What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online Financial, stocks plus crypto trading app that distinguishes itself from its competitors by charging absolutely no fees.
A fintech company founded in Autumn of 2014 originally as a robo advisor algorithmic trading app called Wealthsimple Invest, it has improved considerably over the last 8 years to also include Wealthsimple Trade, a no fee discount brokerage app.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets Canadian investors to trade stand alone stocks and also ETFs without needing to pay any fees. The exception is when trading stocks that are displayed in USD. In which case, they will charge a nominal currency conversion fee both when buying and selling. However, gone are the times of paying $7-12 per each trade with online discount brokerages as was the case a couple years past.
Exactly How Much Money Will I Need to Start on Wealthsimple Trade?
Wealthsimple is unique in that they will allow Canadians to make a minimum deposit of just $1. The majority of traditional banks and brokerages have large min deposit amounts of $1,000-$5,000. This makes it difficult for the typical new investor to start. With Wealthsimple Trade, you won’t have to be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Offer RRSP Accounts?
Yes. Wealthsimple Trade offers CRA registered and non-registered account types. You are able to choose both RRSP and TFSA account types during the setup phase.
Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a easy to use mobile app offered on IOS and also Android. The app makes the signup phase and also trading of stocks and ETFs truly simple.
So Is Wealthsimple Trade Trustworthy?
Of course. Wealthsimple Trade is safe. Wealthsimple reports over 15 billion Canadian of Assets Under Management (AUM). These folks have been in business for more than 7 years and right now employs about 600 people. The controlling shareholder is the admired publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fees online discount brokerage to operate in Canada.
So How Can I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly simple to fund an account. Simply connect to a chequing or savings account with your Trade account, and add money to your account in simply a few clicks. Deposits from your bank to Wealthsimple usually take a couple of days. Funds can just as easily be moved to a chequing or savings account by the same steps.
What Other Features and Products Are Available?
Wealthsimple Cash – This is alternative to Interac e-Transfers that allow you to quickly and efficiently transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for tax year and file your taxes online for free. It’s described to be easy, accurate and always free tax filing.
Wealthsimple Spend – A combination pre paid visa and savings account which lets you to recieve 1% cashback on your purchases, and also get a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that offers a ton of courses on topics like saving, investments, crypto, mortgages and more.
All of the mentioned products, including Wealthsimple Trade may be accessed inside the app and on the website with one login.
How Can I Start Using Wealthsimple Trade?
Click here to register for a new Wealthsimple Trade account. As an exclusive signup bonus for our audience you’ll receive the equivalent cash value of a random share worth $25 up to $4,500 CAD as soon as you deposit to your account.
But What if I Still Have Additional Questions Concerning Wealthsimple Review 360?
If this article didn’t answered each of your questions, and you’re searching for more facts relating to Wealthsimple Review 360, go to the Wealthsimple site to find answers to all your questions.