What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian web based investing, stock and crypto trading web app that distinguishes itself from similar apps by charging no fees.
A online financial services company launched in the Autumn twenty fourteen originally as a robo-advisor algorithmic trading platform called Wealthsimple Invest, it has changed substantially over the past 8 years to feature Wealthsimple Trade, a no fee discount brokerage app.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows Canadian consumers to trade stand alone stocks and ETFs without needing to pay commissions. The exception is when trading stocks that are listed in USD currency. In this case, they do charge a currency conversion fee when buying and selling. However, behind us are the times of having to pay more than $7 per each trade with online discount brokerages as was common just a few years past.
Exactly How Much Cash Will I Need in Order to Start Investing With Wealthsimple Trade?
Wealthsimple is cool in that they allow Canadian investors to make a minimum deposit of only $1. Many traditional banks and brokerages have quite large minimum deposit amounts of 1K-5k. This makes it hard for the every day investor to start. With Wealthsimple Trade, one doesn’t have to already be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Have RRSP Accounts?
They do. Wealthsimple Trade offers CRA registered and non-CRA-registered accounts. One can choose between both RRSP and TFSA accounts during the setup process.
But Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a modern mobile app offered on iOS and Android. The smartphone app makes the registration process and also the trading of stocks and ETFs truly painless.
Is Wealthsimple Trade Secure?
. Wealthsimple Trade is secure. Wealthsimple has over 15 billion CAD of Assets Under Management . This company has been operating for more than 7 years and employs about 600 folks. The controlling owner is the large public Canadian company Power Corp of Canada. Weapthsimple Trade was the first no-fee online discount brokerage to operate in Canada.
How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so easy to fund an account. Simply connect the app to a chequing or savings account to your Trade account, and add money to your account in simply a couple of clicks. Deposits from financial institutions to Wealthsimple usually take just a few days. Funds can just as easily be withdrawn your chequing or savings accounts through the exact same process.
What Additional Features and Products Are Available?
Wealthsimple Cash – This is equivalent to E-Transfers which allow one to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for tax season and file your tax return online for free. It’s advertised to be simple, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings product that lets one to earn 1% cashback on your spending, as well as get a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that includes a variety of online courses on saving, investing, crypto, mortgages and more.
Every one of the mentioned features, along with Wealthsimple Trade can be accessed on the mobile app and on the website with one login.
But How do I Get Started With Wealthsimple Trade?
Click here to signup for a new Wealthsimple Trade account. As a special signup bonus offer to our audience you will receive the equivalent cash value of a Canadian stock worth up to $4,500 CAD when you make an initial deposit to your account.
But What if I Still Have Questions Concerning Wealthsimple Trade Cdic?
If this article didn’t given you the answers to all of your questions, and you’re still browsing for further specific facts about Wealthsimple Trade Cdic, visit the Wealthsimple site for answers to all your questions.