What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian digital investing, stock plus crypto trading web app that sets itself apart from the competition by charging absolutely no fees.
A online financial services business launched in the Fall of twenty fourteen exclusively as a robo advisor algorithmic automated trading platform called Wealthsimple Invest, it has changed significantly over the last eight years to include Wealthsimple Trade, a zero fees discount brokerage app.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows consumers to trade single stocks and ETFs without paying fees. The exception is when trading stocks and ETFs that are displayed in USD currency. In this case, they charge a small currency conversion fee both when buying and selling. However, behind us are the days of having to pay $7-12 per trade with online discount brokerages as was common only a couple years ago.
Exactly How Much Cash do I Need in Order to Start Investing With Wealthsimple Trade?
Wealthsimple is unique in that they allow investors to make a minimum deposit of only $1. Most alternative banks and discount brokerages have large initial deposit amounts of $1,000-5k. This makes it tough for the everyday investor to start. With Wealthsimple Trade, you don’t need to be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Offer RRSP Accounts?
Of course. Wealthsimple Trade has available CRA registered and non-CRA-registered account types. One can choose between both RRSP and TFSA account types in the setup process.
So Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a modern mobile app that is offered on IOS and also Google Play. The smartphone app makes the enrollment process and also the trading of stocks and ETFs incredibly easy.
So Is Wealthsimple Trade Legit?
Of course. Wealthsimple Trade is safe. Wealthsimple boasts over 15 billion Canadian in Assets Under Management (AUM). These folks have been operating for more than 7 years and also right now employs roughly 600 people. The majority owner is the respected publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital brokerage to operate in Canada.
How Does One Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite straight forward to add funds to your account. Just connect the app to a chequing or savings account to your Trade account, and then fund your account in simply a few steps. Deposits from financial institutions to Wealthsimple normally take only a couple of days. Funds can just as easily be withdrawn your chequing or savings account with the exact same process.
What Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to Interac e-transfers which allows one to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for this tax season and submit your taxes online free. It’s advertised to be easy, accurate and always free tax return filing.
Wealthsimple Spend – A combination pre paid debit card and savings product which lets you to get 1% cashback on your spending, as well as get a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform which offers a bunch of different online courses on topics like saving, investments, crypto, home buying and much more.
Each of the mentioned features, along with Wealthsimple Trade can be accessed inside the app or on the website with one login.
So How do I Begin Using Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. As an exclusive signup bonus offer for our readers you will receive the equivalent cash value of a share worth up to $4,500 CAD once you make an initial deposit to your account.
But What if I Still Have Questions Concerning Wealthsimple Review 1000?
If this review didn’t given you the answers to each of your questions, and you’re searching for additional specific information relating to Wealthsimple Review 1000, go to the Wealthsimple site for answers to each your questions.