What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based Financial, securities plus crypto trading app that sets itself apart from similar apps by charging absolutely no fees.
A leading Canadian fintech business launched in Fall of twenty fourteen originally as a robo advisor algorithmic automated trading app named Wealthsimple Invest, it has evolved substantially over the previous 8 years to also include Wealthsimple Trade, a zero fees discount brokerage platform.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets Canadian investors trade single stocks and also ETFs without needing to pay any commissions. The exception to this is when trading stocks and ETFs which are listed in US Dollars. In that case, they charge a small currency conversion fee when buying and selling. But, gone are the days of paying more than $7 for each trade with online discount brokerages as was the case just a couple years ago.
Exactly How Much Money do I Need to Have in Order to Get Started on Wealthsimple Trade?
Wealthsimple is unique in that they allow new customers to make a minimum deposit of only $1. Most alternative banks and discount brokerages have large minimum deposit amounts of 1K-5k. This makes it difficult for the everyday new investor to start. With Wealthsimple Trade, you won’t need to be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Offer RRSP Accounts?
Yes. Wealthsimple Trade has available both registered and non-CRA-registered accounts. You may choose between both RRSP and TFSA account types in the setup wizard.
But Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a convenient mobile app available on both IOS and Google Play. The app makes the signup process and the trading of stocks and ETFs incredibly easy.
Is Wealthsimple Trade Trustworthy?
Most definitely. Wealthsimple Trade is safe. Wealthsimple reports more than 15 billion Canadian in Assets Under Management (AUM). they’ve been doing business for more than 7 years and also right now employs about 600 folks. The controlling shareholder is the admired public Canadian corporation Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital brokerage operating in Canada.
So How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly straight forward to deposit to a new account. Simply connect to a chequing or savings account to your Trade account, and add funds to your account in simply a few steps. Deposits from your bank to Wealthsimple usually take a few days. Funds can also be withdrawn your chequing or savings accounts using the exact same process.
Which Additional Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is equivalent to Interac E-transfers which allows anyone to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for this tax season and file your taxes online for free. It’s pitched to be simple, accurate and always free income tax filing.
Wealthsimple Spend – A combination pre paid visa and savings account which allows one to earn 1% cashback on all your everyday purchases, and also earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that includes a variety of online courses on different topics such as saving, investments, crypto, home buying and much more.
All of the mentioned features, along with Wealthsimple Trade may be found on the app or from the site with your Wealthsimple login.
How Can I Get Started Using Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. For a special signup bonus to our readers you will get the equivalent cash value of a Canadian stock valued at up to $4,500 CAD as soon as you make an initial deposit to your account.
So What if I Still Have Additional Questions Related to Wealthsimple Trade 60?
If this blog post still hasn’t given you the answers to all of your questions, and you’re looking for more facts about Wealthsimple Trade 60, visit the Wealthsimple site to find answers to every one of your questions.