What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian online Financial, securities plus crypto trading app that differentiates itself from other apps by charging absolutely no fees.
A fintech business launched in the Autumn of 2014 originally as a robo-advisor algorithmic trading platform called Wealthsimple Invest, it has grown significantly over the last eight years to also include Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade allows Canadian investors trade individual stocks and also ETFs without needing to pay any fees. The exception to this is when you’re trading ETFs and stocks which are denominated in USD currency. In this case, they do charge a nominal currency conversion fee both when buying and selling. But, past us are the days of paying Upwards of $7 for each trade with digital discount brokerages as was the case only a few years ago.
Exactly How Much Cash Will I Need to Have in Order to Start With Wealthsimple Trade?
Wealthsimple is awesome such that they will allow investors to make a minimum deposit of just $1. The majority of alternative banks and brokerages have large minimum deposit amounts of $1000-5K. This makes it tough for the every day new investor to get started. With Wealthsimple Trade, one doesn’t need to already be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Have TFSA Accounts?
It does. Wealthsimple Trade has available both CRA registered and non-registered account types. You can choose between both RRSP and TFSA account types during the setup process.
But Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a modern mobile app available to download on both IOS and Google Play. The app makes the signup phase and also the trading of stocks and ETFs simple.
But Is Wealthsimple Trade Legit?
Of course. Wealthsimple Trade is secure. Wealthsimple has in excess of 15 billion Canadian in Assets Under Management . These folks have been in business for more than 7 years and employs about 600 folks. The main owner is the admired publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fee online brokerage to operate in Canada.
So How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very simple to deposit to your account. Just connect to a chequing or savings account with your Trade account, and add funds to your account in simply a couple of steps. Deposits from financial institutions to Wealthsimple typically take a few days. Funds can just as easily be moved to your chequing or savings accounts using the same steps.
What Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An equivalent to Interac E-transfers that allows one to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for this tax season and file your tax return online for free. It’s advertised to be easy, accurate and always totally free tax filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings account that allows you to earn 1% cashback on all your everyday spending, as well as earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that offers a variety of different courses on different topics such as saving, investments, crypto, real estate and more.
All of the above features, including Wealthsimple Trade may be accessed in the app and at their site with your Wealthsimple login.
So How do I Get Started Using Wealthsimple Trade?
Click here to signup for a Wealthsimple Trade account. As a special signup bonus offer for our readers you’ll get the cash value of a share valued at $25 up to $4,500 CAD once you deposit to your account.
So What if I Still Have Additional Questions About Wealthsimple Usd To Cad?
If this article still hasn’t answered all of your questions, and you’re still looking for more specific information about Wealthsimple Usd To Cad, visit the Wealthsimple site to find answers to every one of your questions.