What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian digital Financial, stocks plus crypto trading web app that distinguishes itself from similar apps by charging absolutely no fees.
A Toronto, Ontario based fintech company founded in the Fall 2014 originally as a robo-advisor trading platform called Wealthsimple Invest, it has changed considerably over the previous 8 years to include Wealthsimple Trade, a no fee discount brokerage service.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets Canadian consumers to trade both stand alone stocks and also ETFs without needing to pay commissions. The exception to this is when you’re trading ETFs and stocks that are denominated in USD. In that case, they charge a nominal currency conversion fee both when buying and selling. However, behind us are the days of having to pay Upwards of $7 for each trade with online discount brokerages as was the case a couple years past.
Exactly How Much Money Will I Need to Have to Get Started With Wealthsimple Trade?
Wealthsimple is awesome such that they allow investors to make a minimum deposit of just $1. The majority of alternative banks and brokerages have quite large minimum deposit amounts of 1K-$5000. This makes it hard for the normal investor to start. With Wealthsimple Trade, you won’t need to already be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Have RRSP Accounts?
They do. Wealthsimple Trade has available CRA registered and non-CRA-registered accounts. One are free to choose between both RRSP and TFSA account types during the setup process.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a modern mobile app that is offered on both iOS and also Android. The mobile app makes the signup steps and trading of stocks and ETFs incredibly simple.
So Is Wealthsimple Trade Safe?
Most definitely. Wealthsimple Trade is secure. Wealthsimple has more than 15 billion CAD of Assets Under Management (AUM). they’ve been expanding for more than 7 years and employs more than 600 people. The majority shareholder is the admired publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fees online discount brokerage to operate in Canada.
How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it simple to add funds to an account. Simply connect to a chequing or savings account with your Trade account, and then add money to your account in just a couple of steps. Deposits from banks to Wealthsimple typically take a few days. Funds can just as easily be moved back to your chequing or savings account by using the exact same steps.
Which Additional Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An alternative to Interac e-Transfers which allow you to quickly and efficiently send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for this tax season and file your tax return online free. It’s pitched to be easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination pre paid debit card and savings account which allows one to earn 1% cashback on your everyday purchases, and also earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform which includes a variety of different online courses on different topics such as saving, investments, crypto, mortgages and more.
Every one of the listed features, including Wealthsimple Trade may be accessed within the mobile app or on the site with your Wealthsimple login.
So How do I Begin Using Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. For an exclusive signup bonus offer for our readers you will get the cash value of a Canadian stock worth up to $4,500 Canadian as soon as you add funds to your account.
But What if I Still Have Questions Related to Questrade Vs Wealthsimple Reddit?
If this blog post didn’t given you the answers to each of your questions, and you’re still looking for additional specific information relating to Questrade Vs Wealthsimple Reddit, go to the Wealthsimple website to find answers to all your questions.