What is Wealthsimple?
Wealthsimple is a simple to use Canadian online Financial, securities and crypto trading app that distinguishes itself from its competitors by charging absolutely no fees.
A online financial services business founded in Autumn of 2014 exclusively as a robo advisor trading app named Wealthsimple Invest, it has grown considerably over the last eight years to also feature Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows Canadian consumers to trade stand alone stocks and also ETFs without paying fees. The exception is when trading stocks and ETFs that are listed in US Dollars. In which case, they do charge a small currency conversion fee when buying and selling. But, past us are the days of having to pay Upwards of $7 per trade with digital discount brokerages as was common just a couple years ago.
How Much in Funds do I Need to Have in Order to Get Started With Wealthsimple Trade?
Wealthsimple is awesome such that they will allow Canadians to make a minimum deposit of only $1. The majority of alternative banks and brokerages have quite large initial deposit amounts of 1k-5K. This makes it impossible for the everyday investor to start. With Wealthsimple Trade, you don’t have to be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Have RRSP Accounts?
They do. Wealthsimple Trade has available both CRA registered and non-CRA-registered accounts. One may choose both RRSP and TFSA account types during the setup wizard.
So Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a well designed mobile app that is available on iOS and also Android. The app makes the signup process and trading of stocks and ETFs truly painless.
So Is Wealthsimple Trade Trustworthy?
Definitely. Wealthsimple Trade is legit. Wealthsimple boasts more than 15 billion Canadian in Assets Under Management . These folks have been operating for more than 7 years and also currently employs more than 600 people. The controlling shareholder is the admired public Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fees online discount brokerage to operate in Canada.
But How Does One Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so easy to deposit to your account. Just connect to a chequing or savings account with your Trade account, then fund your account in only a few clicks. Deposits from your bank to Wealthsimple normally take only a few days. Funds can also be moved back to a chequing or savings account by using the exact same steps.
Which Other Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to E-transfers which allows you to quickly and simply transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for this tax season and submit your taxes online free. It’s pitched as easy, accurate and always free tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings account that lets you to recieve 1% cashback on your everyday purchases, and also get a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that offers a variety of courses on saving, investments, crypto, home buying and much more.
Each of the listed products, including Wealthsimple Trade can be found inside the app and from the website with your Wealthsimple login.
But How do I Start Using Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. As a special registration bonus offer for our audience you will receive the cash value of a share valued at up to $4,500 Canadian as soon as you fund your account.
What if I Still Have Additional Questions Related to Wealthsimple Trade Spousal Rrsp?
If this blog post didn’t given you the answers to all of your questions, and you’re searching for further information about Wealthsimple Trade Spousal Rrsp, visit the Wealthsimple site to get answers to each your questions.