What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online Financial, securities plus crypto trading platform that sets itself apart from other apps by charging no fees.
A fintech company founded in Autumn 2014 originally as a robo-advisor automated trading platform called Wealthsimple Invest, it has improved significantly over the previous 8 years to include Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets investors to trade both individual stocks and also ETFs without needing to pay commissions. The exception to this is when you’re trading securities which are displayed in USD currency. In this case, they charge a currency conversion fee when buying and selling. However, behind us are the days of having to pay Upwards of $7 per each trade with digital discount brokerages as was the case a couple years past.
Exactly How Much Money do I Need in Order to Get Started on Wealthsimple Trade?
Wealthsimple is cool in that they allow Canadians to make a minimum deposit of only $1. The majority of alternative banks and brokerages have quite large minimum deposit amounts of 1k-$5,000. This makes it impossible for the typical new investor to start. With Wealthsimple Trade, one doesn’t have to be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Offer Registered Accounts?
Yes. Wealthsimple Trade offers both CRA registered and non-registered accounts. One are free to select between both RRSP and TFSA account types during the setup process.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a well designed mobile app available on Apple and also Android. The mobile app makes the enrollment process and trading of stocks and ETFs truly simple.
Is Wealthsimple Trade Secure?
For sure. Wealthsimple Trade is trustworthy. Wealthsimple boasts more than 15 billion Canadian of Assets Under Management . This company has been expanding for more than 7 years and also employs over 600 people. The majority owner is the respected public Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fees digital discount brokerage operating in Canada.
How Does One Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so straight forward to fund your new account. Just connect the app to a chequing or savings account to your Trade account, and then fund your account in just a couple of clicks. Deposits from banks to Wealthsimple usually take a few days. Funds can just as easily be moved back to a chequing or savings accounts using the same steps.
What Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An alternative to Interac E-transfers that allow one to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for tax year and file your taxes online for free. It’s described as easy, accurate and always free tax filing.
Wealthsimple Spend – A combination prepaid debit card and savings account that allows one to earn 1% cashback on all your everyday spending, and also get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform which includes a ton of different courses on saving, investments, crypto, home buying and much more.
All of the mentioned products, including Wealthsimple Trade can be accessed in the mobile app and on their site with a single login.
How do I Start With Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. For an exclusive registration bonus to our readers you will receive the cash value of a random stock worth up to $4,500 Canadian when you make an initial deposit to your account.
But What if I Still Have Additional Questions About Wealthsimple 0 Available To Withdraw?
If this blog post hasn’t given you the answers to each of your questions, and you’re searching for more specific information relating to Personal Wealthsimple Trade Account, check out the Wealthsimple website to get answers to each your questions.