What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian online Financial, stock plus crypto trading app that differentiates itself from other apps by charging absolutely no fees.
A leading Canadian online financial services company launched in Fall 2014 exclusively as a robo advisor algorithmic automated trading platform named Wealthsimple Invest, it has grown significantly over the past 8 years to include Wealthsimple Trade, a no fee discount brokerage app.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade allows Canadian investors trade both stand alone stocks and also ETFs without needing to pay commissions. The exception is when trading stocks and ETFs which are listed in USD. In which case, they will charge a small currency conversion fee when buying and selling. However, behind us are the times of having to pay $7-12 for each trade with digital discount brokerages as was normal just a couple years ago.
Exactly How Much Cash do I Need to Begin Investing on Wealthsimple Trade?
Wealthsimple is awesome such that they will allow Canadian investors to make a minimum deposit of only $1. The majority of traditional banks and discount brokerages have large minimum deposit amounts of 1k-5K. This makes it impossible for the every day investor to get started. With Wealthsimple Trade, you don’t have to be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Have TFSA Accounts?
Yes. Wealthsimple Trade has available both CRA registered and non-CRA-registered accounts. One are able to select both RRSP and TFSA account types during the setup wizard.
So Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a modern mobile app that is offered to download on iOS and also Android. The mobile app makes the signup phase and trading of stocks and ETFs truly a breeze.
So Is Wealthsimple Trade Legit?
Yes. Wealthsimple Trade is safe. Wealthsimple reports in excess of 15 billion CAD of Assets Under Management (AUM). They have been doing business for more than 7 years and now employs more than 600 people. The primary owner is the large public Canadian entity Power Corp of Canada. Weapthsimple Trade is the very first no-fee online brokerage operating in Canada.
But How Does One Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite easy to add money to an account. Simply connect a chequing or savings account to your Trade account, then add money to your account in simply a couple of clicks. Deposits from financial institutions to Wealthsimple typically take only a few days. Funds can the same way can be moved to your chequing or savings accounts by the exact same process.
Which Additional Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to e-transfers which allow anyone to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for tax year and file your taxes online for free. It’s described as simple, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid prepaid visa and savings account that allows you to recieve 1% cashback on your everyday purchases, as well as get a very competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that includes a bunch of different online courses on topics like saving, investing, crypto, mortgages and more.
Each of the mentioned products, including Wealthsimple Trade may be found within the app and from their site with one login.
How Can I Begin Using Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. For a special registration bonus offer for our audience you’ll get the cash value of a share worth $25 up to $4,500 Canadian once you make an initial deposit to your account.
What if I Still Have Questions Related to Wealthsimple Returns?
If this blog post still hasn’t given you the answers to all of your questions, and you’re still looking for additional specific information relating to Wealthsimple Trade Execution Time, visit the Wealthsimple website for answers to each your questions.