What is Wealthsimple?
Wealthsimple is an easy to use Canadian digital investing, stock plus crypto trading web app that differentiates itself from similar apps by charging absolutely no fees.
A Toronto, Ontario based online financial services business launched in the Autumn 2014 exclusively as a robo-advisor trading app called Wealthsimple Invest, it has improved significantly over the previous 8 years to also feature Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets Canadian consumers to trade stand alone stocks and also ETFs without having to pay fees. The exception is when you’re trading securities that are denominated in USD. In which case, they do charge a small currency conversion fee when buying and selling. However, gone are the times of paying Upwards of $7 for each trade with online discount brokerages as was the norm only a couple years ago.
Exactly How Much Money do I Need in Order to Start With Wealthsimple Trade?
Wealthsimple is special in that they allow new customers to make a minimum deposit of just $1. Many alternative banks and discount brokerages have quite large initial deposit amounts of 1k-5K. This makes it impossible for the normal investor to start investing. With Wealthsimple Trade, you won’t need to be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Have Registered Accounts?
It does. Wealthsimple Trade offers both CRA registered and non-CRA-registered account types. One are free to choose both RRSP and TFSA account types during the setup phase.
Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a easy to use mobile app offered on both IOS and Android. The app makes the signup phase and trading of stocks and ETFs incredibly easy.
Is Wealthsimple Trade Trustworthy?
. Wealthsimple Trade is safe. Wealthsimple has more than 15 billion CAD of Assets Under Management (AUM). This company has been expanding for more than 7 years and also at this time employs more than 600 folks. The controlling shareholder is the large publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade was the first no-fees online brokerage operating in Canada.
How Do I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly straight forward to deposit to a new account. Simply connect the app to a chequing or savings account to your Trade account, then fund your account in simply a few clicks. Deposits from your bank to Wealthsimple typically take only a few days. Funds can just as easily be moved back to a chequing or savings account by the same method.
What Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to E-Transfers which allows you to quickly and easily transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for this tax year and submit your taxes online for free. It’s advertised to be simple, accurate and always totally free income tax filing.
Wealthsimple Spend – A combination pre paid visa and savings product that lets you to recieve 1% cashback on your purchases, as well as earn a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform that includes a bunch of different online courses on different topics such as saving, investments, crypto, real estate and more.
Each of the above products, along with Wealthsimple Trade can be found inside the app and at the site with one login.
But How Should I Get Started Using Wealthsimple Trade?
Click here to setup your Wealthsimple Trade account. For a special signup bonus offer for our audience you will receive the cash value of a share valued at up to $4,500 CAD once you fund your account.
But What if I Still Have Additional Questions Related to Can Wealthsimple Be Hacked?
If this review hasn’t answered each of your questions, and you’re still searching for more information relating to Can Wealthsimple Be Hacked, go to the Wealthsimple site to find answers to each your questions.