What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online Financial, stocks plus crypto trading app that differentiates itself from other apps by charging no fees.
A leading Canadian online financial services company launched in the Fall of 2014 originally as a robo-advisor algorithmic trading app named Wealthsimple Invest, it has evolved significantly over the last eight years to feature Wealthsimple Trade, a zero fees discount brokerage app.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows Canadian consumers to trade stand alone stocks and also ETFs without paying any fees. The exception to this is when trading stocks which are displayed in USD. In this case, they do charge a nominal currency conversion fee when buying and selling. But, past us are the days of paying $7-12 for each trade with online discount brokerages as was expected a couple years ago.
How Much Money do I Need to Begin Investing With Wealthsimple Trade?
Wealthsimple is unique such that they will allow investors to make a minimum deposit of just $1. Most alternative banks and brokerages have quite large initial deposit amounts of $1000-5k. This makes it impossible for the typical new investor to start investing. With Wealthsimple Trade, you don’t have to be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Have TFSA Accounts?
They do. Wealthsimple Trade has available both registered and non-registered account types. One may select both RRSP and TFSA account types during the setup phase.
So Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a modern mobile app that is offered on Apple and also Google Play. The smartphone app makes the enrollment phase and the trading of stocks and ETFs super easy.
Is Wealthsimple Trade Trustworthy?
Of course. Wealthsimple Trade is legit. Wealthsimple has more than 15 billion Canadian of Assets Under Management (AUM). They have been expanding for more than 7 years and employs more than 600 people. The main owner is the admired public Canadian corporation Power Corp of Canada. Weapthsimple Trade is the very first no-fees online discount brokerage to operate in Canada.
But How Does One Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite simple to add money to your account. Simply connect a chequing or savings account with your Trade account, then fund your account in only a few clicks. Deposits from banks to Wealthsimple usually take just a couple of days. Funds can also be moved back to a chequing or savings account with the exact same process.
Which Additional Benefits and Products Are Available?
Wealthsimple Cash – An alternative to Interac E-transfers which allow anyone to quickly and easily transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready 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 visa and savings product which lets you to get 1% cashback on all your everyday spending, and also earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which includes a bunch of different online courses on saving, investments, crypto, home buying and much more.
All of the listed products, including Wealthsimple Trade may be found within the mobile app or on their site with your Wealthsimple login.
So How Should I Start With Wealthsimple Trade?
Click here to signup for a Wealthsimple Trade account. As a special registration bonus for our readers you will get the cash value of a random share worth $25 up to $4,500 Canadian once you make an initial deposit to your account.
So What if I Still Have Questions Concerning Wealthsimple Wire Transfer?
If this blog post still hasn’t answered each of your questions, and you’re still looking for further info relating to Wealthsimple Wire Transfer, go to the Wealthsimple site to get answers to every one of your questions.