What is Wealthsimple?
Wealthsimple is an easy to use Canadian digital investing, stock plus crypto trading platform that distinguishes itself from the competition by charging absolutely no fees.
A leading Canadian online financial services business launched in the Autumn of 2014 exclusively as a robo advisor algorithmic automated trading platform called Wealthsimple Invest, it has improved considerably over the last 8 years to include Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets investors to trade individual stocks and also ETFs without needing to pay commissions. The exception to this is when you’re trading stocks that are displayed in USD currency. In this case, they charge a nominal currency conversion fee when buying and selling. But, gone are the days of paying Upwards of $7 per trade with discount brokerages as was normal only a few years ago.
How Much in Funds do I Need to Have to Get Started on Wealthsimple Trade?
Wealthsimple is special such that they will allow new customers to make a minimum deposit of only $1. Most traditional banks and discount brokerages have large minimum deposit amounts of $1000-5K. This makes it hard for the typical investor to start. With Wealthsimple Trade, one doesn’t need to be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Offer Registered Accounts?
It does. Wealthsimple Trade has both registered and non-CRA-registered accounts. You can choose between both RRSP and TFSA accounts in the setup process.
So Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a convenient mobile app offered on Apple and Android. The mobile app makes the enrollment phase and also trading of stocks and ETFs super painless.
But Is Wealthsimple Trade Secure?
For sure. Wealthsimple Trade is trustworthy. Wealthsimple boasts over 15 billion CAD in Assets Under Management . These folks have been operating for more than 7 years and now employs roughly 600 Canadians. The majority shareholder is the admired public Canadian entity Power Corp of Canada. Weapthsimple Trade is the very first no-fees online brokerage to operate in Canada.
How Does One Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite simple to deposit to an account. Just connect the app to a chequing or savings account with your Trade account, and add money to your account in just a few steps. Deposits from financial institutions to Wealthsimple usually take just a few days. Funds can just as easily be moved to your chequing or savings account using the exact same process.
What Additional Benefits and Products Are Available?
Wealthsimple Cash – An alternative to Interac E-transfers which allow anyone to quickly and efficiently send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for this tax year and submit your taxes online free. It’s described to be easy, accurate and always free tax return filing.
Wealthsimple Spend – A combination prepaid debit card and savings product which lets you to get 1% cashback on all your everyday spending, and also get a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform which includes a ton of courses on topics like saving, investing, crypto, mortgages and much more.
Every one of the above features, along with Wealthsimple Trade can be accessed inside the mobile app or on their site with a single login.
How do I Begin Using Wealthsimple Trade?
Click here to register for a new Wealthsimple Trade account. For a special signup bonus offer for our readers you’ll get the cash value of a stock worth up to $4,500 CAD as soon as you make an initial deposit to your account.
But What if I Still Have Additional Questions About Young And Thrifty Wealthsimple Trade?
If this blog post didn’t answered all of your questions, and you’re still searching for further information about Young And Thrifty Wealthsimple Trade, visit the Wealthsimple site to find answers to each your questions.