What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital investing, stock plus crypto trading app that differentiates itself from similar apps by charging absolutely no fees.
A leading Canadian fintech business founded in Autumn of twenty fourteen originally as a robo advisor algorithmic automated trading platform called Wealthsimple Invest, it has evolved considerably over the past 8 years to feature Wealthsimple Trade, a zero fee discount brokerage app.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets Canadian investors trade stand alone stocks and also ETFs without paying fees. The exception to this is when trading stocks that are displayed in USD currency. In that case, they charge a currency conversion fee both when buying and selling. However, gone are the days of paying more than $7 per each trade with discount brokerages as was common a couple years past.
How Much Money do I Need to Have in Order to Start Investing on Wealthsimple Trade?
Wealthsimple is unique in that they will allow new customers to make a minimum deposit of only $1. Many traditional banks and brokerages have quite large min deposit amounts of 1k-5k. This makes it difficult for the everyday investor to start. With Wealthsimple Trade, you don’t need to be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Have Registered Accounts?
They do. Wealthsimple Trade has both CRA registered and non-registered accounts. You are free to choose between both RRSP and TFSA account types during the setup phase.
But Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a modern mobile app that is offered to download on iOS and Google Play. The smartphone app makes the enrollment steps and also trading of stocks and ETFs incredibly painless.
But Is Wealthsimple Trade Safe?
Most definitely. Wealthsimple Trade is trustworthy. Wealthsimple has more than 15 billion CAD of Assets Under Management (AUM). This company has been doing business for more than 7 years and also now employs more than 600 Canadians. The primary shareholder is the admired public Canadian company Power Corp of Canada. Weapthsimple Trade was the first no-fee online discount brokerage to operate in Canada.
So How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so straight forward to add funds to an account. Just connect the app to a chequing or savings account with your Trade account, then add funds to your account in only a few steps. Deposits from banks to Wealthsimple normally take just a couple of days. Funds can also be withdrawn your chequing or savings accounts through the exact same steps.
Which Additional Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to Interac e-Transfers that allows anyone to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for this tax year and file your tax return online free. It’s advertised to be easy, accurate and always totally free income tax filing.
Wealthsimple Spend – A hybrid prepaid visa and savings account that allows one to earn 1% cashback on all your purchases, as well as get a 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 saving, investing, crypto, real estate and more.
All of the mentioned features, including Wealthsimple Trade may be accessed in the mobile app or at their website with one login.
But How Can I Begin With Wealthsimple Trade?
Click here to signup for a Wealthsimple Trade account. As a special registration bonus offer to our audience you’ll receive the equivalent cash value of a Canadian stock worth $25 up to $4,500 CAD once you make an initial deposit to your account.
So What if I Still Have Additional Questions Concerning Wealthsimple Review Crypto?
If this blog post didn’t answered all of your questions, and you’re still searching for further information about Wealthsimple Review Crypto, go to the Wealthsimple site for answers to each your questions.