What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian online investing, stock plus crypto trading platform that distinguishes itself from its competitors by charging no fees.
A leading Canadian fintech company launched in Fall twenty fourteen exclusively as a robo advisor automated trading platform named Wealthsimple Invest, it has improved substantially over the previous 8 years to include Wealthsimple Trade, a no fee discount brokerage service.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets Canadian investors trade stand alone stocks and ETFs without paying fees. The exception to this is when trading ETFs and stocks which are displayed in US Dollars. In which case, they will charge a nominal currency conversion fee both when buying and selling. But, past us are the days of having to pay $7-12 per each trade with digital discount brokerages as was common only a few years ago.
How Much Cash do I Need to Have to Start Investing on Wealthsimple Trade?
Wealthsimple is special such that they allow new customers to make a minimum deposit of only $1. Most traditional banks and brokerages have sizeable min deposit amounts of 1k-$5,000. This makes it difficult for the every day new investor to get started. With Wealthsimple Trade, you don’t have to be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Have RRSP Accounts?
It does. Wealthsimple Trade has available CRA registered and non-CRA-registered accounts. You are able to choose both RRSP and TFSA account types during the setup wizard.
So Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a convenient mobile app available on both iOS and also Android. The mobile app makes the signup phase and the trading of stocks and ETFs super a breeze.
But Is Wealthsimple Trade Legit?
. Wealthsimple Trade is safe. Wealthsimple boasts more than 15 billion Canadian of Assets Under Management (AUM). they’ve been expanding for more than 7 years and employs about 600 people. The controlling owner is the admired publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade is the first no-fee online brokerage to operate in Canada.
But How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so straight forward to add money to your account. Just connect the app to a chequing or savings account to your Trade account, and add funds to your account in just a couple of clicks. Deposits from financial institutions to Wealthsimple usually take a couple of days. Funds can also be moved back to your chequing or savings accounts by using the exact same steps.
Which Other Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to Interac e-Transfers which allows one to quickly and efficiently transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for tax year and submit your taxes online free. It’s pitched to be simple, accurate and always free income tax filing.
Wealthsimple Spend – A combination pre paid debit card and savings account that allows one to earn 1% cashback on your spending, as well as earn 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 different online courses on topics like saving, investments, crypto, real estate and more.
Every one of the above products, including Wealthsimple Trade may be found in the mobile app or at the site with one login.
But How Can I Begin With Wealthsimple Trade?
Click here to setup a new Wealthsimple Trade account. As an exclusive signup bonus for our audience you will receive the equivalent cash value of a Canadian stock worth up to $4,500 Canadian when you fund your account.
What if I Still Have Additional Questions Related to Wealthsimple Trade Transfer Out?
If this review didn’t answered all of your questions, and you’re browsing for further info relating to Wealthsimple Trade Transfer Out, check out the Wealthsimple website to get answers to each your questions.