What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based Financial, stocks plus crypto trading platform that differentiates itself from other apps by charging absolutely no fees.
A Toronto, Ontario based online financial services company launched in Autumn 2014 originally as a robo-advisor algorithmic trading app called Wealthsimple Invest, it has changed substantially over the previous 8 years to also feature Wealthsimple Trade, a no fees discount brokerage app.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets investors to trade both individual stocks and also ETFs without paying commissions. The exception to this is when you’re trading stocks which are denominated in US Dollars. In this case, they charge a nominal currency conversion fee when buying and selling. However, past us are the days of having to pay Upwards of $7 per each trade with digital discount brokerages as was the case only a couple years past.
Exactly How Much Money do I Need to Have in Order to Begin Investing on Wealthsimple Trade?
Wealthsimple is unique such that they will allow investors to make a minimum deposit of only $1. Most alternative banks and brokerages have large min deposit amounts of $1000-5K. This makes it impossible for the normal investor to start investing. With Wealthsimple Trade, one doesn’t have to already be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Have RRSP Accounts?
Of course. Wealthsimple Trade offers registered and non-registered accounts. You are free to select between both RRSP and TFSA accounts during the setup process.
So Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a modern mobile app available to download on both Apple and also Google Play. The mobile app makes the registration steps and the trading of stocks and ETFs very a breeze.
Is Wealthsimple Trade Legit?
Most definitely. Wealthsimple Trade is secure. Wealthsimple has in excess of 15 billion CAD in Assets Under Management (AUM). This company has been in business for more than 7 years and currently employs more than 600 folks. The main owner is the respected public Canadian corporation Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital discount brokerage to operate in Canada.
So How Can I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so easy to fund your account. Just connect to a chequing or savings account with your Trade account, and then add money to your account in just a couple of clicks. Deposits from your bank to Wealthsimple normally take just a few days. Funds can the same way can be moved to a chequing or savings accounts using the exact same method.
Which Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to E-transfers which allows one to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for tax season and submit your taxes online for free. It’s described as simple, accurate and always free tax filing.
Wealthsimple Spend – A combination pre paid visa and savings product that lets you to recieve 1% cashback on all your everyday purchases, as well as get a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that offers a ton of courses on saving, investing, crypto, real estate and more.
All of the listed features, along with Wealthsimple Trade can be accessed within the app and at the site with your Wealthsimple login.
How Should I Start With Wealthsimple Trade?
Click here to setup your Wealthsimple Trade account. For an exclusive registration bonus to our audience you’ll receive the equivalent cash value of a random Canadian stock worth up to $4,500 CAD when you fund your account.
But What if I Still Have Additional Questions Concerning Average Wealthsimple Returns?
If this review didn’t given you the answers to all of your questions, and you’re still looking for additional specific info relating to Average Wealthsimple Returns, check out the Wealthsimple website for answers to every one of your questions.