What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online Financial, securities and crypto trading app that sets itself apart from similar apps by charging no fees.
A online financial services company founded in the Autumn of 2014 originally as a robo-advisor trading platform called Wealthsimple Invest, it has evolved significantly over the previous eight years to feature Wealthsimple Trade, a no fees discount brokerage platform.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows Canadian consumers to trade both stand alone stocks and also ETFs without having to pay fees. The exception to this is when you’re trading stocks and ETFs which are displayed in USD currency. In this case, they do charge a nominal currency conversion fee when buying and selling. However, past us are the times of having to pay more than $7 for 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 With Wealthsimple Trade?
Wealthsimple is unique such that they will allow investors to make a minimum deposit of just $1. The majority of alternative banks and brokerages have quite large minimum deposit amounts of $1000-$5000. This makes it tough for the typical new investor to start. With Wealthsimple Trade, you don’t have to be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Have TFSA Accounts?
It does. Wealthsimple Trade has CRA registered and non-CRA-registered account types. One are able to select between both RRSP and TFSA accounts in the setup process.
Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a convenient mobile app available to download on both Apple and Google Play. The app makes the enrollment steps and also trading of stocks and ETFs truly easy.
Is Wealthsimple Trade Safe?
For sure. Wealthsimple Trade is legit. Wealthsimple reports over 15 billion CAD in Assets Under Management (AUM). This company has been in business for more than 7 years and at this time employs over 600 Canadians. The main owner is the large public Canadian corporation Power Corp of Canada. Weapthsimple Trade was the very first no-fees online discount brokerage operating in Canada.
So How Do I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very easy to add funds to your new account. Simply connect a chequing or savings account to your Trade account, then fund your account in just a couple of steps. Deposits from financial institutions to Wealthsimple normally take just a couple of days. Funds can also be withdrawn a chequing or savings accounts with the exact same method.
What Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to E-transfers that allow you to quickly and easily transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for tax year and file your taxes online for free. It’s advertised to be easy, accurate and always free tax return filing.
Wealthsimple Spend – A combination pre paid debit card and savings product which lets you to recieve 1% cashback on your spending, as well as earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that includes a bunch of courses on topics like saving, investments, crypto, mortgages and more.
All of the listed features, including Wealthsimple Trade can be found on the mobile app and on their website with your Wealthsimple login.
So How do I Begin Using Wealthsimple Trade?
Click here to create a Wealthsimple Trade account. For a special registration bonus offer to our readers you will get the equivalent cash value of a random stock worth $25 up to $4,500 CAD when you make an initial deposit to your account.
But What if I Still Have Questions Concerning Buy Bitcoin Wealthsimple?
If this review didn’t given you the answers to each of your questions, and you’re still searching for additional info relating to Buy Bitcoin Wealthsimple, go to the Wealthsimple website to get answers to all your questions.