What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital investing, stock plus crypto trading app that sets itself apart from its competitors by charging no fees.
A fintech business launched in the Autumn 2014 originally as a robo-advisor automated trading app named Wealthsimple Invest, it has improved considerably over the past 8 years to feature Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets Canadian consumers trade single stocks and ETFs without paying commissions. The exception is when trading stocks that are listed in USD. In that case, they charge a small currency conversion fee both when buying and selling. But, past us are the times of paying $7-12 for each trade with discount brokerages as was normal a few years ago.
How Much Cash Will I Need to Get Started With Wealthsimple Trade?
Wealthsimple is unique such that they allow Canadian investors to make a minimum deposit of only $1. Many traditional banks and brokerages have large initial deposit amounts of $1000-$5,000. This makes it impossible for the every day investor to get started. With Wealthsimple Trade, you won’t have to be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Offer Registered Accounts?
It does. Wealthsimple Trade offers both registered and non-registered accounts. You can select between both RRSP and TFSA accounts in the setup phase.
But Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a well designed mobile app offered on Apple and Android. The mobile app makes the signup process and the trading of stocks and ETFs super painless.
So Is Wealthsimple Trade Legit?
Definitely. Wealthsimple Trade is trustworthy. Wealthsimple has in excess of 15 billion Canadian of Assets Under Management (AUM). They have been in business for more than 7 years and also at this time employs more than 600 Canadians. The controlling shareholder is the public Canadian entity Power Corp of Canada. Weapthsimple Trade was the very first no-fees online brokerage operating in Canada.
How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so easy to add funds to your account. Just connect a chequing or savings account to your Trade account, then add funds to your account in just a few steps. Deposits from financial institutions to Wealthsimple normally take just a couple of days. Funds can just as easily be moved to your chequing or savings account by the same process.
What Additional Benefits and Products Are Available?
Wealthsimple Cash – This is alternative to e-transfers that allow you to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for tax year and submit your tax return online for free. It’s advertised as simple, accurate and always free tax return filing.
Wealthsimple Spend – A combination pre paid visa and savings product that allows one to get 1% cashback on your everyday spending, and also earn a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform which offers a ton of different online courses on saving, investing, crypto, real estate and much more.
Every one of the mentioned products, including Wealthsimple Trade can be accessed on the mobile app and from the site with a single login.
So How Should I Start Using Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. For an exclusive registration bonus for our readers you will receive the cash value of a random share valued at up to $4,500 CAD once you add funds to your account.
So What if I Still Have Questions Related to Best Penny Stocks On Wealthsimple?
If this blog post didn’t given you the answers to each of your questions, and you’re still searching for additional information about Wealthsimple Review Desktop, visit the Wealthsimple website to find answers to every one of your questions.