What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian online investing, stock and crypto trading app that sets itself apart from other apps by charging absolutely no fees.
A leading Canadian fintech company launched in the Fall of twenty fourteen exclusively as a robo-advisor automated trading app named Wealthsimple Invest, it has changed considerably over the last eight years to include Wealthsimple Trade, a zero fees discount brokerage app.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets consumers trade stand alone stocks and also ETFs without paying any commissions. The exception to this is when you’re trading stocks and ETFs that are listed in USD currency. In which case, they charge a nominal currency conversion fee when buying and selling. But, gone are the days of paying more than $7 per each trade with discount brokerages as was normal a couple years past.
Exactly How Much in Funds do I Need in Order to Start Investing on Wealthsimple Trade?
Wealthsimple is cool in that they allow investors to make a minimum deposit of only $1. Many traditional banks and brokerages have large initial deposit amounts of 1k-5k. This makes it hard for the everyday investor to get started. With Wealthsimple Trade, you don’t have to be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Have Registered Accounts?
Yes. Wealthsimple Trade offers both registered and non-CRA-registered account types. One are able to select between both RRSP and TFSA accounts in the setup process.
But Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a convenient mobile app available to download on iOS and Android. The smartphone app makes the signup phase and the trading of stocks and ETFs very easy.
So Is Wealthsimple Trade Safe?
Yes. Wealthsimple Trade is safe. Wealthsimple has over 15 billion Canadian of Assets Under Management (AUM). This company has been in business for more than 7 years and at this time employs more than 600 folks. The main owner is the large public Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fees online brokerage to operate in Canada.
But How Do I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite straight forward to add funds to your account. Just connect a chequing or savings account to your Trade account, and then fund your account in simply a few clicks. Deposits from your bank to Wealthsimple typically take just a couple of days. Funds can just as easily be moved to a chequing or savings account using the exact same method.
What Additional Benefits and Products Are Available?
Wealthsimple Cash – An equivalent to Interac E-transfers that allows you to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for this tax year and file your taxes online for free. It’s advertised to be easy, accurate and always totally free tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings product that lets you to earn 1% cashback on your spending, and also get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform which offers a ton of online courses on different topics such as saving, investing, crypto, mortgages and much more.
Every one of the mentioned features, along with Wealthsimple Trade may be accessed on the mobile app and on their site with a single login.
How do I Start With Wealthsimple Trade?
Click here to setup a new Wealthsimple Trade account. For an exclusive registration bonus for our audience you will get the cash value of a random Canadian stock valued at $25 up to $4,500 Canadian once you make an initial deposit to your account.
But What if I Still Have Questions Related to Is Wealthsimple Review?
If this blog post still hasn’t given you the answers to all of your questions, and you’re looking for additional specific facts relating to Is Wealthsimple Review, visit the Wealthsimple site to find answers to each your questions.