What is Wealthsimple?
Wealthsimple is a simple to use Canadian web based Financial, stocks plus crypto trading platform that distinguishes itself from similar apps by charging absolutely no fees.
A leading Canadian online financial services business founded in Fall 2014 exclusively as a robo-advisor algorithmic trading app called Wealthsimple Invest, it has improved significantly over the previous eight years to also feature Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows consumers to trade single stocks and also ETFs without having to pay fees. The exception to this is when trading securities that are displayed in USD. In that case, they do charge a nominal currency conversion fee both when buying and selling. But, gone are the days of having to pay $7-12 per trade with digital discount brokerages as was common only a couple years past.
How Much Cash do I Need to Start Investing With Wealthsimple Trade?
Wealthsimple is awesome in that they allow investors to make a minimum deposit of only $1. Most alternative banks and brokerages have large min deposit amounts of 1K-$5,000. This makes it impossible for the every day investor to start. With Wealthsimple Trade, you won’t need to be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Have Registered Accounts?
Yes. Wealthsimple Trade has available both registered and non-registered account types. One may choose both RRSP and TFSA account types during the setup phase.
But Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a convenient mobile app available to download on both IOS and Google Play. The mobile app makes the signup process and trading of stocks and ETFs very a breeze.
Is Wealthsimple Trade Legit?
Definitely. Wealthsimple Trade is secure. Wealthsimple has more than 15 billion CAD of Assets Under Management (AUM). they’ve been expanding for more than 7 years and at this time employs about 600 people. The main shareholder is the respected publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fee online brokerage to operate in Canada.
How Does One Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so easy to fund an account. Just connect the app to a chequing or savings account to your Trade account, and then add money to your account in just a couple of steps. Deposits from banks to Wealthsimple usually take just a few days. Funds can just as easily be moved to your chequing or savings account by using the exact same process.
Which Additional Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to E-transfers which allow one to quickly and efficiently send money to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for tax season and file your tax return online free. It’s pitched as easy, accurate and always totally free tax filing.
Wealthsimple Spend – A hybrid prepaid visa and savings account which allows one to get 1% cashback on your everyday purchases, and also get a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which includes a ton of different courses on topics like saving, investments, crypto, real estate and much more.
Every one of the mentioned features, including Wealthsimple Trade can be accessed within the mobile app or at their site with one login.
But How do I Get Started With Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. As a special signup bonus offer to our readers you’ll receive the equivalent cash value of a random share worth $25 up to $4,500 CAD as soon as you make an initial deposit to your account.
But What if I Still Have Questions Concerning Personal Account Wealthsimple?
If this review hasn’t given you the answers to each of your questions, and you’re looking for more facts about Personal Account Wealthsimple, visit the Wealthsimple site to find answers to all your questions.