What is Wealthsimple?
Wealthsimple is an easy to use Canadian web based investing, stock and crypto trading platform that sets itself apart from the competition by charging no fees.
A leading Canadian fintech company launched in the Autumn of 2014 exclusively as a robo-advisor automated trading platform called Wealthsimple Invest, it has grown considerably over the past eight years to also feature Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets investors trade both single stocks and ETFs without having to pay commissions. The exception is when you’re trading ETFs and stocks that are denominated in USD currency. In this case, they charge a nominal currency conversion fee both when buying and selling. But, gone are the days of paying more than $7 for each trade with discount brokerages as was expected only a few years past.
How Much Cash Will I Need to Have in Order to Get Started on Wealthsimple Trade?
Wealthsimple is unique in that they allow new customers to make a minimum deposit of just $1. Most alternative banks and brokerages have large min deposit amounts of 1k-$5000. This makes it tough for the normal new investor to get started. With Wealthsimple Trade, you don’t need to be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Offer TFSA Accounts?
Yes. Wealthsimple Trade has CRA registered and non-CRA-registered accounts. One may select both RRSP and TFSA account types during the setup process.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a modern mobile app available to download on both iOS and also Google Play. The mobile app makes the registration phase and also trading of stocks and ETFs very simple.
But Is Wealthsimple Trade Legit?
. Wealthsimple Trade is secure. Wealthsimple boasts in excess of 15 billion CAD in Assets Under Management (AUM). These folks have been expanding for more than 7 years and also at this time employs roughly 600 people. The majority owner is the publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital brokerage to operate in Canada.
So How Does One Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite easy to fund your account. Just connect the app to a chequing or savings account with your Trade account, and then add money to your account in only a few steps. Deposits from banks to Wealthsimple usually take just a few days. Funds can just as easily be withdrawn a chequing or savings account by the exact same process.
What Other Benefits and Products Are Available?
Wealthsimple Cash – An alternative to Interac e-Transfers which allows one to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for this tax season and file your tax return online free. It’s described to be easy, accurate and always totally free tax filing.
Wealthsimple Spend – A combination pre paid debit card and savings product which allows one to get 1% cashback on your spending, and also get a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that offers a ton of courses on saving, investments, crypto, real estate and more.
Each of the listed features, along with Wealthsimple Trade can be accessed inside the app or on the website with a single login.
How Can I Get Started Using Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. For a special registration bonus offer for our audience you will receive the equivalent cash value of a stock valued at $25 up to $4,500 Canadian once you deposit to your account.
What if I Still Have Questions Related to Mint Access Token Wealthsimple?
If this review didn’t given you the answers to each of your questions, and you’re still searching for further facts about Mint Access Token Wealthsimple, go to the Wealthsimple site to find answers to every one of your questions.