What is Wealthsimple?
Wealthsimple is a simple to use Canadian online investing, securities and crypto trading platform that differentiates itself from its competitors by charging no fees.
A Toronto, Ontario based fintech company launched in the Autumn 2014 exclusively as a robo-advisor algorithmic automated trading app named Wealthsimple Invest, it has grown substantially over the last eight years to feature Wealthsimple Trade, a zero fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets Canadian investors trade both stand alone stocks and also ETFs without paying any fees. The exception is when trading ETFs and stocks that are listed in USD. In this case, they charge a small currency conversion fee when buying and selling. But, past us are the times of paying $7-12 for each trade with digital discount brokerages as was common a couple years past.
Exactly How Much Cash Will I Need to Have in Order to Start on Wealthsimple Trade?
Wealthsimple is unique in that they allow Canadian investors to make a minimum deposit of only $1. Most alternative banks and discount brokerages have quite large min deposit amounts of 1k-5k. This makes it tough for the typical new investor to start. With Wealthsimple Trade, you won’t need to be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Offer TFSA Accounts?
It does. Wealthsimple Trade offers both CRA registered and non-registered accounts. One are free to choose both RRSP and TFSA accounts during the setup phase.
So Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a modern mobile app that is offered to download on iOS and Android. The mobile app makes the signup phase and also the trading of stocks and ETFs truly a breeze.
So Is Wealthsimple Trade Secure?
Most definitely. Wealthsimple Trade is trustworthy. Wealthsimple has more than 15 billion Canadian of Assets Under Management . These folks have been operating for more than 7 years and right now employs roughly 600 people. The primary shareholder is the admired public Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fee digital discount brokerage operating in Canada.
How Can I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it straight forward to add money to a new account. Simply connect to a chequing or savings account with your Trade account, and fund your account in just a few clicks. Deposits from banks to Wealthsimple usually take a couple of days. Funds can just as easily be moved back to a chequing or savings accounts by using the same method.
What Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to E-transfers that allows you to quickly and simply transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for this tax season and submit your tax return online free. It’s described to be simple, accurate and always totally free income tax filing.
Wealthsimple Spend – A combination pre paid debit card and savings account that allows one to earn 1% cashback on all your everyday purchases, and also earn a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform which offers a ton of different online courses on different topics such as saving, investments, crypto, real estate and much more.
Every one of the listed features, including Wealthsimple Trade can be accessed inside the mobile app or at the website with your Wealthsimple login.
So How Should I Get Started With Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. For an exclusive registration bonus offer for our audience you will get the cash value of a share valued at $25 up to $4,500 CAD once you add funds to your account.
What if I Still Have Questions Concerning Wealthsimple Fractional Shares?
If this blog post hasn’t given you the answers to each of your questions, and you’re browsing for more specific answers about Wealthsimple Fractional Shares, visit the Wealthsimple site to get answers to each your questions.