What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based Financial, stocks plus crypto trading web app that sets itself apart from similar apps by charging no fees.
A Toronto, Ontario based fintech company founded in the Autumn 2014 originally as a robo advisor algorithmic automated trading platform called Wealthsimple Invest, it has evolved considerably over the last 8 years to also feature Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade allows Canadian investors to trade single stocks and ETFs without paying commissions. The exception is when you’re trading securities that are displayed in US Dollars. In that case, they will charge a currency conversion fee when buying and selling. However, behind us are the times of paying $7-12 per each trade with digital discount brokerages as was common only a couple years past.
Exactly How Much Money do I Need to Start Investing on Wealthsimple Trade?
Wealthsimple is awesome such that they will allow Canadians to make a minimum deposit of only $1. The majority of traditional banks and brokerages have large min deposit amounts of $1000-$5000. This makes it difficult for the every day investor to get started. With Wealthsimple Trade, you don’t need to already be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Offer Registered Accounts?
Of course. Wealthsimple Trade has available CRA registered and non-CRA-registered accounts. One are able to choose between both RRSP and TFSA accounts during the setup process.
Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a modern mobile app available on IOS and also Android. The smartphone app makes the signup phase and the trading of stocks and ETFs incredibly painless.
Is Wealthsimple Trade Legit?
Definitely. Wealthsimple Trade is safe. Wealthsimple reports over 15 billion Canadian in Assets Under Management (AUM). These folks have been in business for more than 7 years and currently employs about 600 people. The controlling owner is the large public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fees digital brokerage to operate in Canada.
So How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it straight forward to fund your account. Simply connect to a chequing or savings account to your Trade account, and add funds to your account in simply a couple of clicks. Deposits from financial institutions to Wealthsimple typically take a couple of days. Funds can also be withdrawn your chequing or savings account with the same steps.
Which Additional Features and Products Are Available?
Wealthsimple Cash – This is equivalent to E-transfers that allow you to quickly and efficiently transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for this tax season and submit your taxes online free. It’s pitched as easy, accurate and always totally free income tax filing.
Wealthsimple Spend – A hybrid pre paid visa and savings product which lets one to recieve 1% cashback on all your everyday purchases, and also get a very competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform which offers a bunch of different courses on topics like saving, investing, crypto, real estate and more.
Each of the mentioned features, along with Wealthsimple Trade may be found inside the app and on the site with one login.
How Should I Get Started With Wealthsimple Trade?
Click here to signup for a Wealthsimple Trade account. As a special signup bonus offer for our audience you will receive the equivalent cash value of a Canadian stock valued at $25 up to $4,500 CAD as soon as you add funds to your account.
But What if I Still Have Questions Related to Market Buy Pending Wealthsimple?
If this review hasn’t answered all of your questions, and you’re looking for further answers about Market Buy Pending Wealthsimple, go to the Wealthsimple site to get answers to all your questions.