What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based Financial, stock and crypto trading app that distinguishes itself from other apps by charging no fees.
A leading Canadian online financial services business founded in Fall of twenty fourteen originally as a robo-advisor automated trading app named Wealthsimple Invest, it has evolved significantly over the last 8 years to also feature Wealthsimple Trade, a zero fees discount brokerage app.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows consumers to trade both stand alone stocks and also ETFs without needing to pay commissions. The exception to this is when you’re trading ETFs and stocks which are displayed in USD currency. In which case, they will charge a nominal currency conversion fee when buying and selling. However, gone are the days of paying $7-12 per trade with online discount brokerages as was normal only a few years ago.
Exactly How Much Money Will I Need to Have to Get Started With Wealthsimple Trade?
Wealthsimple is special in that they will allow Canadian investors to make a minimum deposit of only $1. The majority of alternative banks and discount brokerages have sizeable minimum deposit amounts of $1,000-5K. This makes it tough for the typical new investor to get started. With Wealthsimple Trade, one doesn’t need to be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Offer RRSP Accounts?
It does. Wealthsimple Trade has CRA registered and non-registered account types. One are able to choose between both RRSP and TFSA account types in the setup process.
But Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a convenient mobile app that is available on iOS and also Google Play. The smartphone app makes the signup phase and also the trading of stocks and ETFs easy.
But Is Wealthsimple Trade Trustworthy?
For sure. Wealthsimple Trade is trustworthy. Wealthsimple reports more than 15 billion CAD in Assets Under Management . they’ve been operating for more than 7 years and currently employs about 600 people. The controlling shareholder is the admired public Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital brokerage to operate in Canada.
But How Can I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very straight forward to add money to a new account. Simply connect the app to a chequing or savings account with your Trade account, then fund your account in just a few steps. Deposits from your bank to Wealthsimple usually take only a couple of days. Funds can just as easily be moved back to your chequing or savings accounts by using the same method.
Which Additional Features and Products Are Available?
Wealthsimple Cash – This is equivalent to Interac E-Transfers which allow you to quickly and efficiently send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for tax season and submit your tax return online free. It’s advertised as easy, accurate and always totally free tax filing.
Wealthsimple Spend – A combination prepaid visa and savings account which allows one to recieve 1% cashback on your everyday purchases, as well as get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that includes a ton of courses on different topics such as saving, investing, crypto, home buying and much more.
Each of the listed features, along with Wealthsimple Trade may be accessed in the mobile app or at their website with a single login.
But How Can I Begin With Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. As a special registration bonus to our audience you’ll get the equivalent cash value of a share worth $25 up to $4,500 CAD as soon as you fund your account.
But What if I Still Have Additional Questions About Greedyrates Wealthsimple?
If this article didn’t answered each of your questions, and you’re still browsing for further specific answers about Greedyrates Wealthsimple, visit the Wealthsimple site to get answers to every one of your questions.