What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online investing, securities and crypto trading web app that distinguishes itself from the competition by charging absolutely no fees.
A online financial services business launched in the Autumn twenty fourteen originally as a robo-advisor trading platform named Wealthsimple Invest, it has evolved considerably over the last eight years to also feature Wealthsimple Trade, a no fee discount brokerage app.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows consumers trade stand alone stocks and also ETFs without paying any commissions. The exception to this is when trading securities which are displayed in USD. In this case, they do charge a small currency conversion fee both when buying and selling. But, gone are the days of having to pay $7-12 per each trade with discount brokerages as was common a few years ago.
How Much Money do I Need to Have to Start Investing on Wealthsimple Trade?
Wealthsimple is awesome such that they allow Canadians to make a minimum deposit of only $1. Most traditional banks and brokerages have quite large min deposit amounts of 1k-$5000. This makes it impossible for the common new investor to start. With Wealthsimple Trade, one doesn’t have to already be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Offer Registered Accounts?
Yes. Wealthsimple Trade has both CRA registered and non-CRA-registered account types. One can select between both RRSP and TFSA accounts during the setup phase.
So Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a well designed mobile app offered to download on both Apple and Android. The app makes the registration phase and trading of stocks and ETFs truly painless.
So Is Wealthsimple Trade Safe?
Of course. Wealthsimple Trade is trustworthy. Wealthsimple reports more than 15 billion CAD of Assets Under Management (AUM). they’ve been in business for more than 7 years and also employs over 600 Canadians. The controlling shareholder is the admired publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fee online brokerage to operate in Canada.
So How Does One Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly straight forward to deposit to an account. Just connect to a chequing or savings account to your Trade account, then add funds to your account in just a couple of clicks. Deposits from your bank to Wealthsimple usually take just a couple of days. Funds can just as easily be moved back to a chequing or savings accounts by using the exact same process.
Which Other Benefits and Products Are Available?
Wealthsimple Cash – This is equivalent to Interac e-Transfers that allow you to quickly and efficiently send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for this tax season and submit your tax return online free. It’s described as easy, accurate and always free tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings product that lets one to recieve 1% cashback on all your everyday purchases, and also get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform which offers a ton of different courses on different topics such as saving, investing, crypto, mortgages and more.
All of the above features, including Wealthsimple Trade can be accessed within the mobile app or from the website with one login.
So How Can I Get Started With Wealthsimple Trade?
Click here to setup your Wealthsimple Trade account. As a special registration bonus offer to our audience you’ll receive the cash value of a stock worth up to $4,500 Canadian when you add funds to your account.
What if I Still Have Additional Questions About Krista Duncan Wealthsimple?
If this blog post didn’t given you the answers to each of your questions, and you’re still searching for additional answers about Best Stocks To Buy On Wealthsimple Trade, visit the Wealthsimple website for answers to all your questions.