What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based investing, securities and crypto trading web app that distinguishes itself from the competition by charging no fees.
A Toronto, Ontario based fintech company launched in Autumn of twenty fourteen originally as a robo-advisor automated trading app named Wealthsimple Invest, it has grown considerably over the last eight years to also include Wealthsimple Trade, a no fee discount brokerage service.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets investors to trade individual stocks and also ETFs without paying any fees. The exception to this is when you’re trading stocks which are listed in USD. In this case, they charge a currency conversion fee both when buying and selling. However, gone are the days of paying $7-12 per each trade with discount brokerages as was expected a few years past.
How Much Cash Will I Need to Have in Order to Get Started on Wealthsimple Trade?
Wealthsimple is special such that they allow Canadians to make a minimum deposit of just $1. Most alternative banks and brokerages have quite large initial deposit amounts of $1000-$5000. This makes it difficult for the typical investor to start investing. With Wealthsimple Trade, you don’t have to already be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Have TFSA Accounts?
Of course. Wealthsimple Trade has both registered and non-registered account types. One can choose between both RRSP and TFSA account types in the setup process.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a easy to use mobile app that is offered on both IOS and Google Play. The mobile app makes the signup process and trading of stocks and ETFs incredibly a breeze.
But Is Wealthsimple Trade Secure?
. Wealthsimple Trade is legit. Wealthsimple boasts more than 15 billion CAD of Assets Under Management . they’ve been expanding for more than 7 years and right now employs more than 600 folks. The majority owner is the respected publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fee online brokerage operating in Canada.
How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite easy to add funds to a new account. Simply connect a chequing or savings account with your Trade account, and then add money to your account in only a couple of clicks. Deposits from financial institutions to Wealthsimple typically take only a few days. Funds can the same way can be moved back to your chequing or savings account by using the exact same method.
What Other Features and Products Are Available?
Wealthsimple Cash – An equivalent to e-Transfers which allows anyone to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for this tax season and file your taxes online for free. It’s pitched to be simple, accurate and always totally free tax filing.
Wealthsimple Spend – A hybrid pre paid visa and savings account which lets one to get 1% cashback on all your purchases, and also earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which offers a variety of courses on different topics such as saving, investing, crypto, real estate and much more.
Every one of the listed products, along with Wealthsimple Trade can be accessed inside the mobile app and from their site with your Wealthsimple login.
So How Can I Begin Using Wealthsimple Trade?
Click here to signup for a new Wealthsimple Trade account. As a special signup bonus to our audience you’ll get the equivalent cash value of a random stock worth up to $4,500 CAD when you add funds to your account.
What if I Still Have Questions About Wealthsimple Assets Under Management?
If this blog post hasn’t given you the answers to all of your questions, and you’re browsing for further facts about Wealthsimple Assets Under Management, visit the Wealthsimple website for answers to each your questions.