What is Wealthsimple?
Wealthsimple is a simple to use Canadian digital investing, securities and crypto trading web app that differentiates itself from similar apps by charging absolutely no fees.
A online financial services company founded in Fall of twenty fourteen exclusively as a robo advisor automated trading platform called Wealthsimple Invest, it has evolved considerably over the last 8 years to also include Wealthsimple Trade, a no fees discount brokerage app.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets investors to trade single stocks and also ETFs without paying any fees. The exception to this is when trading ETFs and stocks that are listed in USD currency. In which case, they do charge a currency conversion fee both when buying and selling. But, behind us are the days of having to pay more than $7 for each trade with digital discount brokerages as was expected only a few years ago.
How Much Cash do I Need to Get Started With Wealthsimple Trade?
Wealthsimple is special in that they allow new customers to make a minimum deposit of just $1. The majority of traditional banks and brokerages have sizeable minimum deposit amounts of 1K-5k. This makes it tough for the everyday investor to get started. With Wealthsimple Trade, you won’t need to already be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Offer RRSP Accounts?
It does. Wealthsimple Trade has available CRA registered and non-registered account types. One can select between both RRSP and TFSA account types during the setup wizard.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a modern mobile app that is offered on both iOS and also Google Play. The app makes the registration phase and trading of stocks and ETFs super a breeze.
Is Wealthsimple Trade Trustworthy?
For sure. Wealthsimple Trade is safe. Wealthsimple reports in excess of 15 billion CAD of Assets Under Management (AUM). This company has been in business for more than 7 years and also employs roughly 600 Canadians. The primary owner is the respected public Canadian entity Power Corp of Canada. Weapthsimple Trade was the very first no-fee online brokerage operating in Canada.
How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly simple to fund your new account. Simply connect a chequing or savings account to your Trade account, and then fund your account in only a few steps. Deposits from your bank to Wealthsimple usually take only a couple of days. Funds can also be moved back to your chequing or savings accounts through the exact same process.
Which Other Benefits and Products Are Available?
Wealthsimple Cash – This is alternative to Interac E-transfers that allow anyone to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for this tax year and submit your taxes online free. It’s pitched to be easy, accurate and always totally free income tax filing.
Wealthsimple Spend – A hybrid prepaid visa and savings product that allows one to get 1% cashback on your purchases, as well as earn a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that includes a ton of different courses on different topics such as saving, investments, crypto, home buying and more.
Each of the above products, along with Wealthsimple Trade can be found on the app or at their site with a single login.
But How Should I Start With Wealthsimple Trade?
Click here to setup your Wealthsimple Trade account. For a special signup bonus for our audience you’ll get the equivalent cash value of a Canadian stock valued at $25 up to $4,500 Canadian once you make an initial deposit to your account.
What if I Still Have Additional Questions Concerning Wealthsimple Keeps Logging Me Out?
If this article didn’t answered all of your questions, and you’re still searching for further specific answers relating to Wealthsimple Keeps Logging Me Out, go to the Wealthsimple site to get answers to each your questions.