What is Wealthsimple?
Wealthsimple is a simple to use Canadian digital Financial, stocks and crypto trading web app that distinguishes itself from similar apps by charging absolutely no fees.
A Toronto, Ontario based fintech business launched in the Autumn of 2014 originally as a robo advisor trading app named Wealthsimple Invest, it has improved significantly over the previous eight years to feature Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows investors trade both single stocks and ETFs without needing to pay commissions. The exception is when you’re trading securities that are displayed in US Dollars. In which case, they do charge a small currency conversion fee both when buying and selling. But, past us are the days of having to pay more than $7 per each trade with digital discount brokerages as was normal just a couple years ago.
Exactly How Much Cash Will I Need in Order to Start Investing With Wealthsimple Trade?
Wealthsimple is awesome in that they will allow new customers to make a minimum deposit of only $1. Many traditional banks and brokerages have large minimum deposit amounts of $1,000-$5,000. This makes it impossible for the normal new investor to start. With Wealthsimple Trade, you don’t need to already be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Offer RRSP Accounts?
It does. Wealthsimple Trade has both registered and non-registered accounts. One can select both RRSP and TFSA accounts in the setup wizard.
Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a modern mobile app offered on Apple and Google Play. The mobile app makes the enrollment process and the trading of stocks and ETFs very easy.
But Is Wealthsimple Trade Secure?
. Wealthsimple Trade is legit. Wealthsimple boasts more than 15 billion Canadian of Assets Under Management . they’ve been operating for more than 7 years and also now employs about 600 people. The main owner is the publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fees digital discount brokerage operating in Canada.
But How Does One Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so simple to fund your account. Just connect the app to a chequing or savings account to your Trade account, and then add funds to your account in simply a few steps. Deposits from your bank to Wealthsimple usually take a couple of days. Funds can also be moved to your chequing or savings account by the exact same steps.
What Other Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to e-transfers which allow one to quickly and simply send cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for this tax year and submit your tax return online free. It’s described as easy, accurate and always free tax return filing.
Wealthsimple Spend – A combination prepaid debit card and savings account that lets you to earn 1% cashback on all your purchases, and also get a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform that includes a variety of different courses on different topics such as saving, investing, crypto, real estate and much more.
Each of the mentioned products, including Wealthsimple Trade may be accessed within the mobile app or at the website with your Wealthsimple login.
But How Should I Begin With Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. For a special registration bonus to our audience you will get the cash value of a share worth up to $4,500 CAD once you make an initial deposit to your account.
But What if I Still Have Additional Questions Related to Tax Documents Wealthsimple?
If this article didn’t given you the answers to all of your questions, and you’re browsing for additional answers about Tax Documents Wealthsimple, visit the Wealthsimple website to find answers to all your questions.