What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian digital Financial, stocks plus crypto trading web app that sets itself apart from its competitors by charging no fees.
A leading Canadian online financial services company founded in Autumn twenty fourteen originally as a robo-advisor automated trading app named Wealthsimple Invest, it has grown substantially over the last 8 years to include Wealthsimple Trade, a zero fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets investors to trade both individual stocks and also ETFs without needing to pay fees. The exception to this is when you’re trading stocks which are listed in US Dollars. In which case, they charge a small currency conversion fee both when buying and selling. But, gone are the days of paying more than $7 per trade with digital discount brokerages as was the case a couple years ago.
Exactly How Much in Funds Will I Need to Have to Get Started on Wealthsimple Trade?
Wealthsimple is cool in that they will allow Canadians to make a minimum deposit of just $1. Many traditional banks and discount brokerages have sizeable min deposit amounts of $1000-$5000. This makes it difficult for the every day new investor to get started. With Wealthsimple Trade, one doesn’t need to be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Offer RRSP Accounts?
Yes. Wealthsimple Trade has both CRA registered and non-CRA-registered account types. You are able to select both RRSP and TFSA account types during the setup process.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a convenient mobile app that is available to download on Apple and also Google Play. The mobile app makes the enrollment process and also trading of stocks and ETFs incredibly painless.
So Is Wealthsimple Trade Trustworthy?
For sure. Wealthsimple Trade is secure. Wealthsimple reports over 15 billion Canadian of Assets Under Management . This company has been operating for more than 7 years and currently employs over 600 Canadians. The controlling owner is the admired publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the very first no-fees digital discount brokerage to operate in Canada.
So How Can I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it straight forward to fund an 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 clicks. Deposits from your bank to Wealthsimple normally take a few days. Funds can just as easily be moved to your chequing or savings accounts by the exact same method.
What Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to e-Transfers which allows anyone to quickly and simply send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for tax year and submit your tax return online free. It’s advertised as simple, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid prepaid visa and savings product that allows one to recieve 1% cashback on all your spending, as well as earn a very competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform which includes a bunch of online courses on saving, investments, crypto, mortgages and more.
All of the above features, along with Wealthsimple Trade may be found inside the app and from their website with one login.
So How Can I Begin With Wealthsimple Trade?
Click here to signup for a new Wealthsimple Trade account. As an exclusive signup bonus offer to our audience you will get the cash value of a Canadian stock worth $25 up to $4,500 Canadian once you make an initial deposit to your account.
So What if I Still Have Questions Concerning Questrade Or Wealthsimple?
If this blog post still hasn’t answered each of your questions, and you’re searching for more answers relating to Questrade Or Wealthsimple, visit the Wealthsimple site to find answers to every one of your questions.