What is Wealthsimple?
Wealthsimple is an easy to use Canadian online Financial, securities plus crypto trading platform that differentiates itself from the competition by charging no fees.
A online financial services company launched in Autumn of 2014 exclusively as a robo advisor automated trading app named Wealthsimple Invest, it has evolved substantially over the previous eight years to feature Wealthsimple Trade, a no fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets investors trade both single stocks and also ETFs without having to pay fees. The exception is when you’re trading securities that are denominated in US Dollars. In this case, they charge a small currency conversion fee both when buying and selling. But, gone are the times of having to pay $7-12 per each trade with discount brokerages as was the case a couple years past.
Exactly How Much Cash do I Need to Begin Investing on Wealthsimple Trade?
Wealthsimple is cool such that they will allow new customers to make a minimum deposit of just $1. Most alternative banks and brokerages have sizeable min deposit amounts of $1,000-5K. This makes it impossible for the normal investor to start investing. With Wealthsimple Trade, you don’t need to already be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Offer Registered Accounts?
They do. Wealthsimple Trade has available both CRA registered and non-CRA-registered account types. You may select both RRSP and TFSA accounts in the setup wizard.
But Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a well designed mobile app available to download on both iOS and also Android. The mobile app makes the enrollment phase and the trading of stocks and ETFs simple.
So Is Wealthsimple Trade Trustworthy?
Of course. Wealthsimple Trade is safe. Wealthsimple boasts more than 15 billion CAD of Assets Under Management . they’ve been operating for more than 7 years and also currently employs over 600 people. The controlling shareholder is the respected public Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fee online brokerage operating in Canada.
So How Can I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so straight forward to fund your account. Simply connect a chequing or savings account with your Trade account, and then fund your account in just a few steps. Deposits from your bank to Wealthsimple typically take only a few days. Funds can also be withdrawn your chequing or savings accounts using the exact same process.
Which Other Benefits and Products Are Available?
Wealthsimple Cash – An alternative to E-Transfers which allows you to quickly and efficiently transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for this tax year and file your taxes online free. It’s pitched to be simple, accurate and always totally free income tax filing.
Wealthsimple Spend – A combination pre paid debit card and savings account that lets you to recieve 1% cashback on all your everyday purchases, and also get a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that includes a ton of different online courses on topics like saving, investing, crypto, mortgages and more.
All of the above features, including Wealthsimple Trade can be found in the mobile app and from their site with your Wealthsimple login.
How Can I Get Started With Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. For an exclusive registration bonus for our audience you’ll receive the cash value of a stock valued at $25 up to $4,500 Canadian once you fund your account.
What if I Still Have Additional Questions Related to Wealthsimple Zero Commission?
If this article still hasn’t given you the answers to each of your questions, and you’re browsing for further specific answers about Wealthsimple Zero Commission, go to the Wealthsimple website for answers to each your questions.