What is Wealthsimple?
Wealthsimple is an easy to use Canadian online investing, stocks and crypto trading web app that differentiates itself from its competitors by charging no fees.
A leading Canadian fintech business founded in Autumn twenty fourteen originally as a robo-advisor trading platform called Wealthsimple Invest, it has evolved significantly over the last eight years to include Wealthsimple Trade, a zero fees discount brokerage platform.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets Canadian investors trade individual stocks and ETFs without needing to pay commissions. The exception is when you’re trading ETFs and stocks that are displayed in USD currency. In this case, they will charge a currency conversion fee when buying and selling. But, behind us are the days of having to pay $7-12 per trade with discount brokerages as was the norm just a few years ago.
Exactly How Much Cash do I Need to Have in Order to Start With Wealthsimple Trade?
Wealthsimple is cool such that they will allow new customers to make a minimum deposit of only $1. Many traditional banks and brokerages have quite large min deposit amounts of $1,000-5k. This makes it impossible for the typical investor to start investing. With Wealthsimple Trade, you won’t have to already be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Have TFSA Accounts?
Of course. Wealthsimple Trade has both CRA registered and non-registered account types. One are free to choose both RRSP and TFSA account types during the setup process.
So Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a well designed mobile app that is available on both Apple and Google Play. The mobile app makes the enrollment process and the trading of stocks and ETFs very simple.
So Is Wealthsimple Trade Secure?
Definitely. Wealthsimple Trade is legit. Wealthsimple boasts over 15 billion CAD of Assets Under Management (AUM). These folks have been operating for more than 7 years and at this time employs over 600 people. The majority owner is the large publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fee online brokerage to operate in Canada.
How Does One Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it simple to add funds to a new account. Simply connect to a chequing or savings account with your Trade account, and then fund your account in only a few steps. Deposits from financial institutions to Wealthsimple typically take just a couple of days. Funds can also be moved back to a chequing or savings account by the exact same process.
Which Other Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to e-transfers that allow you to quickly and simply transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for this tax season and submit your taxes online for free. It’s pitched as simple, accurate and always free income tax filing.
Wealthsimple Spend – A combination pre paid visa and savings product which allows you to earn 1% cashback on all your everyday purchases, as well as earn a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which offers a bunch of courses on saving, investing, crypto, home buying and more.
All of the listed features, including Wealthsimple Trade can be found inside the mobile app or on their website with your Wealthsimple login.
But How do I Begin With Wealthsimple Trade?
Click here to signup for a new Wealthsimple Trade account. As an exclusive signup bonus to our audience you will get the equivalent cash value of a Canadian stock worth $25 up to $4,500 CAD as soon as you add funds to your account.
But What if I Still Have Questions Concerning Wealthsimple How To Use?
If this blog post hasn’t answered each of your questions, and you’re still searching for more answers about Wealthsimple Trade Transfer Fee Reimbursement, visit the Wealthsimple website to get answers to each your questions.