What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based Financial, stocks and crypto trading platform that sets itself apart from the competition by charging absolutely no fees.
A Toronto, Ontario based fintech company founded in the Fall 2014 originally as a robo advisor trading platform called Wealthsimple Invest, it has improved significantly over the last eight years to feature Wealthsimple Trade, a no fees discount brokerage platform.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets consumers trade individual stocks and also ETFs without paying commissions. The exception to this is when trading ETFs and stocks which are denominated in USD. In that case, they do charge a currency conversion fee both when buying and selling. However, gone are the times of having to pay more than $7 per each trade with online discount brokerages as was the case just a couple years ago.
How Much Cash do I Need to Start Investing on Wealthsimple Trade?
Wealthsimple is awesome in that they will allow Canadians to make a minimum deposit of just $1. The majority of alternative banks and discount brokerages have large minimum deposit amounts of $1,000-5k. This makes it impossible for the every day new investor to start investing. With Wealthsimple Trade, you don’t have to be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Have TFSA Accounts?
They do. Wealthsimple Trade offers both registered and non-CRA-registered account types. You can select between both RRSP and TFSA account types in the setup phase.
So Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a modern mobile app that is offered to download on Apple and also Android. The mobile app makes the signup phase and the trading of stocks and ETFs incredibly easy.
Is Wealthsimple Trade Safe?
Of course. Wealthsimple Trade is safe. Wealthsimple boasts in excess of 15 billion CAD of Assets Under Management (AUM). they’ve been doing business for more than 7 years and employs about 600 folks. The main owner is the respected publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade is the first no-fee online discount brokerage operating in Canada.
How Can I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite simple to add funds to your account. Just connect the app to a chequing or savings account with your Trade account, then add money to your account in just a few steps. Deposits from financial institutions to Wealthsimple typically take a couple of days. Funds can the same way can be moved back to a chequing or savings account by the same method.
Which Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to e-Transfers which allows one to quickly and efficiently transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for tax season and submit your taxes online free. It’s advertised as simple, accurate and always free tax filing.
Wealthsimple Spend – A combination prepaid visa and savings product that allows one to earn 1% cashback on your purchases, as well as get a very competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that includes a variety of courses on saving, investments, crypto, mortgages and much more.
Each of the above products, including Wealthsimple Trade may be accessed on the app and at their website with your Wealthsimple login.
How Should I Get Started With Wealthsimple Trade?
Click here to setup a new Wealthsimple Trade account. For a special signup bonus to our audience you’ll get the cash value of a random share worth up to $4,500 Canadian as soon as you deposit to your account.
But What if I Still Have Additional Questions Related to Wealthsimple Qr Code?
If this article still hasn’t given you the answers to each of your questions, and you’re browsing for further answers relating to Wealthsimple Qr Code, check out the Wealthsimple website to get answers to every one of your questions.