What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital Financial, securities and crypto trading platform that differentiates itself from other apps by charging no fees.
A Toronto, Ontario based online financial services company launched in the Autumn of twenty fourteen originally as a robo advisor algorithmic automated trading platform called Wealthsimple Invest, it has changed significantly over the past eight years to also include Wealthsimple Trade, a zero fees discount brokerage service.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows investors to trade stand alone stocks and ETFs without paying any fees. The exception is when trading securities which are displayed in USD currency. In that case, they charge a currency conversion fee both when buying and selling. But, past us are the times of having to pay $7-12 per trade with online discount brokerages as was common a couple years past.
How Much Money do I Need in Order to Start Investing With Wealthsimple Trade?
Wealthsimple is unique such that they allow investors to make a minimum deposit of just $1. Most traditional banks and discount brokerages have sizeable initial deposit amounts of $1000-$5000. This makes it difficult for the common new investor to get started. With Wealthsimple Trade, you don’t need to be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Have TFSA Accounts?
It does. Wealthsimple Trade has CRA registered and non-registered account types. One can choose both RRSP and TFSA account types during the setup process.
Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a modern mobile app available on iOS and Android. The mobile app makes the enrollment process and the trading of stocks and ETFs truly painless.
So Is Wealthsimple Trade Secure?
Yes. Wealthsimple Trade is legit. Wealthsimple reports over 15 billion CAD of Assets Under Management (AUM). These folks have been doing business for more than 7 years and at this time employs about 600 folks. The main owner is the respected publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade was the very first no-fees digital discount brokerage operating in Canada.
So How Does One Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very easy to fund an account. Simply connect the app to a chequing or savings account to your Trade account, and add money to your account in simply a few steps. Deposits from banks to Wealthsimple usually take only a few days. Funds can the same way can be moved back to a chequing or savings accounts using the exact same method.
Which Additional Benefits and Products Are Available?
Wealthsimple Cash – An equivalent to Interac E-transfers that allows one to quickly and easily send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for tax year and file your tax return online free. It’s pitched to be easy, accurate and always free tax filing.
Wealthsimple Spend – A combination pre paid visa and savings product that allows one to earn 1% cashback on your spending, and also earn a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform which offers a variety of courses on topics like saving, investments, crypto, home buying and much more.
All of the above products, along with Wealthsimple Trade may be accessed within the mobile app and from their website with your Wealthsimple login.
But How Can I Begin With Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. As a special signup bonus offer for our readers you will receive the cash value of a random Canadian stock worth $25 up to $4,500 CAD as soon as you make an initial deposit to your account.
What if I Still Have Additional Questions About S&p 500 Wealthsimple?
If this article hasn’t given you the answers to all of your questions, and you’re searching for more answers about Transfer From Wealthsimple To Wealthsimple Trade, check out the Wealthsimple site to find answers to each your questions.