What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital Financial, securities plus crypto trading web app that differentiates itself from its competitors by charging absolutely no fees.
A Toronto, Ontario based fintech business launched in Autumn of 2014 originally as a robo-advisor trading platform called Wealthsimple Invest, it has changed substantially over the previous 8 years to include Wealthsimple Trade, a no fees discount brokerage app.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows Canadian investors to trade both individual stocks and also ETFs without needing to pay fees. The exception to this is when you’re trading stocks that are listed in US Dollars. In this case, they charge a nominal currency conversion fee both when buying and selling. However, behind us are the days of having to pay Upwards of $7 per trade with digital discount brokerages as was the case a few years past.
How Much in Funds do I Need to Get Started on Wealthsimple Trade?
Wealthsimple is cool such that they will allow Canadians to make a minimum deposit of only $1. Most alternative banks and brokerages have sizeable initial deposit amounts of $1000-5K. This makes it hard for the typical investor to start investing. With Wealthsimple Trade, one doesn’t have to already be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Offer TFSA Accounts?
They do. Wealthsimple Trade has registered and non-registered account types. You are free to choose between both RRSP and TFSA account types during the setup process.
But Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a well designed mobile app available to download on Apple and also Google Play. The smartphone app makes the signup phase and also the trading of stocks and ETFs painless.
Is Wealthsimple Trade Secure?
Yes. Wealthsimple Trade is trustworthy. Wealthsimple reports over 15 billion Canadian in Assets Under Management (AUM). This company has been operating for more than 7 years and employs roughly 600 Canadians. The controlling owner is the large publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fees digital discount brokerage to operate in Canada.
How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly easy to deposit to your account. Simply connect to a chequing or savings account to your Trade account, then fund your account in simply a few clicks. Deposits from banks to Wealthsimple typically take just a few days. Funds can also be withdrawn your chequing or savings accounts with the exact same process.
Which Additional Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An equivalent to e-transfers that allow you to quickly and efficiently transfer cash 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 free. It’s pitched to be simple, accurate and always free tax filing.
Wealthsimple Spend – A combination prepaid debit card and savings account that lets one to recieve 1% cashback on your everyday spending, as well as earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that includes a ton of different courses on saving, investing, crypto, mortgages and more.
All of the listed products, along with Wealthsimple Trade can be accessed inside the mobile app and at the website with your Wealthsimple login.
So How Can I Begin With Wealthsimple Trade?
Click here to setup a new Wealthsimple Trade account. As an exclusive registration bonus offer to our audience you will get the equivalent cash value of a Canadian stock valued at $25 up to $4,500 Canadian once you fund your account.
But What if I Still Have Additional Questions About Wealthsimple Save Interest Rate?
If this review still hasn’t answered each of your questions, and you’re still browsing for more specific facts relating to Fees On Wealthsimple Trade, go to the Wealthsimple site to get answers to every one of your questions.