What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital Financial, stocks plus crypto trading web app that sets itself apart from its competitors by charging absolutely no fees.
A leading Canadian fintech business founded in Autumn 2014 exclusively as a robo-advisor automated trading platform named Wealthsimple Invest, it has improved substantially over the last eight years to also feature Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows Canadian investors to trade both individual stocks and also ETFs without having to pay commissions. The exception is when trading stocks which are listed in US Dollars. In which case, they charge a small currency conversion fee both when buying and selling. But, past us are the times of having to pay $7-12 per each trade with online discount brokerages as was the norm just a few years ago.
Exactly How Much Cash do I Need to Start Investing With Wealthsimple Trade?
Wealthsimple is special in that they allow new customers to make a minimum deposit of just $1. The majority of traditional banks and discount brokerages have quite large minimum deposit amounts of 1K-5K. This makes it tough for the common investor to start investing. With Wealthsimple Trade, you don’t need to be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Offer Registered Accounts?
Yes. Wealthsimple Trade has available both registered and non-registered accounts. You can choose between both RRSP and TFSA accounts in the setup phase.
So Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a convenient mobile app available on iOS and also Android. The mobile app makes the enrollment process and also the trading of stocks and ETFs super painless.
Is Wealthsimple Trade Legit?
Of course. Wealthsimple Trade is secure. Wealthsimple has more than 15 billion CAD in Assets Under Management . they’ve been in business for more than 7 years and also currently employs roughly 600 Canadians. The majority shareholder is the respected public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fees digital brokerage to operate in Canada.
So How Do I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so straight forward to add funds to your account. Simply connect to a chequing or savings account to your Trade account, and fund your account in simply a few clicks. Deposits from banks to Wealthsimple normally take a few days. Funds can just as easily be moved to your chequing or savings account using the exact same steps.
Which Additional Features and Products Are Available?
Wealthsimple Cash – An equivalent to Interac E-Transfers that allow you to quickly and efficiently transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for tax season and submit your tax return online for free. It’s pitched to be easy, accurate and always free tax filing.
Wealthsimple Spend – A combination pre paid visa and savings account that allows one to earn 1% cashback on all your spending, and also earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that offers a variety of different online courses on topics like saving, investing, crypto, mortgages and more.
Every one of the mentioned features, including Wealthsimple Trade may be found on the app or from the site with one login.
How Should I Get Started Using Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. For an exclusive registration bonus offer for our readers you will get the cash value of a random stock valued at up to $4,500 Canadian when you add funds to your account.
What if I Still Have Additional Questions About Wealthsimple Login?
If this blog post hasn’t answered each of your questions, and you’re still browsing for more specific information about Wealthsimple Review Canada Reddit, visit the Wealthsimple website to get answers to every one of your questions.