What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online investing, securities and crypto trading platform that distinguishes itself from other apps by charging absolutely no fees.
A Toronto, Ontario based online financial services company launched in Autumn of twenty fourteen originally as a robo advisor automated trading app called Wealthsimple Invest, it has improved significantly over the previous eight years to also feature Wealthsimple Trade, a zero fees discount brokerage app.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets investors trade stand alone stocks and ETFs without paying fees. The exception to this is when trading securities that are denominated in US Dollars. In that case, they will charge a nominal currency conversion fee both when buying and selling. However, behind us are the days of having to pay more than $7 for each trade with discount brokerages as was the case just a few years ago.
How Much Money do I Need to Have to Start Investing With Wealthsimple Trade?
Wealthsimple is special in that they will allow Canadians to make a minimum deposit of just $1. Many alternative banks and discount brokerages have large minimum deposit amounts of 1k-$5,000. This makes it difficult for the everyday new investor to start. With Wealthsimple Trade, you don’t have to already be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Have Registered Accounts?
Of course. Wealthsimple Trade offers both registered and non-CRA-registered accounts. One may select both RRSP and TFSA accounts in the setup phase.
Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a well designed mobile app offered to download on iOS and Android. The app makes the enrollment steps and also trading of stocks and ETFs very easy.
Is Wealthsimple Trade Secure?
Definitely. Wealthsimple Trade is legit. Wealthsimple boasts over 15 billion CAD of Assets Under Management . This company has been expanding for more than 7 years and also right now employs more than 600 folks. The main owner is the admired publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the first no-fee digital discount brokerage operating in Canada.
How Can I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so simple to add funds to your new account. Simply connect the app to a chequing or savings account to your Trade account, and then add money to your account in only a couple of steps. Deposits from banks to Wealthsimple usually take only a couple of days. Funds can the same way can be moved to a chequing or savings accounts with the same steps.
What Other Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is equivalent to Interac e-transfers which allow one to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for this tax season and file your tax return online for free. It’s described to be simple, accurate and always free income tax filing.
Wealthsimple Spend – A combination pre paid debit card and savings account that allows you to recieve 1% cashback on your purchases, as well as get a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that includes a bunch of online courses on different topics such as saving, investments, crypto, mortgages and much more.
All of the listed products, along with Wealthsimple Trade may be accessed in the mobile app and at their website with one login.
But How Should I Start With Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. As a special signup bonus offer for our readers you will get the equivalent cash value of a share valued at $25 up to $4,500 Canadian as soon as you deposit to your account.
So What if I Still Have Questions Related to James Choi Wealthsimple?
If this blog post hasn’t given you the answers to each of your questions, and you’re searching for further facts relating to James Choi Wealthsimple, check out the Wealthsimple site to get answers to each your questions.