What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital Financial, stocks plus crypto trading web app that differentiates itself from similar apps by charging no fees.
A Toronto, Ontario based fintech business founded in the Fall 2014 exclusively as a robo-advisor algorithmic trading platform named Wealthsimple Invest, it has improved substantially over the past 8 years to include Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets investors trade both stand alone stocks and ETFs without having to pay commissions. The exception to this is when you’re trading ETFs and stocks which are listed in USD. In that case, they will charge a currency conversion fee when buying and selling. But, gone are the days of having to pay more than $7 per each trade with discount brokerages as was the case only a few years ago.
Exactly How Much in Funds do I Need to Have in Order to Start Investing on Wealthsimple Trade?
Wealthsimple is special in that they will allow new customers to make a minimum deposit of only $1. The majority of traditional banks and brokerages have quite large initial deposit amounts of 1K-$5000. This makes it hard for the common new investor to get started. With Wealthsimple Trade, you won’t need to be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Offer TFSA Accounts?
Yes. Wealthsimple Trade has available registered and non-CRA-registered accounts. One may choose both RRSP and TFSA account types in the setup process.
But Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a well designed mobile app available to download on both IOS and also Android. The app makes the signup process and the trading of stocks and ETFs truly easy.
So Is Wealthsimple Trade Safe?
. Wealthsimple Trade is safe. Wealthsimple reports more than 15 billion Canadian in Assets Under Management . This company has been doing business for more than 7 years and now employs over 600 Canadians. The primary shareholder is the public Canadian corporation Power Corp of Canada. Weapthsimple Trade is the first no-fees online discount brokerage to operate in Canada.
So How Does One Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it easy to deposit to a new account. Just connect the app to a chequing or savings account with your Trade account, then add funds to your account in just a few clicks. Deposits from financial institutions to Wealthsimple usually take just a couple of days. Funds can the same way can be moved back to a chequing or savings accounts using the exact same process.
Which Other Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – An alternative to Interac e-transfers that allow one to quickly and easily send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for this tax season and file your taxes online for free. It’s described to be easy, accurate and always totally free tax filing.
Wealthsimple Spend – A combination pre paid visa and savings account that lets you to earn 1% cashback on all your spending, and also earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which includes a ton of different courses on topics like saving, investments, crypto, home buying and more.
Every one of the mentioned features, including Wealthsimple Trade can be accessed within the app and on their site with one login.
How Should I Begin Using Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. For an exclusive registration bonus to our audience you’ll get the cash value of a random share worth up to $4,500 CAD when you make an initial deposit to your account.
What if I Still Have Additional Questions About Wealthsimple 10 000 Free?
If this blog post still hasn’t answered all of your questions, and you’re still searching for more facts about How Much Does Wealthsimple Charge Per Trade, go to the Wealthsimple site to find answers to all your questions.