What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital Financial, stocks plus crypto trading web app that differentiates itself from other apps by charging absolutely no fees.
A online financial services company launched in the Autumn of 2014 originally as a robo-advisor automated trading platform named Wealthsimple Invest, it has evolved significantly over the past 8 years to also include Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets Canadian investors to trade both single stocks and ETFs without needing to pay any fees. The exception to this is when trading securities that are listed in US Dollars. In which case, they do charge a small currency conversion fee when buying and selling. But, behind us are the times of having to pay $7-12 per trade with digital discount brokerages as was common a couple years past.
Exactly How Much Money Will I Need in Order to Start Investing on Wealthsimple Trade?
Wealthsimple is awesome such that they will allow Canadians to make a minimum deposit of only $1. The majority of traditional banks and brokerages have quite large initial deposit amounts of 1k-$5000. This makes it difficult for the every day new investor to start. With Wealthsimple Trade, you won’t have to be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Offer Registered Accounts?
They do. Wealthsimple Trade offers both registered and non-CRA-registered account types. You are free to select between both RRSP and TFSA accounts during the setup wizard.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a easy to use mobile app available on both iOS and also Google Play. The app makes the enrollment process and the trading of stocks and ETFs truly simple.
So Is Wealthsimple Trade Trustworthy?
Of course. Wealthsimple Trade is trustworthy. Wealthsimple has over 15 billion CAD in Assets Under Management (AUM). They have been doing business for more than 7 years and employs about 600 Canadians. The majority shareholder is the admired public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the first no-fee online discount brokerage to operate in Canada.
How Does One Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly easy to deposit to an account. Just connect the app to a chequing or savings account with your Trade account, then add money to your account in only a couple of steps. Deposits from your bank to Wealthsimple normally take a couple of days. Funds can also be moved to a chequing or savings account by using the same process.
Which Additional Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An alternative to E-transfers which allows anyone to quickly and easily send cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for this tax year and file your taxes online for free. It’s advertised to be simple, accurate and always totally free income tax filing.
Wealthsimple Spend – A combination pre paid debit card and savings product which lets one to get 1% cashback on your spending, as well as earn a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that includes a ton of online courses on topics like saving, investments, crypto, real estate and more.
All of the listed features, including Wealthsimple Trade can be found within the app and from the website with one login.
But How Should I Start With Wealthsimple Trade?
Click here to register for a new Wealthsimple Trade account. For an exclusive signup bonus offer for our readers you’ll receive the equivalent cash value of a random share valued at $25 up to $4,500 Canadian as soon as you deposit to your account.
But What if I Still Have Additional Questions About Wealthsimple 750 Million?
If this article hasn’t given you the answers to all of your questions, and you’re browsing for more specific facts about Wealthsimple 750 Million, check out the Wealthsimple site for answers to every one of your questions.