What is Wealthsimple?
Wealthsimple is a simple to use Canadian web based investing, stock plus crypto trading web app that sets itself apart from other apps by charging no fees.
A fintech business founded in Fall of 2014 originally as a robo-advisor trading app called Wealthsimple Invest, it has improved significantly over the previous 8 years to also feature Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows Canadian consumers trade both individual stocks and ETFs without paying fees. The exception to this is when trading stocks that are listed in USD. In which case, they charge a currency conversion fee both when buying and selling. But, behind us are the times of having to pay $7-12 per each trade with online discount brokerages as was the norm just a couple years ago.
Exactly How Much Cash do I Need in Order to Begin Investing With Wealthsimple Trade?
Wealthsimple is cool such that they allow new customers to make a minimum deposit of just $1. Many alternative banks and brokerages have sizeable min deposit amounts of 1K-5K. This makes it impossible for the typical investor to get started. With Wealthsimple Trade, one doesn’t have to be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Have RRSP Accounts?
It does. Wealthsimple Trade has both CRA registered and non-CRA-registered accounts. You may choose between both RRSP and TFSA accounts during the setup wizard.
So Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a easy to use mobile app that is available on both iOS and Android. The mobile app makes the registration steps and also trading of stocks and ETFs super easy.
So Is Wealthsimple Trade Legit?
For sure. Wealthsimple Trade is trustworthy. Wealthsimple reports more than 15 billion Canadian in Assets Under Management (AUM). This company has been operating for more than 7 years and currently employs roughly 600 people. The majority shareholder is the public Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fee online discount brokerage operating in Canada.
So How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly simple to deposit to a new account. Simply connect to a chequing or savings account to your Trade account, then add money to your account in simply a couple of clicks. Deposits from your bank to Wealthsimple typically take a few days. Funds can just as easily be moved to your chequing or savings account using the same process.
Which Additional Benefits and Products Are Available?
Wealthsimple Cash – This is equivalent to Interac E-Transfers which allows anyone to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for this tax season and submit your tax return online free. It’s advertised as simple, accurate and always free income tax filing.
Wealthsimple Spend – A hybrid pre paid visa and savings product which allows one to earn 1% cashback on your spending, as well as earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that includes a ton of different courses on different topics such as saving, investing, crypto, mortgages and much more.
All of the listed features, along with Wealthsimple Trade can be accessed within the app and on their website with your Wealthsimple login.
But How do I Start With Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. As an exclusive signup bonus offer to our readers you will receive the equivalent cash value of a random Canadian stock valued at up to $4,500 CAD once you deposit to your account.
So What if I Still Have Questions About Wealthsimple Address?
If this article hasn’t given you the answers to each of your questions, and you’re still browsing for further facts about Wealthsimple Address, visit the Wealthsimple site to find answers to all your questions.