What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online Financial, securities plus crypto trading app that distinguishes itself from similar apps by charging no fees.
A fintech company launched in Fall of 2014 originally as a robo advisor algorithmic automated trading platform named Wealthsimple Invest, it has improved substantially over the last eight years to also include Wealthsimple Trade, a zero fees discount brokerage service.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets consumers trade both stand alone stocks and ETFs without paying commissions. The exception to this is when trading ETFs and stocks which are denominated in USD currency. In which case, they do charge a nominal currency conversion fee both when buying and selling. However, past us are the days of paying $7-12 per trade with digital discount brokerages as was normal just a few years ago.
Exactly How Much in Funds do I Need in Order to Start Investing on Wealthsimple Trade?
Wealthsimple is cool in that they will allow new customers to make a minimum deposit of only $1. Most alternative banks and discount brokerages have large minimum deposit amounts of 1k-5K. This makes it impossible for the every day new investor to start. With Wealthsimple Trade, you don’t have to already be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Offer RRSP Accounts?
Yes. Wealthsimple Trade has registered and non-registered account types. One are free to choose between both RRSP and TFSA account types in the setup phase.
Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a convenient mobile app that is offered on Apple and also Google Play. The app makes the registration steps and the trading of stocks and ETFs incredibly painless.
So Is Wealthsimple Trade Legit?
Of course. Wealthsimple Trade is secure. Wealthsimple has in excess of 15 billion CAD in Assets Under Management . These folks have been operating for more than 7 years and also at this time employs roughly 600 people. The controlling shareholder is the large publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fees online discount brokerage to operate in Canada.
So How Do I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so simple to add money to your account. Simply connect to a chequing or savings account with your Trade account, and then fund your account in only a couple of steps. Deposits from financial institutions to Wealthsimple usually take a couple of days. Funds can also be withdrawn your chequing or savings accounts with the exact same process.
Which Additional Benefits and Products Are Available?
Wealthsimple Cash – This is alternative to e-Transfers which allows one to quickly and efficiently send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for this tax season and file your taxes online free. It’s advertised as simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination prepaid visa and savings product that lets you to get 1% cashback on all your everyday purchases, as well as earn a very competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform which includes a bunch of different courses on different topics such as saving, investments, crypto, real estate and more.
All of the mentioned features, along with Wealthsimple Trade can be found inside the app or at their site with one login.
How Can I Begin Using Wealthsimple Trade?
Click here to setup a new Wealthsimple Trade account. For an exclusive registration bonus offer for our readers you will receive the equivalent cash value of a random Canadian stock valued at up to $4,500 CAD as soon as you fund your account.
But What if I Still Have Questions About Close Wealthsimple Account?
If this blog post didn’t answered all of your questions, and you’re browsing for more specific info about Close Wealthsimple Account, go to the Wealthsimple website to get answers to all your questions.