What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian online investing, stocks and crypto trading app that sets itself apart from other apps by charging absolutely no fees.
A online financial services company founded in the Autumn of 2014 originally as a robo advisor algorithmic trading platform called Wealthsimple Invest, it has evolved substantially over the past eight years to include Wealthsimple Trade, a zero fee discount brokerage app.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets investors trade individual stocks and also ETFs without having to pay any fees. The exception to this is when you’re trading ETFs and stocks that are listed in USD currency. In this case, they will charge a small currency conversion fee when buying and selling. But, past us are the times of paying Upwards of $7 per trade with digital discount brokerages as was the case only a few years ago.
How Much Cash Will I Need to Have to Start Investing on Wealthsimple Trade?
Wealthsimple is awesome in that they will allow new customers to make a minimum deposit of only $1. Many alternative banks and brokerages have large initial deposit amounts of 1k-5k. This makes it tough for the normal investor to start investing. With Wealthsimple Trade, one doesn’t need to be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Have TFSA Accounts?
Yes. Wealthsimple Trade has both registered and non-CRA-registered account types. You can select between both RRSP and TFSA account types during the setup phase.
So Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a well designed mobile app that is available to download on Apple and Google Play. The mobile app makes the signup steps and also trading of stocks and ETFs super a breeze.
But Is Wealthsimple Trade Legit?
. Wealthsimple Trade is legit. Wealthsimple has over 15 billion CAD in Assets Under Management . they’ve been in business for more than 7 years and at this time employs more than 600 Canadians. The main shareholder is the large public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fees online discount brokerage operating in Canada.
So How Do I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite easy to add funds to an account. Simply connect the app to a chequing or savings account with your Trade account, then add funds to your account in only a few steps. Deposits from financial institutions to Wealthsimple normally take just a couple of days. Funds can also be withdrawn your chequing or savings account by using the same method.
Which Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is 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 require to get ready for this tax season and submit your tax return online free. It’s advertised as simple, accurate and always free tax return filing.
Wealthsimple Spend – A combination pre paid visa and savings product which lets one to get 1% cashback on your purchases, and also earn a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that includes a bunch of different courses on topics like saving, investments, crypto, real estate and more.
All of the above products, including Wealthsimple Trade may be found inside the mobile app and from their site with one login.
How do I Get Started With Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. As a special signup bonus for our readers you will receive the equivalent cash value of a random share worth up to $4,500 Canadian when you make an initial deposit to your account.
So What if I Still Have Additional Questions Related to Wealthsimple Kingston Promos?
If this review didn’t answered each of your questions, and you’re searching for additional specific information relating to Wealthsimple Trade Broker Code, visit the Wealthsimple website to find answers to each your questions.