What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online investing, stocks plus crypto trading app that sets itself apart from its competitors by charging absolutely no fees.
A Toronto, Ontario based fintech business launched in Fall of twenty fourteen originally as a robo-advisor trading platform named Wealthsimple Invest, it has improved considerably over the previous eight years to also include Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows Canadian investors to trade stand alone stocks and also ETFs without having to pay fees. The exception to this is when you’re trading securities which are denominated in USD currency. In that case, they do charge a currency conversion fee both when buying and selling. But, behind us are the times of paying Upwards of $7 for each trade with online discount brokerages as was expected only a couple years past.
Exactly How Much in Funds do I Need to Have in Order to Get Started on Wealthsimple Trade?
Wealthsimple is special such that they allow Canadian investors to make a minimum deposit of only $1. The majority of alternative banks and brokerages have large min deposit amounts of 1K-5k. This makes it difficult for the normal new investor to start. With Wealthsimple Trade, one doesn’t need to be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Offer TFSA Accounts?
Yes. Wealthsimple Trade has both CRA registered and non-CRA-registered accounts. You are free to choose between both RRSP and TFSA account types in the setup wizard.
Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a easy to use mobile app available on Apple and also Google Play. The mobile app makes the registration phase and trading of stocks and ETFs truly easy.
Is Wealthsimple Trade Trustworthy?
Yes. Wealthsimple Trade is legit. Wealthsimple has more than 15 billion CAD of Assets Under Management . This company has been in business for more than 7 years and currently employs over 600 folks. The controlling owner is the respected publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital brokerage operating in Canada.
How Can I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very easy to deposit to an account. Just connect to a chequing or savings account to your Trade account, and add funds to your account in just a few steps. Deposits from your bank to Wealthsimple usually take a few days. Funds can also be withdrawn a chequing or savings accounts by using the same process.
What Other Features and Products Are Available?
Wealthsimple Cash – This is alternative to E-transfers that allow one to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for tax season and submit your taxes online for free. It’s pitched to be simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination pre paid visa and savings account which lets you to get 1% cashback on all your purchases, and also earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform which includes a ton of different online courses on topics like saving, investments, crypto, mortgages and more.
All of the mentioned products, along with Wealthsimple Trade can be accessed on the mobile app and from their website with your Wealthsimple login.
So How Should I Begin Using Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. For a special registration bonus offer to our audience you’ll receive the equivalent cash value of a random stock worth up to $4,500 Canadian when you fund your account.
But What if I Still Have Additional Questions Related to Wealthsimple Head Office?
If this blog post still hasn’t given you the answers to all of your questions, and you’re still searching for more answers relating to Wealthsimple Head Office, visit the Wealthsimple website for answers to every one of your questions.