What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online investing, stock plus crypto trading platform that sets itself apart from its competitors by charging absolutely no fees.
A online financial services business launched in Autumn of twenty fourteen originally as a robo advisor algorithmic automated trading platform named Wealthsimple Invest, it has grown significantly over the last 8 years to also include Wealthsimple Trade, a zero fees discount brokerage service.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets Canadian investors trade both single stocks and ETFs without having to pay any fees. The exception is when you’re trading securities which are denominated in US Dollars. In which case, they will charge a nominal currency conversion fee when buying and selling. However, past us are the times of having to pay more than $7 per trade with online discount brokerages as was normal a few years ago.
How Much Money Will I Need to Have in Order to Begin Investing With Wealthsimple Trade?
Wealthsimple is unique in that they will allow Canadians to make a minimum deposit of just $1. The majority of alternative banks and brokerages have sizeable min deposit amounts of $1,000-5k. This makes it difficult for the normal investor to get started. With Wealthsimple Trade, one doesn’t have to be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Have RRSP Accounts?
Yes. Wealthsimple Trade offers both CRA registered and non-CRA-registered account types. You are free to select between both RRSP and TFSA account types in the setup process.
Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a convenient mobile app that is available to download on Apple and Android. The app makes the registration process and also trading of stocks and ETFs very a breeze.
So Is Wealthsimple Trade Secure?
Of course. Wealthsimple Trade is trustworthy. Wealthsimple reports more than 15 billion CAD in Assets Under Management . They have been in business for more than 7 years and currently employs more than 600 people. The main owner is the large public Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fee digital brokerage operating in Canada.
But How Does One Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly straight forward to add money to your new account. Just connect a chequing or savings account with your Trade account, and then add money to your account in just a couple of clicks. Deposits from financial institutions to Wealthsimple typically take just a few days. Funds can just as easily be withdrawn a chequing or savings account by the exact same process.
What Other Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to Interac E-Transfers that allow one to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for tax season and submit your taxes online for free. It’s described as simple, accurate and always totally free tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings product that lets you to get 1% cashback on all your purchases, and also earn a very competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that includes a bunch of different courses on different topics such as saving, investments, crypto, mortgages and much more.
Every one of the listed products, along with Wealthsimple Trade can be found in the app and at their site with a single login.
So How Should I Begin With Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. As an exclusive signup bonus to our readers you will get the equivalent cash value of a random Canadian stock worth $25 up to $4,500 Canadian as soon as you deposit to your account.
What if I Still Have Additional Questions Concerning Wealthsimple Review 360 Login?
If this review still hasn’t given you the answers to all of your questions, and you’re browsing for more information about Wealthsimple Review 360 Login, go to the Wealthsimple site to get answers to every one of your questions.