What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online Financial, securities and crypto trading web app that sets itself apart from similar apps by charging no fees.
A leading Canadian online financial services business founded in the Autumn of 2014 originally as a robo-advisor trading app named Wealthsimple Invest, it has evolved considerably over the previous eight years to feature Wealthsimple Trade, a zero fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets consumers to trade stand alone stocks and also ETFs without needing to pay any commissions. The exception to this is when you’re trading ETFs and stocks which are denominated in USD currency. In this case, they charge a nominal currency conversion fee when buying and selling. But, gone are the days of paying $7-12 for each trade with discount brokerages as was expected a couple years past.
How Much Money Will I Need in Order to Start on Wealthsimple Trade?
Wealthsimple is cool such that they allow investors to make a minimum deposit of just $1. Many alternative banks and brokerages have large initial deposit amounts of $1,000-$5000. This makes it hard for the everyday investor to start. With Wealthsimple Trade, one doesn’t have to be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Offer Registered Accounts?
Of course. Wealthsimple Trade has both CRA registered and non-CRA-registered accounts. You may select between both RRSP and TFSA accounts in the setup wizard.
So Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a modern mobile app available to download on both iOS and Android. The mobile app makes the enrollment phase and also the trading of stocks and ETFs very a breeze.
But Is Wealthsimple Trade Secure?
Of course. Wealthsimple Trade is trustworthy. Wealthsimple reports more than 15 billion Canadian in Assets Under Management (AUM). These folks have been operating for more than 7 years and also right now employs over 600 folks. The controlling shareholder is the admired public Canadian company Power Corp of Canada. Weapthsimple Trade was the first no-fee digital discount brokerage to operate in Canada.
How Does One Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so simple to add funds to an account. Simply connect to a chequing or savings account to your Trade account, and add money to your account in only a couple of clicks. Deposits from banks to Wealthsimple normally take only a couple of days. Funds can also be moved to a chequing or savings account by using the same steps.
What Other Features and Products Are Available?
Wealthsimple Cash – An alternative to Interac E-transfers which allow you to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for tax season and file your tax return online for free. It’s described as easy, accurate and always totally free income tax filing.
Wealthsimple Spend – A combination pre paid visa and savings product which allows one to earn 1% cashback on your purchases, as well as get a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform which includes a ton of online courses on saving, investing, crypto, real estate and much more.
Each of the mentioned products, along with Wealthsimple Trade can be accessed inside the mobile app and on the website with a single login.
But How Should I Begin With Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. As an exclusive registration bonus for our readers you will get the equivalent cash value of a random stock worth $25 up to $4,500 Canadian as soon as you add funds to your account.
But What if I Still Have Questions About Wealthsimple Withdrawal?
If this review hasn’t given you the answers to all of your questions, and you’re searching for more specific answers relating to Wealthsimple Withdrawal, visit the Wealthsimple website to find answers to all your questions.