What is Wealthsimple?
Wealthsimple is a simple to use Canadian online investing, stock and crypto trading platform that sets itself apart from its competitors by charging no fees.
A leading Canadian fintech business launched in the Autumn of 2014 originally as a robo advisor algorithmic automated trading platform called Wealthsimple Invest, it has improved significantly over the previous eight years to include Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets Canadian investors trade individual stocks and also ETFs without needing to pay any commissions. The exception to this is when trading ETFs and stocks which are denominated in USD currency. In that case, they will charge a small currency conversion fee when buying and selling. However, past us are the times of paying $7-12 per each trade with online discount brokerages as was expected a couple years past.
Exactly How Much Money Will I Need to Have to Start Investing on Wealthsimple Trade?
Wealthsimple is awesome in that they allow new customers to make a minimum deposit of just $1. Many alternative banks and discount brokerages have large min deposit amounts of 1K-$5,000. This makes it hard for the typical new investor to start. With Wealthsimple Trade, you won’t have to be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Offer RRSP Accounts?
Of course. Wealthsimple Trade has available CRA registered and non-CRA-registered account types. One can choose both RRSP and TFSA accounts during the setup process.
So Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a well designed mobile app available to download on both Apple and Google Play. The app makes the registration process and also the trading of stocks and ETFs incredibly painless.
So Is Wealthsimple Trade Trustworthy?
For sure. Wealthsimple Trade is safe. Wealthsimple boasts over 15 billion CAD of Assets Under Management (AUM). This company has been doing business for more than 7 years and currently employs over 600 people. The controlling shareholder is the large public Canadian corporation Power Corp of Canada. Weapthsimple Trade is the first no-fees online discount brokerage to operate in Canada.
But How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite easy to add money to your new account. Just connect a chequing or savings account to your Trade account, and then 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 moved back to a chequing or savings accounts through the same steps.
Which Additional Features and Products Are Available?
Wealthsimple Cash – An alternative to E-Transfers that allow you to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for tax year and file your tax return online free. It’s advertised to be easy, accurate and always free income tax filing.
Wealthsimple Spend – A combination prepaid debit card and savings account that allows you to earn 1% cashback on all your purchases, as well as earn a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform which includes a bunch of different online courses on topics like saving, investments, crypto, home buying and more.
Every one of the above features, along with Wealthsimple Trade may be found inside the mobile app or on the site with one login.
How Can I Begin Using Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. For an exclusive signup bonus offer for our audience you’ll receive the cash value of a stock worth up to $4,500 Canadian when you add funds to your account.
But What if I Still Have Questions Related to Reddit Wealthsimple Crypto?
If this blog post hasn’t answered all of your questions, and you’re browsing for further answers relating to Wealthsimple Trade Fees Crypto, check out the Wealthsimple site to get answers to every one of your questions.