What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian online Financial, stock plus crypto trading web app that differentiates itself from similar apps by charging absolutely no fees.
A leading Canadian fintech business launched in the Fall of twenty fourteen exclusively as a robo advisor trading app called Wealthsimple Invest, it has changed considerably over the past eight years to feature Wealthsimple Trade, a zero fee discount brokerage app.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows investors to trade single stocks and ETFs without needing to pay fees. The exception to this is when trading stocks and ETFs that are displayed in USD currency. In that case, they do charge a nominal currency conversion fee both when buying and selling. But, past us are the times of paying Upwards of $7 for each trade with discount brokerages as was common only a few years past.
Exactly How Much in Funds do I Need in Order to Get Started on Wealthsimple Trade?
Wealthsimple is awesome such that they will allow Canadian investors to make a minimum deposit of just $1. Most alternative banks and brokerages have sizeable min deposit amounts of $1,000-$5,000. This makes it hard for the common new investor to start investing. With Wealthsimple Trade, one doesn’t need to already be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Have RRSP Accounts?
Yes. Wealthsimple Trade offers both CRA registered and non-registered accounts. You may select between both RRSP and TFSA accounts during the setup phase.
So Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a modern mobile app available on Apple and also Android. The app makes the enrollment process and also the trading of stocks and ETFs very easy.
So Is Wealthsimple Trade Legit?
. Wealthsimple Trade is safe. Wealthsimple reports over 15 billion Canadian in Assets Under Management (AUM). This company has been operating for more than 7 years and also currently employs about 600 people. The majority shareholder is the admired publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fees digital discount brokerage operating in Canada.
But How Does One Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it easy to add funds to an account. Just connect a chequing or savings account with your Trade account, then add money to your account in only a few steps. Deposits from banks to Wealthsimple typically take only a few days. Funds can also be moved to a chequing or savings account through the same method.
Which Other Features and Products Does Wealthsimple Offer?
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’ll require to prepare for tax season and file your taxes online for free. It’s described to be simple, accurate and always free tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings product that allows one to get 1% cashback on all your everyday purchases, and also get a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that offers a bunch of different online courses on different topics such as saving, investments, crypto, mortgages and more.
All of the mentioned features, along with Wealthsimple Trade can be found inside the app and from their site with your Wealthsimple login.
How do I Begin With Wealthsimple Trade?
Click here to signup for a Wealthsimple Trade account. For a special registration bonus to our audience you’ll get the equivalent cash value of a share worth up to $4,500 Canadian when you make an initial deposit to your account.
But What if I Still Have Questions Concerning Wealthsimple Trade To Mint?
If this review hasn’t given you the answers to each of your questions, and you’re looking for more specific information about Wealthsimple Trade To Mint, visit the Wealthsimple website to find answers to all your questions.