What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian web based investing, stocks and crypto trading platform that differentiates itself from the competition by charging absolutely no fees.
A Toronto, Ontario based online financial services business launched in Autumn of 2014 exclusively as a robo advisor algorithmic trading platform called Wealthsimple Invest, it has evolved significantly over the past 8 years to include Wealthsimple Trade, a no fee discount brokerage service.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets consumers to trade single stocks and also ETFs without having to pay commissions. The exception is when trading ETFs and stocks which are displayed in USD. In this case, they will charge a currency conversion fee when buying and selling. But, behind us are the times of paying Upwards of $7 per trade with online discount brokerages as was the norm a couple years ago.
Exactly How Much Cash do I Need to Get Started With Wealthsimple Trade?
Wealthsimple is cool such that they allow Canadian investors to make a minimum deposit of just $1. Many alternative banks and discount brokerages have large initial deposit amounts of $1,000-5k. This makes it difficult for the everyday investor to start. With Wealthsimple Trade, you won’t have to be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Offer RRSP Accounts?
Yes. Wealthsimple Trade has available both registered and non-CRA-registered accounts. You can select both RRSP and TFSA accounts in the setup wizard.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a easy to use mobile app that is available on IOS and also Android. The smartphone app makes the registration phase and also trading of stocks and ETFs very easy.
So Is Wealthsimple Trade Safe?
Definitely. Wealthsimple Trade is legit. Wealthsimple boasts more than 15 billion Canadian of Assets Under Management . They have been expanding for more than 7 years and also currently employs over 600 Canadians. The main shareholder is the large publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade was the first no-fees digital discount brokerage operating in Canada.
How Does One Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it easy to fund your new account. Just connect the app to a chequing or savings account to your Trade account, and add funds to your account in only a few clicks. Deposits from your bank to Wealthsimple usually take only a few days. Funds can just as easily be withdrawn a chequing or savings accounts with the same process.
Which Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is equivalent to Interac e-transfers that allows you to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for this tax year and submit your taxes online free. It’s advertised to be simple, accurate and always totally free income tax filing.
Wealthsimple Spend – A combination prepaid debit card and savings product that lets you to get 1% cashback on your spending, and also get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that offers a bunch of different courses on different topics such as saving, investments, crypto, home buying and more.
All of the listed products, including Wealthsimple Trade may be accessed within the mobile app and at the website with one login.
So How Can I Begin With Wealthsimple Trade?
Click here to create a new Wealthsimple Trade account. As an exclusive registration bonus for our readers you will get the cash value of a random stock worth up to $4,500 Canadian as soon as you fund your account.
What if I Still Have Additional Questions About New Crypto On Wealthsimple?
If this review didn’t answered each of your questions, and you’re looking for further specific information about New Crypto On Wealthsimple, go to the Wealthsimple website to get answers to all your questions.