What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital Financial, securities plus crypto trading app that differentiates itself from other apps by charging absolutely no fees.
A Toronto, Ontario based online financial services company launched in Fall twenty fourteen originally as a robo advisor algorithmic automated trading platform named Wealthsimple Invest, it has improved considerably over the last 8 years to also feature Wealthsimple Trade, a no fee discount brokerage platform.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets Canadian investors to trade both stand alone stocks and also ETFs without paying commissions. The exception to this is when you’re trading securities that are displayed in USD currency. In that case, they charge a nominal currency conversion fee both when buying and selling. However, past us are the days of paying more than $7 per each trade with digital discount brokerages as was common just a couple years ago.
How Much Cash Will I Need to Start Investing on Wealthsimple Trade?
Wealthsimple is awesome such that they will allow Canadian investors to make a minimum deposit of just $1. Most traditional banks and discount brokerages have large min deposit amounts of 1k-5k. This makes it difficult for the typical new investor to start. With Wealthsimple Trade, you don’t need to already be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Have TFSA Accounts?
It does. Wealthsimple Trade has both registered and non-CRA-registered accounts. You are able to choose both RRSP and TFSA account types in the setup process.
So Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a easy to use mobile app that is available on Apple and Android. The mobile app makes the signup process and also trading of stocks and ETFs incredibly easy.
But Is Wealthsimple Trade Trustworthy?
Yes. Wealthsimple Trade is secure. Wealthsimple has more than 15 billion Canadian of Assets Under Management . they’ve been expanding for more than 7 years and also now employs about 600 folks. The main owner is the admired public Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fees online discount brokerage operating in Canada.
But How Does One Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite easy to add money to your account. Simply connect to a chequing or savings account to your Trade account, then add money to your account in simply a few steps. Deposits from your bank to Wealthsimple normally take just a few days. Funds can just as easily be moved back to your chequing or savings accounts by the same method.
Which Additional Features and Products Are Available?
Wealthsimple Cash – This is equivalent to Interac e-transfers that allow you to quickly and simply send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for this tax year and submit your tax return online free. It’s pitched as simple, accurate and always free tax filing.
Wealthsimple Spend – A combination prepaid visa and savings product that allows you to recieve 1% cashback on all your spending, and also get a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform which includes a ton of different online courses on topics like saving, investments, crypto, home buying and more.
Each of the listed features, along with Wealthsimple Trade may be accessed within the mobile app and on their site with your Wealthsimple login.
How do I Get Started With Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. As a special signup bonus offer to our readers you’ll get the equivalent cash value of a share worth up to $4,500 Canadian when you add funds to your account.
So What if I Still Have Additional Questions Concerning Wealthsimple Managed Investing?
If this review hasn’t answered each of your questions, and you’re looking for more info about Can You Buy Bonds On Wealthsimple Trade, check out the Wealthsimple website to find answers to each your questions.