What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian online investing, stocks and crypto trading app that distinguishes itself from its competitors by charging absolutely no fees.
A leading Canadian online financial services company launched in the Autumn of twenty fourteen exclusively as a robo-advisor algorithmic trading app called Wealthsimple Invest, it has improved substantially over the past eight years to also include Wealthsimple Trade, a zero fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets consumers to trade both stand alone stocks and ETFs without paying commissions. The exception to this is when trading securities that are listed in USD. In this case, they will charge a nominal currency conversion fee when buying and selling. However, behind us are the times of paying $7-12 for each trade with online discount brokerages as was normal just a couple years ago.
Exactly How Much Cash do I Need in Order to Start Investing With Wealthsimple Trade?
Wealthsimple is unique in that they will allow Canadians to make a minimum deposit of only $1. Most traditional banks and brokerages have quite large minimum deposit amounts of 1k-$5000. This makes it hard for the every day investor to get started. With Wealthsimple Trade, you don’t have to be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Offer TFSA Accounts?
It does. Wealthsimple Trade offers registered and non-registered accounts. You may select between both RRSP and TFSA accounts in the setup phase.
But Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a modern mobile app offered on both IOS and also Android. The smartphone app makes the signup process and also the trading of stocks and ETFs truly simple.
But Is Wealthsimple Trade Safe?
Of course. Wealthsimple Trade is trustworthy. Wealthsimple boasts more than 15 billion CAD of Assets Under Management (AUM). They have been doing business for more than 7 years and right now employs more than 600 people. The majority shareholder is the respected public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fees digital discount brokerage to operate in Canada.
So How Can I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly easy to add funds to your new account. Simply connect the app to a chequing or savings account with your Trade account, and fund your account in just a few clicks. Deposits from your bank to Wealthsimple normally take only a couple of days. Funds can just as easily be moved to your chequing or savings account by using the exact same steps.
What Additional Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is alternative to Interac e-transfers which allows you to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for tax season and file your tax return online for free. It’s advertised to be easy, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid prepaid visa and savings account which allows you to recieve 1% cashback on all your spending, as well as get a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which offers a bunch of online courses on different topics such as saving, investing, crypto, mortgages and much more.
Each of the mentioned features, along with Wealthsimple Trade may be accessed inside the mobile app or on their site with your Wealthsimple login.
But How Can I Start Using Wealthsimple Trade?
Click here to register for a new Wealthsimple Trade account. For a special signup bonus for our audience you will get the equivalent cash value of a Canadian stock valued at up to $4,500 CAD as soon as you make an initial deposit to your account.
But What if I Still Have Questions Related to Instant Deposit Wealthsimple?
If this blog post didn’t answered each of your questions, and you’re browsing for additional specific info relating to Instant Deposit Wealthsimple, visit the Wealthsimple website to find answers to all your questions.