What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian digital investing, stocks plus crypto trading web app that differentiates itself from similar apps by charging no fees.
A leading Canadian online financial services business launched in the Fall 2014 originally as a robo advisor automated trading platform called Wealthsimple Invest, it has changed significantly over the last eight years to include Wealthsimple Trade, a no fee discount brokerage app.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets Canadian investors trade both single stocks and also ETFs without paying commissions. The exception to this is when you’re trading stocks and ETFs which are listed in USD currency. In which case, they charge a currency conversion fee both when buying and selling. But, gone are the times of having to pay Upwards of $7 per trade with online discount brokerages as was the norm only a couple years ago.
Exactly How Much Money do I Need to Start With Wealthsimple Trade?
Wealthsimple is unique in that they allow investors to make a minimum deposit of just $1. Many traditional banks and brokerages have sizeable min deposit amounts of $1,000-5K. This makes it hard for the everyday new investor to start. With Wealthsimple Trade, one doesn’t have to already be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Offer TFSA Accounts?
Of course. Wealthsimple Trade has CRA registered and non-registered account types. One can select both RRSP and TFSA accounts in the setup process.
So Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a modern mobile app offered to download on IOS and Android. The mobile app makes the signup phase and trading of stocks and ETFs a breeze.
But Is Wealthsimple Trade Legit?
Yes. Wealthsimple Trade is legit. Wealthsimple reports over 15 billion CAD of Assets Under Management . These folks have been operating for more than 7 years and employs more than 600 Canadians. The controlling owner is the respected publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the very first no-fees online discount brokerage operating in Canada.
But How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it simple to add money to your new account. Just connect to a chequing or savings account with your Trade account, then fund your account in just a couple of steps. Deposits from financial institutions to Wealthsimple usually take just a few days. Funds can just as easily be moved to your chequing or savings accounts using the same process.
Which Additional Benefits and Products Are Available?
Wealthsimple Cash – This is alternative to e-transfers that allows anyone to quickly and simply send cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for tax season and submit your taxes online free. It’s advertised to be simple, accurate and always free tax filing.
Wealthsimple Spend – A combination prepaid visa and savings product which lets one to recieve 1% cashback on your spending, as well as earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform which includes a bunch of online courses on topics like saving, investing, crypto, mortgages and more.
Each of the above products, along with Wealthsimple Trade can be accessed in the mobile app or on the website with your Wealthsimple login.
So How Should I Begin With Wealthsimple Trade?
Click here to create a Wealthsimple Trade account. For an exclusive signup bonus to our readers you’ll get the cash value of a random Canadian stock worth up to $4,500 Canadian once you make an initial deposit to your account.
But What if I Still Have Additional Questions Concerning Wealthsimple $50 Bonus 2022?
If this review hasn’t answered each of your questions, and you’re browsing for further specific information about Wealthsimple $50 Bonus 2022, visit the Wealthsimple site to get answers to all your questions.