What is Wealthsimple?
Wealthsimple is a simple to use Canadian web based investing, securities and crypto trading app that distinguishes itself from the competition by charging absolutely no fees.
A Toronto, Ontario based fintech company launched in Fall of 2014 exclusively as a robo-advisor automated trading app called Wealthsimple Invest, it has evolved significantly over the past eight years to also feature Wealthsimple Trade, a no fees discount brokerage app.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade allows Canadian investors to trade both single stocks and also ETFs without paying commissions. The exception to this is when you’re trading ETFs and stocks which are displayed in USD. In this case, they do charge a small currency conversion fee when buying and selling. However, behind us are the days of having to pay more than $7 per trade with discount brokerages as was normal just a few years ago.
How Much Money Will I Need to Get Started on Wealthsimple Trade?
Wealthsimple is special in that they allow new customers to make a minimum deposit of only $1. The majority of alternative banks and discount brokerages have sizeable minimum deposit amounts of 1K-$5000. This makes it hard for the every day new investor to start investing. With Wealthsimple Trade, you won’t have to already be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Offer RRSP Accounts?
They do. Wealthsimple Trade has registered and non-CRA-registered accounts. You can select both RRSP and TFSA account types in the setup phase.
So Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a convenient mobile app available on both iOS and also Google Play. The app makes the enrollment phase and the trading of stocks and ETFs super painless.
But Is Wealthsimple Trade Safe?
Most definitely. Wealthsimple Trade is secure. Wealthsimple has more than 15 billion Canadian in Assets Under Management . they’ve been doing business for more than 7 years and currently employs over 600 folks. The primary owner is the admired publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fees digital brokerage to operate in Canada.
So How Can I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite easy to deposit to an account. Simply connect the app to a chequing or savings account to your Trade account, and then add funds to your account in simply a couple of steps. Deposits from banks to Wealthsimple normally take only a few days. Funds can the same way can be withdrawn a chequing or savings account through the same steps.
Which Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to E-transfers which allow anyone to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for tax year and file your taxes online free. It’s described to be simple, accurate and always totally free income tax filing.
Wealthsimple Spend – A hybrid prepaid visa and savings product which allows you to recieve 1% cashback on all your everyday spending, and also earn a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform that includes a ton of online courses on different topics such as saving, investing, crypto, home buying and much more.
All of the listed products, including Wealthsimple Trade can be found within the app or on their website with your Wealthsimple login.
So How do I Get Started Using Wealthsimple Trade?
Click here to create a Wealthsimple Trade account. For an exclusive signup bonus to our readers you will receive the cash value of a random stock valued at up to $4,500 Canadian as soon as you fund your account.
But What if I Still Have Questions Concerning 15 Minute Delay Wealthsimple Trade?
If this review still hasn’t given you the answers to all of your questions, and you’re looking for further specific facts about 15 Minute Delay Wealthsimple Trade, check out the Wealthsimple site to get answers to every one of your questions.