What is Wealthsimple?
Wealthsimple is a simple to use Canadian web based Financial, securities and crypto trading platform that sets itself apart from its competitors by charging no fees.
A Toronto, Ontario based fintech business launched in the Fall 2014 originally as a robo-advisor trading platform named Wealthsimple Invest, it has grown considerably over the last eight years to also include Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets Canadian investors to trade stand alone stocks and ETFs without paying any fees. The exception to this is when you’re trading stocks which are displayed in US Dollars. In which case, they charge a currency conversion fee both when buying and selling. However, past us are the times of having to pay more than $7 per each trade with discount brokerages as was common a couple years ago.
How Much in Funds Will I Need to Have to Begin Investing With Wealthsimple Trade?
Wealthsimple is unique such that they allow Canadians to make a minimum deposit of only $1. The majority of traditional banks and brokerages have quite large min deposit amounts of $1,000-$5000. This makes it difficult for the every day investor to start investing. With Wealthsimple Trade, you don’t need to be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Offer RRSP Accounts?
It does. Wealthsimple Trade has available registered and non-registered accounts. One may choose both RRSP and TFSA accounts in the setup phase.
Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a easy to use mobile app that is available on Apple and also Google Play. The mobile app makes the registration steps and also trading of stocks and ETFs super simple.
Is Wealthsimple Trade Secure?
Of course. Wealthsimple Trade is secure. Wealthsimple boasts in excess of 15 billion CAD in Assets Under Management (AUM). These folks have been doing business for more than 7 years and also at this time employs roughly 600 Canadians. The main owner is the respected publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fee digital brokerage to operate in Canada.
But How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it simple to add money to your new account. Simply connect the app to a chequing or savings account to your Trade account, then add funds to your account in just a couple of steps. Deposits from banks to Wealthsimple typically take only a couple of days. Funds can also be moved back to your chequing or savings accounts by using the same method.
Which Other Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An equivalent to e-Transfers which allow anyone to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for tax year and submit your tax return online for free. It’s pitched to be simple, accurate and always free tax return filing.
Wealthsimple Spend – A combination pre paid debit card and savings product that allows one to recieve 1% cashback on all your spending, and also 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 saving, investing, crypto, home buying and much more.
Every one of the above products, including Wealthsimple Trade may be accessed within the app or on the site with one login.
How do I Get Started With Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. As a special signup bonus for our audience you will get the cash value of a random share valued at up to $4,500 CAD as soon as you add funds to your account.
So What if I Still Have Questions Concerning Wealthsimple Rrsp?
If this article still hasn’t answered each of your questions, and you’re still searching for additional specific info relating to Wealthsimple Rrsp, visit the Wealthsimple site for answers to each your questions.