What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based investing, securities plus crypto trading app that differentiates itself from other apps by charging absolutely no fees.
A leading Canadian fintech company launched in the Fall twenty fourteen originally as a robo-advisor algorithmic automated trading app called Wealthsimple Invest, it has grown substantially over the past 8 years to include Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade allows consumers trade both individual stocks and also ETFs without needing to pay commissions. The exception is when trading securities which are displayed in USD. In this case, they charge a currency conversion fee when buying and selling. But, behind us are the days of having to pay Upwards of $7 per each trade with discount brokerages as was the norm only a couple years past.
Exactly How Much Cash do I Need to Have to Start Investing With Wealthsimple Trade?
Wealthsimple is cool in that they allow Canadian investors to make a minimum deposit of only $1. Most alternative banks and discount brokerages have sizeable initial deposit amounts of $1,000-$5000. This makes it tough for the typical new investor to get started. With Wealthsimple Trade, you won’t have to be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Offer RRSP Accounts?
Yes. Wealthsimple Trade has available both CRA registered and non-registered account types. One are able to select between both RRSP and TFSA account types in the setup phase.
So Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a modern mobile app available on IOS and Google Play. The smartphone app makes the registration phase and also the trading of stocks and ETFs super simple.
Is Wealthsimple Trade Legit?
Yes. Wealthsimple Trade is secure. Wealthsimple boasts over 15 billion CAD in Assets Under Management . They have been operating for more than 7 years and employs roughly 600 people. The majority shareholder is the respected publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fee online brokerage to operate in Canada.
But How Do I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so straight forward to add funds to your new account. Just connect a chequing or savings account with your Trade account, then fund your account in simply a few clicks. Deposits from financial institutions to Wealthsimple normally take just a couple of days. Funds can the same way can be moved back to your chequing or savings account by using the same process.
What Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to Interac E-Transfers that allows one to quickly and easily transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for this tax year and submit your tax return online for free. It’s described to be simple, accurate and always totally free tax filing.
Wealthsimple Spend – A combination prepaid debit card and savings product which allows you to earn 1% cashback on all your everyday purchases, as well as get a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that offers a bunch of different online courses on topics like saving, investments, crypto, real estate and more.
Each of the mentioned features, along with Wealthsimple Trade may be found in the app and at the site with one login.
How Should I Start With Wealthsimple Trade?
Click here to setup a new Wealthsimple Trade account. For an exclusive signup bonus for our readers you will get the equivalent cash value of a stock valued at $25 up to $4,500 Canadian as soon as you deposit to your account.
What if I Still Have Additional Questions Concerning Wealthsimple Review 529?
If this blog post hasn’t answered each of your questions, and you’re searching for further info about Wealthsimple Review 529, check out the Wealthsimple website to find answers to all your questions.