What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based investing, stocks and crypto trading platform that sets itself apart from similar apps by charging no fees.
A leading Canadian fintech business launched in Autumn 2014 exclusively as a robo advisor algorithmic automated trading app named Wealthsimple Invest, it has grown considerably over the previous 8 years to also feature Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows Canadian investors trade stand alone stocks and also ETFs without having to pay fees. The exception is when you’re trading ETFs and stocks which are denominated in USD currency. In which case, they do charge a currency conversion fee when buying and selling. But, gone are the times of having to pay more than $7 per each trade with digital discount brokerages as was expected just a few years ago.
How Much Cash Will I Need to Start Investing on Wealthsimple Trade?
Wealthsimple is cool such that they will allow investors to make a minimum deposit of only $1. Many alternative banks and brokerages have quite large initial deposit amounts of $1000-$5,000. This makes it impossible for the typical investor to get started. With Wealthsimple Trade, you don’t need to already be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Have Registered Accounts?
It does. Wealthsimple Trade offers registered and non-registered accounts. You are able to select between both RRSP and TFSA accounts in the setup phase.
So Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a well designed mobile app available on IOS and Android. The app makes the registration steps and also trading of stocks and ETFs very painless.
So Is Wealthsimple Trade Legit?
For sure. Wealthsimple Trade is legit. Wealthsimple reports more than 15 billion CAD in Assets Under Management . This company has been in business for more than 7 years and also right now employs more than 600 Canadians. The main shareholder is the public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fees online brokerage to operate in Canada.
But How Can I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so simple to add money to your new account. Just connect to a chequing or savings account with your Trade account, and add funds to your account in just a few clicks. Deposits from your bank to Wealthsimple normally take just a few days. Funds can also be moved back to a chequing or savings accounts using the same steps.
Which Additional Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An equivalent to Interac e-transfers that allows you to quickly and efficiently send cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for this tax year and file your tax return online for free. It’s advertised as easy, accurate and always totally free income tax filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings product which allows one to get 1% cashback on all your everyday spending, and also get a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform which offers a variety of online courses on different topics such as saving, investments, crypto, real estate and more.
All of the mentioned products, including Wealthsimple Trade can be accessed in the mobile app or at their site with your Wealthsimple login.
But How Should I Get Started Using Wealthsimple Trade?
Click here to register for a new Wealthsimple Trade account. For an exclusive signup bonus offer for our readers you will get the equivalent cash value of a Canadian stock valued at up to $4,500 Canadian once you fund your account.
So What if I Still Have Additional Questions Concerning Limit Buy Wealthsimple?
If this article still hasn’t given you the answers to all of your questions, and you’re looking for more answers about Limit Buy Wealthsimple, visit the Wealthsimple website to find answers to every one of your questions.