What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online Financial, stock and crypto trading platform that distinguishes itself from the competition by charging no fees.
A leading Canadian online financial services company founded in the Autumn twenty fourteen exclusively as a robo advisor automated trading platform called Wealthsimple Invest, it has improved considerably over the previous 8 years to include Wealthsimple Trade, a no fee discount brokerage app.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade allows Canadian investors trade both stand alone stocks and also ETFs without having to pay any fees. The exception is when trading stocks and ETFs which are displayed in USD. In this case, they will charge a nominal currency conversion fee when buying and selling. However, gone are the times of paying more than $7 per trade with online discount brokerages as was the case only a couple years past.
How Much in Funds Will I Need to Have to Begin Investing With Wealthsimple Trade?
Wealthsimple is cool such that they will allow new customers to make a minimum deposit of just $1. Most traditional banks and discount brokerages have large minimum deposit amounts of 1K-5K. This makes it tough for the every day investor to get started. With Wealthsimple Trade, you won’t have to be wealthy to begin 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 can choose both RRSP and TFSA account types in the setup process.
But Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a convenient mobile app offered to download on IOS and also Google Play. The mobile app makes the signup process and also the trading of stocks and ETFs very painless.
But Is Wealthsimple Trade Safe?
Of course. Wealthsimple Trade is safe. Wealthsimple has over 15 billion CAD in Assets Under Management . they’ve been doing business for more than 7 years and now employs more than 600 people. The primary owner is the respected public Canadian corporation Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital brokerage operating in Canada.
How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so easy to add money to a new account. Simply connect the app to a chequing or savings account to your Trade account, and add funds to your account in just a few steps. Deposits from banks to Wealthsimple normally take a few days. Funds can just as easily be moved to your chequing or savings account by the same steps.
Which Other Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An alternative to Interac E-transfers which allows one to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for this tax season and submit your tax return online free. It’s described to be simple, accurate and always totally free income tax filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings product which lets one to recieve 1% cashback on all your spending, and also earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform which includes a variety of courses on saving, investments, crypto, home buying and more.
Every one of the above features, along with Wealthsimple Trade may be accessed inside the mobile app or from their website with a single login.
But How do I Get Started With Wealthsimple Trade?
Click here to signup for a Wealthsimple Trade account. As an exclusive signup bonus for our readers you’ll get the equivalent cash value of a random Canadian stock valued at $25 up to $4,500 CAD once you fund your account.
But What if I Still Have Additional Questions Concerning Available Crypto In Wealthsimple?
If this review hasn’t given you the answers to all of your questions, and you’re still browsing for more answers about Available Crypto In Wealthsimple, go to the Wealthsimple site to find answers to all your questions.