What is Wealthsimple?
Wealthsimple is an easy to use Canadian digital investing, securities plus crypto trading app that differentiates itself from other apps by charging absolutely no fees.
A leading Canadian fintech company launched in the Autumn 2014 originally as a robo advisor algorithmic automated trading platform named Wealthsimple Invest, it has improved substantially over the past eight years to also feature Wealthsimple Trade, a no fee discount brokerage platform.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows Canadian investors trade single stocks and also ETFs without paying any fees. The exception is when you’re trading ETFs and stocks which are displayed in USD. In this case, they do charge a nominal currency conversion fee when buying and selling. But, gone are the times of having to pay $7-12 for each trade with discount brokerages as was common only a couple years past.
How Much Cash Will I Need in Order to Start on Wealthsimple Trade?
Wealthsimple is special in that they will allow investors to make a minimum deposit of only $1. Most traditional banks and discount brokerages have large min deposit amounts of 1K-$5,000. This makes it tough for the every day new investor to start. With Wealthsimple Trade, one doesn’t have to be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Offer TFSA Accounts?
It does. Wealthsimple Trade has both registered and non-CRA-registered account types. One are able to select both RRSP and TFSA account types in the setup phase.
But Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a well designed mobile app offered on iOS and also Android. The mobile app makes the registration phase and trading of stocks and ETFs very easy.
But Is Wealthsimple Trade Trustworthy?
Most definitely. Wealthsimple Trade is trustworthy. Wealthsimple has in excess of 15 billion Canadian in Assets Under Management . they’ve been expanding for more than 7 years and at this time employs over 600 people. The main shareholder is the admired publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the first no-fees online discount brokerage operating in Canada.
How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very simple to deposit to your account. Just connect to a chequing or savings account with your Trade account, and then fund your account in just a couple of clicks. Deposits from banks to Wealthsimple typically take just a few days. Funds can just as easily be moved back to your chequing or savings accounts using the exact same process.
Which Additional Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to Interac E-transfers that allow you to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for tax season and file your taxes online free. It’s described to be easy, accurate and always free tax filing.
Wealthsimple Spend – A hybrid prepaid visa and savings account that lets one to earn 1% cashback on your everyday spending, and also earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform which includes a variety of courses on different topics such as saving, investments, crypto, mortgages and more.
All of the listed products, along with Wealthsimple Trade may be accessed in the app and at the site with a single login.
So How Should I Begin Using Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. For an exclusive registration bonus to our readers you will receive the cash value of a random stock worth up to $4,500 Canadian as soon as you make an initial deposit to your account.
What if I Still Have Questions About Wealthsimple Etf?
If this review hasn’t given you the answers to each of your questions, and you’re browsing for further specific information about Wealthsimple Etf, go to the Wealthsimple website for answers to all your questions.