What is Wealthsimple?
Wealthsimple is an easy to use Canadian digital Financial, securities plus crypto trading web app that sets itself apart from similar apps by charging no fees.
A leading Canadian online financial services company founded in the Fall twenty fourteen originally as a robo-advisor algorithmic trading app named Wealthsimple Invest, it has changed considerably over the last eight years to also include Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets investors trade both single stocks and ETFs without needing to pay any fees. The exception is when you’re trading ETFs and stocks that are denominated in US Dollars. In that case, they will charge a currency conversion fee when buying and selling. But, gone are the days of paying $7-12 for each trade with digital discount brokerages as was the norm a couple years ago.
How Much Money do I Need to Have in Order to Start Investing With Wealthsimple Trade?
Wealthsimple is cool such that they will allow Canadians to make a minimum deposit of just $1. Most traditional banks and brokerages have quite large initial deposit amounts of $1,000-$5000. This makes it difficult for the normal new investor to start investing. With Wealthsimple Trade, you won’t have to be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Offer RRSP Accounts?
Of course. Wealthsimple Trade offers both CRA registered and non-CRA-registered accounts. One may select between both RRSP and TFSA account types in the setup wizard.
Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a convenient mobile app that is offered to download on IOS and Android. The mobile app makes the signup steps and the trading of stocks and ETFs very painless.
So Is Wealthsimple Trade Trustworthy?
For sure. Wealthsimple Trade is secure. Wealthsimple has over 15 billion Canadian of Assets Under Management . This company has been operating for more than 7 years and also at this time employs roughly 600 folks. The majority owner is the public Canadian entity 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 smartphone app makes it very straight forward to add funds to your new account. Simply connect the app to a chequing or savings account with your Trade account, then fund your account in just a couple of steps. Deposits from financial institutions to Wealthsimple typically take a few days. Funds can the same way can be moved to a chequing or savings accounts using the exact same steps.
What Other Features and Products Are Available?
Wealthsimple Cash – This is equivalent to e-Transfers which allow one to quickly and easily transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for tax year and submit your tax return online free. It’s described as simple, accurate and always totally free tax filing.
Wealthsimple Spend – A combination prepaid visa and savings account that lets you to recieve 1% cashback on your spending, as well as earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that offers a variety of different courses on topics like saving, investments, crypto, mortgages and more.
Every one of the mentioned features, including Wealthsimple Trade can be accessed in the mobile app or from the site with your Wealthsimple login.
But How Should I Begin With Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. As a special registration bonus offer for our readers you will receive the equivalent cash value of a random Canadian stock worth up to $4,500 CAD when you fund your account.
So What if I Still Have Additional Questions Related to Wealthsimple Review 750?
If this article still hasn’t answered each of your questions, and you’re browsing for additional info about Wealthsimple Review 750, visit the Wealthsimple site to get answers to every one of your questions.