What is Wealthsimple?
Wealthsimple is a simple to use Canadian online investing, stock plus crypto trading platform that sets itself apart from its competitors by charging absolutely no fees.
A Toronto, Ontario based online financial services business founded in Autumn twenty fourteen exclusively as a robo-advisor automated trading app called Wealthsimple Invest, it has improved significantly over the previous eight years to also include Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows Canadian consumers to trade both stand alone stocks and ETFs without having to pay any fees. The exception to this is when you’re trading ETFs and stocks which are listed in US Dollars. In which case, they do charge a small currency conversion fee both when buying and selling. However, past us are the days of having to pay $7-12 per each trade with online discount brokerages as was expected just a couple years ago.
How Much Cash Will I Need to Have in Order to Start Investing With Wealthsimple Trade?
Wealthsimple is cool such that they allow Canadians to make a minimum deposit of just $1. The majority of alternative banks and discount brokerages have quite large minimum deposit amounts of 1K-5k. This makes it difficult for the typical investor to get started. With Wealthsimple Trade, you don’t need to already be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Offer RRSP Accounts?
It does. Wealthsimple Trade has available registered and non-registered accounts. You are free to choose both RRSP and TFSA accounts during the setup phase.
So Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a easy to use mobile app that is available on iOS and also Android. The app makes the registration steps and also the trading of stocks and ETFs incredibly simple.
Is Wealthsimple Trade Safe?
Yes. Wealthsimple Trade is trustworthy. Wealthsimple has more than 15 billion CAD of Assets Under Management (AUM). These folks have been doing business for more than 7 years and also employs over 600 folks. The controlling shareholder is the respected publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade is the very first no-fee online 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 add funds to your account. Simply connect the app to a chequing or savings account to your Trade account, and then fund your account in just a couple of clicks. Deposits from financial institutions to Wealthsimple usually take a couple of days. Funds can just as easily be moved back to a chequing or savings accounts with the same steps.
Which Other Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – An alternative to E-Transfers which allow you to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for this tax season and file your tax return online for free. It’s pitched as easy, accurate and always free tax filing.
Wealthsimple Spend – A hybrid pre paid visa and savings product which lets you to recieve 1% cashback on your everyday spending, as well as get a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that offers a variety of online courses on different topics such as saving, investments, crypto, real estate and more.
All of the mentioned products, including Wealthsimple Trade can be accessed in the app and from the website with one login.
How Should I Start With Wealthsimple Trade?
Click here to create a Wealthsimple Trade account. As a special registration bonus offer to our audience you’ll receive the equivalent cash value of a share valued at up to $4,500 CAD when you make an initial deposit to your account.
What if I Still Have Additional Questions Related to Wealthsimple Brand Guidelines?
If this article still hasn’t given you the answers to each of your questions, and you’re still browsing for more specific info about Wealthsimple Brand Guidelines, go to the Wealthsimple site to get answers to every one of your questions.