What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online investing, securities plus crypto trading platform that sets itself apart from the competition by charging no fees.
A online financial services company launched in the Autumn of 2014 originally as a robo-advisor automated trading app called Wealthsimple Invest, it has grown substantially over the past 8 years to also include Wealthsimple Trade, a no fee discount brokerage service.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows investors trade single stocks and also ETFs without having to pay any commissions. The exception to this is when trading stocks which are listed in US Dollars. In that case, they do charge a currency conversion fee when buying and selling. However, behind us are the days of having to pay $7-12 per each trade with online discount brokerages as was expected just a few years ago.
Exactly How Much Cash Will I Need to Start With Wealthsimple Trade?
Wealthsimple is awesome such that they allow new customers to make a minimum deposit of just $1. Most alternative banks and brokerages have quite large minimum deposit amounts of 1K-$5,000. This makes it impossible for the every day new investor to start investing. With Wealthsimple Trade, you don’t have to already be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Have TFSA Accounts?
Of course. Wealthsimple Trade has available both registered and non-registered account types. You are free to select both RRSP and TFSA accounts during the setup wizard.
So Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a modern mobile app available to download on IOS and also Android. The app makes the signup phase and trading of stocks and ETFs incredibly a breeze.
But Is Wealthsimple Trade Secure?
For sure. Wealthsimple Trade is legit. Wealthsimple reports over 15 billion Canadian of Assets Under Management . They have been in business for more than 7 years and also right now employs about 600 folks. The primary shareholder is the public Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fee online discount brokerage to operate in Canada.
So How Do I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly easy to add funds to an account. Just connect a chequing or savings account to your Trade account, and add money to your account in just a few clicks. Deposits from banks to Wealthsimple usually take a couple of days. Funds can the same way can be moved to a chequing or savings account by the exact same steps.
What Other Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An alternative to Interac E-Transfers which allow anyone to quickly and easily transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for this tax season and submit your tax return online free. It’s advertised as easy, accurate and always totally free income tax filing.
Wealthsimple Spend – A hybrid pre paid visa and savings account which lets you to earn 1% cashback on all your purchases, and also get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that offers a bunch of online courses on topics like saving, investing, crypto, mortgages and more.
Every one of the above products, including Wealthsimple Trade can be accessed in the mobile app and on their website with a single login.
So How Should I Get Started Using Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. For an exclusive registration bonus to our audience you will get the cash value of a random stock valued at up to $4,500 Canadian once you deposit to your account.
But What if I Still Have Additional Questions About Jessica Oliver Wealthsimple?
If this blog post didn’t given you the answers to each of your questions, and you’re still searching for more specific info about Jessica Oliver Wealthsimple, visit the Wealthsimple site to get answers to all your questions.