Rrsp Wealthsimple Review

What is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian web based Financial, securities and crypto trading web app that distinguishes itself from other apps by charging absolutely no fees.

A fintech company launched in the Autumn of twenty fourteen originally as a robo-advisor algorithmic trading platform called Wealthsimple Invest, it has grown significantly over the previous eight years to include Wealthsimple Trade, a zero fee discount brokerage app.

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade allows Canadian consumers to trade both individual stocks and ETFs without paying any fees. The exception to this is when trading stocks which are displayed in USD currency. In which case, they charge a currency conversion fee both when buying and selling. But, past us are the times of having to pay $7-12 per each trade with discount brokerages as was the case a few years past.

How Much Cash Will I Need to Start With Wealthsimple Trade?

Wealthsimple is cool in that they allow new customers to make a minimum deposit of only $1. Most alternative banks and brokerages have large initial deposit amounts of 1K-$5000. This makes it difficult for the normal new investor to get started. With Wealthsimple Trade, one doesn’t need to be wealthy to get started with trading stocks and ETFs.

So Does Wealthsimple Trade Have TFSA Accounts?

They do. Wealthsimple Trade has both CRA registered and non-registered accounts. You are able to select both RRSP and TFSA accounts during the setup wizard.

So Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade offers a modern mobile app that is available to download on IOS and also Google Play. The mobile app makes the signup process and also trading of stocks and ETFs super easy.

Is Wealthsimple Trade Safe?

. Wealthsimple Trade is legit. Wealthsimple has over 15 billion Canadian in Assets Under Management (AUM). This company has been expanding for more than 7 years and employs about 600 Canadians. The majority shareholder is the respected publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fees digital brokerage operating in Canada.

But How Does One Add Funds to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it incredibly simple to add money to a new account. Simply connect a chequing or savings account with your Trade account, and add funds to your account in just a few steps. Deposits from your bank 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 exact same steps.

Which Additional Benefits and Products Are Available?

Wealthsimple Cash – This is equivalent to e-Transfers that allow one to quickly and easily transfer cash to friends and family in Canada.

Wealthsimple Tax – Everything you require to prepare for tax season and file your taxes online for free. It’s pitched to be simple, accurate and always totally free tax filing.

Wealthsimple Spend – A hybrid prepaid debit card and savings product that lets you to get 1% cashback on all your everyday purchases, and also get a competitive 1.5% interest rate on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which offers a ton of online courses on different topics such as saving, investing, crypto, real estate and more.

Each of the mentioned features, including Wealthsimple Trade can be found within the mobile app or on the site with your Wealthsimple login.

How do I Start Using Wealthsimple Trade?

Click here to create your Wealthsimple Trade account. As a special registration bonus offer to our audience you will get the cash value of a Canadian stock valued at up to $4,500 Canadian as soon as you fund your account.

What if I Still Have Additional Questions Related to Rrsp Wealthsimple Review?

If this blog post still hasn’t given you the answers to each of your questions, and you’re browsing for more facts relating to Rrsp Wealthsimple Review, check out the Wealthsimple site for answers to all your questions.