What is Wealthsimple?
Wealthsimple is a simple to use Canadian web based investing, stock and crypto trading app that sets itself apart from similar apps by charging no fees.
A fintech company founded in the Autumn twenty fourteen exclusively as a robo-advisor automated trading platform named Wealthsimple Invest, it has grown significantly over the previous eight years to also feature Wealthsimple Trade, a no fee discount brokerage app.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets Canadian investors to trade individual stocks and also ETFs without having to pay commissions. The exception to this is when you’re trading stocks that are displayed in USD currency. In that case, they do charge a nominal currency conversion fee both when buying and selling. However, behind us are the days of paying $7-12 for each trade with online discount brokerages as was normal just a couple years past.
Exactly How Much Cash do I Need in Order to Get Started With Wealthsimple Trade?
Wealthsimple is unique such that they will allow Canadians to make a minimum deposit of just $1. The majority of alternative banks and brokerages have sizeable initial deposit amounts of $1000-$5,000. This makes it difficult for the every day new investor to get started. With Wealthsimple Trade, you don’t need to already be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Have RRSP Accounts?
Yes. Wealthsimple Trade offers both CRA registered and non-registered accounts. You can select between both RRSP and TFSA accounts in the setup phase.
So Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a well designed mobile app offered on IOS and also Android. The smartphone app makes the registration process and also the trading of stocks and ETFs easy.
Is Wealthsimple Trade Legit?
Yes. Wealthsimple Trade is secure. Wealthsimple boasts over 15 billion CAD of Assets Under Management . they’ve been doing business for more than 7 years and right now employs about 600 people. The main shareholder is the public Canadian corporation Power Corp of Canada. Weapthsimple Trade is the very first no-fee online discount brokerage to operate in Canada.
But How Can I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very simple to add money to an account. Simply connect the app to a chequing or savings account with your Trade account, then add funds to your account in simply a couple of steps. Deposits from financial institutions to Wealthsimple typically take a couple of days. Funds can also be moved back to your chequing or savings accounts using the same method.
What Additional Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An equivalent to Interac E-transfers that allows one to quickly and simply transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for this tax year and file your taxes online free. It’s pitched as easy, accurate and always free tax filing.
Wealthsimple Spend – A hybrid pre paid visa and savings product which lets you to get 1% cashback on your purchases, and also get a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that includes a bunch of different online courses on saving, investments, crypto, mortgages and more.
All of the listed features, along with Wealthsimple Trade can be found in the app or from their site with your Wealthsimple login.
How Can I Start With Wealthsimple Trade?
Click here to signup for a Wealthsimple Trade account. As an exclusive registration bonus offer for our readers you will receive the equivalent cash value of a stock worth $25 up to $4,500 CAD once you make an initial deposit to your account.
So What if I Still Have Additional Questions Related to Wealthsimple Foundation?
If this review hasn’t given you the answers to each of your questions, and you’re looking for more specific facts about Wealthsimple Foundation, go to the Wealthsimple website to get answers to each your questions.