What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian web based investing, securities and crypto trading app that sets itself apart from the competition by charging no fees.
A online financial services business founded in the Fall of twenty fourteen exclusively as a robo advisor automated trading app named Wealthsimple Invest, it has grown significantly over the previous eight years to feature Wealthsimple Trade, a no fee discount brokerage service.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets consumers to trade stand alone stocks and also ETFs without needing to pay any fees. The exception is when trading ETFs and stocks that are denominated in USD. In this case, they charge a nominal currency conversion fee both when buying and selling. But, behind us are the days of paying more than $7 per each trade with online discount brokerages as was normal only a few years past.
Exactly How Much Cash Will I Need in Order to Get Started on Wealthsimple Trade?
Wealthsimple is special in that they allow new customers to make a minimum deposit of only $1. Many traditional banks and brokerages have large minimum deposit amounts of 1K-5K. This makes it impossible for the everyday investor to start. With Wealthsimple Trade, one doesn’t need to already be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Offer RRSP Accounts?
They do. Wealthsimple Trade has available CRA registered and non-CRA-registered accounts. One are able to select between both RRSP and TFSA account types in the setup phase.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a modern mobile app available on both IOS and also Android. The mobile app makes the signup steps and the trading of stocks and ETFs super painless.
But Is Wealthsimple Trade Legit?
Yes. Wealthsimple Trade is legit. Wealthsimple reports over 15 billion CAD in Assets Under Management (AUM). This company has been doing business for more than 7 years and currently employs about 600 people. The majority shareholder is the large publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital brokerage operating in Canada.
So How Do I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite straight forward to add money to your new account. Just connect the app to a chequing or savings account with your Trade account, then add funds to your account in simply a few steps. Deposits from banks to Wealthsimple normally take a couple of days. Funds can just as easily be moved back to your chequing or savings account with the exact same process.
Which Other Benefits and Products Are Available?
Wealthsimple Cash – This is equivalent to e-transfers that allow you to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for this tax year and submit your taxes online free. It’s pitched as easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination prepaid debit card and savings product that allows one to recieve 1% cashback on your spending, and also get a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform which includes a bunch of different online courses on different topics such as saving, investments, crypto, home buying and more.
All of the mentioned features, including Wealthsimple Trade can be accessed within the mobile app and at the site with your Wealthsimple login.
How do I Begin With Wealthsimple Trade?
Click here to signup for a Wealthsimple Trade account. For a special signup bonus offer to our audience you will receive the cash value of a random share valued at $25 up to $4,500 Canadian when you deposit to your account.
So What if I Still Have Questions About Wealthsimple Sri Review?
If this blog post hasn’t answered each of your questions, and you’re still browsing for further answers about Wealthsimple Sri Review, check out the Wealthsimple website to get answers to all your questions.