What is Wealthsimple?
Wealthsimple is a simple to use Canadian web based investing, securities plus crypto trading app that differentiates itself from the competition by charging absolutely no fees.
A Toronto, Ontario based fintech company founded in the Fall of twenty fourteen exclusively as a robo advisor algorithmic automated trading app named Wealthsimple Invest, it has improved significantly over the past 8 years to also feature Wealthsimple Trade, a zero fee discount brokerage app.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows investors to trade individual stocks and also ETFs without needing to pay any fees. The exception is when trading securities which are listed in US Dollars. In which case, they will charge a currency conversion fee both when buying and selling. However, past us are the times of paying $7-12 per each trade with online discount brokerages as was common only a few years ago.
Exactly How Much in Funds Will I Need to Have in Order to Start Investing on Wealthsimple Trade?
Wealthsimple is special in that they allow new customers to make a minimum deposit of only $1. The majority of traditional banks and brokerages have sizeable initial deposit amounts of 1K-5k. This makes it tough for the everyday new investor to start investing. With Wealthsimple Trade, you won’t need to already be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Have TFSA Accounts?
Of course. Wealthsimple Trade has available CRA registered and non-CRA-registered accounts. One can choose between both RRSP and TFSA accounts during the setup process.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a well designed mobile app that is available to download on Apple and Google Play. The mobile app makes the registration steps and trading of stocks and ETFs super painless.
Is Wealthsimple Trade Safe?
Of course. Wealthsimple Trade is legit. Wealthsimple boasts more than 15 billion Canadian in Assets Under Management . This company has been operating for more than 7 years and also currently employs about 600 folks. The primary owner is the publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade is the very first no-fees digital brokerage to operate in Canada.
So How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so straight forward to add funds to an account. Simply connect to a chequing or savings account to your Trade account, and add money to your account in just a couple of clicks. Deposits from financial institutions to Wealthsimple normally take only a few days. Funds can the same way can be moved back to a chequing or savings accounts through the exact same method.
Which Additional Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An alternative to E-transfers that allow anyone to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for this tax season and submit your tax return online for free. It’s advertised to be easy, accurate and always totally free income tax filing.
Wealthsimple Spend – A combination prepaid debit card and savings account which allows one to recieve 1% cashback on your everyday purchases, as well as earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that offers a variety of courses on topics like saving, investments, crypto, mortgages and more.
All of the mentioned features, including Wealthsimple Trade may be accessed within the mobile app or on the website with a single login.
So How Can I Begin Using Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. For a special registration bonus for our readers you will receive the equivalent cash value of a random Canadian stock valued at up to $4,500 CAD as soon as you add funds to your account.
What if I Still Have Questions Related to Wealthsimple For Us?
If this review hasn’t given you the answers to each of your questions, and you’re still looking for more specific facts relating to Wealthsimple For Us, go to the Wealthsimple site to get answers to all your questions.