What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital Financial, stock plus crypto trading platform that sets itself apart from other apps by charging no fees.
A Toronto, Ontario based online financial services company launched in the Fall of 2014 exclusively as a robo advisor algorithmic trading platform named Wealthsimple Invest, it has evolved significantly over the previous eight years to feature Wealthsimple Trade, a no fees discount brokerage app.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets Canadian investors to trade stand alone stocks and ETFs without paying fees. The exception is when you’re trading stocks and ETFs which are listed in US Dollars. In this case, they charge a currency conversion fee both when buying and selling. But, gone are the times of paying Upwards of $7 per each trade with online discount brokerages as was the case just a couple years past.
Exactly How Much Money do I Need in Order to Begin Investing on Wealthsimple Trade?
Wealthsimple is unique such that they allow investors to make a minimum deposit of only $1. Most traditional banks and discount brokerages have sizeable minimum deposit amounts of 1K-5K. This makes it hard for the common investor to start investing. With Wealthsimple Trade, you won’t need to already be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Have Registered Accounts?
They do. Wealthsimple Trade has both registered and non-CRA-registered account types. One are free to select both RRSP and TFSA accounts during the setup phase.
So Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a modern mobile app that is available to download on both Apple and also Android. The app makes the enrollment process and the trading of stocks and ETFs super painless.
Is Wealthsimple Trade Trustworthy?
For sure. Wealthsimple Trade is secure. Wealthsimple has more than 15 billion CAD in Assets Under Management (AUM). They have been expanding for more than 7 years and also at this time employs about 600 Canadians. The primary owner is the admired public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the first no-fee digital brokerage operating in Canada.
So How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite straight forward to deposit to your account. Simply connect to a chequing or savings account with your Trade account, and fund your account in only a couple of steps. Deposits from financial institutions to Wealthsimple typically take just a few days. Funds can also be moved to a chequing or savings accounts through the exact same method.
What Additional Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An alternative to E-transfers that allows anyone to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for tax year and submit your taxes online free. It’s described as simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination pre paid visa and savings product which allows one to get 1% cashback on all your purchases, and also get a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that offers a ton of online courses on different topics such as saving, investments, crypto, mortgages and much more.
Every one of the listed features, including Wealthsimple Trade may be found on the app and on the website with a single login.
But How Should I Get Started With Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. For an exclusive registration bonus offer for our audience you’ll receive the cash value of a random stock valued at $25 up to $4,500 CAD as soon as you fund your account.
So What if I Still Have Additional Questions Related to Wealthsimple Zero Commission Trading?
If this blog post didn’t answered each of your questions, and you’re looking for further specific answers about Wealthsimple Zero Commission Trading, visit the Wealthsimple site for answers to each your questions.