What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian web based Financial, stocks and crypto trading app that differentiates itself from other apps by charging absolutely no fees.
A leading Canadian fintech company founded in the Fall twenty fourteen originally as a robo-advisor trading app called Wealthsimple Invest, it has changed considerably over the last 8 years to feature Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows Canadian investors trade stand alone stocks and also ETFs without needing to pay any commissions. The exception is when trading stocks which are denominated in USD currency. In that case, they do charge a nominal currency conversion fee both when buying and selling. However, behind us are the times of paying more than $7 per trade with discount brokerages as was common just a few years past.
How Much Cash do I Need to Have in Order to Get Started on Wealthsimple Trade?
Wealthsimple is cool in that they allow investors to make a minimum deposit of just $1. Most alternative banks and brokerages have large min deposit amounts of 1k-$5,000. This makes it hard for the everyday investor to start. With Wealthsimple Trade, one doesn’t need to already be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Have TFSA Accounts?
Yes. Wealthsimple Trade has both CRA registered and non-CRA-registered accounts. One are able to select between both RRSP and TFSA accounts in the setup phase.
So Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a convenient mobile app that is available to download on both iOS and also Google Play. The smartphone app makes the enrollment steps and trading of stocks and ETFs truly a breeze.
But Is Wealthsimple Trade Secure?
Most definitely. Wealthsimple Trade is safe. Wealthsimple boasts over 15 billion Canadian in Assets Under Management (AUM). These folks have been in business for more than 7 years and right now employs over 600 people. The main owner is the admired public Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fee online brokerage to operate in Canada.
So How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very simple to deposit to an account. Simply connect the app to a chequing or savings account to your Trade account, and fund your account in just a couple of steps. Deposits from your bank to Wealthsimple typically take just a couple of days. Funds can also be withdrawn a chequing or savings account by the exact same process.
Which Other Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An equivalent to Interac E-Transfers which allow anyone to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for this tax season and file your tax return online for free. It’s described as easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings account which allows one to earn 1% cashback on your spending, and also get a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform which includes a bunch of courses on saving, investing, crypto, home buying and much more.
Every one of the above products, including Wealthsimple Trade can be accessed inside the mobile app or at their site with your Wealthsimple login.
So How do I Begin With Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. For a special registration bonus for our readers you’ll get the equivalent cash value of a stock worth $25 up to $4,500 Canadian as soon as you make an initial deposit to your account.
So What if I Still Have Additional Questions Related to Fractional Buy Wealthsimple?
If this article still hasn’t given you the answers to each of your questions, and you’re searching for additional information relating to Fractional Buy Wealthsimple, go to the Wealthsimple site to find answers to every one of your questions.