What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian digital investing, stock plus crypto trading web app that sets itself apart from its competitors by charging no fees.
A Toronto, Ontario based online financial services business launched in Fall twenty fourteen originally as a robo advisor algorithmic trading platform called Wealthsimple Invest, it has evolved significantly over the last 8 years to feature Wealthsimple Trade, a no fee discount brokerage app.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets consumers trade both stand alone stocks and ETFs without having to pay commissions. The exception to this is when you’re trading stocks that are displayed in US Dollars. In which case, they charge a small currency conversion fee when buying and selling. However, past us are the times of having to pay $7-12 per trade with discount brokerages as was expected a couple years ago.
How Much Cash Will I Need to Start With Wealthsimple Trade?
Wealthsimple is awesome such that they allow Canadians to make a minimum deposit of just $1. The majority of alternative banks and discount brokerages have quite large min deposit amounts of 1k-$5,000. This makes it difficult for the typical new investor to get started. With Wealthsimple Trade, you don’t have to be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Offer Registered Accounts?
Of course. Wealthsimple Trade has available both registered and non-CRA-registered account types. One can choose both RRSP and TFSA account types during the setup process.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a modern mobile app offered to download on both iOS and also Android. The mobile app makes the signup phase and trading of stocks and ETFs truly simple.
Is Wealthsimple Trade Secure?
Yes. Wealthsimple Trade is safe. Wealthsimple reports more than 15 billion CAD of Assets Under Management (AUM). These folks have been in business for more than 7 years and employs over 600 folks. The majority owner is the respected public Canadian company Power Corp of Canada. Weapthsimple Trade was the first no-fees digital brokerage to operate in Canada.
So How Do I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so simple to add money to your account. Just connect a chequing or savings account to your Trade account, and add funds to your account in just a few steps. Deposits from your bank to Wealthsimple usually take a few days. Funds can the same way can be moved back to a chequing or savings account by the same steps.
Which Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is equivalent to Interac E-Transfers that allow anyone to quickly and simply transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for tax season and file your tax return online free. It’s described to be easy, accurate and always totally free income tax filing.
Wealthsimple Spend – A hybrid prepaid visa and savings account that lets you to earn 1% cashback on all your everyday spending, as well as earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform that offers a variety of courses on saving, investing, crypto, real estate and more.
Every one of the mentioned products, including Wealthsimple Trade may be found in the app or on their website with one login.
So How Should I Get Started Using Wealthsimple Trade?
Click here to setup a new Wealthsimple Trade account. For an exclusive registration bonus to our readers you will get the equivalent cash value of a stock valued at up to $4,500 CAD as soon as you make an initial deposit to your account.
But What if I Still Have Questions Related to Jessica Oliver Wealthsimple?
If this article still hasn’t given you the answers to each of your questions, and you’re browsing for more information relating to Automate Wealthsimple Trade, go to the Wealthsimple website for answers to every one of your questions.