What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian web based investing, securities plus crypto trading platform that sets itself apart from other apps by charging absolutely no fees.
A leading Canadian online financial services business founded in Fall twenty fourteen originally as a robo advisor automated trading app called Wealthsimple Invest, it has grown considerably over the previous eight years to include Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets investors trade individual stocks and ETFs without needing to pay commissions. The exception is when trading stocks that are displayed in US Dollars. In this case, they charge a nominal currency conversion fee both when buying and selling. However, behind us are the days of paying Upwards of $7 per each trade with discount brokerages as was expected just a couple years ago.
Exactly How Much Money Will I Need to Have to Begin Investing on Wealthsimple Trade?
Wealthsimple is special such that they will allow Canadian investors to make a minimum deposit of just $1. Many traditional banks and brokerages have sizeable initial deposit amounts of 1K-$5000. This makes it hard for the every day new investor to start. With Wealthsimple Trade, you don’t need to be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Have RRSP Accounts?
Yes. Wealthsimple Trade offers registered and non-CRA-registered accounts. One may choose both RRSP and TFSA accounts in the setup phase.
Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a modern mobile app available on both Apple and Android. The smartphone app makes the signup steps and trading of stocks and ETFs very painless.
Is Wealthsimple Trade Secure?
Most definitely. Wealthsimple Trade is secure. Wealthsimple reports in excess of 15 billion CAD in Assets Under Management (AUM). they’ve been expanding for more than 7 years and also employs roughly 600 folks. The main shareholder is the admired publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade is the first no-fees online discount brokerage operating in Canada.
But How Can I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so straight forward to fund your account. Simply connect to a chequing or savings account with your Trade account, then fund your account in only a few clicks. Deposits from financial institutions to Wealthsimple usually take just a few days. Funds can the same way can be moved to your chequing or savings account by the exact same process.
What Additional Benefits and Products Are Available?
Wealthsimple Cash – An alternative to Interac e-Transfers that allows one to quickly and efficiently send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for tax season and file your tax return online for free. It’s described to be easy, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings account that allows you to earn 1% cashback on all your everyday spending, and also get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that offers a ton of courses on saving, investments, crypto, real estate and more.
All of the listed features, including Wealthsimple Trade can be found on the app and from their website with your Wealthsimple login.
But How do I Get Started Using Wealthsimple Trade?
Click here to setup your Wealthsimple Trade account. As an exclusive signup bonus to our readers you will receive the equivalent cash value of a share valued at $25 up to $4,500 CAD once you add funds to your account.
But What if I Still Have Additional Questions Concerning Wealthsimple Cash?
If this review hasn’t given you the answers to each of your questions, and you’re still looking for more specific information about Wealthsimple Cash, visit the Wealthsimple site to find answers to each your questions.