What is Wealthsimple?
Wealthsimple is a simple to use Canadian web based investing, stock and crypto trading web app that sets itself apart from other apps by charging absolutely no fees.
A leading Canadian fintech company launched in Fall 2014 exclusively as a robo advisor algorithmic automated trading platform named Wealthsimple Invest, it has grown considerably over the last eight years to include Wealthsimple Trade, a no fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets investors trade single stocks and also ETFs without needing to pay any fees. The exception to this is when trading stocks and ETFs that are listed in US Dollars. In this case, they will charge a small currency conversion fee when buying and selling. But, past us are the days of paying Upwards of $7 per each trade with digital discount brokerages as was the norm just a few years ago.
Exactly How Much Money do I Need to Start With Wealthsimple Trade?
Wealthsimple is cool such that they allow investors to make a minimum deposit of just $1. The majority of traditional banks and brokerages have sizeable initial deposit amounts of $1,000-$5000. This makes it difficult for the every day new investor to start investing. With Wealthsimple Trade, you don’t have to already be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Have Registered Accounts?
It does. Wealthsimple Trade has both CRA registered and non-CRA-registered account types. You are able to select between both RRSP and TFSA account types in the setup wizard.
So Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a easy to use mobile app offered on Apple and Android. The mobile app makes the signup process and trading of stocks and ETFs a breeze.
Is Wealthsimple Trade Safe?
For sure. Wealthsimple Trade is safe. Wealthsimple boasts more than 15 billion CAD in Assets Under Management . They have been in business for more than 7 years and employs roughly 600 folks. The controlling shareholder is the respected public Canadian corporation Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital brokerage to operate in Canada.
But How Can I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it simple to add money to an account. Just connect the app to a chequing or savings account to your Trade account, and then add money to your account in simply a few steps. Deposits from your bank to Wealthsimple normally take just a few days. Funds can the same way can be moved to a chequing or savings account using the same steps.
What Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An alternative to Interac E-transfers that allow anyone to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for tax year and file your tax return online free. It’s advertised as easy, accurate and always free tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings account which lets you to recieve 1% cashback on your everyday spending, as well as earn a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform that includes a variety of different courses on different topics such as saving, investing, crypto, home buying and more.
Each of the above products, along with Wealthsimple Trade may be accessed in the app or on the site with one login.
But How Should I Start Using Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. For an exclusive signup bonus offer for our readers you’ll get the equivalent cash value of a Canadian stock valued at up to $4,500 CAD as soon as you deposit to your account.
So What if I Still Have Additional Questions Concerning Wealthsimple You Have Received A Dividend?
If this blog post still hasn’t answered all of your questions, and you’re still searching for further information about Wealthsimple You Have Received A Dividend, check out the Wealthsimple website for answers to each your questions.