What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based investing, securities and crypto trading platform that sets itself apart from its competitors by charging absolutely no fees.
A Toronto, Ontario based online financial services company launched in the Autumn of 2014 originally as a robo advisor algorithmic trading app called Wealthsimple Invest, it has evolved considerably over the past eight years to feature Wealthsimple Trade, a zero fee discount brokerage app.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets consumers to trade both single stocks and ETFs without needing to pay any fees. The exception to this is when you’re trading stocks that are listed in US Dollars. In that case, they will charge a currency conversion fee both when buying and selling. However, past us are the days of paying $7-12 per each trade with online discount brokerages as was the case just a few years ago.
How Much in Funds do I Need to Have to Begin Investing on Wealthsimple Trade?
Wealthsimple is awesome such that they allow new customers to make a minimum deposit of just $1. The majority of alternative banks and discount brokerages have quite large min deposit amounts of $1000-$5000. This makes it impossible for the typical new investor to start investing. With Wealthsimple Trade, you don’t need to already be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Offer TFSA Accounts?
Yes. Wealthsimple Trade has both CRA registered and non-CRA-registered accounts. You are free to select both RRSP and TFSA account types during the setup phase.
Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a convenient mobile app that is offered to download on both iOS and Google Play. The mobile app makes the registration steps and trading of stocks and ETFs simple.
But Is Wealthsimple Trade Trustworthy?
Of course. Wealthsimple Trade is safe. Wealthsimple boasts in excess of 15 billion Canadian of Assets Under Management . They have been operating for more than 7 years and at this time employs about 600 Canadians. The controlling shareholder is the large public Canadian company Power Corp of Canada. Weapthsimple Trade was the first no-fees online brokerage operating in Canada.
So How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so straight forward to fund a new account. Simply connect a chequing or savings account to your Trade account, then fund your account in just a couple of steps. Deposits from financial institutions to Wealthsimple usually take only a few days. Funds can also be withdrawn your chequing or savings account by the same steps.
Which Other Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is alternative to Interac E-Transfers that allows one to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for this tax season and file your tax return online free. It’s advertised as simple, accurate and always totally free income tax filing.
Wealthsimple Spend – A combination prepaid debit card and savings account that allows you to get 1% cashback on your everyday purchases, as well as earn a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that offers a variety of different courses on different topics such as saving, investing, crypto, mortgages and much more.
Every one of the above features, including Wealthsimple Trade can be accessed inside the mobile app or at their website with one login.
But How do I Get Started Using Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. As a special registration bonus offer for our audience you’ll get the cash value of a Canadian stock worth up to $4,500 CAD as soon as you fund your account.
What if I Still Have Additional Questions Related to Wealthsimple Careers?
If this review hasn’t answered each of your questions, and you’re still browsing for more info about Wealthsimple Careers, check out the Wealthsimple website for answers to every one of your questions.