What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian web based Financial, stocks and crypto trading app that distinguishes itself from similar apps by charging absolutely no fees.
A leading Canadian online financial services company founded in the Autumn twenty fourteen exclusively as a robo-advisor algorithmic automated trading platform named Wealthsimple Invest, it has grown substantially over the previous eight years to also feature Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade allows investors trade stand alone stocks and ETFs without having to pay commissions. The exception to this is when trading stocks and ETFs that are displayed in USD. In that case, they will charge a currency conversion fee when buying and selling. However, behind us are the days of having to pay Upwards of $7 per each trade with discount brokerages as was the norm a few years ago.
How Much Cash do I Need to Have in Order to Start Investing With Wealthsimple Trade?
Wealthsimple is cool in that they will allow investors to make a minimum deposit of just $1. Most alternative banks and brokerages have sizeable minimum deposit amounts of 1K-$5000. This makes it difficult for the typical new investor to start. With Wealthsimple Trade, one doesn’t need to be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Offer TFSA Accounts?
Of course. Wealthsimple Trade offers registered and non-CRA-registered account types. One can select both RRSP and TFSA account types during the setup phase.
But Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a convenient mobile app that is available to download on iOS and Android. The app makes the signup steps and the trading of stocks and ETFs super easy.
So Is Wealthsimple Trade Legit?
Yes. Wealthsimple Trade is trustworthy. Wealthsimple reports more than 15 billion Canadian in Assets Under Management . They have been in business for more than 7 years and also right now employs about 600 Canadians. The main owner is the admired publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fee online brokerage operating in Canada.
So How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly easy to add funds to your new account. Just connect the app to a chequing or savings account to your Trade account, then add money to your account in just a couple of steps. Deposits from financial institutions to Wealthsimple typically take only a few days. Funds can the same way can be moved to your chequing or savings accounts using the same method.
What Additional Benefits and Products Are Available?
Wealthsimple Cash – An alternative to E-transfers which allows one to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for this tax season and file your taxes online free. It’s advertised to be easy, accurate and always free income tax filing.
Wealthsimple Spend – A combination prepaid visa and savings product which lets one to earn 1% cashback on your everyday spending, as well as get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform which offers a ton of different courses on different topics such as saving, investing, crypto, mortgages and much more.
All of the mentioned products, including Wealthsimple Trade can be found within the mobile app or from their site with a single login.
But How Can I Start Using Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. For a special signup bonus offer to our audience you will get the cash value of a share worth $25 up to $4,500 Canadian as soon as you deposit to your account.
What if I Still Have Additional Questions Concerning Wealthsimple Founder?
If this article hasn’t answered all of your questions, and you’re still searching for more information relating to Wealthsimple Founder, go to the Wealthsimple site for answers to every one of your questions.