What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian online investing, securities plus crypto trading web app that differentiates itself from similar apps by charging absolutely no fees.
A leading Canadian online financial services company launched in Fall 2014 exclusively as a robo-advisor algorithmic automated trading platform named Wealthsimple Invest, it has grown considerably over the past eight years to also feature Wealthsimple Trade, a no fee discount brokerage service.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows consumers trade both stand alone stocks and ETFs without having to pay any commissions. The exception is when trading stocks and ETFs which are displayed in USD. In which case, they do charge a small currency conversion fee when buying and selling. But, gone are the days of having to pay more than $7 for each trade with online discount brokerages as was common a few years past.
Exactly How Much Cash Will I Need to Have in Order to Start Investing on Wealthsimple Trade?
Wealthsimple is special such that they will allow Canadian investors to make a minimum deposit of just $1. The majority of traditional banks and discount brokerages have quite large min deposit amounts of 1K-$5000. This makes it tough for the every day new investor to start investing. With Wealthsimple Trade, you don’t need to already be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Have RRSP Accounts?
Of course. Wealthsimple Trade has available both registered and non-registered account types. You can choose between both RRSP and TFSA accounts in the setup phase.
But Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a well designed mobile app that is offered to download on both Apple and Android. The smartphone app makes the enrollment steps and the trading of stocks and ETFs truly painless.
Is Wealthsimple Trade Legit?
Of course. Wealthsimple Trade is safe. Wealthsimple reports over 15 billion CAD in Assets Under Management . They have been doing business for more than 7 years and employs roughly 600 people. The primary owner is the admired public Canadian corporation Power Corp of Canada. Weapthsimple Trade was the very first no-fees online brokerage to operate in Canada.
How Can I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite easy to deposit to a new account. Just connect to a chequing or savings account with your Trade account, and then add money to your account in just a few clicks. Deposits from financial institutions to Wealthsimple typically take a few days. Funds can just as easily be moved back to your chequing or savings accounts using the same steps.
Which Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to Interac e-transfers that allow one to quickly and efficiently transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for tax season and file your taxes online free. It’s described to be easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings product which lets one to recieve 1% cashback on all your purchases, as well as get a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform which includes a bunch of courses on saving, investments, crypto, real estate and more.
Each of the above features, along with Wealthsimple Trade may be found inside the mobile app and on the website with one login.
So How do I Begin Using Wealthsimple Trade?
Click here to signup for a new Wealthsimple Trade account. As an exclusive registration bonus offer for our readers you will receive the equivalent cash value of a random Canadian stock valued at $25 up to $4,500 CAD when you make an initial deposit to your account.
But What if I Still Have Additional Questions About Is Wealthsimple Trade App Safe?
If this review hasn’t answered all of your questions, and you’re still searching for more specific info about Is Wealthsimple Trade App Safe, visit the Wealthsimple website to get answers to all your questions.