What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian web based investing, securities and crypto trading web app that sets itself apart from similar apps by charging absolutely no fees.
A Toronto, Ontario based online financial services company launched in Fall 2014 originally as a robo-advisor algorithmic trading app named Wealthsimple Invest, it has improved considerably over the last 8 years to also feature Wealthsimple Trade, a zero fees discount brokerage app.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets investors trade single stocks and also ETFs without having to pay commissions. The exception to this is when you’re trading securities that are denominated in USD. In which case, they will 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 the case only a few years ago.
How Much Cash do I Need to Have to Begin Investing With Wealthsimple Trade?
Wealthsimple is special in that they allow new customers to make a minimum deposit of only $1. Many alternative banks and brokerages have sizeable minimum deposit amounts of $1,000-$5000. This makes it hard for the normal 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 Offer RRSP Accounts?
They do. Wealthsimple Trade offers CRA registered and non-registered account types. One may choose both RRSP and TFSA accounts during the setup process.
But Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a well designed mobile app available on both iOS and Google Play. The mobile app makes the registration process and also the trading of stocks and ETFs incredibly simple.
But Is Wealthsimple Trade Legit?
Definitely. Wealthsimple Trade is trustworthy. Wealthsimple has more than 15 billion Canadian in Assets Under Management . This company has been expanding for more than 7 years and currently employs roughly 600 Canadians. The majority owner is the respected public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital brokerage to operate in Canada.
How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very easy to deposit to your account. Simply connect the app to a chequing or savings account to your Trade account, and then fund your account in only a couple of steps. Deposits from your bank to Wealthsimple typically take just a few days. Funds can just as easily be moved to your chequing or savings accounts by using the exact same process.
What Other Features and Products Are Available?
Wealthsimple Cash – This is equivalent to E-transfers that allow you to quickly and efficiently transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for this tax season and file your taxes online for free. It’s advertised to be simple, accurate and always totally free tax filing.
Wealthsimple Spend – A hybrid pre paid visa and savings account which lets one to get 1% cashback on all your everyday purchases, as well as earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform which offers a bunch of different online courses on different topics such as saving, investing, crypto, mortgages and much more.
Each of the mentioned products, including Wealthsimple Trade can be found inside the app and on their website with a single login.
But How do I Begin Using Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. As a special registration bonus to our readers you’ll get the cash value of a random share worth $25 up to $4,500 Canadian when you fund your account.
So What if I Still Have Questions Concerning Wealthsimple Us Fees?
If this blog post hasn’t answered each of your questions, and you’re searching for further information about Wealthsimple Us Fees, go to the Wealthsimple site to get answers to every one of your questions.