What is Wealthsimple?
Wealthsimple is an easy to use Canadian online investing, stocks and crypto trading app that sets itself apart from other apps by charging absolutely no fees.
A fintech business launched in Fall of twenty fourteen originally as a robo-advisor algorithmic automated trading app named Wealthsimple Invest, it has grown significantly over the last eight years to include Wealthsimple Trade, a zero fees discount brokerage platform.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows Canadian investors to trade both individual stocks and ETFs without having to pay any fees. The exception is when you’re trading securities that are listed in US Dollars. In that case, they do charge a small currency conversion fee both when buying and selling. But, behind us are the days of having to pay $7-12 per trade with online discount brokerages as was normal just a couple years past.
Exactly How Much Money do I Need to Start on Wealthsimple Trade?
Wealthsimple is unique in that they will allow Canadians to make a minimum deposit of just $1. The majority of alternative banks and discount brokerages have sizeable minimum deposit amounts of $1000-5k. This makes it tough for the normal investor to get started. With Wealthsimple Trade, you won’t need to already be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Have Registered Accounts?
They do. Wealthsimple Trade has available both registered and non-registered accounts. You are able to select between both RRSP and TFSA account types during the setup wizard.
Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a convenient mobile app offered to download on IOS and also Google Play. The mobile app makes the registration phase and trading of stocks and ETFs incredibly a breeze.
But Is Wealthsimple Trade Secure?
For sure. Wealthsimple Trade is trustworthy. Wealthsimple has over 15 billion CAD in Assets Under Management (AUM). This company has been expanding for more than 7 years and right now employs roughly 600 Canadians. The controlling owner is the large publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fee online brokerage operating in Canada.
How Can I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly easy to fund an account. Simply connect a chequing or savings account to your Trade account, and then fund your account in simply a couple of steps. Deposits from your bank to Wealthsimple usually take just a couple of days. Funds can just as easily be moved back to a chequing or savings account using the same steps.
Which Other Features and Products Are Available?
Wealthsimple Cash – This is alternative to Interac e-transfers which allows one to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for tax year and file your taxes online free. It’s pitched to be simple, accurate and always totally free tax filing.
Wealthsimple Spend – A hybrid prepaid visa and savings product which lets you to get 1% cashback on your everyday purchases, as well as earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that offers a bunch of different online courses on different topics such as saving, investments, crypto, real estate and more.
All of the above features, including Wealthsimple Trade may be accessed in the mobile app and on their site with one login.
So How Should I Get Started With Wealthsimple Trade?
Click here to signup for a new Wealthsimple Trade account. For a special registration bonus for our readers you will receive the equivalent cash value of a random share valued at $25 up to $4,500 CAD once you make an initial deposit to your account.
So What if I Still Have Additional Questions Related to Wealthsimple 2022?
If this review still hasn’t answered each of your questions, and you’re still searching for further information about Wealthsimple 2022, go to the Wealthsimple website for answers to each your questions.