What is Wealthsimple?
Wealthsimple is an easy to use Canadian digital Financial, securities plus crypto trading web app that distinguishes itself from other apps by charging no fees.
A fintech company launched in the Autumn 2014 exclusively as a robo-advisor automated trading app named Wealthsimple Invest, it has grown considerably over the past eight years to feature Wealthsimple Trade, a zero fees discount brokerage platform.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows investors trade individual stocks and also ETFs without having to pay commissions. The exception is when trading stocks and ETFs which are displayed in US Dollars. In which case, they will charge a nominal currency conversion fee both when buying and selling. But, behind us are the times of having to pay Upwards of $7 for each trade with digital discount brokerages as was the case just a few years past.
Exactly How Much Money Will I Need to Start Investing With Wealthsimple Trade?
Wealthsimple is unique such that they will allow investors to make a minimum deposit of just $1. Most traditional banks and discount brokerages have sizeable minimum deposit amounts of 1K-$5000. This makes it impossible for the everyday new investor to start investing. With Wealthsimple Trade, you don’t need to be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Offer TFSA Accounts?
It does. Wealthsimple Trade has CRA registered and non-CRA-registered accounts. You may select both RRSP and TFSA accounts in the setup wizard.
So Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a well designed mobile app offered on both Apple and Android. The smartphone app makes the enrollment process and the trading of stocks and ETFs a breeze.
Is Wealthsimple Trade Legit?
. Wealthsimple Trade is trustworthy. Wealthsimple reports more than 15 billion Canadian in Assets Under Management . they’ve been operating for more than 7 years and also right now employs over 600 Canadians. The controlling owner is the admired publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fees digital discount brokerage operating in Canada.
How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite simple to deposit to a new account. Simply connect a chequing or savings account with your Trade account, then add funds to your account in only a few clicks. Deposits from financial institutions to Wealthsimple normally take only a couple of days. Funds can just as easily be moved back to a chequing or savings account by the same steps.
What Other Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is alternative to Interac e-transfers which allow you to quickly and simply transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for tax season and submit your taxes online free. It’s advertised as simple, accurate and always free tax filing.
Wealthsimple Spend – A combination pre paid visa and savings account that lets one to earn 1% cashback on all your purchases, as well as earn a very competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that offers a bunch of different courses on saving, investing, crypto, home buying and more.
Every one of the above features, including Wealthsimple Trade may be found in the app and from the website with a single login.
How Should I Begin Using Wealthsimple Trade?
Click here to signup for a new Wealthsimple Trade account. As an exclusive signup bonus to our readers you’ll get the cash value of a share worth $25 up to $4,500 Canadian once you add funds to your account.
But What if I Still Have Additional Questions Related to Wealthsimple Funding?
If this article still hasn’t given you the answers to each of your questions, and you’re searching for more specific information about Wealthsimple Funding, visit the Wealthsimple site for answers to all your questions.