What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian digital Financial, stocks plus crypto trading web app that distinguishes itself from other apps by charging absolutely no fees.
A leading Canadian fintech company launched in the Autumn of twenty fourteen exclusively as a robo advisor algorithmic trading app called Wealthsimple Invest, it has changed considerably over the past eight years to include Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade allows Canadian investors to trade both stand alone stocks and ETFs without paying any fees. The exception to this is when you’re trading stocks which are listed in USD currency. In which case, they do charge a small currency conversion fee when buying and selling. But, past us are the times of having to pay more than $7 per trade with online discount brokerages as was normal only a few years ago.
Exactly How Much Money Will I Need to Have to Start With Wealthsimple Trade?
Wealthsimple is awesome in that they allow Canadian investors to make a minimum deposit of only $1. The majority of alternative banks and brokerages have quite large minimum deposit amounts of $1,000-5k. This makes it hard for the normal new investor to get started. With Wealthsimple Trade, one doesn’t have to already be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Offer Registered Accounts?
Yes. Wealthsimple Trade has both registered and non-CRA-registered accounts. One are able to choose between both RRSP and TFSA accounts in the setup phase.
Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a modern mobile app offered on iOS and Google Play. The mobile app makes the signup steps and the trading of stocks and ETFs super easy.
But Is Wealthsimple Trade Safe?
Most definitely. Wealthsimple Trade is trustworthy. Wealthsimple reports over 15 billion Canadian in Assets Under Management . they’ve been doing business for more than 7 years and also now employs about 600 people. The primary owner is the large public Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fee online discount brokerage operating in Canada.
But How Does One Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it easy to fund an account. Just connect the app to a chequing or savings account with your Trade account, and fund your account in only a few clicks. Deposits from financial institutions to Wealthsimple usually take just a couple of days. Funds can the same way can be moved back to your chequing or savings accounts by the exact same method.
What Other Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An alternative to Interac E-transfers that allows you to quickly and efficiently transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for this tax year and submit your taxes online free. It’s advertised to be easy, accurate and always free income tax filing.
Wealthsimple Spend – A combination pre paid debit card and savings account which lets you to recieve 1% cashback on your purchases, as well as earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform which includes a variety of different courses on different topics such as saving, investments, crypto, real estate and more.
Every one of the above products, including Wealthsimple Trade can be accessed within the app or on the website with your Wealthsimple login.
But How do I Begin With Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. For an exclusive registration bonus for our readers you’ll get the equivalent cash value of a share worth up to $4,500 CAD as soon as you deposit to your account.
So What if I Still Have Additional Questions Concerning Wealthsimple For Us?
If this blog post still hasn’t given you the answers to all of your questions, and you’re browsing for further information about Wealthsimple For Us, visit the Wealthsimple website to get answers to all your questions.