What is Wealthsimple?
Wealthsimple is an easy to use Canadian digital Financial, stocks plus crypto trading web app that differentiates itself from the competition by charging no fees.
A online financial services company founded in Fall 2014 originally as a robo advisor trading platform called Wealthsimple Invest, it has evolved significantly over the previous eight years to also include Wealthsimple Trade, a zero fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets consumers to trade stand alone stocks and also ETFs without needing to pay any fees. The exception is when you’re trading ETFs and stocks which are displayed in USD currency. In which case, they do charge a small currency conversion fee when buying and selling. But, past us are the times of paying $7-12 for each trade with digital discount brokerages as was common just a couple years past.
How Much Money do I Need to Have to Start on 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 quite large min deposit amounts of $1,000-5k. This makes it difficult for the common new investor to start. With Wealthsimple Trade, you don’t have to already be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Offer TFSA Accounts?
It does. Wealthsimple Trade has available both registered and non-registered account types. One are able to choose both RRSP and TFSA account types in the setup process.
Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a convenient mobile app that is available on Apple and Google Play. The mobile app makes the registration steps and also the trading of stocks and ETFs very painless.
Is Wealthsimple Trade Legit?
Yes. Wealthsimple Trade is secure. Wealthsimple reports in excess of 15 billion CAD of Assets Under Management . This company has been operating for more than 7 years and right now employs roughly 600 people. The controlling owner is the large public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the first no-fees online discount brokerage to operate in Canada.
So How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite easy to fund a new account. Simply connect a chequing or savings account with your Trade account, and then add money to your account in only a few steps. Deposits from banks to Wealthsimple typically take a few days. Funds can also be moved back to a chequing or savings account using the exact same steps.
What Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An equivalent to Interac E-transfers which allows you to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for this tax season and submit your taxes online for free. It’s pitched as easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings account which allows one to get 1% cashback on your everyday purchases, as well as earn a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which includes a ton of online courses on saving, investments, crypto, mortgages and much more.
Every one of the above products, including Wealthsimple Trade may be accessed on the app and at their site with a single login.
So How Can I Start Using Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. For a special registration bonus to our readers you will get the equivalent cash value of a share worth up to $4,500 Canadian when you make an initial deposit to your account.
So What if I Still Have Additional Questions Concerning Wealthsimple 100k?
If this review didn’t answered all of your questions, and you’re still searching for additional facts about Wealthsimple 100k, visit the Wealthsimple website to get answers to each your questions.