What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian online investing, securities and crypto trading app that differentiates itself from its competitors by charging absolutely no fees.
A leading Canadian fintech company founded in Fall 2014 originally as a robo advisor trading platform called Wealthsimple Invest, it has improved substantially over the last 8 years to feature Wealthsimple Trade, a no fees discount brokerage platform.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets Canadian investors to trade single stocks and also ETFs without having to pay commissions. The exception is when you’re trading securities that are denominated in USD currency. In this case, they charge a currency conversion fee both when buying and selling. But, past us are the times of having to pay Upwards of $7 per each trade with online discount brokerages as was the case just a couple years past.
Exactly How Much in Funds Will I Need in Order to Begin Investing on Wealthsimple Trade?
Wealthsimple is special such that they will allow investors to make a minimum deposit of just $1. The majority of alternative banks and discount brokerages have quite large minimum deposit amounts of 1k-$5000. This makes it difficult for the every day investor to start. With Wealthsimple Trade, you won’t need to already be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Have RRSP Accounts?
Of course. Wealthsimple Trade has both registered and non-registered accounts. You are able to select between both RRSP and TFSA accounts during the setup process.
But Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a convenient mobile app available on iOS and Android. The app makes the enrollment steps and also the trading of stocks and ETFs super painless.
So Is Wealthsimple Trade Safe?
Most definitely. Wealthsimple Trade is trustworthy. Wealthsimple boasts over 15 billion CAD of Assets Under Management . These folks have been operating for more than 7 years and right now employs roughly 600 people. The main owner is the large public Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital discount brokerage to operate in Canada.
So How Can I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so easy to deposit to an account. Simply connect a chequing or savings account with your Trade account, and fund your account in just a few clicks. Deposits from your bank to Wealthsimple typically take only a couple of days. Funds can also be moved back to a chequing or savings accounts using the exact same steps.
What Additional Features and Products Are Available?
Wealthsimple Cash – This is alternative to Interac e-transfers that allow anyone to quickly and simply transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for tax season and submit your taxes online free. It’s described as easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination prepaid debit card and savings product which lets you to recieve 1% cashback on all your everyday purchases, as well as get a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform which includes a ton of online courses on topics like saving, investing, crypto, mortgages and much more.
Every one of the mentioned features, including Wealthsimple Trade may be found on the mobile app or from their website with a single login.
So How do I Start Using Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. For a special registration bonus offer to our audience you’ll get the equivalent cash value of a random share worth up to $4,500 CAD once you deposit to your account.
So What if I Still Have Questions Concerning Wealthsimple Trade Tfsa?
If this review didn’t given you the answers to each of your questions, and you’re still looking for further info relating to Wealthsimple Trade Tfsa, visit the Wealthsimple site for answers to each your questions.