What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian digital Financial, securities and crypto trading platform that differentiates itself from other apps by charging no fees.
A fintech business launched in the Fall 2014 originally as a robo-advisor algorithmic automated trading platform called Wealthsimple Invest, it has grown significantly over the previous eight years to feature Wealthsimple Trade, a zero fees discount brokerage service.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets Canadian investors to trade both individual stocks and ETFs without paying fees. The exception to this is when you’re trading stocks which are denominated in USD currency. In that case, they will charge a small currency conversion fee when buying and selling. But, behind us are the times of having to pay more than $7 per trade with digital discount brokerages as was common only a couple years past.
Exactly How Much in Funds do I Need to Have in Order to Start Investing on Wealthsimple Trade?
Wealthsimple is unique in that they will allow Canadian investors to make a minimum deposit of only $1. Many traditional banks and discount brokerages have sizeable initial deposit amounts of $1000-$5,000. This makes it tough for the common investor to start investing. With Wealthsimple Trade, you won’t have to be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Have Registered Accounts?
Of course. Wealthsimple Trade has CRA registered and non-CRA-registered accounts. You can choose both RRSP and TFSA account types during the setup wizard.
But Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a easy to use mobile app that is available on iOS and also Google Play. The smartphone app makes the signup steps and also trading of stocks and ETFs painless.
So Is Wealthsimple Trade Secure?
Of course. Wealthsimple Trade is secure. Wealthsimple boasts over 15 billion CAD of Assets Under Management . This company has been expanding for more than 7 years and now employs over 600 folks. The primary shareholder is the large publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade was the first no-fees digital discount brokerage operating in Canada.
How Do I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very simple to deposit to your new account. Simply connect to a chequing or savings account to your Trade account, then fund your account in only a couple of clicks. Deposits from your bank to Wealthsimple usually take only a few days. Funds can just as easily be moved to a chequing or savings account with the exact same method.
What Additional Features and Products Are Available?
Wealthsimple Cash – This is equivalent to Interac e-Transfers which allows you to quickly and simply transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for tax season and submit your taxes online for free. It’s described as easy, accurate and always totally free tax filing.
Wealthsimple Spend – A combination pre paid debit card and savings account that lets one to get 1% cashback on all your spending, as well as get a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that offers a variety of different courses on saving, investing, crypto, home buying and more.
All of the listed features, including Wealthsimple Trade can be found in the app or from their website with your Wealthsimple login.
But How Can I Start With Wealthsimple Trade?
Click here to signup for a new Wealthsimple Trade account. As an exclusive registration bonus offer for our audience you will get the equivalent cash value of a random Canadian stock worth $25 up to $4,500 CAD as soon as you deposit to your account.
So What if I Still Have Additional Questions About Owner Of Wealthsimple?
If this blog post didn’t given you the answers to each of your questions, and you’re still searching for further specific answers relating to Owner Of Wealthsimple, visit the Wealthsimple website for answers to every one of your questions.