What is Wealthsimple?
Wealthsimple is an easy to use Canadian web based investing, stock plus crypto trading web app that differentiates itself from the competition by charging absolutely no fees.
A Toronto, Ontario based online financial services business founded in Fall twenty fourteen exclusively as a robo advisor algorithmic trading app called Wealthsimple Invest, it has grown considerably over the past eight years to feature Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets investors to trade single stocks and also ETFs without having to pay commissions. The exception is when you’re trading stocks which are listed in US Dollars. In that case, they charge a small currency conversion fee both when buying and selling. But, past us are the days of having to pay $7-12 for each trade with online discount brokerages as was common only a few years ago.
Exactly How Much in Funds Will I Need to Have in Order to Start Investing With Wealthsimple Trade?
Wealthsimple is unique in that they will allow new customers to make a minimum deposit of only $1. Most traditional banks and brokerages have quite large minimum deposit amounts of $1000-5K. This makes it difficult for the every day investor to get started. With Wealthsimple Trade, you don’t have to already be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Offer RRSP Accounts?
Of course. Wealthsimple Trade has available registered and non-registered accounts. One are free to select between both RRSP and TFSA account types in the setup wizard.
Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a convenient mobile app available on iOS and Google Play. The mobile app makes the enrollment phase and also trading of stocks and ETFs very simple.
So Is Wealthsimple Trade Trustworthy?
Yes. 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 employs over 600 Canadians. The primary owner is the large public Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fees digital discount brokerage operating in Canada.
But How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so straight forward to fund your new account. Just connect the app to a chequing or savings account to your Trade account, then add money to your account in simply a couple of steps. Deposits from your bank to Wealthsimple typically take a couple of days. Funds can just as easily be moved to your chequing or savings accounts by using the same steps.
What Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to Interac e-transfers which allow one to quickly and easily send cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for tax year and submit your tax return online free. It’s described as easy, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings account which lets you to get 1% cashback on all your spending, as well as earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that includes a ton of online courses on saving, investing, crypto, real estate and much more.
Each of the mentioned products, along with Wealthsimple Trade may be found in the app and on their site with a single login.
But How do I Begin Using Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. For an exclusive registration bonus to our audience you’ll receive the equivalent cash value of a random stock worth $25 up to $4,500 CAD when you make an initial deposit to your account.
What if I Still Have Questions Concerning Power Corp Wealthsimple?
If this blog post hasn’t answered all of your questions, and you’re still browsing for more specific answers relating to Power Corp Wealthsimple, visit the Wealthsimple website to get answers to each your questions.