What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian online investing, stocks plus crypto trading app that sets itself apart from its competitors by charging absolutely no fees.
A fintech company launched in the Autumn of 2014 exclusively as a robo-advisor algorithmic trading app named Wealthsimple Invest, it has evolved substantially over the previous 8 years to include Wealthsimple Trade, a zero fees discount brokerage service.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets investors to trade stand alone stocks and also ETFs without having to pay any fees. The exception to this is when trading securities which are displayed in USD currency. In which case, they charge a nominal currency conversion fee both when buying and selling. But, behind us are the days of having to pay $7-12 per trade with digital discount brokerages as was the norm just a couple years ago.
How Much Cash Will I Need in Order to Start on Wealthsimple Trade?
Wealthsimple is special in that they will allow Canadians to make a minimum deposit of just $1. The majority of alternative banks and discount brokerages have quite large initial deposit amounts of $1,000-5K. This makes it tough for the common new investor to start investing. With Wealthsimple Trade, one doesn’t have to be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Offer RRSP Accounts?
It does. Wealthsimple Trade has available both CRA registered and non-registered account types. You are free to select between both RRSP and TFSA accounts in the setup process.
Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a well designed mobile app offered to download on both IOS and Google Play. The smartphone app makes the enrollment process and also trading of stocks and ETFs super simple.
Is Wealthsimple Trade Legit?
Definitely. Wealthsimple Trade is trustworthy. Wealthsimple has in excess of 15 billion CAD of Assets Under Management . They have been in business for more than 7 years and now employs about 600 people. The primary shareholder is the admired public Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fees online discount brokerage to operate in Canada.
How Do I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite simple to fund a new account. Just connect a chequing or savings account with your Trade account, and fund your account in just a couple of clicks. Deposits from banks to Wealthsimple normally take only a few days. Funds can the same way can be withdrawn a chequing or savings accounts by the exact same process.
What Additional Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to Interac e-transfers that allow one to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for tax year and file your tax return online free. It’s pitched to be easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings account which lets you to recieve 1% cashback on all your purchases, as well as earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which includes a bunch of different online courses on topics like saving, investing, crypto, mortgages and more.
Each of the listed features, along with Wealthsimple Trade can be found within the mobile app and from their website with a single login.
But How Should I Begin With Wealthsimple Trade?
Click here to setup your Wealthsimple Trade account. For an exclusive registration bonus for our audience you will get the equivalent cash value of a share worth $25 up to $4,500 CAD once you fund your account.
What if I Still Have Questions Concerning Wealthsimple Qr Code?
If this article didn’t answered all of your questions, and you’re still browsing for further specific answers relating to Wealthsimple Qr Code, check out the Wealthsimple site to get answers to each your questions.