What is Wealthsimple?
Wealthsimple is a simple to use Canadian online Financial, stock plus crypto trading platform that distinguishes itself from similar apps by charging no fees.
A Toronto, Ontario based online financial services company launched in the Fall of 2014 exclusively as a robo advisor algorithmic automated trading platform named Wealthsimple Invest, it has improved substantially over the past 8 years to feature Wealthsimple Trade, a zero fees discount brokerage app.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets Canadian consumers to trade single stocks and ETFs without paying any fees. The exception to this is when you’re trading stocks that are displayed in US Dollars. In which case, they charge a nominal currency conversion fee when buying and selling. However, gone are the times of having to pay Upwards of $7 for each trade with digital discount brokerages as was expected only a few years past.
Exactly How Much in Funds do I Need in Order to Start With Wealthsimple Trade?
Wealthsimple is awesome in that they will allow Canadian investors to make a minimum deposit of only $1. Most traditional banks and discount brokerages have large min deposit amounts of 1k-5K. This makes it hard for the typical new investor to start investing. With Wealthsimple Trade, you won’t need to be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Offer Registered Accounts?
It does. Wealthsimple Trade offers registered and non-CRA-registered accounts. One may choose both RRSP and TFSA accounts in the setup phase.
So Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a modern mobile app that is available on both Apple and Google Play. The smartphone app makes the enrollment process and also the trading of stocks and ETFs truly painless.
But Is Wealthsimple Trade Safe?
For sure. Wealthsimple Trade is trustworthy. Wealthsimple has more than 15 billion Canadian in Assets Under Management . These folks have been in business for more than 7 years and also at this time employs about 600 folks. The main shareholder is the respected public Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fee online discount brokerage to operate in Canada.
So How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very easy to add money to an account. Just connect a chequing or savings account to your Trade account, and then fund your account in simply a couple of clicks. Deposits from banks to Wealthsimple usually take only a few days. Funds can the same way can be moved to your chequing or savings accounts through the same method.
Which Additional Benefits and Products Are Available?
Wealthsimple Cash – An alternative to e-Transfers that allows you to quickly and efficiently send cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for tax year and file your taxes online for free. It’s described as simple, accurate and always free income tax filing.
Wealthsimple Spend – A hybrid prepaid visa and savings product that lets you to get 1% cashback on your everyday spending, as well as get a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that offers a ton of different online courses on topics like saving, investing, crypto, mortgages and much more.
Each of the listed features, including Wealthsimple Trade may be found inside the mobile app and at the website with one login.
How Can I Get Started Using Wealthsimple Trade?
Click here to register for a new Wealthsimple Trade account. As a special signup bonus offer for our audience you will get the cash value of a Canadian stock valued at up to $4,500 Canadian as soon as you make an initial deposit to your account.
But What if I Still Have Additional Questions About Wealthsimple 0.5 Fee?
If this blog post didn’t given you the answers to all of your questions, and you’re still searching for more specific info about Wealthsimple 0.5 Fee, check out the Wealthsimple site to find answers to each your questions.