Wealthsimple Resp

What is Wealthsimple?

Wealthsimple is a simple to use Canadian web based investing, stock plus crypto trading platform that differentiates itself from similar apps by charging no fees.

A Toronto, Ontario based online financial services company founded in the Autumn twenty fourteen originally as a robo advisor trading app named Wealthsimple Invest, it has changed significantly over the last 8 years to also feature Wealthsimple Trade, a no fees discount brokerage service.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade lets Canadian investors to trade individual stocks and ETFs without paying fees. The exception to this is when you’re trading securities that are denominated in USD. In that case, they will charge a currency conversion fee both when buying and selling. But, behind us are the times of paying $7-12 per each trade with online discount brokerages as was the case only a couple years ago.

Exactly How Much Money Will I Need to Get Started With Wealthsimple Trade?

Wealthsimple is awesome such that they will allow new customers to make a minimum deposit of just $1. Most alternative banks and brokerages have sizeable initial deposit amounts of $1000-5k. This makes it impossible for the every day investor to start. With Wealthsimple Trade, one doesn’t need to already be wealthy to get started with trading stocks and ETFs.

But Does Wealthsimple Trade Offer RRSP Accounts?

They do. Wealthsimple Trade has available both registered and non-registered account types. You are free to choose both RRSP and TFSA accounts during the setup wizard.

So Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade has a modern mobile app that is available on both Apple and also Google Play. The app makes the registration process and also the trading of stocks and ETFs very painless.

Is Wealthsimple Trade Legit?

For sure. Wealthsimple Trade is legit. Wealthsimple boasts more than 15 billion Canadian in Assets Under Management . they’ve been in business for more than 7 years and employs roughly 600 people. The main shareholder is the large public Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fee online discount brokerage to operate in Canada.

So How Can I Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it quite straight forward to fund your new account. Just connect to a chequing or savings account to your Trade account, and then add money to your account in only a few steps. Deposits from your bank to Wealthsimple normally take just a couple of days. Funds can just as easily be moved to your chequing or savings accounts by the same process.

Which Additional Features and Products Does Wealthsimple Offer?

Wealthsimple Cash – This is equivalent to e-transfers which allows one to quickly and easily send cash to friends and family in Canada.

Wealthsimple Tax – Everything you’ll need to prepare for this tax year and file your taxes online for free. It’s described to be easy, accurate and always totally free tax return filing.

Wealthsimple Spend – A combination pre paid visa and savings account which lets one to get 1% cashback on your everyday spending, and also get a very competitive 1.5% interest on savings.

Personal Finance 101 – Wealthsimple’s free personal finance education platform that includes a ton of different courses on saving, investments, crypto, real estate and much more.

All of the above products, including Wealthsimple Trade can be accessed on the app and on the site with your Wealthsimple login.

How Can I Start With Wealthsimple Trade?

Click here to setup a Wealthsimple Trade account. As an exclusive signup bonus offer for our readers you will get the equivalent cash value of a random share valued at $25 up to $4,500 Canadian once you fund your account.

What if I Still Have Questions Related to Wealthsimple Resp?

If this blog post hasn’t given you the answers to each of your questions, and you’re still searching for more specific information about Wealthsimple Resp, go to the Wealthsimple site to find answers to every one of your questions.