform that distinguishes itself from similar apps by charging absolutely no fees.
A leading Canadian fintech business founded in Fall of twenty fourteen exclusively as a robo-advisor algorithmic automated trading platform named Wealthsimple Invest, it has improved considerably over the past 8 years to include Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets Canadian consumers trade both individual stocks and also ETFs without having to pay commissions. The exception to this is when trading ETFs and stocks that are denominated in USD. In this case, they will charge a currency conversion fee both when buying and selling. But, past us are the times of having to pay more than $7 per trade with discount brokerages as was normal a few years past.
How Much Money do I Need to Have in Order to Start Investing With Wealthsimple Trade?
Wealthsimple is unique in that they allow investors to make a minimum deposit of only $1. Many traditional banks and discount brokerages have large min deposit amounts of $1000-5k. This makes it impossible for the everyday new investor to start. With Wealthsimple Trade, one doesn’t have to already be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Have Registered Accounts?
Yes. Wealthsimple Trade has both CRA registered and non-CRA-registered account types. One may choose between both RRSP and TFSA account types in the setup process.
But Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a well designed mobile app offered on Apple and Android. The app makes the registration process and also trading of stocks and ETFs simple.
But Is Wealthsimple Trade Legit?
Of course. Wealthsimple Trade is safe. Wealthsimple reports in excess of 15 billion Canadian in Assets Under Management (AUM). This company has been doing business for more than 7 years and employs roughly 600 Canadians. The controlling owner is the publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the first no-fees digital brokerage to operate in Canada.
So How Can I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very easy to add money to your account. Simply connect the app to a chequing or savings account to your Trade account, and add funds to your account in simply a few steps. Deposits from banks to Wealthsimple usually take a couple of days. Funds can the same way can be moved back to your chequing or savings account by the exact same method.
What Other Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is equivalent to e-transfers which allow one to quickly and efficiently transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for this tax year and file your tax return online for free. It’s pitched to be easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings account which allows one to earn 1% cashback on all your everyday purchases, as well as get a very competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that offers a ton of courses on different topics such as saving, investments, crypto, home buying and more.
Every one of the above products, including Wealthsimple Trade can be found on the mobile app and at their website with a single login.
So How do I Start Using Wealthsimple Trade?
Click here to setup your Wealthsimple Trade account. As a special signup bonus offer to our audience you will receive the cash value of a Canadian stock valued at $25 up to $4,500 CAD once you deposit to your account.
What if I Still Have Additional Questions Related to Wealthsimple Open Account?
If this article still hasn’t answered all of your questions, and you’re searching for additional specific answers about 15 Minute Delay Wealthsimple Trade, visit the Wealthsimple site to find answers to every one of your questions.