What is Wealthsimple?
Wealthsimple is a simple to use Canadian web based investing, stocks and crypto trading web app that distinguishes itself from similar apps by charging no fees.
A online financial services business founded in the Fall twenty fourteen exclusively as a robo-advisor algorithmic automated trading app named Wealthsimple Invest, it has improved considerably over the last eight years to feature Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets investors to trade both stand alone stocks and also ETFs without needing to pay fees. The exception is when you’re trading ETFs and stocks that are displayed in US Dollars. In which case, they do charge a nominal currency conversion fee when buying and selling. But, gone are the times of having to pay $7-12 per trade with online discount brokerages as was common just a few years ago.
How Much Money Will I Need in Order to Start Investing With Wealthsimple Trade?
Wealthsimple is special in that they allow Canadian investors to make a minimum deposit of only $1. Most alternative banks and brokerages have sizeable initial deposit amounts of 1K-$5000. This makes it hard for the normal new investor to start. With Wealthsimple Trade, you won’t have to be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Have Registered Accounts?
They do. Wealthsimple Trade has both CRA registered and non-CRA-registered account types. You are free to choose between both RRSP and TFSA accounts during the setup phase.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a modern mobile app available on IOS and Google Play. The smartphone app makes the enrollment phase and the trading of stocks and ETFs super simple.
Is Wealthsimple Trade Trustworthy?
Definitely. Wealthsimple Trade is legit. Wealthsimple has more than 15 billion CAD of Assets Under Management (AUM). they’ve been operating for more than 7 years and also now employs over 600 Canadians. The majority owner is the large public Canadian corporation Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital brokerage operating in Canada.
So How Can I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly simple to add funds to your account. Simply connect to a chequing or savings account with your Trade account, and fund your account in simply a few clicks. Deposits from banks to Wealthsimple normally take just a few days. Funds can just as easily be moved back to your chequing or savings account with the same process.
What Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – An alternative to Interac e-Transfers that allows you to quickly and simply send cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for tax season and file your tax return online free. It’s pitched to be simple, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings account which allows one to earn 1% cashback on your spending, as well as get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform which includes a variety of courses on topics like saving, investing, crypto, mortgages and much more.
Every one of the listed products, along with Wealthsimple Trade can be accessed in the app and from their website with your Wealthsimple login.
So How Can I Start Using Wealthsimple Trade?
Click here to register for a new Wealthsimple Trade account. For an exclusive registration bonus offer to our readers you will get the cash value of a random Canadian stock valued at $25 up to $4,500 CAD when you make an initial deposit to your account.
What if I Still Have Questions Related to Joint Account Wealthsimple?
If this article hasn’t answered all of your questions, and you’re still looking for additional info about Add Wealthsimple Trade To Mint, check out the Wealthsimple site for answers to each your questions.