What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian digital investing, stock and crypto trading app that sets itself apart from other apps by charging no fees.
A Toronto, Ontario based online financial services company launched in Autumn 2014 exclusively as a robo advisor algorithmic trading platform named Wealthsimple Invest, it has grown significantly over the past 8 years to also include Wealthsimple Trade, a zero fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets Canadian consumers trade individual stocks and ETFs without needing to pay commissions. The exception to this is when you’re trading securities that are displayed in USD currency. In this case, they charge a currency conversion fee both when buying and selling. But, behind us are the times of paying $7-12 per each trade with digital discount brokerages as was expected a couple years ago.
Exactly How Much Money Will I Need to Have to Begin Investing on Wealthsimple Trade?
Wealthsimple is cool such that they will allow new customers to make a minimum deposit of only $1. The majority of traditional banks and discount brokerages have sizeable minimum deposit amounts of $1000-$5,000. This makes it tough for the everyday new investor to get started. With Wealthsimple Trade, you won’t need to be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Have TFSA Accounts?
They do. Wealthsimple Trade has both registered and non-registered accounts. One are free to select both RRSP and TFSA account types during the setup wizard.
So Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a convenient mobile app available to download on Apple and also Android. The app makes the enrollment process and trading of stocks and ETFs easy.
But Is Wealthsimple Trade Trustworthy?
For sure. Wealthsimple Trade is safe. Wealthsimple reports over 15 billion Canadian in Assets Under Management (AUM). They have been expanding for more than 7 years and also right now employs about 600 people. The majority shareholder is the respected publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fee digital brokerage operating in Canada.
But How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very simple to deposit to your account. Simply connect a chequing or savings account to your Trade account, then fund your account in simply a few steps. Deposits from financial institutions to Wealthsimple usually take a couple of days. Funds can the same way can be withdrawn a chequing or savings accounts through the same steps.
Which Additional Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to E-Transfers that allows one to quickly and efficiently transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for this tax season and file your taxes online free. It’s described as easy, 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 purchases, and also get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which offers a bunch of online courses on topics like saving, investing, crypto, real estate and more.
Every one of the above features, along with Wealthsimple Trade may be found in the app and on the site with a single login.
How Should I Get Started With Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. As an exclusive registration bonus to our audience you’ll receive the cash value of a Canadian stock worth up to $4,500 CAD when you fund your account.
But What if I Still Have Questions Related to Wealthsimple 3 Dollars A Month?
If this blog post still hasn’t given you the answers to each of your questions, and you’re still looking for additional facts relating to Wealthsimple 3 Dollars A Month, go to the Wealthsimple website for answers to every one of your questions.