What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online investing, stocks plus crypto trading web app that differentiates itself from the competition by charging absolutely no fees.
A Toronto, Ontario based fintech company launched in the Autumn twenty fourteen exclusively as a robo advisor trading platform called Wealthsimple Invest, it has changed considerably over the previous 8 years to feature Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows consumers trade single stocks and also ETFs without paying fees. The exception to this is when trading stocks that are listed in US Dollars. In that case, they will charge a nominal currency conversion fee when buying and selling. However, behind us are the days of having to pay more than $7 for each trade with digital discount brokerages as was the norm just a couple years past.
How Much in Funds do I Need to Have in Order to Start Investing on Wealthsimple Trade?
Wealthsimple is awesome in that they will allow Canadians to make a minimum deposit of just $1. Many alternative banks and discount brokerages have sizeable min deposit amounts of 1K-$5,000. This makes it impossible for the every day investor to start investing. With Wealthsimple Trade, you don’t have to be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Have RRSP Accounts?
Yes. Wealthsimple Trade has CRA registered and non-registered account types. You may select between both RRSP and TFSA account types during the setup phase.
So Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a modern mobile app offered to download on both Apple and also Google Play. The smartphone app makes the signup phase and also trading of stocks and ETFs very a breeze.
So Is Wealthsimple Trade Legit?
Yes. Wealthsimple Trade is safe. Wealthsimple boasts in excess of 15 billion Canadian in Assets Under Management (AUM). they’ve been doing business for more than 7 years and currently employs over 600 Canadians. The controlling owner is the publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fees online brokerage to operate in Canada.
How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it straight forward to add funds to your new account. Simply connect to a chequing or savings account to your Trade account, then add money to your account in simply a few clicks. Deposits from your bank to Wealthsimple typically take only a few days. Funds can the same way can be moved back to a chequing or savings accounts using the exact same method.
Which Additional Features and Products Are Available?
Wealthsimple Cash – This is alternative to E-transfers which allow one to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for this tax season and submit your taxes online for free. It’s described to be simple, accurate and always free income tax filing.
Wealthsimple Spend – A combination prepaid debit card and savings product which allows one to get 1% cashback on your spending, and also earn a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform that offers a ton of online courses on saving, investments, crypto, home buying and more.
Every one of the mentioned features, along with Wealthsimple Trade may be found within the mobile app and on the website with your Wealthsimple login.
So How Can I Start Using Wealthsimple Trade?
Click here to register for a new Wealthsimple Trade account. As a special signup bonus offer for our audience you’ll receive the equivalent cash value of a share valued at up to $4,500 CAD as soon as you deposit to your account.
What if I Still Have Questions Related to Wealthsimple Income Tax Calculator?
If this review didn’t given you the answers to each of your questions, and you’re looking for more answers relating to Wealthsimple Income Tax Calculator, check out the Wealthsimple website to find answers to all your questions.