What is Wealthsimple?
Wealthsimple is an easy to use Canadian digital Financial, stocks plus crypto trading web app that differentiates itself from the competition by charging no fees.
A Toronto, Ontario based online financial services business founded in the Autumn of twenty fourteen exclusively as a robo-advisor automated trading app called Wealthsimple Invest, it has improved considerably over the last 8 years to also include Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets Canadian consumers trade single stocks and ETFs without having to pay commissions. The exception to this is when trading ETFs and stocks which are displayed in US Dollars. In this case, they will charge a currency conversion fee both when buying and selling. But, past us are the days of paying more than $7 per trade with digital discount brokerages as was the case just a couple years past.
Exactly How Much Money Will I Need in Order to Start on Wealthsimple Trade?
Wealthsimple is special such that they allow new customers to make a minimum deposit of just $1. Many traditional banks and discount brokerages have large initial deposit amounts of $1000-5k. This makes it impossible for the normal investor to start. With Wealthsimple Trade, you don’t have to already be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Have RRSP Accounts?
Yes. Wealthsimple Trade offers CRA registered and non-registered account types. One may select between both RRSP and TFSA accounts during the setup process.
Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a convenient mobile app available on IOS and Android. The smartphone app makes the enrollment steps and trading of stocks and ETFs super simple.
Is Wealthsimple Trade Safe?
Definitely. Wealthsimple Trade is trustworthy. Wealthsimple has over 15 billion Canadian of Assets Under Management (AUM). They have been operating for more than 7 years and also now employs more than 600 Canadians. The main shareholder is the admired publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital brokerage to operate in Canada.
But How Does One Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly easy to deposit to a new account. Just connect a chequing or savings account with your Trade account, and add money to your account in simply a few clicks. Deposits from financial institutions to Wealthsimple typically take a couple of days. Funds can the same way can be moved to your chequing or savings account by the same process.
Which Additional Benefits and Products Are Available?
Wealthsimple Cash – An equivalent to e-transfers that allow you to quickly and efficiently send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for this tax season and file your tax return online free. It’s pitched to be simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination pre paid visa and savings account that allows you to get 1% cashback on all your spending, as well as earn a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform which includes a variety of courses on saving, investing, crypto, mortgages and more.
Every one of the mentioned products, including Wealthsimple Trade may be found inside the mobile app or at the website with your Wealthsimple login.
So How Should I Start With Wealthsimple Trade?
Click here to setup your Wealthsimple Trade account. For a special registration bonus to our audience you’ll receive the cash value of a share worth $25 up to $4,500 CAD as soon as you add funds to your account.
So What if I Still Have Additional Questions About Wealthsimple Generation Review?
If this review didn’t answered all of your questions, and you’re still looking for additional facts about Wealthsimple Generation Review, visit the Wealthsimple site for answers to all your questions.