What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian web based Financial, stocks plus crypto trading app that differentiates itself from its competitors by charging absolutely no fees.
A online financial services business founded in the Fall 2014 exclusively as a robo advisor automated trading app called Wealthsimple Invest, it has grown significantly over the past eight years to also feature Wealthsimple Trade, a no fees discount brokerage platform.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets Canadian investors to trade stand alone stocks and ETFs without needing to pay any commissions. The exception is when trading stocks and ETFs which are displayed in USD. In which case, they charge a nominal currency conversion fee when buying and selling. But, past us are the times of having to pay Upwards of $7 for each trade with discount brokerages as was the norm only a couple years ago.
How Much Cash do I Need in Order to Begin Investing With Wealthsimple Trade?
Wealthsimple is awesome in that they will allow Canadians to make a minimum deposit of only $1. Many alternative banks and discount brokerages have sizeable min deposit amounts of 1k-5k. This makes it difficult for the normal new investor to start investing. With Wealthsimple Trade, you don’t need to be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Offer Registered Accounts?
Yes. Wealthsimple Trade has available registered and non-registered account types. One are able to select between both RRSP and TFSA account types during the setup process.
Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a easy to use mobile app that is available on Apple and Google Play. The smartphone app makes the signup steps and trading of stocks and ETFs super simple.
Is Wealthsimple Trade Trustworthy?
Definitely. Wealthsimple Trade is secure. Wealthsimple boasts more than 15 billion CAD of Assets Under Management . They have been in business for more than 7 years and also right now employs more than 600 people. The main shareholder is the respected publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fees digital discount brokerage to operate in Canada.
But How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so easy to add money to an account. Simply connect the app to a chequing or savings account to your Trade account, and then add funds to your account in simply a couple of steps. Deposits from your bank to Wealthsimple normally take a couple of days. Funds can the same way can be withdrawn a chequing or savings account with the same process.
Which Other Benefits and Products Are Available?
Wealthsimple Cash – This is alternative to E-Transfers which allows anyone to quickly and efficiently transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for tax season and file your tax return online for free. It’s described as simple, accurate and always totally free income tax filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings account which lets you to get 1% cashback on your purchases, and also earn a very competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that includes a bunch of different courses on saving, investments, crypto, real estate and more.
All of the mentioned features, along with Wealthsimple Trade can be accessed within the mobile app and from their site with your Wealthsimple login.
But How Can I Get Started With Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. As a special signup bonus for our audience you’ll receive the equivalent cash value of a random stock valued at up to $4,500 CAD as soon as you add funds to your account.
What if I Still Have Questions Concerning Greedyrates Wealthsimple?
If this blog post hasn’t answered each of your questions, and you’re browsing for more info relating to Greedyrates Wealthsimple, go to the Wealthsimple site to get answers to every one of your questions.