What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian web based investing, stocks plus crypto trading platform that distinguishes itself from similar apps by charging no fees.
A leading Canadian fintech company launched in the Fall twenty fourteen exclusively as a robo-advisor algorithmic trading platform named Wealthsimple Invest, it has improved considerably over the past eight years to also include Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows consumers trade both single stocks and ETFs without needing to pay any commissions. The exception to this is when trading ETFs and stocks which are listed in US Dollars. In that case, they charge a nominal currency conversion fee both when buying and selling. However, past us are the days of having to pay $7-12 for each trade with online discount brokerages as was common a couple years past.
How Much Cash Will I Need to Have in Order to Begin Investing on Wealthsimple Trade?
Wealthsimple is cool in that they will allow Canadians to make a minimum deposit of just $1. Many traditional banks and discount brokerages have quite large initial deposit amounts of 1K-$5000. This makes it impossible for the common new investor to start investing. With Wealthsimple Trade, one doesn’t need to already be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Offer Registered Accounts?
Yes. Wealthsimple Trade offers CRA registered and non-CRA-registered account types. You are free to select between both RRSP and TFSA account types during the setup wizard.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a convenient mobile app that is offered on Apple and Android. The smartphone app makes the signup process and trading of stocks and ETFs truly easy.
Is Wealthsimple Trade Safe?
Of course. Wealthsimple Trade is secure. Wealthsimple reports in excess of 15 billion Canadian in Assets Under Management . They have been doing business for more than 7 years and employs roughly 600 folks. The controlling owner is the admired publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fees digital brokerage to operate in Canada.
So How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so simple to fund your new account. Simply connect the app to a chequing or savings account with your Trade account, and then fund your account in only a couple of steps. Deposits from financial institutions to Wealthsimple normally take a few days. Funds can the same way can be withdrawn your chequing or savings accounts through the same process.
What Other Benefits and Products Are Available?
Wealthsimple Cash – This is alternative to Interac E-Transfers that allow one to quickly and simply send cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for tax season and submit your tax return online for free. It’s described to be simple, accurate and always free income tax filing.
Wealthsimple Spend – A combination prepaid debit card and savings account which allows you to earn 1% cashback on your purchases, as well as get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which includes a bunch of different courses on saving, investments, crypto, home buying and much more.
All of the above products, including Wealthsimple Trade may be accessed within the app or from their website with your Wealthsimple login.
But How do I Begin With Wealthsimple Trade?
Click here to create a new Wealthsimple Trade account. As a special signup bonus for our audience you will receive the equivalent cash value of a stock worth up to $4,500 CAD as soon as you deposit to your account.
So What if I Still Have Questions Related to Wealthsimple Review 401k?
If this article hasn’t given you the answers to each of your questions, and you’re searching for further answers relating to Wealthsimple Review 401k, check out the Wealthsimple website to find answers to all your questions.