What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital investing, stocks plus crypto trading web app that sets itself apart from similar apps by charging absolutely no fees.
A leading Canadian fintech business founded in Autumn of twenty fourteen exclusively as a robo-advisor trading platform named Wealthsimple Invest, it has changed significantly over the previous 8 years to feature Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows Canadian consumers trade single stocks and ETFs without having to pay commissions. The exception to this is when you’re trading securities which are displayed in USD currency. In that case, they charge a nominal currency conversion fee both when buying and selling. But, past us are the times of paying more than $7 for each trade with discount brokerages as was normal just a couple years past.
Exactly How Much Cash Will I Need in Order to Start Investing With Wealthsimple Trade?
Wealthsimple is awesome such that they allow Canadian investors to make a minimum deposit of only $1. The majority of traditional banks and discount brokerages have quite large initial deposit amounts of $1000-5K. This makes it impossible for the normal investor to get started. With Wealthsimple Trade, one doesn’t have to be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Have TFSA Accounts?
It does. Wealthsimple Trade has available CRA registered and non-CRA-registered accounts. One can choose between both RRSP and TFSA accounts during the setup process.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a well designed mobile app offered on both Apple and Android. The app makes the registration process and also the trading of stocks and ETFs a breeze.
Is Wealthsimple Trade Secure?
Most definitely. Wealthsimple Trade is secure. Wealthsimple boasts more than 15 billion Canadian in Assets Under Management (AUM). they’ve been in business for more than 7 years and also at this time employs more than 600 folks. The majority owner is the admired public Canadian entity Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital discount brokerage operating in Canada.
So How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it simple to fund your new account. Simply connect a chequing or savings account with your Trade account, and fund your account in just a few clicks. Deposits from your bank to Wealthsimple normally take only a couple of days. Funds can just as easily be moved to a chequing or savings accounts using the exact same method.
What Additional Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to Interac E-Transfers that allows you to quickly and efficiently transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for tax season and file your taxes online for free. It’s described as simple, accurate and always totally free income tax filing.
Wealthsimple Spend – A combination pre paid visa and savings account that lets one to earn 1% cashback on your everyday purchases, as well as earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that includes a bunch of different online courses on saving, investments, crypto, mortgages and more.
Each of the above products, including Wealthsimple Trade may be accessed in the mobile app or on their website with your Wealthsimple login.
How Should I Start Using Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. As an exclusive registration bonus for our readers you will get the equivalent cash value of a random Canadian stock worth up to $4,500 CAD as soon as you make an initial deposit to your account.
What if I Still Have Questions Related to Who Owns Wealthsimple?
If this review didn’t answered all of your questions, and you’re looking for more answers relating to Wealthsimple Trade Multiple Accounts, go to the Wealthsimple website for answers to each your questions.