What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online Financial, stocks and crypto trading platform that differentiates itself from other apps by charging absolutely no fees.
A leading Canadian fintech business founded in the Fall of 2014 originally as a robo-advisor trading app named Wealthsimple Invest, it has grown significantly over the previous 8 years to also include Wealthsimple Trade, a no fee discount brokerage app.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows Canadian consumers trade both single stocks and ETFs without needing to pay fees. The exception to this is when trading stocks which are listed in USD currency. In this case, they charge a small currency conversion fee both when buying and selling. But, past us are the times of having to pay more than $7 per each trade with digital discount brokerages as was normal just a couple years past.
How Much in Funds Will I Need in Order to Begin Investing on Wealthsimple Trade?
Wealthsimple is awesome such that they will allow Canadian investors to make a minimum deposit of just $1. Many alternative banks and discount brokerages have quite large initial deposit amounts of 1k-$5,000. This makes it hard for the every day new investor to start investing. With Wealthsimple Trade, one doesn’t have to already be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Offer Registered Accounts?
Of course. Wealthsimple Trade has both CRA registered and non-registered account types. You may choose between both RRSP and TFSA account types during the setup process.
Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a well designed mobile app that is offered on iOS and also Google Play. The app makes the registration steps and the trading of stocks and ETFs very simple.
Is Wealthsimple Trade Trustworthy?
Yes. Wealthsimple Trade is trustworthy. Wealthsimple has more than 15 billion Canadian of Assets Under Management . they’ve been expanding for more than 7 years and also employs roughly 600 folks. The controlling shareholder is the public Canadian entity Power Corp of Canada. Weapthsimple Trade is the very first no-fees online brokerage to operate in Canada.
But How Does One Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite easy to add funds to an account. Just connect the app to a chequing or savings account with your Trade account, and add money to your account in simply a couple of steps. Deposits from your bank to Wealthsimple normally take only a few days. Funds can the same way can be moved back to your chequing or savings accounts using the same method.
Which Other Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An equivalent to Interac E-Transfers that allows anyone to quickly and simply transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for this tax season and submit your taxes online free. It’s described to be easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A hybrid pre paid visa and savings product which allows one to recieve 1% cashback on your spending, and also earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform which offers a variety of different online courses on topics like saving, investing, crypto, real estate and more.
Every one of the mentioned features, along with Wealthsimple Trade can be found within the app and from the site with a single login.
So How Should I Begin With Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. For an exclusive registration bonus offer for our audience you’ll receive the equivalent cash value of a Canadian stock valued at $25 up to $4,500 CAD when you add funds to your account.
What if I Still Have Questions Related to Layoffs Wealthsimple?
If this review didn’t answered all of your questions, and you’re still looking for more specific answers about Wealthsimple Trade Commission Fee, go to the Wealthsimple site to get answers to each your questions.