What is Wealthsimple?
Wealthsimple is an easy to use Canadian digital investing, stock plus crypto trading app that sets itself apart from other apps by charging absolutely no fees.
A online financial services company launched in Autumn of 2014 originally as a robo advisor algorithmic trading platform called Wealthsimple Invest, it has grown substantially over the past 8 years to include Wealthsimple Trade, a no fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets investors trade stand alone stocks and ETFs without having to pay any commissions. The exception to this is when trading securities that are denominated in USD currency. In that case, they do charge a nominal currency conversion fee when buying and selling. However, past us are the times of paying Upwards of $7 per each trade with discount brokerages as was common just a couple years past.
How Much Cash Will I Need in Order to Start With Wealthsimple Trade?
Wealthsimple is cool such that they will allow new customers to make a minimum deposit of just $1. The majority of traditional banks and discount brokerages have quite large initial deposit amounts of $1000-5K. This makes it difficult for the every day new investor to start investing. With Wealthsimple Trade, one doesn’t need to be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Have Registered Accounts?
It does. Wealthsimple Trade offers CRA registered and non-CRA-registered accounts. You are able to choose both RRSP and TFSA account types in the setup process.
Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a easy to use mobile app available on both Apple and Google Play. The smartphone app makes the signup phase and also trading of stocks and ETFs truly simple.
Is Wealthsimple Trade Legit?
Definitely. Wealthsimple Trade is legit. Wealthsimple has more than 15 billion Canadian of Assets Under Management (AUM). These folks have been expanding for more than 7 years and employs roughly 600 folks. The controlling owner is the respected publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the first no-fees digital brokerage operating in Canada.
How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly simple to add money to your new account. Simply connect to a chequing or savings account with your Trade account, and fund your account in only a couple of clicks. Deposits from financial institutions to Wealthsimple usually take a couple of days. Funds can the same way can be moved to your chequing or savings accounts through the exact same steps.
Which Additional Benefits and Products Are Available?
Wealthsimple Cash – This is equivalent to e-transfers which allow anyone to quickly and easily transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for tax season and file your taxes online for free. It’s pitched to be easy, accurate and always free tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings account which allows you to earn 1% cashback on all your purchases, as well as earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that offers a bunch of different online courses on different topics such as saving, investing, crypto, mortgages and much more.
Every one of the mentioned features, along with Wealthsimple Trade may be accessed in the mobile app and on their website with a single login.
But How Should I Start With Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. For an exclusive signup bonus for our audience you will get the equivalent cash value of a random share valued at up to $4,500 CAD as soon as you make an initial deposit to your account.
But What if I Still Have Questions Concerning Wealthsimple Review 2021?
If this review didn’t given you the answers to each of your questions, and you’re browsing for additional specific info relating to Wealthsimple Review 2021, visit the Wealthsimple website to get answers to all your questions.