What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based Financial, stock and crypto trading platform that distinguishes itself from its competitors by charging absolutely no fees.
A leading Canadian online financial services business founded in Autumn of 2014 originally as a robo advisor trading app called Wealthsimple Invest, it has grown considerably over the previous eight years to feature Wealthsimple Trade, a no fee discount brokerage platform.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows consumers trade individual stocks and also ETFs without needing to pay any fees. The exception is when trading securities that are listed in USD. In this case, they charge a currency conversion fee both when buying and selling. However, past us are the times of paying $7-12 per trade with digital discount brokerages as was the case a few years ago.
Exactly How Much in Funds do I Need to Have to Get Started on Wealthsimple Trade?
Wealthsimple is cool in that they allow Canadian investors to make a minimum deposit of just $1. Many traditional banks and discount brokerages have large initial deposit amounts of 1K-5k. This makes it difficult for the common new investor to start investing. With Wealthsimple Trade, you won’t have to be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Offer TFSA Accounts?
They do. Wealthsimple Trade offers both CRA registered and non-CRA-registered accounts. You are able to select between both RRSP and TFSA accounts during the setup process.
Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a well designed mobile app available on IOS and also Android. The mobile app makes the enrollment process and also the trading of stocks and ETFs very painless.
Is Wealthsimple Trade Secure?
Most definitely. Wealthsimple Trade is legit. Wealthsimple reports in excess of 15 billion Canadian of Assets Under Management (AUM). This company has been expanding for more than 7 years and at this time employs more than 600 folks. The majority owner is the public Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fees digital brokerage to operate in Canada.
So How Do I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite easy to add funds to an account. Just connect a chequing or savings account to your Trade account, then add funds to your account in just a few steps. Deposits from financial institutions to Wealthsimple typically take only a couple of days. Funds can just as easily be moved to your chequing or savings account by using the same steps.
What Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – An alternative to Interac E-Transfers which allow one to quickly and efficiently transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for tax season and submit your taxes online free. It’s described to be simple, accurate and always totally free tax filing.
Wealthsimple Spend – A hybrid prepaid visa and savings account which lets you to get 1% cashback on your purchases, and also earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that includes a ton of courses on different topics such as saving, investments, crypto, home buying and much more.
Each of the above features, along with Wealthsimple Trade may be found on the app or on their site with one login.
How do I Start Using Wealthsimple Trade?
Click here to register for a new Wealthsimple Trade account. As an exclusive registration bonus offer to our readers you’ll get the equivalent cash value of a random Canadian stock valued at up to $4,500 Canadian as soon as you deposit to your account.
What if I Still Have Questions Related to Wealthsimple 100 Bonus?
If this review didn’t answered all of your questions, and you’re still searching for further info about Wealthsimple 100 Bonus, visit the Wealthsimple website for answers to every one of your questions.