What is Wealthsimple?
Wealthsimple is an easy to use Canadian digital investing, stocks and crypto trading web app that distinguishes itself from its competitors by charging absolutely no fees.
A fintech company launched in Autumn of twenty fourteen exclusively as a robo advisor algorithmic automated trading platform called Wealthsimple Invest, it has grown significantly over the past eight years to include Wealthsimple Trade, a no fees discount brokerage platform.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows Canadian investors to trade both stand alone stocks and ETFs without needing to pay any commissions. The exception is when you’re trading securities that are denominated in US Dollars. In that case, they do charge a currency conversion fee both when buying and selling. But, behind us are the days of having to pay $7-12 per trade with discount brokerages as was the case just a couple years past.
Exactly How Much in Funds do I Need in Order to Get Started With Wealthsimple Trade?
Wealthsimple is cool such that they will allow Canadians to make a minimum deposit of just $1. The majority of traditional banks and discount brokerages have sizeable minimum deposit amounts of $1000-5K. This makes it impossible for the common investor to get started. With Wealthsimple Trade, one doesn’t have to be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Have RRSP Accounts?
Yes. Wealthsimple Trade has available both CRA registered and non-registered accounts. You may select both RRSP and TFSA account types in the setup phase.
But Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a well designed mobile app that is offered to download on both Apple and also Google Play. The app makes the signup process and the trading of stocks and ETFs easy.
So Is Wealthsimple Trade Safe?
For sure. Wealthsimple Trade is safe. Wealthsimple boasts over 15 billion CAD of Assets Under Management . they’ve been operating for more than 7 years and also currently employs over 600 folks. The main shareholder is the public Canadian entity Power Corp of Canada. Weapthsimple Trade is the very first no-fee online brokerage operating in Canada.
So How Does One Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly straight forward to add money to a new account. Just connect to a chequing or savings account with your Trade account, and then fund your account in just a few clicks. Deposits from your bank to Wealthsimple normally take a couple of days. Funds can the same way can be moved back to a chequing or savings account through the same process.
Which Other Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is equivalent to e-Transfers which allow anyone to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for this tax season and file your taxes online for free. It’s pitched as simple, accurate and always free income tax filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings product which allows one to earn 1% cashback on your spending, and also earn a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform which includes a bunch of different online courses on different topics such as saving, investments, crypto, mortgages and much more.
Every one of the above products, including Wealthsimple Trade can be accessed within the mobile app and at their website with one login.
So How Should I Start With Wealthsimple Trade?
Click here to create a new Wealthsimple Trade account. As a special registration bonus offer for our audience you’ll get the cash value of a random stock worth up to $4,500 Canadian when you deposit to your account.
But What if I Still Have Questions Concerning 241 Spadina Ave Wealthsimple?
If this blog post didn’t answered all of your questions, and you’re looking for more answers about 241 Spadina Ave Wealthsimple, check out the Wealthsimple website to find answers to every one of your questions.