What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital investing, stocks plus crypto trading web app that sets itself apart from its competitors by charging no fees.
A leading Canadian fintech company founded in the Fall 2014 exclusively as a robo-advisor trading platform called Wealthsimple Invest, it has grown considerably over the past eight years to include Wealthsimple Trade, a no fee discount brokerage service.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows Canadian investors to trade individual stocks and also ETFs without paying fees. The exception is when trading ETFs and stocks that are displayed in USD currency. In that case, they charge a small currency conversion fee when buying and selling. But, gone are the days of paying Upwards of $7 per each trade with online discount brokerages as was normal only a few years ago.
How Much in Funds Will I Need to Start Investing With Wealthsimple Trade?
Wealthsimple is unique in that they will allow new customers to make a minimum deposit of only $1. Most traditional banks and brokerages have large minimum deposit amounts of $1,000-$5000. This makes it difficult for the everyday investor to start investing. With Wealthsimple Trade, you won’t have to already be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Have TFSA Accounts?
Of course. Wealthsimple Trade has available both CRA registered and non-CRA-registered accounts. One can choose both RRSP and TFSA account types during the setup phase.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a well designed mobile app that is offered to download on both IOS and also Android. The app makes the signup steps and the trading of stocks and ETFs super simple.
Is Wealthsimple Trade Safe?
. Wealthsimple Trade is secure. Wealthsimple has more than 15 billion CAD of Assets Under Management . This company has been expanding for more than 7 years and also right now employs roughly 600 folks. The controlling owner is the respected public Canadian corporation Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital brokerage to operate in Canada.
But How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly easy to deposit to your account. Simply connect the app to a chequing or savings account with your Trade account, and then add money to your account in simply a few clicks. Deposits from financial institutions to Wealthsimple usually take only a couple of days. Funds can the same way can be moved back to a chequing or savings account by using the same process.
What Other Benefits and Products Are Available?
Wealthsimple Cash – An alternative to Interac E-Transfers that allows you to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for this tax season and file your tax return online free. It’s described as easy, accurate and always free tax filing.
Wealthsimple Spend – A combination pre paid visa and savings product which lets you to recieve 1% cashback on your purchases, and also earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that includes a variety of different online courses on topics like saving, investments, crypto, home buying and more.
All of the mentioned products, including Wealthsimple Trade may be found inside the app and at the site with one login.
How Should I Get Started Using Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. For an exclusive registration bonus for our readers you will receive the cash value of a share valued at up to $4,500 CAD as soon as you fund your account.
So What if I Still Have Questions Related to Wealthsimple Instagram?
If this article hasn’t given you the answers to each of your questions, and you’re still browsing for further specific facts relating to Wealthsimple Instagram, visit the Wealthsimple site to get answers to each your questions.