What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital investing, stocks and crypto trading app that sets itself apart from the competition by charging no fees.
A Toronto, Ontario based fintech business launched in Autumn 2014 originally as a robo-advisor trading platform named Wealthsimple Invest, it has grown substantially over the past eight years to feature Wealthsimple Trade, a zero fees discount brokerage service.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows Canadian consumers to trade individual stocks and also ETFs without paying commissions. The exception is when you’re trading ETFs and stocks which are displayed in USD currency. In which case, they will charge a small currency conversion fee when buying and selling. However, past us are the days of having to pay more than $7 for each trade with online discount brokerages as was normal only a few years past.
How Much in Funds do I Need to Start With Wealthsimple Trade?
Wealthsimple is special in that they allow Canadians to make a minimum deposit of just $1. The majority of alternative banks and brokerages have large minimum deposit amounts of $1,000-5K. This makes it tough for the every day new investor to get started. With Wealthsimple Trade, you don’t have to be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Offer TFSA Accounts?
Of course. Wealthsimple Trade offers registered and non-registered account types. One can choose between both RRSP and TFSA accounts during the setup phase.
But Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a well designed mobile app that is offered to download on IOS and Android. The mobile app makes the enrollment process and trading of stocks and ETFs truly painless.
Is Wealthsimple Trade Legit?
For sure. Wealthsimple Trade is secure. Wealthsimple has more than 15 billion Canadian in Assets Under Management . They have been doing business for more than 7 years and right now employs more than 600 Canadians. The majority owner is the respected public Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital brokerage operating in Canada.
But How Can I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly simple to add money to your account. Just connect a chequing or savings account with your Trade account, then add funds to your account in simply a few steps. Deposits from your bank to Wealthsimple normally take just a few days. Funds can just as easily be withdrawn a chequing or savings account with the same process.
What Additional Features and Products Are Available?
Wealthsimple Cash – This is alternative to e-transfers which allows anyone to quickly and easily transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for tax year and file your tax return online for free. It’s advertised to be easy, accurate and always free tax return filing.
Wealthsimple Spend – A combination prepaid visa and savings account which allows one to recieve 1% cashback on your everyday purchases, and also get a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that includes a variety of different courses on different topics such as saving, investments, crypto, mortgages and much more.
Every one of the above features, including Wealthsimple Trade can be accessed on the mobile app and at the website with your Wealthsimple login.
But How do I Start Using Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. For an exclusive registration bonus offer for our readers you will receive the cash value of a random share valued at up to $4,500 Canadian as soon as you make an initial deposit to your account.
But What if I Still Have Questions About Wealthsimple Glassdoor?
If this blog post didn’t answered all of your questions, and you’re still looking for more specific answers about Wealthsimple Review Xbox One, visit the Wealthsimple site to find answers to each your questions.