What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital investing, stocks plus crypto trading web app that differentiates itself from the competition by charging absolutely no fees.
A leading Canadian fintech company launched in the Fall 2014 originally as a robo advisor automated trading app called Wealthsimple Invest, it has improved substantially over the last eight years to also feature Wealthsimple Trade, a no fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets Canadian investors trade single stocks and ETFs without having to pay any commissions. The exception is when trading stocks that are listed in USD currency. In which case, they do charge a nominal currency conversion fee both when buying and selling. However, past us are the days of having to pay Upwards of $7 per each trade with online discount brokerages as was the norm just a few years ago.
How Much Cash do I Need to Have to Start on Wealthsimple Trade?
Wealthsimple is awesome such that they will allow Canadian investors to make a minimum deposit of just $1. The majority of alternative banks and brokerages have quite large minimum deposit amounts of 1K-5K. This makes it tough for the every day new investor to start investing. With Wealthsimple Trade, you don’t need to already be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Offer TFSA Accounts?
They do. Wealthsimple Trade has both registered and non-CRA-registered accounts. One can choose between both RRSP and TFSA accounts during the setup process.
So Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a well designed mobile app offered on Apple and also Android. The mobile app makes the signup phase and also the trading of stocks and ETFs very a breeze.
But Is Wealthsimple Trade Legit?
. Wealthsimple Trade is secure. Wealthsimple boasts over 15 billion Canadian of Assets Under Management (AUM). This company has been operating for more than 7 years and currently employs over 600 folks. The controlling owner is the public Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital brokerage to operate in Canada.
But How Does One Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly straight forward to add funds to a new account. Just connect to a chequing or savings account to your Trade account, and add funds to your account in only a few clicks. Deposits from banks to Wealthsimple normally take only a couple of days. Funds can the same way can be moved to your chequing or savings account by using the same method.
Which Additional Features and Products Are Available?
Wealthsimple Cash – An equivalent to Interac e-Transfers that allows you to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for tax season and file your taxes online for free. It’s advertised to be easy, accurate and always totally free income tax filing.
Wealthsimple Spend – A combination prepaid visa and savings product which lets you to get 1% cashback on all your purchases, as well as get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform which includes a variety of online courses on different topics such as saving, investments, crypto, home buying and much more.
All of the mentioned features, including Wealthsimple Trade can be found in the mobile app and from the site with one login.
But How Should I Get Started With Wealthsimple Trade?
Click here to register for a new Wealthsimple Trade account. For an exclusive signup bonus for our audience you will receive the cash value of a stock worth up to $4,500 Canadian when you make an initial deposit to your account.
But What if I Still Have Questions Related to Partner Bonus Wealthsimple?
If this article still hasn’t given you the answers to all of your questions, and you’re still browsing for further specific information relating to Partner Bonus Wealthsimple, visit the Wealthsimple site to find answers to each your questions.