What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online investing, securities plus crypto trading app that distinguishes itself from its competitors by charging absolutely no fees.
A Toronto, Ontario based fintech business launched in Autumn 2014 originally as a robo advisor automated trading platform called Wealthsimple Invest, it has improved significantly over the previous eight years to also feature Wealthsimple Trade, a no fees discount brokerage app.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows consumers trade single stocks and also ETFs without paying any fees. The exception is when you’re trading stocks that are displayed in USD currency. In that case, they charge a small currency conversion fee when buying and selling. But, behind us are the times of having to pay more than $7 per each trade with online discount brokerages as was the norm just a couple years ago.
How Much in Funds do I Need to Get Started With Wealthsimple Trade?
Wealthsimple is cool in that they allow Canadian investors to make a minimum deposit of only $1. Many alternative banks and brokerages have sizeable minimum deposit amounts of 1k-5K. This makes it hard for the typical investor to get started. With Wealthsimple Trade, one doesn’t have to already be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Offer Registered Accounts?
Of course. Wealthsimple Trade has available registered and non-registered accounts. You are free to select between both RRSP and TFSA accounts in the setup process.
So Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a well designed mobile app that is available to download on both iOS and Google Play. The mobile app makes the enrollment steps and trading of stocks and ETFs super easy.
But Is Wealthsimple Trade Safe?
Yes. Wealthsimple Trade is safe. Wealthsimple boasts in excess of 15 billion Canadian in Assets Under Management (AUM). This company has been in business for more than 7 years and employs about 600 Canadians. The main owner is the respected publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the first no-fee online brokerage operating in Canada.
But How Does One Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly simple to add funds to an account. Just connect a chequing or savings account with your Trade account, and add funds to your account in simply a few steps. Deposits from financial institutions to Wealthsimple typically take a few days. Funds can just as easily be moved back to a chequing or savings account with the exact same method.
Which Other Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to E-transfers that allow you to quickly and simply send cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for this tax year and submit your tax return online free. It’s described to be easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A hybrid prepaid visa and savings account that lets you to get 1% cashback on all your spending, as well as earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that includes a ton of courses on topics like saving, investments, crypto, home buying and much more.
Every one of the listed products, along with Wealthsimple Trade may be accessed within the mobile app or from their website with a single login.
How do I Get Started Using Wealthsimple Trade?
Click here to register for a new Wealthsimple Trade account. As an exclusive signup bonus offer for our readers you will receive the cash value of a random Canadian stock valued at $25 up to $4,500 Canadian as soon as you add funds to your account.
What if I Still Have Additional Questions Related to Etf Fees Wealthsimple?
If this article still hasn’t answered each of your questions, and you’re still browsing for additional facts relating to Etf Fees Wealthsimple, check out the Wealthsimple site to find answers to every one of your questions.