What is Wealthsimple?
Wealthsimple is an easy to use Canadian digital investing, securities plus crypto trading app that differentiates itself from its competitors by charging absolutely no fees.
A Toronto, Ontario based online financial services business founded in the Autumn of 2014 exclusively as a robo advisor trading platform named Wealthsimple Invest, it has evolved significantly over the past 8 years to feature Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets investors to trade both stand alone stocks and ETFs without paying any commissions. The exception is when trading stocks and ETFs that are denominated in USD. In that case, they will charge a small currency conversion fee both when buying and selling. But, behind us are the days of paying Upwards of $7 for each trade with online discount brokerages as was common just a couple years past.
How Much Cash do I Need to Have in Order to Start on Wealthsimple Trade?
Wealthsimple is special such that they allow Canadians to make a minimum deposit of just $1. Many traditional banks and brokerages have large min deposit amounts of $1,000-5k. This makes it impossible for the everyday new investor to start. With Wealthsimple Trade, you won’t need to be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Offer RRSP Accounts?
Yes. Wealthsimple Trade has both CRA registered and non-CRA-registered account types. One are free to choose between both RRSP and TFSA accounts during the setup wizard.
Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a easy to use mobile app that is offered to download on both iOS and Google Play. The mobile app makes the enrollment steps and trading of stocks and ETFs simple.
Is Wealthsimple Trade Legit?
Yes. Wealthsimple Trade is secure. Wealthsimple reports over 15 billion Canadian in Assets Under Management . they’ve been doing business for more than 7 years and employs roughly 600 folks. The primary owner is the large public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fees online brokerage to operate in Canada.
So How Can I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it simple to add money to your account. Simply connect a chequing or savings account to your Trade account, and fund your account in simply a couple of clicks. Deposits from your bank to Wealthsimple typically take a few days. Funds can the same way can be withdrawn your chequing or savings account by using the same steps.
What Other Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to Interac e-Transfers which allows anyone to quickly and simply transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for tax year and submit your tax return online for free. It’s pitched to be simple, accurate and always totally free tax filing.
Wealthsimple Spend – A combination pre paid visa and savings account that allows one to recieve 1% cashback on all your everyday spending, and also earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that offers a ton of online courses on topics like saving, investing, crypto, home buying and much more.
Each of the listed features, including Wealthsimple Trade can be accessed on the mobile app or from the website with your Wealthsimple login.
So How do I Get Started Using Wealthsimple Trade?
Click here to signup for a Wealthsimple Trade account. As an exclusive registration bonus offer to our audience you will receive the equivalent cash value of a random share valued at up to $4,500 CAD when you fund your account.
What if I Still Have Additional Questions Related to Wealthsimple Referral?
If this blog post hasn’t answered all of your questions, and you’re still searching for more specific info about Wealthsimple Trade Etf, visit the Wealthsimple site to get answers to all your questions.