What is Wealthsimple?
Wealthsimple is a simple to use Canadian web based Financial, securities and crypto trading app that differentiates itself from the competition by charging absolutely no fees.
A online financial services business launched in the Fall of 2014 exclusively as a robo-advisor automated trading platform called Wealthsimple Invest, it has grown considerably over the previous 8 years to also feature Wealthsimple Trade, a zero fees discount brokerage service.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets Canadian consumers trade individual stocks and ETFs without paying any fees. The exception to this is when trading securities which are displayed in USD. In that case, they will charge a currency conversion fee when buying and selling. But, gone are the days of having to pay Upwards of $7 per trade with online discount brokerages as was the norm just a few years past.
How Much in Funds do I Need to Begin Investing With Wealthsimple Trade?
Wealthsimple is unique such that they will allow Canadians to make a minimum deposit of just $1. Many alternative banks and discount brokerages have large min deposit amounts of 1K-$5000. This makes it hard for the normal new investor to start. With Wealthsimple Trade, you don’t have to already be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Offer RRSP Accounts?
They do. Wealthsimple Trade has available both registered and non-registered accounts. One are free to select between both RRSP and TFSA account types in the setup phase.
But Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a convenient mobile app that is offered on IOS and also Google Play. The mobile app makes the enrollment process and also trading of stocks and ETFs super a breeze.
So Is Wealthsimple Trade Trustworthy?
Most definitely. Wealthsimple Trade is trustworthy. Wealthsimple boasts in excess of 15 billion Canadian in Assets Under Management (AUM). they’ve been in business for more than 7 years and also employs roughly 600 people. The majority shareholder is the public Canadian corporation Power Corp of Canada. Weapthsimple Trade is the first no-fees digital discount brokerage operating in Canada.
So How Can I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite straight forward to deposit to your new account. Simply connect to a chequing or savings account with your Trade account, and then add funds to your account in only a couple of clicks. Deposits from financial institutions to Wealthsimple usually take a couple of days. Funds can just as easily be moved to a chequing or savings account through the same process.
What Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is equivalent to e-transfers which allow one to quickly and simply send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for this tax year and file your taxes online free. It’s advertised as easy, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings product which allows you to recieve 1% cashback on your everyday spending, and also get a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform that includes a ton of courses on topics like saving, investments, crypto, mortgages and more.
Each of the listed features, along with Wealthsimple Trade can be accessed within the mobile app and at their website with a single login.
But How Should I Get Started Using Wealthsimple Trade?
Click here to signup for a Wealthsimple Trade account. For a special signup bonus for our audience you will get the cash value of a random share worth up to $4,500 Canadian once you make an initial deposit to your account.
What if I Still Have Additional Questions Related to Login Wealthsimple?
If this blog post still hasn’t given you the answers to all of your questions, and you’re searching for more information relating to Login Wealthsimple, go to the Wealthsimple site for answers to each your questions.