What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online investing, stock and crypto trading web app that differentiates itself from the competition by charging no fees.
A Toronto, Ontario based fintech business launched in the Autumn 2014 originally as a robo advisor trading platform named Wealthsimple Invest, it has grown significantly over the past 8 years to feature Wealthsimple Trade, a no fee discount brokerage app.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows consumers to trade single stocks and ETFs without needing to pay commissions. The exception to this is when you’re trading stocks which are listed in USD. In that case, they charge a currency conversion fee when buying and selling. However, past us are the times of paying $7-12 per trade with digital discount brokerages as was expected only a couple years ago.
How Much Money do I Need to Begin Investing on Wealthsimple Trade?
Wealthsimple is unique such that they will allow Canadians to make a minimum deposit of just $1. Most traditional banks and discount brokerages have sizeable minimum deposit amounts of $1,000-$5000. This makes it tough for the everyday investor to get started. With Wealthsimple Trade, you don’t need to be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Offer Registered Accounts?
It does. Wealthsimple Trade offers CRA registered and non-CRA-registered account types. One are free to choose both RRSP and TFSA account types during the setup phase.
Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a modern mobile app offered on both IOS and Google Play. The smartphone app makes the enrollment phase and trading of stocks and ETFs easy.
So Is Wealthsimple Trade Secure?
. Wealthsimple Trade is trustworthy. Wealthsimple reports over 15 billion CAD of Assets Under Management (AUM). They have been doing business for more than 7 years and also now employs more than 600 Canadians. The majority shareholder is the admired publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fees digital brokerage to operate in Canada.
But How Does One Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it straight forward to deposit to a new account. Just connect a chequing or savings account to your Trade account, and then add funds to your account in just a couple of clicks. Deposits from banks to Wealthsimple usually take just a few days. Funds can just as easily be moved back to a chequing or savings accounts through the same method.
What Additional Features and Products Are Available?
Wealthsimple Cash – This is equivalent to E-Transfers that allows you to quickly and efficiently transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for this tax year and submit your taxes online free. It’s pitched as simple, accurate and always totally free income tax filing.
Wealthsimple Spend – A hybrid prepaid visa and savings product which lets one to earn 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 offers a ton of online courses on topics like saving, investments, crypto, home buying and much more.
Each of the listed features, including Wealthsimple Trade can be accessed inside the app and on their website with your Wealthsimple login.
But How do I Begin With Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. For an exclusive registration bonus for our audience you will get the cash value of a Canadian stock valued at up to $4,500 Canadian when you fund your account.
What if I Still Have Questions Concerning Wealthsimple 80 Spadina?
If this blog post didn’t answered all of your questions, and you’re searching for additional specific information about Wealthsimple 80 Spadina, check out the Wealthsimple website to find answers to all your questions.