What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online investing, securities plus crypto trading web app that distinguishes itself from other apps by charging no fees.
A Toronto, Ontario based online financial services company founded in Fall 2014 exclusively as a robo advisor algorithmic automated trading app named Wealthsimple Invest, it has grown significantly over the last eight years to include Wealthsimple Trade, a zero fees discount brokerage service.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets investors trade both individual stocks and also ETFs without paying fees. The exception is when you’re trading ETFs and stocks that are listed in US Dollars. In that case, they do charge a small currency conversion fee both when buying and selling. But, past us are the times of having to pay Upwards of $7 per trade with discount brokerages as was the norm a couple years ago.
Exactly How Much Money Will I Need in Order to Begin Investing With Wealthsimple Trade?
Wealthsimple is awesome in that they will allow Canadians to make a minimum deposit of just $1. Many traditional banks and discount brokerages have large minimum deposit amounts of 1k-5k. This makes it impossible for the every day investor to start. With Wealthsimple Trade, you won’t need to be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Have RRSP Accounts?
Of course. Wealthsimple Trade has CRA registered and non-registered accounts. One may select both RRSP and TFSA accounts in the setup wizard.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a convenient mobile app available to download on iOS and also Google Play. The mobile app makes the registration phase and the trading of stocks and ETFs truly easy.
So Is Wealthsimple Trade Trustworthy?
Definitely. Wealthsimple Trade is secure. Wealthsimple boasts more than 15 billion CAD in Assets Under Management . These folks have been doing business for more than 7 years and also right now employs about 600 folks. The majority shareholder is the respected public Canadian entity Power Corp of Canada. Weapthsimple Trade was the very first no-fees online brokerage to operate in Canada.
So How Does One Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very easy to add funds to a new account. Just connect a chequing or savings account with your Trade account, then add money to your account in only a few clicks. Deposits from banks to Wealthsimple usually take a few days. Funds can also be moved back to your chequing or savings account by the exact same steps.
What Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An equivalent to Interac E-Transfers which allow anyone to quickly and efficiently transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for this tax season and file your taxes online free. It’s pitched to be easy, accurate and always free tax filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings account which lets you to get 1% cashback on your spending, as well as get a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that offers a ton of different online courses on different topics such as saving, investments, crypto, mortgages and much more.
All of the listed products, including Wealthsimple Trade can be accessed in the app and from their website with one login.
So How do I Get Started Using Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. As a special signup bonus offer to our readers you’ll receive the cash value of a share valued at $25 up to $4,500 Canadian as soon as you add funds to your account.
But What if I Still Have Additional Questions About Wealthsimple Returns?
If this blog post hasn’t given you the answers to each of your questions, and you’re still looking for additional facts about Wealthsimple Returns, go to the Wealthsimple site for answers to all your questions.