What is Wealthsimple?
Wealthsimple is an easy to use Canadian web based Financial, stocks plus crypto trading platform that distinguishes itself from its competitors by charging absolutely no fees.
A online financial services business founded in the Autumn of twenty fourteen originally as a robo-advisor algorithmic automated trading platform called Wealthsimple Invest, it has evolved substantially over the previous 8 years to include Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets consumers trade both single stocks and also ETFs without needing to pay fees. The exception is when trading securities that are listed in USD. In that case, they do charge a nominal currency conversion fee when buying and selling. However, behind us are the days of having to pay Upwards of $7 for each trade with digital discount brokerages as was normal only a few years ago.
How Much in Funds do I Need to Begin Investing on Wealthsimple Trade?
Wealthsimple is special such that they will allow Canadians to make a minimum deposit of just $1. The majority of traditional banks and brokerages have sizeable min deposit amounts of $1,000-5k. This makes it difficult for the everyday new investor to get started. With Wealthsimple Trade, you don’t have to already be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Have Registered Accounts?
Yes. Wealthsimple Trade has available CRA registered and non-registered account types. You can select both RRSP and TFSA account types in the setup process.
But Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a well designed mobile app offered to download on Apple and also Android. The mobile app makes the registration phase and trading of stocks and ETFs very a breeze.
So Is Wealthsimple Trade Secure?
For sure. Wealthsimple Trade is legit. Wealthsimple boasts in excess of 15 billion CAD of Assets Under Management . This company has been expanding for more than 7 years and right now employs roughly 600 people. The majority shareholder is the respected publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital brokerage to operate in Canada.
So How Can I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very straight forward to fund a new account. Simply connect a chequing or savings account to your Trade account, and add funds to your account in only a few steps. Deposits from your bank to Wealthsimple normally take only a couple of days. Funds can just as easily be moved back to a chequing or savings accounts through the same method.
What Additional Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An alternative to Interac e-transfers which allows one to quickly and easily send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for this tax year and file your taxes online free. It’s pitched as simple, accurate and always totally free tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings product which lets one to earn 1% cashback on your everyday purchases, and also get a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform that includes a bunch 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 found on the app and at their site with one login.
So How Should I Get Started With Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. As a special signup bonus offer to our readers you will receive the cash value of a random share valued at up to $4,500 CAD once you add funds to your account.
So What if I Still Have Questions About Trade Wealthsimple?
If this blog post hasn’t given you the answers to all of your questions, and you’re looking for more answers about Trade Wealthsimple, visit the Wealthsimple website to get answers to each your questions.