What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online investing, securities plus crypto trading platform that sets itself apart from its competitors by charging no fees.
A Toronto, Ontario based fintech business founded in the Fall of twenty fourteen originally as a robo-advisor trading app named Wealthsimple Invest, it has grown significantly over the past 8 years to also feature Wealthsimple Trade, a no fee discount brokerage app.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets Canadian consumers trade both stand alone stocks and ETFs without paying any commissions. The exception to this is when trading stocks and ETFs which are listed in US Dollars. In this case, they charge a nominal currency conversion fee when buying and selling. However, behind us are the times of paying $7-12 per each trade with digital discount brokerages as was expected only a couple years past.
Exactly How Much in Funds do I Need to Have to Begin Investing With Wealthsimple Trade?
Wealthsimple is cool such that they allow Canadian investors to make a minimum deposit of only $1. Most alternative banks and brokerages have large min deposit amounts of $1000-$5000. This makes it impossible for the normal investor to start investing. With Wealthsimple Trade, one doesn’t need to be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Have Registered Accounts?
It does. Wealthsimple Trade offers both registered and non-CRA-registered account types. You may select both RRSP and TFSA accounts in the setup process.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a easy to use mobile app offered to download on both IOS and also Android. The smartphone app makes the signup phase and the trading of stocks and ETFs very a breeze.
So Is Wealthsimple Trade Trustworthy?
Most definitely. Wealthsimple Trade is legit. Wealthsimple boasts in excess of 15 billion Canadian in Assets Under Management (AUM). This company has been expanding for more than 7 years and also employs more than 600 Canadians. The controlling owner is the large public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fees online brokerage to operate in Canada.
How Can I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly easy to add money to your account. Just connect to a chequing or savings account with your Trade account, then add funds to your account in only a few clicks. Deposits from banks to Wealthsimple typically take just a couple of days. Funds can the same way can be moved back to your chequing or savings account by the exact same method.
What Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An alternative to Interac e-Transfers that allow one to quickly and efficiently transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for tax year and submit your tax return online free. It’s advertised as easy, accurate and always free tax filing.
Wealthsimple Spend – A combination pre paid debit card and savings account which lets you to get 1% cashback on all your spending, and also earn a very competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which offers a variety of online courses on different topics such as saving, investing, crypto, home buying and more.
Every one of the above features, along with Wealthsimple Trade may be accessed inside the app and from the site with a single login.
But How Should I Start Using Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. As an exclusive registration bonus offer to our audience you will get the equivalent cash value of a stock valued at up to $4,500 Canadian once you add funds to your account.
So What if I Still Have Additional Questions About Contact Wealthsimple?
If this blog post still hasn’t answered all of your questions, and you’re searching for additional specific answers about Contact Wealthsimple, go to the Wealthsimple site for answers to each your questions.