What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital Financial, securities and crypto trading platform that sets itself apart from other apps by charging no fees.
A fintech business founded in Autumn of 2014 exclusively as a robo-advisor trading app called Wealthsimple Invest, it has evolved significantly over the past 8 years to include Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets Canadian investors trade both individual stocks and ETFs without paying commissions. The exception is when you’re trading stocks which are displayed in USD currency. In which case, they charge a small currency conversion fee both when buying and selling. But, past us are the days of having to pay more than $7 per trade with online discount brokerages as was normal a couple years past.
Exactly How Much Cash do I Need to Have in Order to Start on Wealthsimple Trade?
Wealthsimple is unique in that they allow Canadian investors to make a minimum deposit of only $1. Many alternative banks and brokerages have quite large minimum deposit amounts of $1,000-$5,000. This makes it difficult for the normal investor to start investing. With Wealthsimple Trade, one doesn’t need to be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Offer RRSP Accounts?
Yes. Wealthsimple Trade has CRA registered and non-CRA-registered account types. You may select both RRSP and TFSA account types during the setup process.
So Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a well designed mobile app that is offered on Apple and Android. The smartphone app makes the signup steps and trading of stocks and ETFs incredibly painless.
But Is Wealthsimple Trade Secure?
Most definitely. Wealthsimple Trade is trustworthy. Wealthsimple has in excess of 15 billion Canadian of Assets Under Management . They have been operating for more than 7 years and also employs roughly 600 folks. The controlling shareholder is the large public Canadian company Power Corp of Canada. Weapthsimple Trade was the first no-fee digital discount brokerage to operate in Canada.
How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite straight forward to add money to a new account. Just connect to a chequing or savings account to your Trade account, then add money to your account in simply a couple of steps. Deposits from banks to Wealthsimple typically take a couple of days. Funds can the same way can be moved back to a chequing or savings account through the exact same steps.
Which Other Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is equivalent to Interac e-Transfers that allows one to quickly and efficiently transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for tax year and file your taxes online free. It’s advertised as simple, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid pre paid visa and savings product that lets you to recieve 1% cashback on your purchases, as well as earn a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform which includes a ton of different courses on topics like saving, investing, crypto, home buying and more.
All of the above features, along with Wealthsimple Trade can be found inside the app or on their site with one login.
How Should I Begin Using Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. As an exclusive registration bonus offer to our readers you will get the equivalent cash value of a Canadian stock valued at $25 up to $4,500 CAD as soon as you fund your account.
So What if I Still Have Questions Related to Wealthsimple Trade 800 Number?
If this article didn’t answered all of your questions, and you’re still browsing for further info relating to Wealthsimple Trade 800 Number, visit the Wealthsimple website for answers to every one of your questions.