What is Wealthsimple?
Wealthsimple is a simple to use Canadian web based investing, securities and crypto trading platform that sets itself apart from the competition by charging no fees.
A leading Canadian online financial services business launched in Autumn twenty fourteen exclusively as a robo-advisor algorithmic automated trading app called Wealthsimple Invest, it has evolved significantly over the previous 8 years to include Wealthsimple Trade, a zero fees discount brokerage service.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows consumers to trade both stand alone stocks and ETFs without paying fees. The exception to this is when trading ETFs and stocks which are listed in USD currency. In which case, they do charge a nominal currency conversion fee when buying and selling. But, past us are the days of paying more than $7 for each trade with discount brokerages as was the norm a couple years ago.
How Much Cash Will I Need to Begin Investing With Wealthsimple Trade?
Wealthsimple is unique such that they will allow Canadian investors to make a minimum deposit of just $1. Most traditional banks and brokerages have large minimum deposit amounts of $1000-5k. This makes it difficult for the normal investor to start investing. With Wealthsimple Trade, one doesn’t need to already be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Have TFSA Accounts?
They do. Wealthsimple Trade offers registered and non-CRA-registered accounts. One can select both RRSP and TFSA accounts in the setup process.
So Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a well designed mobile app that is available on both iOS and also Google Play. The mobile app makes the registration process and also the trading of stocks and ETFs super simple.
Is Wealthsimple Trade Trustworthy?
Yes. Wealthsimple Trade is safe. Wealthsimple reports over 15 billion CAD of Assets Under Management . These folks have been in business for more than 7 years and also employs more than 600 folks. The majority shareholder is the large public Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fees digital brokerage to operate in Canada.
But How Can I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it simple to add funds to your account. Simply connect the app to a chequing or savings account to your Trade account, then add money to your account in only a few steps. Deposits from banks to Wealthsimple usually take just a few days. Funds can also be moved back to your chequing or savings accounts by the exact same steps.
Which Additional Features and Products Are Available?
Wealthsimple Cash – An equivalent to e-transfers that allows anyone to quickly and easily send cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for this tax year and file your tax return online free. It’s pitched as easy, accurate and always free tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings account that lets one to recieve 1% cashback on your everyday purchases, and also earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform which offers a variety of online courses on topics like saving, investing, crypto, mortgages and more.
Each of the listed products, including Wealthsimple Trade may be found inside the app and from their site with your Wealthsimple login.
But How Should I Start Using Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. As an exclusive signup bonus offer to our readers you’ll get the cash value of a stock valued at $25 up to $4,500 Canadian once you fund your account.
So What if I Still Have Questions Related to Wealthsimple Login Trackid=sp-006?
If this article didn’t given you the answers to each of your questions, and you’re looking for further answers relating to Wealthsimple Login Trackid=sp-006, check out the Wealthsimple website to get answers to each your questions.