What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based Financial, stock and crypto trading app that distinguishes itself from similar apps by charging no fees.
A fintech business founded in the Autumn of twenty fourteen exclusively as a robo advisor algorithmic trading platform called Wealthsimple Invest, it has evolved substantially over the previous 8 years to also feature Wealthsimple Trade, a no fee discount brokerage platform.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets Canadian investors to trade individual stocks and ETFs without having to pay any commissions. The exception is when you’re trading stocks that are denominated in USD. In which case, they will charge a small currency conversion fee when buying and selling. However, gone are the days of having to pay Upwards of $7 per each trade with digital discount brokerages as was common a couple years past.
How Much Money Will I Need to Start Investing on Wealthsimple Trade?
Wealthsimple is unique in that they will allow new customers to make a minimum deposit of just $1. The majority of traditional banks and discount brokerages have quite large minimum deposit amounts of $1,000-5K. This makes it difficult for the normal new investor to start investing. With Wealthsimple Trade, you don’t need to already be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Offer RRSP Accounts?
It does. Wealthsimple Trade has registered and non-registered accounts. You can choose both RRSP and TFSA accounts in the setup phase.
So Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a modern mobile app available to download on both Apple and Android. The app makes the enrollment process and trading of stocks and ETFs incredibly painless.
But Is Wealthsimple Trade Secure?
Most definitely. Wealthsimple Trade is legit. Wealthsimple boasts more than 15 billion CAD in Assets Under Management . they’ve been expanding for more than 7 years and also now employs over 600 Canadians. The primary shareholder is the large publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade is the first no-fees digital discount brokerage to operate in Canada.
How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite simple to add money to your new account. Simply connect the app to a chequing or savings account to your Trade account, then add money to your account in just a couple of clicks. Deposits from banks to Wealthsimple normally take just a few days. Funds can just as easily be moved to a chequing or savings account with the same steps.
What Additional Benefits and Products Are Available?
Wealthsimple Cash – This is equivalent to E-transfers that allows one to quickly and simply send cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for this tax year and file your tax return online free. It’s described to be easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination pre paid debit card and savings product that lets one to earn 1% cashback on all your everyday purchases, as well as earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that offers a variety of courses on different topics such as saving, investments, crypto, home buying and much more.
Each of the above products, including Wealthsimple Trade may be accessed in the mobile app or on the site with your Wealthsimple login.
So How Can I Start With Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. As an exclusive registration bonus offer to our audience you’ll get the equivalent cash value of a random Canadian stock worth up to $4,500 Canadian once you add funds to your account.
What if I Still Have Questions About Wealthsimple Review Definition?
If this article still hasn’t answered each of your questions, and you’re looking for further information about Wealthsimple Review Definition, go to the Wealthsimple site to find answers to every one of your questions.