What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital investing, securities plus crypto trading platform that sets itself apart from similar apps by charging no fees.
A Toronto, Ontario based online financial services company launched in Autumn twenty fourteen exclusively as a robo advisor algorithmic trading app named Wealthsimple Invest, it has evolved substantially over the previous 8 years to include Wealthsimple Trade, a zero fees discount brokerage app.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows Canadian consumers to trade both individual stocks and also ETFs without having to pay any fees. The exception is when trading securities which are listed in US Dollars. In that case, they will charge a small currency conversion fee both when buying and selling. But, past us are the days of having to pay Upwards of $7 per each trade with discount brokerages as was the norm only a few years ago.
How Much Money Will I Need to Have to Start With Wealthsimple Trade?
Wealthsimple is awesome such that they allow new customers to make a minimum deposit of only $1. Most alternative banks and brokerages have sizeable minimum deposit amounts of $1,000-5K. This makes it difficult for the everyday investor to get started. With Wealthsimple Trade, you don’t have to be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Offer TFSA Accounts?
Yes. Wealthsimple Trade offers both CRA registered and non-registered accounts. One can select between both RRSP and TFSA accounts during the setup process.
So Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a modern mobile app offered to download on both Apple and Google Play. The app makes the enrollment steps and also the trading of stocks and ETFs painless.
But Is Wealthsimple Trade Trustworthy?
Most definitely. Wealthsimple Trade is safe. Wealthsimple has in excess of 15 billion CAD in Assets Under Management (AUM). These folks have been operating for more than 7 years and at this time employs about 600 folks. The main owner is the respected public Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fees online brokerage operating in Canada.
How Does One Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly easy to fund a new account. Simply connect a chequing or savings account to your Trade account, and fund your account in just a couple of clicks. Deposits from your bank to Wealthsimple usually take just a few days. Funds can just as easily be withdrawn your chequing or savings accounts by using the same process.
Which Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An alternative to Interac E-Transfers that allow you to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for this tax year and submit your taxes online free. It’s pitched to be simple, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings product that allows you to earn 1% cashback on 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 includes a variety of courses on saving, investments, crypto, mortgages and more.
Each of the mentioned features, including Wealthsimple Trade may be accessed within the mobile app or at their site with one login.
So How do I Start Using Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. As a special signup bonus for our audience you will receive the cash value of a stock worth up to $4,500 Canadian once you make an initial deposit to your account.
So What if I Still Have Questions About Wealthsimple Website?
If this review didn’t given you the answers to all of your questions, and you’re still browsing for further specific info about Wealthsimple Website, check out the Wealthsimple website to find answers to every one of your questions.