What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian online Financial, stocks plus crypto trading platform that distinguishes itself from the competition by charging absolutely no fees.
A online financial services business launched in the Autumn of 2014 exclusively as a robo advisor trading app named Wealthsimple Invest, it has grown considerably over the past eight years to include Wealthsimple Trade, a no fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets Canadian consumers trade both single stocks and ETFs without having to pay any fees. The exception is when you’re trading ETFs and stocks which are denominated in USD. In this case, they do charge a currency conversion fee when buying and selling. But, behind us are the days of paying $7-12 per each trade with discount brokerages as was common only a few years ago.
How Much in Funds do I Need to Start Investing With Wealthsimple Trade?
Wealthsimple is special in that they will allow Canadian investors to make a minimum deposit of only $1. Many traditional banks and brokerages have sizeable min deposit amounts of 1k-5K. This makes it tough for the everyday investor to get started. With Wealthsimple Trade, one doesn’t have to already be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Offer Registered Accounts?
Of course. Wealthsimple Trade has both CRA registered and non-registered account types. You are free to select both RRSP and TFSA account types in the setup phase.
So Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a easy to use mobile app that is offered on iOS and also Google Play. The mobile app makes the registration steps and also trading of stocks and ETFs super a breeze.
So Is Wealthsimple Trade Safe?
Definitely. Wealthsimple Trade is legit. Wealthsimple reports over 15 billion Canadian in Assets Under Management (AUM). They have been doing business for more than 7 years and also employs roughly 600 people. The primary owner is the large public Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital discount brokerage operating in Canada.
So How Can I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly simple to deposit to your account. Simply connect the app to a chequing or savings account with your Trade account, and add money to your account in simply a few clicks. Deposits from your bank to Wealthsimple normally take a few days. Funds can the same way can be withdrawn your chequing or savings accounts through the same process.
Which Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – An alternative to e-transfers that allow you to quickly and simply send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for tax season and file your taxes online free. It’s advertised as easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination pre paid debit card and savings product which allows one to get 1% cashback on all 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 that offers a variety of online courses on different topics such as saving, investing, crypto, real estate and more.
Each of the mentioned features, along with Wealthsimple Trade may be accessed within the app and from their website with a single login.
So How do I Get Started Using Wealthsimple Trade?
Click here to signup for a Wealthsimple Trade account. As an exclusive registration bonus offer to our audience you will receive the cash value of a random stock worth $25 up to $4,500 Canadian once you deposit to your account.
So What if I Still Have Questions Concerning Wealthsimple Jobs?
If this review still hasn’t answered each of your questions, and you’re browsing for additional specific info relating to Wealthsimple Jobs, visit the Wealthsimple website to find answers to every one of your questions.