What is Wealthsimple?
Wealthsimple is an easy to use Canadian web based investing, stock plus crypto trading web app that sets itself apart from similar apps by charging no fees.
A leading Canadian fintech company founded in Fall of 2014 exclusively as a robo-advisor algorithmic automated trading platform named Wealthsimple Invest, it has improved significantly over the previous 8 years to feature Wealthsimple Trade, a zero fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows Canadian consumers to trade single stocks and also ETFs without needing to pay commissions. The exception to this is when you’re trading ETFs and stocks that are listed in USD. In that case, they charge a currency conversion fee when buying and selling. However, gone are the days of having to pay Upwards of $7 per each trade with online discount brokerages as was the norm a couple years ago.
Exactly How Much in Funds do I Need in Order to Start Investing on Wealthsimple Trade?
Wealthsimple is special in that they will allow new customers to make a minimum deposit of just $1. Many alternative banks and discount brokerages have sizeable initial deposit amounts of $1000-$5000. This makes it hard for the everyday new investor to start. With Wealthsimple Trade, you won’t have to be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Offer RRSP Accounts?
It does. Wealthsimple Trade has available registered and non-CRA-registered accounts. One are free to select both RRSP and TFSA accounts during the setup wizard.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a well designed mobile app offered to download on IOS and Android. The smartphone app makes the signup process and also the trading of stocks and ETFs super painless.
Is Wealthsimple Trade Secure?
Yes. Wealthsimple Trade is secure. Wealthsimple boasts more than 15 billion CAD of Assets Under Management . they’ve been operating for more than 7 years and also right now employs more than 600 people. The primary owner is the public Canadian corporation Power Corp of Canada. Weapthsimple Trade is the first no-fees online brokerage to operate in Canada.
How Do I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it easy to deposit to an account. Simply connect the app to a chequing or savings account to your Trade account, and then add money to 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 to your chequing or savings accounts by the exact same steps.
Which Other Features and Products Are Available?
Wealthsimple Cash – This is alternative to E-Transfers which allow you to quickly and simply transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for tax season and file your tax return online free. It’s described as easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination pre paid visa and savings account that lets one to earn 1% cashback on all your spending, as well as get a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform which includes a bunch of different courses on topics like saving, investing, crypto, mortgages and much more.
Every one of the listed products, including Wealthsimple Trade may be accessed within the mobile app and on their website with your Wealthsimple login.
So How Should I Begin With Wealthsimple Trade?
Click here to create a Wealthsimple Trade account. For an exclusive signup bonus for our readers you will receive the equivalent cash value of a random Canadian stock worth $25 up to $4,500 Canadian as soon as you add funds to your account.
But What if I Still Have Additional Questions Related to $40 Crypto Wealthsimple?
If this blog post didn’t given you the answers to each of your questions, and you’re searching for further answers relating to $40 Crypto Wealthsimple, visit the Wealthsimple site for answers to each your questions.