What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital investing, securities plus crypto trading app that sets itself apart from its competitors by charging no fees.
A fintech business founded in the Autumn 2014 originally as a robo advisor trading platform named Wealthsimple Invest, it has improved substantially over the past 8 years to also feature Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows consumers to trade single stocks and ETFs without paying commissions. The exception to this is when you’re trading stocks that are displayed in USD. In which case, they charge a currency conversion fee when buying and selling. But, past us are the times of paying $7-12 for each trade with discount brokerages as was the norm just a few years past.
How Much in Funds Will I Need to Have to Start Investing With Wealthsimple Trade?
Wealthsimple is unique such that they will allow investors to make a minimum deposit of just $1. The majority of traditional banks and discount brokerages have quite large min deposit amounts of $1000-$5,000. This makes it difficult for the normal investor to start. With Wealthsimple Trade, one doesn’t need to be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Offer Registered Accounts?
Yes. Wealthsimple Trade has available CRA registered and non-registered accounts. One are free to select between both RRSP and TFSA accounts in the setup wizard.
Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a easy to use mobile app available on both iOS and also Google Play. The mobile app makes the signup steps and also the trading of stocks and ETFs super easy.
But Is Wealthsimple Trade Safe?
For sure. Wealthsimple Trade is safe. Wealthsimple reports in excess of 15 billion Canadian of Assets Under Management . These folks have been expanding for more than 7 years and also now employs roughly 600 folks. The majority shareholder is the respected public Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fee online discount brokerage to operate in Canada.
How Does One Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very easy to add funds to a new account. Just connect the app to a chequing or savings account with your Trade account, and then add funds to your account in just a few clicks. Deposits from financial institutions to Wealthsimple normally take just a few days. Funds can also be moved to your chequing or savings accounts by the exact same method.
What Additional Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An alternative to E-Transfers which allow you to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for tax year and submit your taxes online for free. It’s advertised to be simple, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid pre paid visa and savings product that lets you to earn 1% cashback on your everyday purchases, as well as get a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform which includes a bunch of courses on different topics such as saving, investing, crypto, real estate and much more.
All of the listed products, including Wealthsimple Trade may be found on the app and on their site with your Wealthsimple login.
How do I Start With Wealthsimple Trade?
Click here to create a new Wealthsimple Trade account. For an exclusive registration bonus offer to our audience you’ll get the cash value of a Canadian stock valued at up to $4,500 Canadian when you deposit to your account.
But What if I Still Have Additional Questions Concerning Open Wealthsimple Trade Account?
If this article hasn’t given you the answers to all of your questions, and you’re browsing for more answers relating to Open Wealthsimple Trade Account, go to the Wealthsimple website to get answers to all your questions.