What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian web based Financial, stock plus crypto trading platform that differentiates itself from the competition by charging no fees.
A Toronto, Ontario based fintech business launched in Autumn 2014 originally as a robo-advisor algorithmic automated trading app called Wealthsimple Invest, it has improved considerably over the past 8 years to feature Wealthsimple Trade, a zero fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets Canadian investors to trade stand alone stocks and also ETFs without needing to pay commissions. The exception is when you’re trading ETFs and stocks that are denominated in USD. In this case, they charge a nominal currency conversion fee both when buying and selling. However, past us are the days of paying $7-12 for each trade with online discount brokerages as was common a few years past.
How Much Money do I Need to Have to Start on Wealthsimple Trade?
Wealthsimple is special such that they allow Canadians to make a minimum deposit of just $1. Most alternative banks and discount brokerages have sizeable initial deposit amounts of $1000-5k. This makes it difficult for the everyday new investor to start. With Wealthsimple Trade, you won’t need to be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Offer RRSP Accounts?
They do. Wealthsimple Trade has available both CRA registered and non-registered account types. One are free to choose between both RRSP and TFSA accounts in the setup phase.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a modern mobile app offered on both IOS and Android. The mobile app makes the registration phase and also the trading of stocks and ETFs very a breeze.
But Is Wealthsimple Trade Secure?
For sure. Wealthsimple Trade is secure. Wealthsimple boasts over 15 billion CAD of Assets Under Management . This company has been operating for more than 7 years and at this time employs over 600 people. The controlling shareholder is the publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the first no-fees digital brokerage operating in Canada.
How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very simple to add money to your new account. Just connect a chequing or savings account with your Trade account, then add money to your account in just a few steps. Deposits from banks to Wealthsimple typically take a few days. Funds can also be moved back to your chequing or savings account through the exact same process.
Which Other Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An alternative to e-Transfers which allow anyone to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for tax year and file your taxes online for free. It’s advertised to be easy, accurate and always free income tax filing.
Wealthsimple Spend – A combination prepaid debit card and savings account which allows you to earn 1% cashback on your purchases, and also earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that offers a ton of different online courses on topics like saving, investments, crypto, real estate and more.
Each of the listed features, including Wealthsimple Trade may be accessed within the mobile app or from their site with your Wealthsimple login.
So How do I Start Using Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. As an exclusive registration bonus for our readers you’ll get the cash value of a Canadian stock worth up to $4,500 Canadian once you add funds to your account.
What if I Still Have Additional Questions Related to Wealthsimple Technologies Inc?
If this blog post didn’t answered all of your questions, and you’re still searching for additional information relating to Wealthsimple Technologies Inc, go to the Wealthsimple website to find answers to each your questions.