What is Wealthsimple?
Wealthsimple is an easy to use Canadian digital investing, stock and crypto trading platform that distinguishes itself from the competition by charging absolutely no fees.
A leading Canadian fintech business founded in the Fall twenty fourteen exclusively as a robo advisor algorithmic automated trading app named Wealthsimple Invest, it has improved substantially over the past eight years to include Wealthsimple Trade, a no fee discount brokerage platform.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets Canadian consumers trade individual stocks and ETFs without needing to pay any commissions. The exception to this is when trading stocks that are denominated in USD. In which case, they will charge a nominal currency conversion fee both when buying and selling. But, past us are the times of paying more than $7 for each trade with discount brokerages as was expected just a couple years ago.
How Much in Funds Will I Need to Have in Order to Start Investing on Wealthsimple Trade?
Wealthsimple is special such that they allow Canadian investors to make a minimum deposit of only $1. Many traditional banks and brokerages have large minimum deposit amounts of 1k-5k. This makes it impossible for the common new investor to start investing. With Wealthsimple Trade, one doesn’t have to be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Offer Registered Accounts?
It does. Wealthsimple Trade has available CRA registered and non-CRA-registered account types. One are free to select both RRSP and TFSA account types in the setup phase.
Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a convenient mobile app that is offered on iOS and also Android. The app makes the enrollment process and also the trading of stocks and ETFs incredibly simple.
So Is Wealthsimple Trade Safe?
. Wealthsimple Trade is legit. Wealthsimple reports more than 15 billion CAD in Assets Under Management (AUM). they’ve been doing business for more than 7 years and at this time employs over 600 Canadians. The main shareholder is the large publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fee digital brokerage to operate in Canada.
So How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very simple to deposit to an account. Simply connect to a chequing or savings account with your Trade account, and add funds to your account in only a few steps. Deposits from banks to Wealthsimple typically take a few days. Funds can also be moved to a chequing or savings accounts with the same process.
What Additional Benefits and Products Are Available?
Wealthsimple Cash – An equivalent to e-transfers that allow you to quickly and easily send cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for this tax year and submit your tax return online for free. It’s pitched as easy, accurate and always free income tax filing.
Wealthsimple Spend – A combination prepaid visa and savings account that allows one to earn 1% cashback on all your spending, as well as earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which offers a ton of courses on saving, investing, crypto, real estate and more.
Every one of the mentioned products, including Wealthsimple Trade may be found on the mobile app and at the website with one login.
So How Can I Begin Using Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. As an exclusive registration bonus offer for our audience you will receive the cash value of a random stock valued at $25 up to $4,500 Canadian when you deposit to your account.
What if I Still Have Questions About Wealthsimple Customer Service?
If this review hasn’t given you the answers to all of your questions, and you’re still looking for additional answers about Wealthsimple Customer Service, check out the Wealthsimple website to find answers to every one of your questions.