What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian web based investing, stocks plus crypto trading platform that distinguishes itself from similar apps by charging no fees.
A leading Canadian online financial services business launched in the Autumn of 2014 exclusively as a robo-advisor algorithmic automated trading platform named Wealthsimple Invest, it has grown substantially over the last eight years to also feature Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets investors trade both individual stocks and also ETFs without paying any fees. The exception is when trading stocks and ETFs that are denominated in USD currency. In that case, they charge a currency conversion fee both when buying and selling. But, past us are the days of having to pay $7-12 per each trade with discount brokerages as was normal only a couple years past.
Exactly How Much Cash Will I Need in Order to Begin Investing on Wealthsimple Trade?
Wealthsimple is awesome such that they will allow new customers to make a minimum deposit of only $1. Most traditional banks and brokerages have large initial deposit amounts of $1,000-5K. This makes it impossible for the every day new investor to start investing. With Wealthsimple Trade, you don’t need to already be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Have Registered Accounts?
They do. Wealthsimple Trade has CRA registered and non-CRA-registered account types. You can select between both RRSP and TFSA accounts during the setup process.
But Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a well designed mobile app that is available on both Apple and Android. The smartphone app makes the signup steps and also the trading of stocks and ETFs painless.
But Is Wealthsimple Trade Legit?
Of course. Wealthsimple Trade is trustworthy. Wealthsimple reports over 15 billion CAD of Assets Under Management . These folks have been in business for more than 7 years and also at this time employs over 600 Canadians. The controlling shareholder is the large publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the first no-fee online brokerage to operate in Canada.
How Can I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly straight forward to add money to a new account. Just connect to a chequing or savings account to your Trade account, and add money to your account in simply a few clicks. Deposits from banks to Wealthsimple usually take a few days. Funds can the same way can be moved back to a chequing or savings account by using the same method.
What Other Benefits and Products Are Available?
Wealthsimple Cash – An equivalent to Interac E-Transfers that allows anyone to quickly and efficiently send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for tax season and file your taxes online free. It’s pitched as simple, accurate and always free tax return filing.
Wealthsimple Spend – A combination pre paid debit card and savings account which lets one to get 1% cashback on your purchases, as well as earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which includes a variety of different courses on saving, investing, crypto, home buying and more.
Each of the mentioned products, along with Wealthsimple Trade may be accessed inside the app and at their site with one login.
So How Should I Get Started Using Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. As a special signup bonus to our audience you’ll receive the cash value of a random Canadian stock valued at up to $4,500 Canadian as soon as you make an initial deposit to your account.
But What if I Still Have Questions About $40 Crypto Wealthsimple?
If this blog post didn’t answered each of your questions, and you’re browsing for more specific info relating to $40 Crypto Wealthsimple, visit the Wealthsimple site to get answers to all your questions.