What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital Financial, stocks and crypto trading platform that differentiates itself from the competition by charging no fees.
A leading Canadian fintech company launched in the Fall of twenty fourteen exclusively as a robo advisor trading platform named Wealthsimple Invest, it has improved substantially over the last eight years to include Wealthsimple Trade, a no fee discount brokerage app.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows Canadian investors to trade single stocks and also ETFs without needing to pay any fees. The exception is when trading stocks and ETFs that are denominated in USD. In which case, they do charge a small currency conversion fee when buying and selling. But, behind us are the days of having to pay $7-12 per each trade with discount brokerages as was the norm a couple years ago.
How Much in Funds do I Need to Have to Start Investing on Wealthsimple Trade?
Wealthsimple is special such that they allow Canadian investors to make a minimum deposit of just $1. The majority of traditional banks and discount brokerages have sizeable initial deposit amounts of $1000-$5,000. This makes it impossible for the typical investor to start investing. With Wealthsimple Trade, one doesn’t have to be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Offer RRSP Accounts?
Of course. Wealthsimple Trade has available registered and non-CRA-registered accounts. One may choose both RRSP and TFSA accounts in the setup process.
But Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a well designed mobile app that is offered on iOS and Google Play. The smartphone app makes the enrollment phase and the trading of stocks and ETFs very easy.
Is Wealthsimple Trade Trustworthy?
Definitely. Wealthsimple Trade is secure. Wealthsimple has over 15 billion CAD of Assets Under Management (AUM). they’ve been expanding for more than 7 years and also at this time employs about 600 people. The controlling shareholder is the large public Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fees digital brokerage operating in Canada.
But How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly simple to add funds to a new account. Simply connect the app to a chequing or savings account to your Trade account, and then fund your account in simply a few clicks. Deposits from your bank to Wealthsimple usually take just a couple of days. Funds can just as easily be moved to your chequing or savings accounts by the exact same steps.
What Other Features and Products Are Available?
Wealthsimple Cash – An alternative to Interac e-transfers which allow one to quickly and simply transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for this tax season and submit your tax return online for free. It’s described as easy, accurate and always free tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings account that lets one to earn 1% cashback on your spending, and also get a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform that offers a bunch of different courses on saving, investments, crypto, real estate and much more.
Every one of the listed products, including Wealthsimple Trade may be found on the app and from their website with a single login.
But How Can I Begin Using Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. As a special signup bonus offer for our audience you will get the cash value of a share worth up to $4,500 Canadian when you fund your account.
So What if I Still Have Questions Concerning Auto Deposit Wealthsimple Trade?
If this article hasn’t answered each of your questions, and you’re still browsing for further info relating to Auto Deposit Wealthsimple Trade, visit the Wealthsimple site to find answers to all your questions.