What is Wealthsimple?
Wealthsimple is a simple to use Canadian digital Financial, stock and crypto trading web app that distinguishes itself from the competition by charging absolutely no fees.
A Toronto, Ontario based online financial services company founded in the Autumn twenty fourteen exclusively as a robo advisor algorithmic automated trading app named Wealthsimple Invest, it has grown significantly over the past eight years to also feature Wealthsimple Trade, a no fee discount brokerage service.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows Canadian investors trade both single stocks and ETFs without needing to pay fees. The exception is when you’re trading ETFs and stocks which are displayed in US Dollars. In this case, they will charge a nominal currency conversion fee when buying and selling. However, gone are the times of having to pay $7-12 per trade with discount brokerages as was common a couple years ago.
Exactly How Much Cash do I Need to Begin Investing With Wealthsimple Trade?
Wealthsimple is special in that they will allow new customers to make a minimum deposit of only $1. The majority of alternative banks and discount brokerages have quite large initial deposit amounts of 1k-$5000. This makes it impossible for the typical investor to start investing. With Wealthsimple Trade, you won’t have to already be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Offer TFSA Accounts?
It does. Wealthsimple Trade has available both registered and non-CRA-registered accounts. You may select between both RRSP and TFSA accounts during the setup wizard.
Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a easy to use mobile app that is offered on both Apple and also Google Play. The mobile app makes the signup phase and trading of stocks and ETFs super a breeze.
But Is Wealthsimple Trade Trustworthy?
Of course. Wealthsimple Trade is safe. Wealthsimple boasts more than 15 billion CAD of Assets Under Management . This company has been expanding for more than 7 years and also right now employs about 600 folks. The main owner is the admired publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fees digital brokerage operating in Canada.
How Can I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite simple to deposit to your account. Just connect the app to a chequing or savings account to your Trade account, then fund your account in only a few clicks. Deposits from financial institutions to Wealthsimple usually take just a couple of days. Funds can just as easily be moved to a chequing or savings accounts using the same steps.
Which Other Benefits and Products Are Available?
Wealthsimple Cash – This is alternative to Interac E-transfers which allow one to quickly and efficiently transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for this tax year and file your taxes online free. It’s described to be easy, accurate and always free tax filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings account that lets you to earn 1% cashback on all your purchases, and also get a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform which includes a ton of different online courses on topics like saving, investing, crypto, home buying and much more.
Each of the above products, along with Wealthsimple Trade may be accessed on the mobile app or at the website with a single login.
So How Can I Get Started With Wealthsimple Trade?
Click here to setup your Wealthsimple Trade account. For an exclusive registration bonus to our readers you will receive the equivalent cash value of a Canadian stock worth $25 up to $4,500 Canadian as soon as you add funds to your account.
So What if I Still Have Additional Questions Concerning Wealthsimple Employees?
If this blog post hasn’t given you the answers to all of your questions, and you’re still looking for more specific info about Wealthsimple Employees, visit the Wealthsimple site for answers to all your questions.