What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian online investing, securities and crypto trading web app that sets itself apart from the competition by charging absolutely no fees.
A Toronto, Ontario based fintech company launched in Fall twenty fourteen originally as a robo advisor algorithmic automated trading app named Wealthsimple Invest, it has changed considerably over the past eight years to include Wealthsimple Trade, a no fee discount brokerage app.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows consumers trade both stand alone stocks and ETFs without needing to pay fees. The exception to this is when trading stocks that are denominated in USD currency. In that case, they will charge a currency conversion fee both when buying and selling. But, behind us are the times of having to pay $7-12 per each trade with discount brokerages as was normal just a couple years ago.
How Much Money Will I Need to Have in Order to Begin Investing With Wealthsimple Trade?
Wealthsimple is unique such that they will allow Canadian investors to make a minimum deposit of just $1. The majority of alternative banks and brokerages have sizeable initial deposit amounts of 1K-$5,000. This makes it difficult for the everyday new investor to get started. With Wealthsimple Trade, you won’t need to already be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Have RRSP Accounts?
Yes. Wealthsimple Trade offers registered and non-CRA-registered accounts. One may select between both RRSP and TFSA accounts during the setup process.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a well designed mobile app that is available on both IOS and Android. The mobile app makes the enrollment steps and trading of stocks and ETFs super a breeze.
So Is Wealthsimple Trade Secure?
Of course. Wealthsimple Trade is trustworthy. Wealthsimple has more than 15 billion CAD in Assets Under Management (AUM). They have been expanding for more than 7 years and also currently employs about 600 Canadians. The main owner is the large publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade is the first no-fee digital brokerage operating in Canada.
So How Can I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it easy to add money to your new account. Just connect a chequing or savings account with your Trade account, then fund your account in simply a few steps. Deposits from banks to Wealthsimple usually take a few days. Funds can also be moved to a chequing or savings account with the same process.
What Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to E-transfers which 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 tax return online for free. It’s advertised to be easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A hybrid pre paid visa and savings account which allows one to recieve 1% cashback on all your purchases, and also get a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform which offers a bunch of different online courses on different topics such as saving, investing, crypto, home buying and more.
All of the above products, including Wealthsimple Trade may be found in the mobile app and on the site with a single login.
But How do I Get Started Using Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. As an exclusive signup bonus offer for our readers you will receive the cash value of a random Canadian stock valued at up to $4,500 Canadian when you fund your account.
But What if I Still Have Additional Questions About Wealthsimple Affiliate Program?
If this article hasn’t answered all of your questions, and you’re still looking for additional specific information relating to Wealthsimple Affiliate Program, visit the Wealthsimple site to get answers to every one of your questions.