What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based investing, securities and crypto trading app that distinguishes itself from similar apps by charging absolutely no fees.
A Toronto, Ontario based fintech business founded in Fall of 2014 exclusively as a robo-advisor algorithmic automated trading platform called Wealthsimple Invest, it has evolved substantially over the last eight years to include Wealthsimple Trade, a no fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets consumers trade both stand alone stocks and also ETFs without needing to pay fees. The exception is when trading stocks and ETFs that are denominated in US Dollars. In that case, they will charge a currency conversion fee both when buying and selling. But, behind us are the times of paying Upwards of $7 per trade with online discount brokerages as was the norm just a few years past.
Exactly How Much Money do I Need to Have to Start With Wealthsimple Trade?
Wealthsimple is unique such that they will allow Canadians to make a minimum deposit of just $1. Most alternative banks and discount brokerages have large initial deposit amounts of 1k-$5000. This makes it hard for the every day new investor to get started. With Wealthsimple Trade, you won’t have to be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Have Registered Accounts?
Yes. Wealthsimple Trade has both registered and non-registered accounts. One are free to select between both RRSP and TFSA accounts in the setup phase.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a well designed mobile app available on IOS and also Google Play. The app makes the registration process and trading of stocks and ETFs truly easy.
So Is Wealthsimple Trade Secure?
Most definitely. Wealthsimple Trade is safe. Wealthsimple reports over 15 billion Canadian of Assets Under Management (AUM). They have been expanding for more than 7 years and also currently employs more than 600 Canadians. The majority owner is the large public Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fee online discount brokerage operating in Canada.
So How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly straight forward to deposit to an account. Simply connect a chequing or savings account to your Trade account, then add money to your account in simply a few steps. Deposits from financial institutions to Wealthsimple usually take a few days. Funds can the same way can be moved to a chequing or savings account with the exact same method.
Which Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to Interac E-transfers that allows anyone to quickly and efficiently transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for this tax season and submit your tax return online free. It’s advertised as easy, accurate and always totally free income tax filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings account that allows one to recieve 1% cashback on all your everyday spending, as well as earn a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which offers a variety of different courses on different topics such as saving, investments, crypto, real estate and much more.
Each of the mentioned products, along with Wealthsimple Trade can be accessed on the mobile app or from the website with a single login.
So How Can I Get Started Using Wealthsimple Trade?
Click here to signup for a Wealthsimple Trade account. For an exclusive registration bonus for our readers you’ll receive the equivalent cash value of a random stock worth $25 up to $4,500 CAD when you add funds to your account.
But What if I Still Have Additional Questions About Wealthsimple Address?
If this blog post didn’t given you the answers to all of your questions, and you’re still looking for additional specific info relating to Wealthsimple Address, visit the Wealthsimple website to find answers to each your questions.