What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian online Financial, securities and crypto trading platform that distinguishes itself from similar apps by charging no fees.
A leading Canadian online financial services company founded in the Autumn of 2014 originally as a robo advisor trading app named Wealthsimple Invest, it has evolved substantially over the previous eight years to feature Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows investors trade both individual stocks and ETFs without needing to pay any fees. The exception is when you’re trading stocks that are displayed in US Dollars. In this case, they charge a nominal currency conversion fee when buying and selling. But, gone are the times of having to pay Upwards of $7 per each trade with digital discount brokerages as was the case only a few years past.
How Much Cash do I Need to Start Investing on Wealthsimple Trade?
Wealthsimple is unique in that they allow new customers to make a minimum deposit of only $1. Many alternative banks and brokerages have sizeable minimum deposit amounts of 1K-$5000. This makes it impossible for the common investor to start investing. With Wealthsimple Trade, you won’t need to already be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Offer Registered Accounts?
Yes. Wealthsimple Trade offers registered and non-registered account types. One may select between both RRSP and TFSA accounts in the setup phase.
But Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a convenient mobile app that is available to download on both Apple and also Google Play. The app makes the enrollment phase and trading of stocks and ETFs a breeze.
But Is Wealthsimple Trade Legit?
. Wealthsimple Trade is trustworthy. Wealthsimple boasts in excess of 15 billion CAD of Assets Under Management . they’ve been expanding for more than 7 years and also currently employs over 600 folks. The controlling owner is the respected publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fees digital discount brokerage to operate in Canada.
But How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite easy to fund a new account. Simply connect the app to a chequing or savings account to your Trade account, then fund your account in just a few clicks. Deposits from financial institutions to Wealthsimple usually take only a few days. Funds can just as easily be withdrawn a chequing or savings accounts with the exact same process.
What Additional Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An equivalent to E-Transfers which allow one to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for this tax year and file your taxes online for free. It’s described as easy, accurate and always free tax filing.
Wealthsimple Spend – A combination pre paid visa and savings product which allows you to get 1% cashback on all your purchases, as well as get a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform which includes a bunch of different online courses on saving, investments, crypto, real estate and much more.
Every one of the listed features, including Wealthsimple Trade can be accessed on the app or at their site with a single login.
So How do I Start Using Wealthsimple Trade?
Click here to create a new Wealthsimple Trade account. As an exclusive registration bonus to our readers you’ll get the cash value of a random share valued at $25 up to $4,500 Canadian as soon as you make an initial deposit to your account.
What if I Still Have Questions Related to Wealthsimple 80/20?
If this review hasn’t answered all of your questions, and you’re browsing for additional specific info relating to Wealthsimple 80/20, visit the Wealthsimple website to get answers to all your questions.