What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital Financial, securities plus crypto trading web app that differentiates itself from the competition by charging absolutely no fees.
A Toronto, Ontario based fintech company founded in the Fall 2014 exclusively as a robo-advisor algorithmic trading app called Wealthsimple Invest, it has improved considerably over the past eight years to feature Wealthsimple Trade, a zero fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets Canadian consumers trade stand alone stocks and also ETFs without having to pay fees. The exception to this is when you’re trading securities that are denominated in USD currency. In that case, they charge a small currency conversion fee when buying and selling. But, behind us are the times of paying $7-12 for each trade with digital discount brokerages as was expected just a couple years past.
How Much Cash Will I Need to Get Started With Wealthsimple Trade?
Wealthsimple is awesome such that they will allow Canadians to make a minimum deposit of only $1. Most traditional banks and brokerages have large min deposit amounts of $1,000-5k. This makes it difficult for the everyday new investor to start investing. With Wealthsimple Trade, you don’t need to already be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Have RRSP Accounts?
Of course. Wealthsimple Trade has available both CRA registered and non-registered account types. You are able to select both RRSP and TFSA accounts in the setup process.
Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a well designed mobile app offered on both iOS and also Android. The app makes the registration process and the trading of stocks and ETFs incredibly easy.
So Is Wealthsimple Trade Legit?
Definitely. Wealthsimple Trade is safe. Wealthsimple reports over 15 billion CAD of Assets Under Management . This company has been operating for more than 7 years and also right now employs over 600 Canadians. The primary owner is the respected publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade was the first no-fee digital discount brokerage to operate in Canada.
How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite straight forward to add funds to your new account. Simply connect the app to a chequing or savings account with your Trade account, and add money to your account in only a few steps. Deposits from financial institutions to Wealthsimple usually take just a couple of days. Funds can also be moved back to a chequing or savings accounts with the same steps.
What Additional Benefits and Products Are Available?
Wealthsimple Cash – This is alternative to Interac E-Transfers that allows anyone to quickly and simply transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for tax year and file your tax return online free. It’s described to be simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination pre paid debit card and savings account that allows you to recieve 1% cashback on all your purchases, as well as get a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform which includes a variety of different online courses on saving, investing, crypto, real estate and more.
Every one of the listed products, including Wealthsimple Trade can be found on the app and at the site with a single login.
So How do I Begin With Wealthsimple Trade?
Click here to signup for a new Wealthsimple Trade account. As an exclusive registration bonus offer for our readers you’ll get the cash value of a random Canadian stock valued at up to $4,500 Canadian as soon as you fund your account.
What if I Still Have Questions About Wealthsimple 100 Bonus?
If this article hasn’t answered all of your questions, and you’re searching for additional specific facts relating to Wealthsimple 100 Bonus, check out the Wealthsimple website to get answers to all your questions.