What is Wealthsimple?
Wealthsimple is an easy to use Canadian digital investing, stock and crypto trading app that differentiates itself from its competitors by charging absolutely no fees.
A leading Canadian fintech business founded in Fall 2014 exclusively as a robo advisor algorithmic trading app named Wealthsimple Invest, it has grown considerably over the last 8 years to feature Wealthsimple Trade, a no fee discount brokerage app.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows consumers trade both individual stocks and also ETFs without having to pay fees. The exception to this is when trading stocks and ETFs that are denominated in USD currency. In which case, they do charge a currency conversion fee both when buying and selling. However, gone are the times of having to pay Upwards of $7 for each trade with digital discount brokerages as was expected a couple years past.
Exactly How Much Money do I Need to Get Started on Wealthsimple Trade?
Wealthsimple is cool in that they allow Canadian investors to make a minimum deposit of just $1. Most alternative banks and discount brokerages have large initial deposit amounts of 1K-5K. This makes it difficult for the common investor to get started. With Wealthsimple Trade, you don’t have to be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Have RRSP Accounts?
Yes. Wealthsimple Trade has both registered and non-registered account types. One are able to select between both RRSP and TFSA accounts during the setup process.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a modern mobile app offered to download on both Apple and also Android. The app makes the registration phase and also the trading of stocks and ETFs painless.
So Is Wealthsimple Trade Safe?
For sure. Wealthsimple Trade is trustworthy. Wealthsimple boasts over 15 billion CAD in Assets Under Management (AUM). This company has been doing business for more than 7 years and also currently employs more than 600 people. The primary owner is the respected publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fee digital brokerage operating in Canada.
How Does One Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite easy to deposit to a new account. Just connect the app to a chequing or savings account with your Trade account, and add money to your account in just a few steps. Deposits from your bank to Wealthsimple typically take only a few days. Funds can the same way can be withdrawn a chequing or savings account by the same process.
What Other Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – An alternative to Interac E-transfers which allow one to quickly and simply send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for this tax year and submit your tax return online for free. It’s pitched as easy, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings account which allows you to get 1% cashback on your everyday purchases, as well as earn a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that offers a variety of online courses on saving, investments, crypto, real estate and much more.
All of the listed products, along with Wealthsimple Trade may be accessed inside the app and at the website with a single login.
How Can I Get Started Using Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. As an exclusive signup bonus to our audience you will get the equivalent cash value of a Canadian stock valued at $25 up to $4,500 CAD when you make an initial deposit to your account.
So What if I Still Have Questions About Wealthsimple Dividend Stocks?
If this review didn’t given you the answers to all of your questions, and you’re browsing for further info relating to Wealthsimple Dividend Stocks, visit the Wealthsimple website to find answers to each your questions.