What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian web based Financial, stock plus crypto trading platform that distinguishes itself from other apps by charging absolutely no fees.
A leading Canadian fintech business launched in the Fall of 2014 originally as a robo-advisor trading app named Wealthsimple Invest, it has evolved considerably over the past 8 years to also include Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets consumers to trade both single stocks and ETFs without needing to pay commissions. The exception to this is when you’re trading securities which are denominated in USD. In which case, they charge a nominal currency conversion fee when buying and selling. But, behind us are the days of having to pay Upwards of $7 per trade with digital discount brokerages as was expected just a few years ago.
Exactly How Much Money Will I Need in Order to Start With Wealthsimple Trade?
Wealthsimple is unique such that they allow Canadians to make a minimum deposit of only $1. Most traditional banks and discount brokerages have sizeable initial deposit amounts of 1k-5k. This makes it impossible for the typical new investor to get started. With Wealthsimple Trade, you won’t have to be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Offer Registered Accounts?
It does. Wealthsimple Trade has CRA registered and non-CRA-registered account types. You are able to select between both RRSP and TFSA accounts in the setup process.
But Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a well designed mobile app that is available to download on Apple and also Google Play. The smartphone app makes the enrollment steps and also the trading of stocks and ETFs super easy.
Is Wealthsimple Trade Secure?
Of course. Wealthsimple Trade is legit. Wealthsimple boasts over 15 billion CAD of Assets Under Management . These folks have been operating for more than 7 years and currently employs about 600 Canadians. The controlling owner is the large publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital brokerage operating in Canada.
But How Can I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite simple to fund your account. Simply connect a chequing or savings account to your Trade account, and then add funds to your account in only a few clicks. Deposits from financial institutions to Wealthsimple typically take only a couple of days. Funds can the same way can be moved back to your chequing or savings accounts with the same steps.
What Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to e-transfers which allows you 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 described to be easy, accurate and always totally free tax filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings product that lets you to get 1% cashback on your everyday purchases, as well as get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which offers a ton of courses on topics like saving, investing, crypto, mortgages and much more.
Every one of the mentioned products, including Wealthsimple Trade may be accessed inside the app and on their website with one login.
But How do I Get Started Using Wealthsimple Trade?
Click here to signup for a new Wealthsimple Trade account. As an exclusive signup bonus for our readers you will receive the cash value of a Canadian stock worth up to $4,500 CAD once you add funds to your account.
But What if I Still Have Additional Questions Related to 2 Free Stocks Wealthsimple?
If this blog post still hasn’t given you the answers to all of your questions, and you’re searching for more specific info about 2 Free Stocks Wealthsimple, check out the Wealthsimple site to get answers to all your questions.