What is Wealthsimple?
Wealthsimple is an easy to use Canadian web based Financial, stocks and crypto trading web app that distinguishes itself from its competitors by charging no fees.
A leading Canadian online financial services company founded in the Autumn of 2014 originally as a robo-advisor algorithmic automated trading app called Wealthsimple Invest, it has improved significantly over the past 8 years to include Wealthsimple Trade, a zero fee discount brokerage app.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets consumers to trade both single stocks and ETFs without having to pay any commissions. The exception to this is when trading stocks that are listed in US Dollars. In this case, they will charge a nominal currency conversion fee both when buying and selling. However, behind us are the days of paying Upwards of $7 for each trade with online discount brokerages as was expected only a couple years ago.
Exactly How Much Money do I Need to Have in Order to Get Started on Wealthsimple Trade?
Wealthsimple is cool such that they will allow Canadian investors to make a minimum deposit of only $1. Most traditional banks and discount brokerages have quite large initial deposit amounts of 1k-5K. This makes it impossible for the common investor to get started. With Wealthsimple Trade, one doesn’t need to be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Have Registered Accounts?
It does. Wealthsimple Trade offers CRA registered and non-registered accounts. One may select between both RRSP and TFSA accounts during the setup wizard.
So Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a easy to use mobile app offered to download on Apple and Google Play. The mobile app makes the registration steps and trading of stocks and ETFs painless.
So Is Wealthsimple Trade Safe?
. Wealthsimple Trade is secure. Wealthsimple reports over 15 billion CAD in Assets Under Management . They have been in business for more than 7 years and currently employs over 600 folks. The main shareholder is the admired publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fees digital brokerage operating in Canada.
So How Can I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it simple to add funds to an account. Simply connect a chequing or savings account with your Trade account, then fund your account in just a couple of steps. Deposits from your bank to Wealthsimple usually take just a few days. Funds can also be withdrawn your chequing or savings account using the same steps.
Which Other Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to e-transfers which allows you to quickly and easily send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for this tax season and submit your taxes online for free. It’s described as simple, accurate and always totally free tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings account that lets one to recieve 1% cashback on your everyday spending, and also get a very competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that offers a ton of online courses on topics like saving, investing, crypto, real estate and much more.
Each of the mentioned products, along with Wealthsimple Trade can be accessed in the mobile app and from their website with a single login.
But How do I Begin Using Wealthsimple Trade?
Click here to signup for a Wealthsimple Trade account. As an exclusive registration bonus for our audience you’ll receive the cash value of a random Canadian stock valued at $25 up to $4,500 Canadian as soon as you add funds to your account.
So What if I Still Have Questions Related to Wealthsimple Values?
If this article didn’t answered each of your questions, and you’re still searching for further info relating to Wealthsimple Values, go to the Wealthsimple site to get answers to all your questions.