What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based Financial, stocks plus crypto trading platform that sets itself apart from similar apps by charging absolutely no fees.
A leading Canadian online financial services company launched in Fall of 2014 exclusively as a robo-advisor trading app called Wealthsimple Invest, it has grown significantly over the previous 8 years to also include Wealthsimple Trade, a no fees discount brokerage app.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows Canadian consumers trade individual stocks and also ETFs without paying commissions. The exception to this is when you’re trading stocks which are denominated in USD currency. In which case, they do charge a small currency conversion fee both when buying and selling. But, past us are the days of paying Upwards of $7 for each trade with online discount brokerages as was common a few years past.
How Much in Funds do I Need to Start Investing With Wealthsimple Trade?
Wealthsimple is special such that they will allow new customers to make a minimum deposit of only $1. Most traditional banks and brokerages have sizeable initial deposit amounts of $1,000-$5000. This makes it difficult for the normal new investor to start investing. With Wealthsimple Trade, you won’t need to be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Offer Registered Accounts?
It does. Wealthsimple Trade offers both registered and non-registered account types. One can select between both RRSP and TFSA account types during the setup wizard.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a easy to use mobile app that is available to download on IOS and Android. The smartphone app makes the signup process and the trading of stocks and ETFs super painless.
So Is Wealthsimple Trade Secure?
Most definitely. Wealthsimple Trade is trustworthy. Wealthsimple has in excess of 15 billion CAD of Assets Under Management . This company has been doing business for more than 7 years and now employs roughly 600 people. The majority owner is the admired publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fee online discount brokerage operating in Canada.
So How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite easy to fund a new account. Simply connect the app to a chequing or savings account to your Trade account, and add funds to your account in simply a few steps. Deposits from financial institutions to Wealthsimple typically take a few days. Funds can the same way can be moved to your chequing or savings accounts by using the same process.
Which Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is alternative to E-transfers which allow you to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for tax year and file your tax return online for free. It’s described as easy, accurate and always totally free income tax filing.
Wealthsimple Spend – A hybrid pre paid visa and savings product which lets you to recieve 1% cashback on your everyday spending, and also earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that offers a ton of online courses on different topics such as saving, investing, crypto, real estate and much more.
All of the mentioned features, including Wealthsimple Trade can be accessed in the app and on their website with a single login.
But How do I Begin With Wealthsimple Trade?
Click here to register for a new Wealthsimple Trade account. As a special signup bonus offer to our readers you will receive the equivalent cash value of a random Canadian stock valued at up to $4,500 Canadian as soon as you add funds to your account.
But What if I Still Have Questions Related to Wealthsimple Email?
If this review hasn’t answered each of your questions, and you’re still browsing for additional info about Wealthsimple Email, check out the Wealthsimple site to find answers to each your questions.