What is Wealthsimple?
Wealthsimple is a simple to use Canadian online investing, stocks and crypto trading web app that differentiates itself from the competition by charging no fees.
A Toronto, Ontario based online financial services company launched in Autumn of 2014 originally as a robo advisor automated trading platform called Wealthsimple Invest, it has improved considerably over the past eight years to also include Wealthsimple Trade, a no fee discount brokerage service.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets Canadian investors to trade both single stocks and ETFs without needing to pay any fees. The exception is when trading securities which are displayed in US Dollars. In that case, they will charge a currency conversion fee when buying and selling. But, past us are the days of paying $7-12 for each trade with online discount brokerages as was the norm just a couple years ago.
How Much Cash do I Need to Have in Order to Begin Investing on Wealthsimple Trade?
Wealthsimple is cool in that they will allow Canadians to make a minimum deposit of just $1. Most alternative banks and brokerages have sizeable minimum deposit amounts of 1K-5k. This makes it tough for the everyday investor to start investing. With Wealthsimple Trade, you don’t have to already be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Offer Registered Accounts?
Of course. Wealthsimple Trade has available CRA registered and non-CRA-registered account types. You may choose both RRSP and TFSA accounts during the setup wizard.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a easy to use mobile app available on both Apple and Google Play. The mobile app makes the signup steps and trading of stocks and ETFs truly easy.
So Is Wealthsimple Trade Safe?
. Wealthsimple Trade is safe. Wealthsimple reports more than 15 billion Canadian of Assets Under Management . These folks have been in business for more than 7 years and at this time employs roughly 600 people. The majority shareholder is the admired public Canadian entity Power Corp of Canada. Weapthsimple Trade was the very first no-fee online brokerage to operate in Canada.
But How Do I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly simple to add money to an account. Just connect the app to a chequing or savings account to your Trade account, and add funds to your account in simply a couple of clicks. Deposits from financial institutions to Wealthsimple normally take a couple of days. Funds can also be moved back to a chequing or savings account by the exact same method.
What Other Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to Interac e-transfers which allow anyone to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for tax season and file your taxes online for free. It’s pitched as easy, accurate and always free tax filing.
Wealthsimple Spend – A hybrid pre paid visa and savings account that lets one to get 1% cashback on all your everyday purchases, as well as earn a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform that offers a ton of online courses on topics like saving, investments, crypto, real estate and more.
All of the mentioned products, along with Wealthsimple Trade can be found in the mobile app or from their site with one login.
How Should I Start Using Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. For a special signup bonus offer to our audience you will receive the cash value of a share worth up to $4,500 CAD as soon as you make an initial deposit to your account.
What if I Still Have Additional Questions About Vechain Wealthsimple?
If this blog post still hasn’t answered each of your questions, and you’re still browsing for further information about Vechain Wealthsimple, go to the Wealthsimple website to find answers to every one of your questions.