What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian web based Financial, stock and crypto trading platform that differentiates itself from similar apps by charging absolutely no fees.
A Toronto, Ontario based online financial services business founded in Fall of 2014 originally as a robo advisor trading app called Wealthsimple Invest, it has evolved significantly over the last eight years to feature Wealthsimple Trade, a zero fees discount brokerage app.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets investors trade individual stocks and ETFs without having to pay any fees. The exception is when you’re trading stocks and ETFs which are denominated in USD. In that case, they do charge a currency conversion fee when buying and selling. However, past us are the days of having to pay more than $7 for each trade with digital discount brokerages as was normal only a couple years ago.
How Much Cash do I Need to Have to Start With Wealthsimple Trade?
Wealthsimple is awesome such that they will allow Canadian investors to make a minimum deposit of just $1. Most alternative banks and brokerages have sizeable minimum deposit amounts of 1k-5k. This makes it impossible for the normal investor to start investing. With Wealthsimple Trade, you don’t need to be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Offer Registered Accounts?
Yes. Wealthsimple Trade offers registered and non-registered accounts. You may choose both RRSP and TFSA account types in the setup process.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a convenient mobile app available on both Apple and also Android. The mobile app makes the enrollment process and the trading of stocks and ETFs very a breeze.
But Is Wealthsimple Trade Trustworthy?
Most definitely. Wealthsimple Trade is legit. Wealthsimple reports more than 15 billion Canadian of Assets Under Management (AUM). These folks have been expanding for more than 7 years and also right now employs about 600 Canadians. The main shareholder is the respected publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fee online brokerage operating in Canada.
But How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite simple to add funds to an account. Just connect a chequing or savings account to your Trade account, then add money to your account in just a few clicks. Deposits from your bank to Wealthsimple normally take only a couple of days. Funds can just as easily be moved back to your chequing or savings account by using the same process.
Which Additional Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An alternative to E-Transfers that allows one to quickly and simply transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for this tax season and file your tax return online for free. It’s described to be easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination pre paid visa and savings product that lets one to get 1% cashback on your everyday spending, and also get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which offers a ton of different online courses on topics like saving, investments, crypto, real estate and more.
Each of the above products, including Wealthsimple Trade may be found in the mobile app and at the website with your Wealthsimple login.
But How Can I Start With Wealthsimple Trade?
Click here to signup for a Wealthsimple Trade account. As a special signup bonus offer to our audience you’ll receive the equivalent cash value of a share worth up to $4,500 CAD once you deposit to your account.
What if I Still Have Additional Questions About Wealthsimple Market Cap?
If this review still hasn’t given you the answers to each of your questions, and you’re still searching for further specific info relating to Wealthsimple Market Cap, check out the Wealthsimple website to find answers to every one of your questions.