What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian web based Financial, securities and crypto trading platform that distinguishes itself from other apps by charging no fees.
A leading Canadian fintech business launched in the Fall of twenty fourteen originally as a robo-advisor algorithmic automated trading platform called Wealthsimple Invest, it has improved considerably over the past 8 years to also feature Wealthsimple Trade, a zero fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows consumers trade both stand alone stocks and ETFs without having to pay fees. The exception is when you’re trading stocks that are denominated in USD. In which case, they charge a small currency conversion fee when buying and selling. However, behind us are the times of paying Upwards of $7 per trade with discount brokerages as was the norm only a few years ago.
How Much Money do I Need to Have to Start Investing With Wealthsimple Trade?
Wealthsimple is unique in that they will allow investors to make a minimum deposit of just $1. Most alternative banks and discount brokerages have large initial deposit amounts of $1000-5k. This makes it hard for the common new investor to get started. With Wealthsimple Trade, you won’t need to already be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Have Registered Accounts?
It does. Wealthsimple Trade offers both registered and non-registered accounts. You can choose between both RRSP and TFSA accounts in the setup phase.
But Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a modern mobile app offered on both iOS and Android. The mobile app makes the enrollment phase and also trading of stocks and ETFs truly painless.
So Is Wealthsimple Trade Trustworthy?
Definitely. Wealthsimple Trade is safe. Wealthsimple boasts over 15 billion CAD in Assets Under Management . They have been operating for more than 7 years and also now employs roughly 600 folks. The primary owner is the large public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the first no-fee digital brokerage operating in Canada.
How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it simple to fund an account. Simply connect the app to a chequing or savings account to your Trade account, then add funds to your account in only a couple of steps. Deposits from banks to Wealthsimple usually take a couple of days. Funds can also be moved to your chequing or savings accounts using the same method.
Which Other Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An alternative to Interac e-transfers which allows anyone to quickly and efficiently transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for tax year and submit your taxes online free. It’s pitched as simple, accurate and always free income tax filing.
Wealthsimple Spend – A combination pre paid visa and savings account which lets one to earn 1% cashback on your spending, as well as get a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which offers a ton of different online courses on saving, investing, crypto, mortgages and more.
Every one of the above features, along with Wealthsimple Trade can be accessed within the app and at their website with one login.
So How Should I Start Using Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. For a special signup bonus offer for our audience you will receive the cash value of a share worth up to $4,500 Canadian once you make an initial deposit to your account.
So What if I Still Have Questions About Wealthsimple Mutual Funds?
If this review hasn’t given you the answers to each of your questions, and you’re still looking for further specific answers relating to Wealthsimple Mutual Funds, visit the Wealthsimple site to find answers to each your questions.