What is Wealthsimple?
Wealthsimple is an easy to use Canadian web based Financial, stocks and crypto trading web app that differentiates itself from the competition by charging absolutely no fees.
A Toronto, Ontario based online financial services business launched in Fall of 2014 exclusively as a robo advisor trading platform called Wealthsimple Invest, it has grown substantially over the past eight years to also feature Wealthsimple Trade, a no fee discount brokerage app.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows investors to trade stand alone stocks and ETFs without needing to pay any commissions. The exception is when you’re trading stocks that are denominated in USD. In which case, they do charge a nominal currency conversion fee when buying and selling. But, gone are the times of having to pay Upwards of $7 for each trade with discount brokerages as was the case just a few years ago.
How Much Cash do I Need to Have to Start With Wealthsimple Trade?
Wealthsimple is special in that they allow Canadian investors to make a minimum deposit of only $1. Most traditional banks and brokerages have sizeable min deposit amounts of 1k-$5000. This makes it tough for the common investor to start. With Wealthsimple Trade, you won’t need to already be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Have TFSA Accounts?
It does. Wealthsimple Trade has available both CRA registered and non-registered accounts. One are free to choose between both RRSP and TFSA accounts in the setup wizard.
Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a convenient mobile app that is offered to download on both Apple and also Android. The smartphone app makes the signup steps and trading of stocks and ETFs truly simple.
Is Wealthsimple Trade Secure?
. Wealthsimple Trade is safe. Wealthsimple has in excess of 15 billion Canadian in Assets Under Management (AUM). This company has been operating for more than 7 years and also employs roughly 600 folks. The controlling owner is the publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fees digital discount brokerage to operate in Canada.
How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very straight forward to fund a new account. Simply connect to a chequing or savings account to your Trade account, and then add funds to your account in simply a couple of steps. Deposits from banks to Wealthsimple typically take a few days. Funds can the same way can be withdrawn your chequing or savings accounts using the same steps.
What Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to Interac E-transfers which allows you to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for this tax season and submit your tax return online free. It’s advertised to be simple, accurate and always totally free tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings account which lets one to earn 1% cashback on your everyday spending, as well as get a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform that offers a ton of courses on different topics such as saving, investing, crypto, real estate and much more.
All of the above features, including Wealthsimple Trade may be accessed on the mobile app or from the site with one login.
How Can I Start Using Wealthsimple Trade?
Click here to setup your Wealthsimple Trade account. As an exclusive signup bonus offer for our audience you’ll receive the equivalent cash value of a Canadian stock valued at up to $4,500 Canadian when you make an initial deposit to your account.
So What if I Still Have Questions Concerning Wealthsimple Outage?
If this blog post didn’t given you the answers to all of your questions, and you’re still looking for additional information about Wealthsimple Trade $25, go to the Wealthsimple site for answers to all your questions.