What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian digital investing, securities and crypto trading app that differentiates itself from the competition by charging no fees.
A Toronto, Ontario based fintech business launched in Autumn 2014 exclusively as a robo-advisor trading platform called Wealthsimple Invest, it has improved considerably over the past eight years to also feature Wealthsimple Trade, a zero fee discount brokerage app.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows investors to trade individual stocks and ETFs without needing to pay any commissions. The exception to this is when trading ETFs and stocks that are displayed in USD. In that case, they charge a small currency conversion fee when buying and selling. However, behind us are the days of paying more than $7 for each trade with discount brokerages as was common a couple years ago.
How Much in Funds Will I Need to Have in Order to Start Investing With Wealthsimple Trade?
Wealthsimple is unique in that they will allow investors to make a minimum deposit of only $1. Most traditional banks and discount brokerages have quite large minimum deposit amounts of 1K-$5000. This makes it hard for the every day new investor to start investing. With Wealthsimple Trade, you won’t need to be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Have TFSA Accounts?
Yes. Wealthsimple Trade has available both registered and non-registered accounts. You may select both RRSP and TFSA account types in the setup phase.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a modern mobile app available to download on both iOS and also Android. The app makes the enrollment process and the trading of stocks and ETFs super painless.
Is Wealthsimple Trade Legit?
Yes. Wealthsimple Trade is trustworthy. Wealthsimple reports over 15 billion CAD in Assets Under Management . they’ve been expanding for more than 7 years and now employs more than 600 people. The primary owner is the admired public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the first no-fees digital brokerage operating in Canada.
But How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite straight forward to add funds to your new account. Just connect to a chequing or savings account to your Trade account, and add funds to your account in just a few clicks. Deposits from banks to Wealthsimple usually take only a few days. Funds can the same way can be moved back to your chequing or savings accounts by the same process.
Which Other Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An alternative to e-transfers which allows anyone to quickly and efficiently transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for this tax season and submit your tax return online for free. It’s advertised as simple, accurate and always totally free tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings product that lets you to earn 1% cashback on all your everyday spending, as well as earn a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that includes a ton of online courses on different topics such as saving, investing, crypto, real estate and more.
All of the mentioned products, along with Wealthsimple Trade can be found in the app or from their site with a single login.
So How do I Begin With Wealthsimple Trade?
Click here to signup for a Wealthsimple Trade account. For an exclusive signup bonus offer for our audience you will receive the equivalent cash value of a random Canadian stock valued at $25 up to $4,500 Canadian as soon as you make an initial deposit to your account.
What if I Still Have Additional Questions Related to Joint Rrsp Wealthsimple?
If this article didn’t answered each of your questions, and you’re searching for further facts about Available To Withdraw Wealthsimple Trade, visit the Wealthsimple site to get answers to every one of your questions.