What is Wealthsimple?
Wealthsimple is an easy to use Canadian online investing, securities and crypto trading app that differentiates itself from other apps by charging no fees.
A leading Canadian online financial services business launched in Autumn 2014 exclusively as a robo-advisor automated trading app named Wealthsimple Invest, it has grown considerably over the previous eight years to feature Wealthsimple Trade, a no fee discount brokerage platform.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows consumers to trade single stocks and ETFs without having to pay any fees. The exception to this is when trading stocks which are displayed in US Dollars. In that case, they charge a currency conversion fee when buying and selling. But, past us are the times of having to pay $7-12 per trade with digital discount brokerages as was the case a few years past.
How Much Money do I Need to Have to Begin Investing on Wealthsimple Trade?
Wealthsimple is awesome in that they allow Canadian investors to make a minimum deposit of only $1. Many alternative banks and discount brokerages have large min deposit amounts of $1000-$5,000. This makes it difficult for the everyday investor to get started. With Wealthsimple Trade, you don’t have to already be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Offer Registered Accounts?
It does. Wealthsimple Trade has both registered and non-CRA-registered accounts. You are free to choose between both RRSP and TFSA account types during the setup phase.
But Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a easy to use mobile app that is available to download on both IOS and also Android. The app makes the registration process and also trading of stocks and ETFs truly a breeze.
So Is Wealthsimple Trade Legit?
Most definitely. Wealthsimple Trade is trustworthy. Wealthsimple has more than 15 billion CAD of Assets Under Management . These folks have been operating for more than 7 years and also now employs roughly 600 Canadians. The primary shareholder is the respected public Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fees digital brokerage to operate in Canada.
So How Do I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite simple to add money to a new account. Simply connect a chequing or savings account to your Trade account, then add money to your account in only a few steps. Deposits from financial institutions to Wealthsimple normally take a couple of days. Funds can just as easily be moved to your chequing or savings account through the exact same process.
Which Additional Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An equivalent to e-transfers that allow anyone to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for this tax year and file your taxes online free. It’s advertised as simple, accurate and always totally free tax filing.
Wealthsimple Spend – A combination pre paid debit card and savings account that lets you to earn 1% cashback on your everyday purchases, and also get a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that offers a ton of different online courses on topics like saving, investing, crypto, home buying and more.
All of the listed features, along with Wealthsimple Trade may be accessed in the app and on their website with one login.
But How do I Get Started Using Wealthsimple Trade?
Click here to setup a new Wealthsimple Trade account. As an exclusive registration bonus offer for our audience you’ll get the cash value of a share worth $25 up to $4,500 CAD as soon as you make an initial deposit to your account.
So What if I Still Have Questions Related to Wealthsimple $50 Bonus?
If this article still hasn’t answered each of your questions, and you’re looking for more specific information relating to Using Wealthsimple Trade, visit the Wealthsimple site to get answers to each your questions.