What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based investing, securities plus crypto trading app that sets itself apart from other apps by charging no fees.
A leading Canadian fintech company launched in the Autumn of 2014 exclusively as a robo-advisor automated trading platform called Wealthsimple Invest, it has changed significantly over the previous eight years to feature Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade allows consumers trade both single stocks and ETFs without needing to pay fees. The exception is when trading ETFs and stocks that are denominated in USD currency. In that case, they do charge a nominal currency conversion fee when buying and selling. However, behind us are the times of paying $7-12 per each trade with digital discount brokerages as was expected only a couple years past.
Exactly How Much in Funds Will I Need to Have in Order to Get Started on Wealthsimple Trade?
Wealthsimple is special such that they will allow investors to make a minimum deposit of only $1. Most traditional banks and brokerages have large initial deposit amounts of $1000-$5,000. This makes it tough for the typical new investor to get started. With Wealthsimple Trade, one doesn’t have to be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Have RRSP Accounts?
It does. Wealthsimple Trade has available both registered and non-registered account types. One may select between both RRSP and TFSA accounts during the setup phase.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a modern mobile app available to download on both IOS and Google Play. The mobile app makes the registration phase and also trading of stocks and ETFs super a breeze.
So Is Wealthsimple Trade Safe?
For sure. Wealthsimple Trade is legit. Wealthsimple has more than 15 billion Canadian of Assets Under Management (AUM). These folks have been doing business for more than 7 years and employs more than 600 people. The controlling shareholder is the large publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the very first no-fee online brokerage operating in Canada.
How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it easy to add funds to a new account. Simply connect the app to a chequing or savings account with your Trade account, then add money to your account in simply a few clicks. Deposits from banks to Wealthsimple normally take a couple of days. Funds can just as easily be withdrawn your chequing or savings accounts using the exact same process.
Which Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An equivalent to Interac e-Transfers which allows one to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for tax season and submit your taxes online for free. It’s described as simple, accurate and always free tax filing.
Wealthsimple Spend – A combination prepaid debit card and savings account which allows one to get 1% cashback on all your everyday spending, as well as earn a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that offers a variety of courses on topics like saving, investments, crypto, real estate and more.
All of the above products, along with Wealthsimple Trade can be found on the mobile app and on their site with one login.
But How Should I Get Started With Wealthsimple Trade?
Click here to setup a new Wealthsimple Trade account. As an exclusive registration bonus offer to our audience you will receive the equivalent cash value of a random stock valued at $25 up to $4,500 CAD when you add funds to your account.
So What if I Still Have Additional Questions Concerning Wealthsimple Invest Performance Review?
If this review still hasn’t given you the answers to each of your questions, and you’re still browsing for more specific facts about Wealthsimple Invest Performance Review, visit the Wealthsimple website for answers to all your questions.